The Austco Healthcare Ltd (ASX: AHC) share price is rocketing higher today following the announcement of a contract win.

Founded in 1986, Austco is a global manufacturer of nurse call systems and clinical communications solutions for hospital and aged-care facilities.

The healthcare company’s share price spent most of the afternoon up around 8% trading at 13 cents, before surging higher in the final moments of trade. The Austco share price closed the day at 14 cents, up 12.5%.

Austco expands client base

Investors are buying up Austco shares in light of the positive update made to the ASX this morning.

According to its release, Austco advised it has been selected to supply its Tacera Nurse Call platform to Khoo Teck Puat Hospital (KTPH)

Based in Singapore, the KTPH is a 795-bed general and acute care hospital. The building services more than 550,00 people living in the northern sector of Singapore.

KTPH is a part of Yishun Health, a network of medical institutions and health facilities under the National Healthcare Group. This comprises Admiralty Medical Centre, KTPH, and Yishun Community Hospital. It also includes community extensions such as Wellness Kampung.

Austco said the $3.3 million contract with Yishun Health would ensure that patients at KTPH received a high standard of personalised care.

The Tacera platform includes call points with built-in real-time locating system (RTLS) and webservices interfaces. In addition, software such as enterprise reporting and analytics and dashboards are to be included.

Austco CEO Clayton Astles commented:

We are excited to partner with the Khoo Teck Puat Hospital.

At Austco, we are constantly looking for ways to enhance our innovative solutions and our recent updates to the exceptional Tacera nurse call system delivers a world-class experience for healthcare facilities and every patient.

The Tacera Nurse Call platform is being planned for deployment in the first quarter of FY22, with completion by December that year.

Austco share price summary

Over the past 12 months, Austco shares have accelerated by more than 50%, and are up over 25% year-to-date. The company’s share price reached a multi-year high of 15 cents early last month.

Based on today’s price, Austco presides a market capitalisation of roughly $35 million, with approximately 284 million shares outstanding.

The post Here’s why the Austco (ASX:AHC) share price is rocketing 12% today appeared first on The Motley Fool Australia.

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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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At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Webjet Limited (ASX: WEB) has become the most shorted share on the ASX after its short interest rose to 11%. Lockdowns and border closures appear to be weighing heavily on this online travel agent’s shares.
• Kogan.com Ltd (ASX: KGN) has seen its short interest fall meaningfully week on week to 10.2%. Short sellers appear to have been closing positions on the belief that the recent outbreak of COVID-19 in Australia could boost online retailers again.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest jump to 10.1%. As with Webjet, lockdowns and border closures look set to delay this travel agent’s recovery from the pandemic.
• Inghams Group Ltd (ASX: ING) has 8.8% of its shares held short, which is flat week on week. Short sellers are believed to be targeting the poultry company due to concerns over an upcoming major contract renewal with a supermarket giant.
• Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.1% of its shares held short, which is down week on week once again. Supply chain concerns and unusual accounting methods are the reason this communications, defence, and space company is being targeted.
• Resolute Mining Limited (ASX: RSG) has seen its short interest remain at 8%. A weakening outlook for the gold price and production and regulatory issues have weighed heavily on its shares this year.
• Zip Co Ltd (ASX: Z1P) has short interest of 8%, which is up week on week again. There are concerns that Afterpay’s new pay anywhere service in the United States could disrupt Zip’s key Quadpay business.
• Tassal Group Limited (ASX: TGR) has short interest of 7.7%, which is down week on week once again. With salmon prices tipped to rebound, short sellers appear to have been closing their positions.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest ease to 7.6%. As with Kogan, short sellers may have been closing positions on the belief that the recent outbreak of COVID-19 has given ecommerce companies a major lift.
• InvoCare Limited (ASX: IVC) is back in the top ten with short interest of 6.9%. There are concerns that InvoCare could be losing market share to its funeral industry rivals despite its investments and acquisitions.

The post These are the 10 most shorted shares on the ASX appeared first on The Motley Fool Australia.

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• 2 explosive ASX growth shares named as buys

Motley Fool contributor James Mickleboro 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 Electro Optic Systems Holdings Limited, Kogan.com ltd, Temple & Webster Group Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, InvoCare Limited, and Temple & Webster Group Ltd. 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 S&P/ASX 200 Index (ASX: XJO) had a spectacular year in FY2021, rising roughly 24%. ASX tech shares also had a top year and many would have handsomely contributed to this overall gain.

We looked at the best performing ASX 200 tech shares earlier today, which you should check out. But there wouldn’t be top performers without the inevitable losers too, albeit just a few. So here is a look at some of the worst faring ASX tech shares over the year that’s just passed.

FY2021’s 5 worst performing ASX 200 tech shares

Altium Limited (ASX: ALU)

Circuit board software maker and WAAAX share Altium is our best worst performer today. It started FY21 at $32.48 a share and finished up at $36.756 last Wednesday. Yes, that puts Altium in the green for FY21, with a 13.8% gain. But, rather paradoxically, this gain also makes Altium one of the worst-performing ASX 200 tech shares on the index

Altium has been a mixed performer for a while now. The company was left in the dust by other ASX tech shares in terms of performance during the 2020 calendar year and is still ‘only’ up 4.8% in 2021 so far.

But saying that, Altium had stellar share price appreciation in both 2018 and 2019, so long-term investors can’t complain too much. The pandemic disrupted Altium’s business model far more than other tech shares and the company’s growth has suffered in response. Still, there are worse things than a 12-month gain of 13.8%.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne certainly had a wild ride over the 2021 financial year. The company rose more than 26% between September and November last year, only to fall back by 20% by January. Following this dip, the shares rose again, this time by 27% by April. But those moves are not accounted for in the FY21 bookend share prices.

TechnologyOne shares started the financial year at $8.79 a share and finished up at $9.30. That’s a gain of 5.8%, again making this company one of the worst performing ASX 200 tech shares despite the positive share price movement.

Investors may have had the company’s half-year results that we saw back in May on their minds recently. These numbers showed that TechnologyOne managed to grow its revenues by 5% over the 6 months to 31 March 2021. Profits were also up, this time by 8%.

EML Payments Ltd (ASX: EML)

One thing is for certain with EML. Its FY21 performance would have looked a lot different without that dramatic drop in value we saw back in May. On 19 May, EML lost more than 50% of its share price at one point after the company reported an Irish subsidiary was under investigation by Irish authorities over money laundering concerns.

The EML share price recovered somewhat after this but nowhere near enough to counter this dramatic drop. This means that EML finished the financial year at $3.47, still a good 3.9% above the $3.34 it started out at. Even so, EML is still a long way from its 52-week high of $5.89.

PushPay Holdings Ltd (ASX: PPH)

Now we get to the real ASX 200 tech losers of FY2021. And PushPay is first on this list. Pushpay started FY21 at a share price of $2.06. But last Wednesday saw the company close at just $1.66 a share, putting its loss for the preceding 12 months at 19.22%.

Like TechnologyOne, Pushpay has also had a volatile year. Its 52-week range at the time of writing is $1.40-$2.25, quite the disparity. Pushpay’s big FY21 announcement was its earnings report for the 12 months ending 31 March 2021, which the company delivered back in May.

These earnings detailed Pushpay was able to grow its revenues by 40% and earnings by a very impressive 133%. Judging by the share price performance over FY21, investors didn’t seem too impressed though. Perhaps they decided the Pushpay share price was high enough anyway after phenomenal 2019 and 2020 calendar years.

Appen Ltd (ASX: APX)

At last, we reach the worst-performing ASX 200 tech share of FY2021. And that would be human annotated dataset provider Appen. Things just did not go Appen’s way in FY21. The company started the financial year at $33.92 and finished up at a share price of $13.58. That represents a loss of 50.24%. Ouch.

A WAAAXer like Altium, Appen used to be regarded as a high-flying ASX growth share. It grew by more than 50% in calendar year 2018 and by more than 80% in 2019. However, 2020 and 2021 so far have seen these incredible share price growth rates stall somewhat. This has coincided with earnings downgrades and Appen getting the boot from the ASX 100 Index.

Investors were also displeased with the company in FY21. At the company’s May general meeting, 47.6% of voting shareholders gave the thumbs down to Appen’s remuneration report. Its CEO has also been selling some shares recently. None of these factors seemed to add up to a recipe for a higher Appen share price.

The post Here are the 5 worst performing ASX 200 tech shares from FY21 appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 Altium, Appen Ltd, EML Payments, and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Altium, Appen Ltd, EML Payments, and PUSHPAY FPO NZX. 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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One much-hyped ASX share has given little joy to investors over the last 12 months.

But The Montgomery Fund portfolio manager Joseph Kim has told holders of the healthcare stock to be patient, as the numbers still look pretty good.

Regenerative medicine maker AVITA Medical Inc (ASX: AVH) has seen its stock price plummet 40% in the past year.

“Price-agnostic index selling in October, a cash-burning business combined with a surprise capital raising in February that helped kill short-term price momentum, topped off by an uninspiring share price chart,” Kim said on the Montgomery blog.

“It was relatively easy to paint a negative picture.”

The shame of it all is that Avita shares were doing so well before the COVID-19 crash struck markets in February last year.

“COVID-19 and lockdowns in the US have stymied [its flagship product] RECELL roll-out just as it was gaining steam, as well as preventing recruitment for its various label extension plays in vitiligo, paediatric scalds and wound care.”

Retesting the investment thesis for Avita

The sinking share price had Kim’s team continually re-examining the investment worthiness of the US company.

One of the big reasons why The Montgomery Fund originally invested in Avita shares is the prospect of RECELL becoming the dominant player in the treatment of large burns in the US.

“While this remains some time away, there have been a couple of encouraging developments in June which we view as positive signposts along the journey,” said Kim.

“In June, the company received FDA approval for expanded use of RECELL for pediatric patients. Included in the approval was expanded indication for treatment of full-thickness burns exceeding 50% total body surface area.”

In the middle of last month, the company lifted its revenue forecast from a range of US$8.2 to US$8.6 million to a range of US$9.5 million to US$9.7 million.

“We understand the upgrade in guidance reflects both an increase in movement in the US – which unfortunately has led to greater burns incidents – as well normalisation of activity as the US ‘exits’ the pandemic given its advanced vaccination programs relative to other regions.”

Remaining optimistic on Avita shares

Kim said the increased sales will assist Avita address two priorities.

“We anticipate improved sales should help the company fund its various label-extension opportunities in vitiligo and soft tissue, and alleviate some concern around the company’s level of cash burn (which we note is an investment for future revenue growth).”

While not declaring a price target, Kim’s team is holding onto Avita shares with high hopes.

“We remain optimistic the company will expand its addressable markets through both label extension and geographic expansion given the extensive evidence of real-world cases in its targeted indications, while also growing its current burns business for years to come.”

Avita shares were down 2.39% on Monday, to trade at $5.32 in the afternoon.

The post Hold your nerve on this battered ASX share: expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns shares of Avita Medical Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical 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 Pushpay Holdings Ltd (ASX: PPH) share price has come under pressure on Monday.

In late afternoon trade, the donation and community engagement platform provider’s shares are down 2.5% to $1.58.

Why is the Pushpay share price under pressure?

The catalyst for the weakness in the Pushpay share price on Monday has been the exit of a key member of its executive team.

According to the release, the company’s Chief Financial Officer, Shane Sampson, has resigned to accept a new opportunity at another ASX-listed company, Serko Ltd (ASX: SKO). Mr Sampson will be leaving the company on 1 October 2021.

Pushpay’s CEO, Molly Matthews, commented: “On behalf of the Pushpay team, I would like to thank Shane for his dedication and commitment to the Company over the past six years. During his tenure, Shane has been instrumental in driving the increased sophistication of the Company’s financial reporting, and the scaling of our finance operations across the US and New Zealand.”

“As an invaluable member of our Executive Leadership Team, Shane played an integral role in the acquisition of Church Community Builder and successfully combining the financial reporting of the two organisations. We are extremely grateful for Shane’s leadership and support, and wish him all the best with his future endeavours,” she added.

Pushpay revealed that it has begun an executive search to appoint a new Chief Financial Officer who will be based in the company’s US office. It plans to advise the market in due course.

Pushpay’s loss is Serko’s gain

Serko CEO, Darrin Grafton, was pleased to be able to appoint Mr Sampson as the travel technology company’s new Chief Financial Officer.

He commented: “Serko is on a global growth trajectory, and we believe Shane brings the strategic, financial and commercial acumen needed to help lead our business through to the next phase. As well as being a technically skilled financial professional with a strong track record of developing high performance teams, he has the capability to add value from a broader commercial perspective and we’re excited to welcome Shane to our Executive team.”

The post Why the Pushpay (ASX:PPH) share price is under pressure appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 PUSHPAY FPO NZX and Serko Ltd. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended Serko Ltd. 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 Sezzle Inc (ASX: SZL) share price managed to topple its large cap buy now, pay later (BNPL) peers in terms of FY21 gains.

Shares in the US-based BNPL company delivered a 134% return in FY21, compared to the Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) share prices which increased 92% and 43% respectively.

With FY21 said and done, let’s take a look at what Sezzle is up to in FY22.

What Sezzle has planned for FY22

Launch of Sezzle Up

Sezzle Up was launched in 4Q20 as an “upgraded” version of the existing Sezzle experience.

For customers, the benefit of upgrading to Sezzle Up is that it enables the company to report their payment histories to credit bureaus. By making payments on time, customers can improve their credit scores and increase their spending limits to give them more buying power.

For Sezzle, the primary payment processing method is an automated clearing house (ACH).

In the company’s first quarter results, it observed a positive shift in payments towards ACH. In 1Q20, less than 3% of payment dollar volume was processed with ACH. By 1Q21, ACH was processing more than 15% of dollar volume.

Sezzle said ACH payment processing fees are approximately 150 basis points lower than traditional forms of payment.

Pleasingly, the first quarter results helped rally the Sezzle share price 7% higher to $9.63.

International expansion

International markets are certainly the name of the game for ASX-listed BNPL companies.

While Afterpay and Zip might steal the spotlight for international expansion, Sezzle has also been busy testing the waters of global opportunity.

In July 2020, Sezzle launched a pilot test for product-market fit in India. According to its FY20 annual report, the company said “while it is still in the very early stages, we are optimistic about the opportunity to be a first-mover in such a high growth market”.

In December 2020, the company began product discovery tests in Europe, saying “we are cost-effectively building the infrastructure for future expansion”.

More recently, in its first quarter results, the company announced its entry into Brazil with a similar “playbook to India and Europe — limited investment, low risk and minimal resource requirements”.

While product launch timing is uncertain, Sezzle said Brazil represents “a long-term opportunity considering it is one of the ten largest countries in the world, measured by GDP and population”.

Sezzle share price snapshot

At the time of writing, Sezzle shares are trading even at $9.01.

Based on the current share price, Sezzle has a market capitalisation of around $930 million.

The post Got Sezzle (ASX:SZL) shares? What’s in store for FY22? appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Sezzle Inc. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. 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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Shares in Centuria Capital Group (ASX: CNI) are gaining today. In fact – they’ve reached a new all-time high. Right now, the Centuria share price is $2.97, which is 2.77% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.03% higher today, while the All Ordinaries Index (ASX: XAO) has lost 0.01%.

The Centuria share price has also gained an impressive 8% over the last 5 trading days, and 10% over the last 30 days.

Let’s take a look at what Centuria has been up to over the past month.

The month that’s been for Centuria

Primewest takeover

Possibly the biggest news out of Centuria this year has been its takeover of fellow ASX-listed real estate funds management company Primewest.

Centuria announced its plans to takeover Primewest in April. Last month, Centuria told the market it must acquire all outstanding shares in Primewest, as its interest in the company had exceeded 90%.

Primewest officially delisted on 29 June.

The takeover saw Centuria paying $1.51 per share of Primewest. Each lot of $1.51 was made up of 20 cents cash and 0.473 Centuria securities.

Following the takeover, the value of Centuria’s assets under management has increased by 90% to $16.8 billion.

That makes it the fourth largest real estate fund manager on the ASX.

Unlisted capital raise

On 10 June, Centuria announced the company’s unlisted Centuria Government Income Property Fund (CGIPF) was to undertake a $133 million capital raise.

The capital raise was the largest unlisted single asset capital raise that Australia had seen in 15 years.

The cash was to go towards purchasing a high rise building in Melbourne’s Footscray.

The 14-storey office building was to cost the fund $224 million.

Centuria share price snapshot

2021 has been a ripper year for the Centuria share price.

So far, its gained more than 14% year to date. It is also 68% higher than it was this time last year.

The company has a market capitalisation of around $2.2 billion, with approximately 784 million shares outstanding.

The post The Centuria Capital (ASX:CNI) share price reaches new all-time high appeared first on The Motley Fool Australia.

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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. 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 Dicker Data Ltd (ASX: DDR) share price is only slightly up after releasing a market update on its financial performance in H2 of FY21.

An intraday high of $11.60 has dropped to $11.47 as of writing – still up 0.35% on Friday’s close. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.11% higher.

Let’s take a closer look at today’s update.

Revenue and profit update

In a statement to the ASX, Dicker Data declared its unaudited revenue and net profit estimates for the second half of the last financial year.

According to the company, revenue for the period came in at $1.07 billion – a 6.4% increase on the prior corresponding period (pcp). It is estimating net profit before tax to be roughly $45 million, which represents a 7.1% uplift on the pcp.

While these are not insignificant growth rates, they are lower rates than this time last year. Revenue at the end of FY20, for example, increased 18.2%.

Dicker Data blames a sluggish Q3 with flat revenue growth and a shortage in computer chips for the reduced rate.

The company expects this shortage to continue for some time to come but expects to clear its backlog of orders by the end of this calendar year.

Last year’s strong revenue growth could also be attributed to the unique market situation brought on by the COVID-19 pandemic. A surge in demand for IT products caused by the shift in remote work and learning saw a spike in Dicker Data sales. Many companies that saw similar sales spikes have struggled to match those levels one year on.

Dicker Data share price snapshot

Over the past 12 months, the Dicker Data share price has increased by roughly 50%. This includes an almost 10% jump in value since the beginning of this year.

Since reaching a record high of $12.60 a share back in late February, shares in the company have fallen by 9%. The release of its Q3 results saw a drop in its share price in May.

Dicker Data has a market capitalisation of $1.98 billion.

The post What’s happening with the Dicker Data share price today? appeared first on The Motley Fool Australia.

More reading

• Here are the 5 best performing ASX 200 tech shares from FY21

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 Dicker Data 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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If you’re planning to add some growth shares to your portfolio in July, then you might want to look at the shares listed below.

All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage and eponymous Breville brands, to name just two. It has been growing at a strong rate over the last few years thanks to acquisitions, its international expansion, and its continued investment in research and development. The latter is ensuring that Breville has a strong and innovative product portfolio.

UBS is positive that its growth can continue for the foreseeable future. As a result, it analysts currently have a buy rating and $35.70 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider. Hipages’ platform connects tradies with residential and commercial consumers, providing job leads from homeowners and organisations looking for qualified professionals.

Analysts at Goldman Sachs are very bullish on the company. They believe it has a bright future and see a huge growth runway ahead as its ecosystem builds. Goldman has a buy rating and $3.40 price target on its shares.

PointsBet Holdings Ltd (ASX: PBH)

A final growth share to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ and US markets. PointsBet offers innovative sports betting products and services via its scalable cloud-based platform. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and innovative new products.

Goldman Sachs is also a big fan of PointsBet. Due to its huge opportunity in the United States, the broker is tipping the company to grow very strongly during the 2020s. Goldman currently has a buy rating and $17.20 price target on its shares.

The post 3 stellar ASX growth shares analysts love appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a modest gain. The benchmark index is currently up slightly to 7,312.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 10% to $7.46 following the release of its earnings guidance for FY 2021. According to the release, the fund manager expects its underlying profit after tax (UPAT) to be between $10.7 million and $11.2 million for FY 2021. This represents a midpoint increase of 18% against the prior corresponding period. This is down from its prior (pre performance fee guidance) of $8.8 million to $9.3 million. That prior guidance represented a midpoint increase of 29% on FY 2020’s pre performance fee profit.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 4% to $28.80. This follows the release of a change of director’s interests notice which reveals significant insider selling. According to the notice, the company’s CEO, Philippe Wolgen, has sold 122,675 shares on-market. Dr Wolgen received a total consideration of approximately $3.75 million.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is down 6% to 83.5 cents. This is despite the lithium explorer revealing that it has defined significant new exploration targets in close proximity to its Buldania Lithium Project in Western Australia. Though, with the company’s shares more than doubling in 2021, this decline could be the result of profit taking.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price has fallen 5% to $4.93. This follows news that the gaming company plans to demerge its lotteries and Keno business. This will see two separate ASX-listed companies – Tabcorp and Lotteries & KenoCo. The former will retain its wagering, media, and gaming services businesses. This also ends the takeover approach by Betmakers Technology Group Ltd (ASX: BET), which judging by the share price weakness, some shareholders may have preferred.

The post Why Australian Ethical, Clinuvel, Liontown Resources, & Tabcorp shares are dropping appeared first on The Motley Fool Australia.

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• Why the BetMakers (ASX:BET) share price is up 5% at lunchtime
• ASX 200 up 0.1%: Sydney Airport takeover, Tabcorp demerger, a2 Milk jumps
• Tabcorp (ASX:TAH) share price drops on demerger news

Motley Fool contributor James Mickleboro 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 Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. 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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