The New Hope Corporation Limited (ASX: NHC) share price has bounced between positive and negative territory today. This follows a market update regarding thermal coal pricing and demand.

The coal mining company’s shares closed the day down by 0.43% to $1.85.

What did New Hope announce?

New Hope upgraded its full-year earnings before interest, taxes, depreciation, and amortisation (EBITDA) guidance to between $330 million and $390 million.

Additionally, the company expects its strong cash-generating position to reduce its debt-to-earnings ratio to below 0.5 times by the end of FY21.

The coal miner’s uplift in forecasted financial performance was underpinned by a 60% increase in the Japanese reference price of thermal coal to US$109.97.

Thermal coal prices have jumped to 9-year highs on the back of strong demand from China, coupled with China’s ban on Australian coal imports.

With China’s ban in place, New Hope previously advised it had been “concentrating on establishing new markets and has successfully sold all high-ash product produced”.

The company expects restocking activities to take place for the northern hemisphere summer from June, which should provide support for pricing through to at least August.

New Hope share price surges to pre-COVID levels

New Hope shares have surged 60% since early May, and are now back to pre-COVID levels of around $1.80.

The upgraded EBITDA guidance should see New Hope top its FY20 results. However, it’s still quite a long way off beating its record FY19 performance.

In FY20, the company experienced a 44% slump in EBITDA to $290 million due to lower coal prices in the second half. This came despite a 6% increase in coal tonnes sold to 11.5 million.

FY19 was described by the company as the “best full-year profit before non-regular items in company history”. The company delivered an EBITDA of $517 million, a 11% increase on the prior corresponding period.

The post New Hope (ASX:NHC) share price seesaws after coal pricing update appeared first on The Motley Fool Australia.

More reading

• These ASX shares just got hit by broker downgrades
• China losing the war against these ASX shares
• These ASX coal shares shone today. What’s next?
• ASX 200 up, Zip rises, Aristocrat Leisure reports

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. 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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Luckily in this low interest rate environment, there are a number of dividend shares offering investors decent yields.

Two ASX dividend shares that do just this are listed below. Here’s what you need to know about them:

Charter Hall Social Infrastructure REIT (ASX: CQE)

Charter Hall Social Infrastructure REIT is a real estate investment trust with a focus on social infrastructure. These are properties with specialist use, limited competition, and low substitution risk, such as bus depots, police and justice services facilities, and childcare centres.

In fact, in respect to the latter, the Charter Hall Social Infrastructure REIT is the largest owner of early learning centres in Australia. At the last count, it actively partnered with 35 high quality childcare operators.

Positively, the company has experienced strong demand for its properties, leading to a sky high occupancy rate. This underpinned a 14.1% increase in operating earnings to $29.1 million during the first half and allowed management to upgrade its FY 2021 distribution guidance to 15.7 cents per unit.

Based on the current Charter Hall Social Infrastructure share price, this represents a 4.3% yield.

Woolworths Limited (ASX: WOW)

Woolworths is the retail giant behind the BIG W, BWS, Dan Murphy’s, and eponymous Woolworths supermarkets.

It has also recently announced the demerger of its Endeavour Drinks business. This is expected to strengthen its balance sheet and lead to upwards of $2 billion of capital returns for shareholders.

In the meantime, Woolworths has been a positive performer in FY 2021 thanks to favourable trading conditions across much of the business. This is expected to lead to further dividend growth this year.

Macquarie is expecting a fully franked $1.06 per share dividend in FY 2021. Based on the current Woolworths share price, this will mean a 2.4% yield. While this isn’t the largest yield you’ll find, it looks well-placed to continue growing over the next decade.

The post These ASX dividend shares have attractive yields appeared first on The Motley Fool Australia.

More reading

• Top brokers just upgraded these ASX shares to “buy”
• Here’s why the Secos (ASX:SES) share price is rocketing 18% today
• ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound
• What I regret about my Afterpay (ASX:APT) shares: analyst
• ASX 200 rises, Woolworths acquisition approved, Austal in rough waters

James Mickleboro does not own any shares 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 Woolworths 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 Sezzle Inc (ASX: SZL) share price is not having a great start to the trading week this week. Sezzle shares are currently down a hefty 5.3% at the time of writing to $8.75 a share.

Since last Friday, the shares are now down close to 8%, and more than 25% off of the buy now, pay later (BNPL) company’s February all-time high of $11.99. In saying that, Sezzle is also still up almost 40% year to date, and 194% over the last 12 months.

But Sezzle’s fall today is a rather strange one. Not because of its size – BNPL shares are notoriously volatile. No, because of what’s going on with the other BNPL shares in this space today. Out of most of ASX’s BNPL shares, Sezzle is alone in the red today.

ASX BNPL pioneer Afterpay Ltd (ASX: APT) is having a strong day today, up 2.13% to $105.72 a share. This company is now up more than 25% since 13 May. The ASX’s second-largest BNPL player is Zip Co Ltd (ASX: Z1P). Zip is also feeling the love from the markets today, with a similar gain of 2.38% as well to $7.32 a share.

So what’s going on with Sezzle today then?

Sezzle share price not sizzling

Well, it’s hard to say. There have been no major news or announcements out of the company, save for some routine paperwork involving Sezzle’s US dual-listing. We also learnt this morning that a couple of Sezzle’s directors have been moving some shares and options around. However, it’s worth noting that the Sezzle share price has been on something of a short-term run lately. Sezzle shares are now up 16.6% since 2 June, even after accounting for today’s drop.

Even though Sezzle is down today whilst other BNPL companies like Afterpay and Zip are rising, it’s not the only BNPL share in the red today. Some of the ASX’s other smaller BNPL companies are also falling. These include Laybuy Holdings Ltd (ASX: LBY), down 4.1%, Openpay Group Ltd (ASX: OPY), down 1%, and Humm Group Ltd (ASX: HUM), down 1.7%. So Sezzle isn’t the only one out in the cold today.

The post Sezzle (ASX:SZL) share price misses out on today’s BNPL gains appeared first on The Motley Fool Australia.

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• ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound
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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 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 Humm Group Limited and 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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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:

• Kogan.com Ltd (ASX: KGN) continues to be the most shorted share on the ASX despite its short interest easing slightly to 11.8%. The ecommerce company’s shares have come under pressure after it revealed significant inventory issues and a slowdown in sales.
• Webjet Limited (ASX: WEB) has seen its short interest rise to 10.5%. This online travel agent’s shares may have been targeted due to concerns they are overvalued at the current level. Especially with the travel market recovery taking longer than hoped.
• Resolute Mining Limited (ASX: RSG) has seen its short interest remain flat at 10.4%. A number of factors have been weighing on this gold miner’s shares this year. This includes regulatory issues at its Bibiani operation in Ghana and its underwhelming production performance and guidance. It was also just dumped out of the ASX 200 index.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest ease slightly to 9.5%. This online furniture and homewares retailer recently revealed that it would be sacrificing its profit growth in order to invest heavily in its future sales growth.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest rise strongly to 9.4%. Concerns over its valuation and delays to the travel market recovery appear to be behind this high level of short interest.
• Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.8% of its shares held short, which is down week on week. This communications, defence, and space company could be being targeted by short sellers due to concerns that supply chain issues could impact its performance.
• Tassal Group Limited (ASX: TGR) has short interest of 8.5%, which is down week on week. Unfortunately for short sellers, last week Goldman Sachs retained its buy rating and lifted its price target to $4.10. It notes that Tassal is set for a stronger FY 2022 with a recovery in demand for Atlantic Salmon and Prawns well underway.
• Inghams Group Ltd (ASX: ING) has 7.9% of its shares held short, which is flat week on week. Short sellers are holding firm despite the poultry company’s shares recently hitting a 52-week high.
• Zip Co Ltd (ASX: Z1P) has short interest of 7.5%, which is up week on week. Valuation and competition concerns may be weighing on sentiment. In respect to the latter, there are fears that a US bank will enter the BNPL market and undercut its Quadpay business.
• Megaport Ltd (ASX: MP1) has short interest of 7.5%, which is down week on week once again. Valuation concerns have been weighing on this Network as a Service provider’s shares.

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

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• How Microsoft’s new Xbox could spur ASX data centre shares
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• ASX 200 up 1%: Tech shares rise, Bank of Queensland’s provision update
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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 recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of 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 and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, Kogan.com ltd, MEGAPORT FPO, 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 market hit a new record high on the first trading day of the week and two ASX shares are in the spotlight after getting upgraded by leading brokers.

The S&P/ASX 200 Index (Index:^AXJO) gained over 1% to an all-time high with most sectors trading in the black as we head into the market close.

3 drivers behind the upgrade for this ASX share

However, the Coles Group Ltd (ASX: COL) share price was among the standouts. Shares in the supermarket jumped 2.3% to $17.05 at the time of writing after Macquarie Group Ltd (ASX: MQG) upgraded it to “outperform” from “neutral”.

The upbeat view is driven by three factors. One is the normalising of consumer behaviour as the shopping local trend unwinds.

“Physical occupancy levels in Syd and Melb CBDs are improving significantly, to 68% and 45% of pre-COVID levels as of May,” said the broker.

“We note, COL supermarkets are over-indexed to shopping centres and CBDs, areas most impacted by the pandemic.”

Other factors supporting Coles share price upgrade to “buy”

Macquarie also noted that the comparable sales gap between Coles and archrival Woolworths Group Ltd (ASX: WOW) is narrowing.

Finally, a rebound in traffic bodes well for the Coles-run petrol stations and convenience stores.

“Driving in Brisbane and Sydney is tracking back towards pre-pandemic levels although Melbourne has dropped significantly following the two-week lockdown,” added Macquarie.

“An uptick in people driving as mobility restrictions ease and domestic travel ramps up, will support growth in COL’s Express business including both fuel volumes and C-store sales.”

The broker’s 12-month price target on the Coles share price is $18.20 a share.

M&A triggers upgrade for this ASX share

Meanwhile, the Regis Healthcare Ltd (ASX: REG) share price got upgraded by Morgans to “add” from “hold”.

This is largely due to the merger and acquisition (M&A) fever that’s washing over the ASX. We’ve seen high-profile takeover attempts for the Crown Resorts Ltd (ASX: CWN) share price and Tabcorp Holdings Limited (ASX: TAH) share price.

Enthusiasm for acquisitions have also spilt over into the aged care space. Regis received a non-binding offer that it rejected and rival Japara Healthcare Ltd (ASX: JHC) is also being pursued.

Price discovery uncovers value

“With M&A activity in the sector front and centre, we can now get a clearer idea of trading multiples,” said Morgans.

“Although the Japara take-over offer is still non-binding and a few months away from a clear decision point, it does suggest the two other listed players are trading at multiples that could provide upside for investors.”

The Japara share price is trading on an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of around 9.4 times.

In contrast, the Regis share price is trading on an adjusted EBITDA of 8.8 times, according to Morgans.

The broker’s 12-month price target on the Regis share price is $2.23 a share.

The post Top brokers just upgraded these ASX shares to “buy” appeared first on The Motley Fool Australia.

More reading

• Here’s why the Secos (ASX:SES) share price is rocketing 18% today
• Japara (ASX:JHC) share price shoots higher on second takeover offer
• Investors are now buying more index ETFs than ASX shares
• The Fortescue (ASX:FMG) share price is gaining today
• After a thumping year, L1 Capital to expand fund offerings

Brendon Lau owns shares of Macquarie Group Ltd and Woolworths Group Ltd. Connect with me on Twitter @brenlau.

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 COLESGROUP DEF SET, Macquarie Group Limited, and Woolworths 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 Cash Converters International Ltd (ASX: CCV) share price is charging higher, up more than 3% in afternoon trading.

Below we take a look at what’s driving investor interest.

What update did Cash Converts provide?

Cash Converters’ share price is gaining today after the company reported strong growth rates in its personal lending outgoings, with its loan books growing.

The company’s total gross loan books increased by 14% over the half year to 31 May to $176.6 million. That’s up from $151.1 million as of 31 December.

Cash Converters also said it had re-launched its vehicle finance product, with the recent months seeing outgoings growing.

In an update on its corporate and franchise store network acquisitions, Cash Converters reported it acquired (or entered into arrangements to acquire) 6 franchise stores during the 2021 financial year. The company plans to maintain its focus on “disciplined growth” as it continues to expand its physical footprint to reach new customers.

The Cash Converters’ share price may also have received a boost from the company’s reiteration that it’s committed to resuming sustainable dividend payments. It reported a May 2021 cash balance of $73.3 million, along with an undrawn funding facility line of $79.8 million.

Commenting on the performance update, Cash Converters’ managing director, Sam Budiselik, said:

The performance of our underlying business throughout FY 2021 has been extremely impressive considering the substantial impact of COVID-19 on our loan books, with government stimulus payments impacting borrower demand and accelerating loan book repayments in the first half of FY 2021.

Whilst borrower demand and business activity throughout the second half of FY 2021 has largely recovered, the expectation of a softer second half earnings result is due to these COVID-19 related factors.

Budiselik added that “borrowing demand continues to recover and loan book growth is forecast to continue” in the 2022 financial year.

Cash Converters’ full 2021 financial year results will be released to the market by 30 August.

Cash Converters share price snapshot

Over the past 12 months, Cash Converters’ shares have gained 41%, handily outpacing the 31% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Cash Converters share price is up a more modest 5%.

The post What’s lifting the Cash Converters (ASX:CCV) share price today? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Little Green Pharma (ASX:LGP) share price is down 5%
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• Why the MoneyMe (ASX:MME) share price is rocketing 17% today
• Here’s why the Secos (ASX:SES) share price is rocketing 18% today
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben 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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Shares in Little Green Pharma Ltd (ASX: LGP) are falling amid news the company’s distribution responsibilities have changed. At the time of writing, the Little Green Pharma share price is 64.5 cents – 5.84% less than its previous closing price.

Today, the medicinal cannabis producer announced it has revised its distribution agreements following Therapeutic Goods Administration (TGA) clarification.

The company also updated the market on an ongoing purchase order of its products by German wholesaler DEMECAN.

Let’s take a closer look at the latest news from Little Green Pharma.

Revised distribution agreements

According to Little Green Pharma, its revised agreements will see its distribution partners acting as distributors rather than wholesalers.

Under the agreements, distributors will still dispense Little Green Pharma’s products but the company will hold ownership until they’re sold to pharmacies.

The revisions follow the TGA’s issuance of notices to all medicinal cannabis wholesalers.

The notices clarified rules for the wholesaling of unregistered pharmaceutical products. Medicinal cannabis products are considered unregistered pharmaceuticals.

Little Green Pharma will soon receive revenue for sales to pharmacies, rather than to wholesalers.

However, the company said the changes will impact its revenue for the fourth quarter of 2021.

This will be due to distributors drawing from current stocks before new supply rates take effect.

The company’s revenue will increase when it sells products directly to pharmacies. However, its distribution costs will increase at the same time.

As a result, Little Green Pharma believes, beyond 2021, its profits will not be affected by the change.

However, the change will see the timing of the company’s cash receipts slightly impacted.

DEMECAN’s latest order

Recently, DEMECAN placed a $2.5 million purchase order for Little Green Pharma’s products.

Today, Little Green Pharma stated it’s still waiting on regulatory approvals required to import most of the order to Germany.

According to Little Green Pharma, roughly 7,000 units of its 9,000 unit order are awaiting routine approvals.

The company says there are no reasons DEMECAN won’t meet the approvals.

However, if it doesn’t, Little Green Pharma will package the halted products to be sold in Australia.

Little Green Pharma share price snapshot

Despite today’s fall, the Little Green Pharma share price has been performing well on the ASX lately.

Currently, it’s 14% higher than it was at the start of 2021. It’s also gained 69% since this time last year.

The company has a market capitalisation of around $90 million, with approximately 187 million shares outstanding.

The post Here’s why the Little Green Pharma (ASX:LGP) share price is down 5% appeared first on The Motley Fool Australia.

More reading

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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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

According to a note out of Credit Suisse, its analysts have retained their underperform rating and $70.71 price target on this pizza chain operator’s shares. This follows news that the company is acquiring Domino’s Taiwan for $79 million. While the broker notes that there are opportunities to expand its store network significantly in the market, it isn’t enough for a change of rating. It continues to believe that Domino’s shares are overvalued. The Domino’s share price is fetching $118.46.

IGO Ltd (ASX: IGO)

A note out of Morgan Stanley reveals that its analysts have downgraded this clean energy company’s shares to an underweight rating but increased the price target on them to $6.35. The broker has been pleased with IGO’s shift to a clean energy company, however, it believes the market is overvaluing its assets. In response to this, the broker has downgraded its shares today. The IGO share price is trading at $7.39.

Premier Investments Limited (ASX: PMV)

Analysts at Goldman Sachs have retained their sell rating but lifted their price target on this retail conglomerate’s shares to $21.10.  This follows the release of a trading update last week which revealed that its strong growth has continued since its last update. While Goldman has been impressed with its stronger than expected performance, it is expecting a sharp earnings decline next year. In light of this, it feels that its shares are still overvalued at the current level. The Premier Investments share price is trading at $28.70 today.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares 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 Premier Investments Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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 MoneyMe Ltd (ASX: MME) share price is proving a strong performer today. This follows a trading update provided to the ASX from the digital credit company.

At the time of writing, MoneyMe shares are fetching $1.89, up 17.81% for the day.

What did MoneyMe announce?

Investors are buying up MoneyMe shares after the fintech lender revealed strong results for the month of May.

According to today’s release, MoneyMe achieved record originations of $57 million for May. This represents a 384% increase on the $11.8 million it achieved in May 2020. By contrast, March and April 2021 saw $47 million and $44 million in originations, respectively.

Complementing the improved performance, the company said it is experiencing significant originations from Autopay. The secured vehicle finance solution, which launched in April, exceeded $1.2 million in cars financed during May. Pleasingly, MoneyMe expects this result to more than double in June.

MoneyMe managing director and CEO Clayton Howes said of the result:

We are very pleased to report the continuing growth and momentum in MoneyMe. Another record originations result for last month is a direct result of our products continuing to deliver amazing customer experiences, including from automated decisioning and fast settlement and across a diversified product set.

Our latest product, the newly launched Autopay, is a ground-breaking innovation and demand from the dealer and broker industry for the product has been significant and we expect origination volumes in Autopay to grow materially.

About the MoneyMe share price

For the bulk of the past 12 months, MoneyMe shares have generally traded sideways until today’s announcement. The company’s share price is now within sights of breaking its all-time high of $2.00.

MoneyMe has a current market capitalisation of around $314 million, with roughly 171 million shares outstanding.

The post Why the MoneyMe (ASX:MME) share price is rocketing 17% today appeared first on The Motley Fool Australia.

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• Here’s why the Secos (ASX:SES) share price is rocketing 18% today
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• Why Austal, Cettire, Leigh Creek Energy, & McPherson’s are sinking today
• Up 1,169% in 1 year, why the IOUpay (ASX:IOU) share price is higher today

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 Secos Group Ltd (ASX: SES) share price is rocketing today, up more than 18% in afternoon trade.

We look at the latest business update from the ASX listed sustainable packaging manufacturer.

What update did Secos provide?

The Secos share price is soaring after the company reported a huge lift in Woolworths Group Ltd (ASX: WOW) stores offering Secos’ certified compostable bin liners.

In July 2020, Woolworths initially rolled out Secos MyEcoBag brands to 88 Eco Stores. According to the release, the rollout performed beyond expectation. Secos has now been awarded 115 more stores within the Woolworths retail network, bringing the total to 203 stores.

Commenting on the expanded offering by Woolworths, Secos CEO Ian Stacey said:

This expansion, along with growth being experienced across various customer groups, is expected to continue strong revenue growth for Secos into FY2022 and beyond.

Secos is pleased to broaden the store number with Woolworths and is pleased to see the hard work in launching new brands with Woolworths is yielding positive results. Secos also will see its products move to a more prominent position with the Woolworths store shelf plan.

The company said that volumes remain dependent on in-store sales growth. It added that the demand for compostable bags via retail chains is “significant”, and it expects demand to grow as consumer increasingly embrace sustainable practices.

The Secos share price is also getting a lift from the company’s forecast of additional growth opportunities for its products in grocery and convenience stores in Australia, Latin America and the United States. It added that many Australian Councils are in the process of issuing compostable bin liners to households.

Secos share price snapshot

No doubt about it, Secos shareholders will have little to complain about over the past 12 months. With today’s gains factored in, shares are up 342% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) has gained 31% over that same time.

Year-to-date the Secos share price has continued to outperform, up 26% so far in 2021.

The post Here’s why the Secos (ASX:SES) share price is rocketing 18% today appeared first on The Motley Fool Australia.

More reading

• ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound
• What I regret about my Afterpay (ASX:APT) shares: analyst
• ASX 200 rises, Woolworths acquisition approved, Austal in rough waters
• Woolworths (ASX:WOW) share price on watch after ACCC approves PFD deal
• Top brokers name 3 ASX shares to sell today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended SECOS Group Limited. The Motley Fool Australia owns shares of and has recommended Woolworths Limited. Bernd Struben 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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