To the disappointment of shareholders, the Tyro Payments Ltd (ASX: TYR) share price endured another negative session today. Interestingly, the deepening decline occurred despite there being no new announcements from the payments solutions company.

Unfortunately, the Tyro Payments share price finished 4.35% lower to $3.30 by the end of the day. As a result, the company’s shares are now closer to their 52-week low than they are to their 52-week high.

With no news from the company itself, we’ll need to dig deeper into what’s going on.

Analyst downgrades hit Tyro share price

It appears investors weren’t done with selling down their Tyro shares today after its steep fall yesterday. For reference, the company held its annual general meeting (AGM) for FY22 yesterday.

At this event, management refrained from giving guidance and warned of increased expenses as it looks to expand operations. A 15% sell-off in the Tyro share price shortly followed.

Today, two brokers have shared a negative perspective on Tyro following its AGM.

Firstly, analysts at Jefferies pointed out a reduction in gross profit growth from 24% to 14% from July to October. Jefferies suggested this was likely due to lower terminal rental fees, among other things. Citing this, the analysts decreased their price target from $4.00 to $3.60. Yet, this target is still around 9% above the current Tyro share price.

Similarly, senior analyst Richard Coles from Morgans shared some concerns over the company’s gross profits today. According to the note, Coles believes the FY22 gross profit forecast of $159 million is a stretch. For this reason, the Morgans team downgraded its FY22 and FY23 earnings per share (EPS) forecasts for Tyro by more than 10%.

Additionally, the broker reduced its Tyro share price target but retained its add rating — drawing on the company’s potential long-term growth.

The post The Tyro (ASX:TYR) share price had another stinker on Thursday. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Here’s why the Tyro (ASX:TYR) share price tumbled 15% today
• Why did the Tyro (ASX:TYR) share price lift on Monday?
• Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping
• Tyro (ASX:TYR) share price tumbles after being hit with class action

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Commonwealth Bank of Australia (ASX: CBA) yesterday broke new ground when it announced it will begin offering crypto services to its customers.

CBA’s crypto service will allow customers to trade and hold up to 10 selected cryptos, including big names like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Bitcoin Cash (CRYPTO: BCH) and Litecoin (CRYPTO: LTC).

I reported on CBA’s crypto plans yesterday. You can find that article here.

Today we turn to 3 industry experts for their take on what this means for Aussie investors and CommBank’s competitors.

CBA crypto service likely to increase Aussie adoption

Asked about the wider implications of CBA’s new crypto service, Darren Abrams, managing director of Aus Merchant Investments, told The Motley Fool:

CBA’s announcement is further validation of the legitimacy of this nascent asset class. Globally, there has been a paradigm shift amongst reputable incumbents in the retail and investment banking industry. Many have formally acknowledged the validity of this asset class and have since started providing a plethora of digital asset services. This zeitgeist will inevitably increase adoption amongst Australian individuals and institutional investors.

Ian Lowe, CEO of global crypto platform Dacxi, had a somewhat different take, saying, “It’s tempting to call CBA’s crypto move one that ‘legitimises’ the industry, but there are few people left who don’t believe that cryptocurrency should play some role in your investment portfolio.”

Lowe continued:

What it does do is lower the learning curve to investing significantly – particularly for those in older cohorts who are looking to manage their own wealth. This is undoubtedly a good thing. We’re undoubtedly going to see more of these collaborations between the Australian banks and major cryptocurrency exchanges as they adapt to consumer demand.

Jonathon Miller, managing director Australia of cryptocurrency exchange Kraken said:

It’s a big turnaround from a major bank, particularly as we saw many big banks criticised during the Senate Select Committee on Australia as a Technology and Financial Centre for their antagonistic nature towards the cryptocurrency industry and the conflation between de-banking and blockchain. We welcome this [crypto] pivot from CBA and hope it brings more support for the burgeoning Australian cryptocurrency and blockchain sector.

What’s next for investors’ crypto access Down Under?

Abrams told The Motley Fool the new CBA crypto service is likely to see other Aussie banks enter the virtual currency space.

According to Abrams:

I believe other banks will follow suit. Providing digital asset services will be an incredibly lucrative new revenue stream for banks. As digital assets become a growing interest for Australians, these publicly trading banks have a fiduciary obligation to shareholders and will eventually need to meet growing demand for crypto trading.

“I can’t foresee a cogent rationale for them not to provide these services. They will risk getting left behind,” he added.

Lowe stressed the importance for retail investors to educate themselves about Bitcoin, Ether and other cryptos. And not to forget the golden rule of diversification:

What we need to see next is education on how to package these assets up correctly. Nobody in their right mind would suggest you expose yourself to the technology sector by only investing in one technology stock. It’s the same with cryptocurrencies…

But getting the right information on cryptos remains tricky today. Lowe explained:

Education is inherently more difficult in cryptocurrency, not only from a sheer complexity standpoint, but also who do you trust for your information? There is far less certainty here than in the world of traditional assets. Cryptocurrency is legitimate, the new frontier is in making it accessible to everyone.

Miller agreed that investors should take the time to be as well informed on the crypto markets as they can, saying “It’s important consumers do as much research as possible and seek out the best service to allow them to take control of their crypto assets.”

However, Miller offered the reminder that Aussie investors looking to buy and hold onto Bitcoin or altcoins aren’t limited to the new CBA crypto service.

“Blockchain technology allows users to safely withdraw and hold their crypto directly,” he said. “It is open source technology and users should be aware that they are not restricted to platforms that lock up their assets such as CBA’s [crypto] offering.”

The post What these three experts are saying about the CBA crypto service appeared first on The Motley Fool Australia.

More reading

• The Ethereum (CRYPTO: ETH) price just hit all-time highs after a strong October
• The first crypto ETF (ASX:CRYP) has just hit the boards. Here’s what you should know
• Why did the Bitcoin (CRYPTO:BTC) price have such a great month in October?
• ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps
• CBA (ASX:CBA) just became the first Aussie bank to offer Bitcoin and crypto services

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This morning, we covered the ASX’s newest exchange-traded fund (ETF) which listed on the ASX boards today. The BetaShares Crypto Innovators ETF (ASX: CRYP) is now live on the ASX and available for trading, just like every other ETF and share on the share market.

But we have something a little different to report with this fund today. It has just broken an ASX share market record. Let’s dive in.

If you weren’t familiar with this new ETF, let’s do a rundown. The BetaShares Crypto Innovators ETF is run by the reputable BetaShares, one of the largest ETF providers on the ASX. According to the provider, this new ETF offers a “convenient, cost-effective way to gain exposure to the leaders of the rapidly emerging crypto economy”.

It does not invest in cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), or Shiba Inu (CRYPTO: SHIB) directly. Rather, it tracks companies in the crypto space. Some of its top holdings include Coinbase Global Inc (NASDAQ: COIN), Silvergate Capital Corp (NYSE: SI), and Marathon Digital Holdings Inc (NASDAQ: MARA).

Its portfolio currently has 29 other companies within it, meaning it has a relatively concentrated asset base. Some 77.3% of those 32 shares are domiciled in the United States. Another 10.3% hail from Canada and 4.9% from China.

So, what kind of record has this ETF broken today?

New BetaShares Crypto ETF smashes ASX trading record

Well, according to reporting in the Australian Financial Review (AFR) today, this new CRYP ETF has broken the ASX record for a new fund listing. And it did so within its first 2 hours of life on the ASX. CRYP reportedly experienced $24.5 million worth of trading volume by 12 noon, a mere 1½ hours after its first trade. By 1 pm, this figure had climbed to $28 million. 

The AFR says that well and truly smashes the previous record holder, which was Hyperion Asset Management’s Hyperion Global Growth Fund (ASX: HYGG), which debuted earlier this year. HYGG ‘only’ managed to hit $8 million in volume on its first day, so CRYP has blown this record out of the water.

If an ETF was to be judged by its first day, CRYP has certainly made quite an impression.

The BetaShares Crypto Innovators ETF charges an annual management fee of 0.67%, or $67 per annum for every $10,000 invested.

The post This new cryptocurrency ETF just broke ASX records appeared first on The Motley Fool Australia.

More reading

• What these three experts are saying about the CBA crypto service
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• The Resolute Mining (ASX:RSG) share price has plunged 30% since August. What’s going on?
• Up 64% in a month, here’s why the Novonix (ASX:NVX) share price is supercharging right now
• Here are the top 10 ASX shares today

Motley Fool contributor Sebastian Bowen owns shares of Bitcoin and Coinbase Global, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This Thursday has seen the S&P/ASX 200 Index (ASX: XJO) enjoy another day in the green. The ASX 200 finished market close at 0.48% to 7,428 points. But let’s take a look at the ASX 200 shares that topped the trading volume charts today, according to investing.com.

3 most active ASX 200 shares by volume this Thursday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telecommunications giant Telstra is our first share to check out today. Telstra saw a hefty 20.74 million of its shares swap hands today. There are no major news or announcements out of Telstra this Thursday, so we can probably put this elevated trading volume down to the gyrations of the Telstra share price today.

Telstra shares finished the day up 0.77% at $3.93 each, but went as high as $3.97 in the morning. This, perhaps together with Telstra’s Department of Defence contract renewal the telco announced yesterday, is what’s behind this high volume we see.

Incitec Pivot Ltd (ASX: IPL)

ASX 200 fertiliser and explosives manufacturer Incitec Pivot makes a rare appearance on this list today, with a sizeable 18.14 million IPL shares having been traded on the markets.

This is a rather strange situation because there have also been no major news or announcements out of this company, and its share price didn’t do anything too dramatic today. Incitec shares finished the day up by 0.32% to $3.11, with an intra-da range of $3.09 to $3.15 a share. Nevertheless, we still see some elevated trading volumes here, so go figure.

Tyro Payments Ltd (ASX: TYR)

Another rare appearance, Tyro Payments makes the cut today in first place amongst ASX 200 trading volumes. A whopping 23.67 million Tyro shares have found a new home today. This may be the result of the nasty 4.35% drop this company has seen this Thursday to $3.30 a share.

But the soul-crushing 18% drop this company has seen over the week so far might also be playing a role here. As my Fool colleague Tristan covered at the time, this drop can be put down to the company’s annual general meeting yesterday, where Tyro discussed its current business conditions.

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• These were the 5 best performing ASX retail shares in October
• Why the Amcor (ASX:AMC) share price is outperforming today
• ASX 200 (ASX:XJO) midday update: Zip’s record month, Domino’s crashes
• What’s going on with the Federal Reserve and how might it impact ASX shares?

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tyro Payments. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Resolute Mining Limited (ASX: RSG) share price finished in the red today, adding further to its long-running woes. This follows the release of the gold miner’s quarterly activities report during late October.

At the closing bell, Resolute shares finished the day down 2.44% to 40 cents apiece. That means its shares have now fallen by 6% in the past month, and by more than 30% since early August.

What’s been happening with Resolute Mining?

Investors have smashed the Resolute Mining share price in recent times on the back of weak sentiment in the company.

The spot price of gold has continued to wane over the past 6 months which has left asset-haven investors frustrated. It was only a little more than a year ago that gold cracked the US$2,000 barrier before plummeting thereafter.

Nonetheless, the performance of gold led the company to report a disappointing September quarter update.

At the mining level, ore mined fell to 1.43 million tonnes, an 8% decline over the prior period (June quarter). The grade of gold from mining operations dropped to 1.91 grams per tonne, from 2.03 grams per tonne.

In addition, Resolute produced 76,336 ounces of gold, relatively consistent with the prior comparable period (77,450 tonnes), down 1%.

Gold sold ticked up a notch to 89,326 ounces, up 31% when put against the 68,103 ounces sold in the June quarter.

However, the all-in sustaining cost (ASIC) offset the gains made due to the continued blending of high-cost, low-grade stockpiles. As a result, ASIC came to $1,499 per ounce as opposed to $1,319 per ounce for the 3 months ending June, down 14%.

Overall, the latest performance has continued to have a negative impact on the Resolute Mining share price.

Resolute Mining share price snapshot

Resolute shares have lost almost 50% of their value in the past 12 months. Year to date, the company’s shares have not fared much better, also down roughly 50% on the back of the falling gold spot price.

Based on the current Resolute Mining share price, the company commands a market capitalisation of about $441.55 million, with 1.1 billion shares outstanding.

The post The Resolute Mining (ASX:RSG) share price has plunged 30% since August. What’s going on? appeared first on The Motley Fool Australia.

More reading

• Up 64% in a month, here’s why the Novonix (ASX:NVX) share price is supercharging right now
• Here are the top 10 ASX shares today
• ASX debut nets Step One founder $150m, but what’s next for the company?
• Macquarie tips ANZ (ASX:ANZ) share price to hit $29.50. Here’s why.
• Why the Archer Materials (ASX:AXE) share price is charging 5% higher

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Novonix Ltd (ASX: NVX) share price is roaring higher over the last month despite the company being relatively quiet.

Novonix’s one and only price-sensitive release of the last 30 days dropped last week. It detailed the company’s quarterly activities and cash flows.

On top of that, the Novonix share price had seemingly been riding a recent wave of enthusiasm for lithium. While Novonix doesn’t deal directly with lithium, it works in the battery technology space.

Finally, news of Telsa Inc (NASDAQ: TSLA) may have piqued the market’s interest in Novonix due to its leader’s ties with the electric car manufacture. Last week, Tesla celebrated a significant milestone when its value surpassed US$1 trillion.

On Thursday, the Novonix share price closed at $8.54, 1.78% higher than its previous close and 64.5% higher than it was this time last month.

Let’s take a closer look at what might be moving the graphite explorer and manufacturer’s stock lately.

What could be fuelling the Novonix share price?

The only release the market has seen from Novonix over the last month was its activities and cash flow report for the September quarter. The Novonix share price rallied 8.5% on the day the company released its quarterly results.

Over the quarter just been, Novonix saw a loss of $6.9 million. It ended the period with around $290.9 million in cash and approximately $48.8 million of drawn finance.

That’s enough to fund another 42.2 quarters if costs remain the same as the one just been.

Additionally, over the quarter just been, Novonix purchased a new battery anode production facility in the United States. It also saw Phillips 66 (NYSE: PSX) make a strategic investment in the company.

Excitingly, it also welcomed its new chief scientific advisor, Professor Jeff Dahn.

Dahn and his research group have an exclusive partnership with Tesla. For those who aren’t aware, Dahn is the second connection Novonix has with Tesla.

The company’s CEO, Dr Chris Burns, was previously Tesla’s senior research engineer.

Finally, the Novonix share price’s recent rally might be due to increased interest in battery technology companies and lithium producers.

Lithium stocks surged last week alongside the commodity’s price. While Novonix doesn’t deal in lithium itself, its stock tends to move alongside lithium shares, likely due to its involvement in the battery sector.

The continued upwards movement experienced by the Novonix share price could be a signal of the market’s lasting excitement in the battery sector.

The post Up 64% in a month, here’s why the Novonix (ASX:NVX) share price is supercharging right now appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• The market had a lousy day. So why did the Novonix (ASX: NVX) share price leap 4%?
• Why has the Novonix (ASX:NVX) share price rallied 32% in 3 weeks?
• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) followed the lead of Wall Street with another positive session. At the end of the trading day, the benchmark index finished 0.48% higher at 7,428 points.

Most sectors on the market finished in a better place than they started today. Exceptions to this included utilities, consumer discretionary, and energy. A fall in oil prices overnight left ASX-listed oil and gas companies feeling the pinch. In contrast, financials glowed a healthy tone of green on Thursday.

The question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Nib Holdings Ltd (ASX: NHF) was the biggest gainer today. Shares in the private health insurance company gained 6.15%. The positive performance appears to be on the back of Nib’s annual general meeting with shareholders. Find out more about Nib Holdings here.

The next biggest gaining ASX share today was New Hope Corporation Ltd (ASX: NHC). Shares in the coal mining company pushed 5.56% after a rebound in coal prices. The reinstated strength in the energy-dense material follows a signal that China might begin to ease its pressure on the commodity. Uncover the latest New Hope details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Nib Holdings Ltd (ASX: NHF)	$7.165	6.15%
New Hope Corporation Ltd (ASX: NHC)	$1.995	5.56%
Chalice Mining Ltd (ASX: CHN)	$6.83	5.24%
Pexa Group Ltd (ASX: PXA)	$16.28	4.83%
CSR Ltd (ASX: CSR)	$6.28	4.67%
The Star Entertainment Group Ltd (ASX: SGR)	$3.89	4.29%
PointsBet Holdings Ltd (ASX: PBH)	$8.45	4.19%
Imugene Ltd (ASX: IMU)	$0.5775	4.05%
Pinnacle Investment Management Group Ltd (ASX: PNI)	$18.86	3.68%
Uniti Group Ltd (ASX: UWL)	$4.16	3.23%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Why the NIB (ASX:NHF) share price is one of the best performers on the ASX 200 today
• Why CSR, Hipages, NIB, and Paladin Energy shares are racing higher
• These were the 5 best performing ASX retail shares in October
• Why the Amcor (ASX:AMC) share price is outperforming today
• ASX 200 (ASX:XJO) midday update: Zip’s record month, Domino’s crashes

Motley Fool contributor Mitchell Lawler owns shares of CSR Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended PINNACLE FPO and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended PINNACLE FPO. The Motley Fool Australia has recommended NIB Holdings Limited, Pointsbet Holdings Ltd, and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Monday was a very green day for shareholders of Step One Clothing Ltd (ASX: STP) as it made its debut on the Australian Stock Exchange. The largest shareholder, founder, and CEO Greg Taylor witnessed a cool $150 million in paper profits on its first day of listed life.

However, the entrepreneurial-minded Taylor has no plans of resting on his laurels after taking the bamboo fibre underwear company public. Instead, his plans describe bigger and bolder pursuits ahead.

What exactly could the future of Step One entail?

Only the beginning for ASX-listed Step One

To the astonishment of some, Step One was started by Taylor not too long ago, back in 2017. In the space of four years, the men’s underwear brand has gone from a simple solution to a $500 million company.

The concept was devised by Taylor after having his own qualms with traditional cotton underwear. Out of a desire for a better answer, the former elite rower landed on the bamboo alternative.

Clearly, the broader market has shared in Taylor’s own experiences. Since launching the direct-to-consumer online underwear the retailer has delivered over 1.25 million orders to more than 725,000 customers.

This incredible feat has been achieved through its operations in Australia and the United Kingdom. However, with fresh capital on the balance sheet, after Step One IPO’d on the ASX, Taylor now has his sights on more.

Out of the successful $81.3 million raised through the initial public offering (IPO), around $12 million is being allocated to a push into the United States. According to the company’s prospectus, the men’s underwear market across Australia, the UK, and the US was worth approximately $8.3 billion in 2020. Undoubtedly, Step One wants to have as much of that pie as possible.

Currently, Step One is estimated to have about 6% of the men’s underwear market in the land down under. Which indicates there’s plenty of room for domestic growth. However, Taylor’s brand is now looking to branch out a little further with entry into women’s underwear as well.

History of growth

While Step One’s ASX track record is short, its prospectus bares all the juicy historical performance details.

In FY19, the company achieved $7.7 million in revenue, fairly modest. But this figure quickly grew to $61.7 million in FY21. Unlike some high-growth companies, Step One is also already profitable. The last financial year banked $7.7 million in net profit after tax.

Finally, with high growth ambitions on the cards, the company is forecasting $10.5 million in profits for FY22.

The post ASX debut nets Step One founder $150m, but what’s next for the company? appeared first on The Motley Fool Australia.

More reading

• Step One (ASX:STP) share price surges 86% in 2 days following IPO
• Why Goodman, Praemium, Step One, and Telix shares are charging higher

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is inching higher this afternoon and is now up around 0.6% at $28.65.

With the bank releasing its full-year results last week, the analyst team at Macquarie Group Ltd (ASX: MQG) have chimed in with its opinion on the outlook for the ANZ share price.

But first – How did ANZ perform in FY21?

For the 12 months ended September 30 2021, the banking giant recognised a 72% jump in its statutory profit after tax at $6.16 billion.

This corresponded with a 65% year-on-year increase in cash earnings from continuous operations of $6.2 billion.

Another takeout from the year was ANZ’s CET 1 ratio gaining 100 basis points to now sit at 12.3%. This result means the bank has eclipsed the $6 billion mark in ‘surplus’ capital on its balance sheet, well above its base-level requirements.

From this result in FY21, ANZ’s board declared a fully franked final dividend of 72 cents per share, leading shareholders to relish in a $1.42 per share total dividend for FY21.

That’s a 136% year-on-year gain in dividend income for ANZ investors to sink their teeth into.

With these results, the stage is set for brokers like Macquarie to update and remodel their forecasts on ANZ’s outlook and its valuation.

Why does Macquarie think ANZ shares are worth $29.50?

The broker appeared to be pleased by ANZ’s 2H FY21 results, citing better-than-expected margins and income from markets.

It reckons that while home lending came in below expectations, the market has likely already priced these negative catalysts into the ANZ share price.

Macquarie notes that “the key question will be how much margin ANZ will need to sacrifice to restore balance sheet growth”, despite the bank’s impressive CET 1 ratio.

Analysts at the investment bank also raise questions about the impact ANZ’s increased spend on investments could have as a near-term headwind.

Nonetheless, the broker retained its outperform rating on ANZ shares, and reinstated its $29.50 price target.

It notes that “following the weak share price performance in the lead up to the result, we believe the balance of risks is skewed to the upside for ANZ”.

In effect, from its commentary, the broker believes the juice is worth the squeeze in ANZ’s investment debate.

ANZ share price snapshot

The ANZ share price has managed to outpace the benchmark S&P/ASX 200 Index (ASX: XJO) in the last 12 months. It has gained 48% during that time and 26% so far this year.

The post Macquarie tips ANZ (ASX:ANZ) share price to hit $29.50. Here’s why. appeared first on The Motley Fool Australia.

More reading

• What happened to the ANZ (ASX:ANZ) share price in October?
• Why is the ANZ (ASX:ANZ) share price having such a stellar day?
• Can the Macquarie (ASX:MQG) share price break new highs over $200?
• Brokers name 2 ASX 200 dividend shares to buy
• Top ASX shares to buy in November 2021

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Archer Materials Ltd (ASX: AXE) share price is powering ahead on Thursday. This comes after the materials technology company provided a technical progress update to investors on its ‘lab-on-a-chip’ technology (biochip).

At the time of writing, Archer Materials shares are fetching $1.69 a pop, up 5.63%. In comparison, the All Ordinaries Index (ASX: XAO) is also higher, up 0.26% to 7,733.4 points.

Archer Materials progresses its biochip development

In its release, Archer Materials advised it has been busy developing a biochip that can analyse tiny amounts of liquid or gas such as saliva, blood, and breath.

To bring the biochip to life, the company used advanced fabrication techniques to achieve features like hair-thin microfluidic channels. These channels allow sample processing as well as transportation into smaller built-in sensors for analysing biochemical targets.

Archer highlighted the microfluidic channels are less than 20 micrometres in width (about 3 times thinner than a human hair). This gives a strong notion of the complexity of developing a biochip for the future.

The latest development marks the passing of a significant checkpoint in Archer’s quest to commercialise its biochip. The global semiconductor industry is one of the most important drivers of the global economy, with semiconductors used in almost all technological applications.

Best-in-class capabilities in nanofabrication is a global competitive advantage in the multibillion-dollar point of care medical diagnostics industry. One of the reasons there are few companies in the world developing and commercialising biochips is because it’s difficult to achieve precision engineering at the nanoscale.

Archer Materials CEO Mohammad Choucair commented:

The Archer team has been ultra-focused on strengthening and expanding our nano- and micro-fabrication capabilities, including for the development of Archer’s biochip, as this is one of the biggest challenges to potential commercialisation of lab-on-a-chip technology.

We have demonstrated miniaturisation with deliberate, precision control of nanosized components’ fabrication and positioning for integrating biosensing functions on chip substrates, which Archer ultimately aims to translate into a sophisticated and unique biochip technology.

Archer Materials share price snapshot

Shareholders are likely ecstatic over the performance of the Archer Materials share price in 2021. It’s gained more than 220% year-to-date, reflecting strong investor optimism in the company’s progress in developing its CQ chip.

Archer Materials presides a market capitalisation of $418.2 million with 247.5 million shares on issue.

The post Why the Archer Materials (ASX:AXE) share price is charging 5% higher appeared first on The Motley Fool Australia.

More reading

• Archer Materials (ASX:AXE) share price climbs on increased capital raise
• Archer Materials (ASX:AXE) share price leaps 11% on chip update

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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