Investors of the ASX banking shares might be in for a treat in 2021. The ASX banks have proven to be great shares to own so far this year.

My, how the times change. Sure banks recovered nicely last year from the COVID-induced lows we saw back in March. But they were somewhat left in the dust by other ASX growth shares, especially those like Xero Limited (ASX: XRO) and Afterpay Ltd (ASX: APT) in the tech space. But 2021 has proven to be not such a great year for ASX tech shares. And that has opened the door for the ASX banks to come roaring back.

Just this week, Commonwealth Bank of Australia (ASX: CBA) hit a new all-time high of $98.84 a share. CBA shares are up close to 15% year to date and more than 60% over the past 12 months.

The other major ASX banks aren’t quite at their all-time highs. But all 3 have given investors solid performances so far in 2021. National Australia Bank Ltd. (ASX: NAB) shares are up 13% year to date. Australia and New Zealand Banking GrpLtd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) are up 18.5% and 28% year to date respectively.

Investors can largely thank the ASX banking shares for the new all-time high that the S&P/ASX 200 Index (ASX: XJO) hit last week. With some help from the miners like BHP Group Ltd (ASX: BHP) of course. Credit where credit’s due.

Bank share prices have recovered, are dividends next?

But could things get even better for ASX bank shareholders? Whilst bank shares have more or less got back to the pricing they were at just before the COVID crash last year, investors are still waiting for bank dividends to follow suit.

Well, according to reporting in the Australian Financial Review (AFR) this morning, indeed they can.

The AFR quotes Daniel Moore, co-portfolio manager of the Investors Mutual Australian Share Fund on the matter. Mr Moore reckons 2021 is shaping up to be  a great year for banking dividends:

We now have a strong platform going forward for economic activity and company earnings. All this indicates that the outlook for dividends in 2021 and beyond is strong, and payout ratios are likely to improve.

The AFR also spoke to Nathan Zaia, banking analyst at Morningstar. Mr Zaia expects bank investors might be able to enjoy some special dividends or share buybacks in the back half of 2021. That’s because the banks are still holding more capital than what the regulator APRA is demanding right now, as a result of the economic uncertainties of last year. He added the following:

I think the ordinary dividend payout ratios will be lifted across all the banks. For ANZ probably to around 65 per cent and 70 per cent, to 75 per cent for National Australia Bank and Westpac… The Commonwealth Bank could kick-start things in, but it isn’t a sure bet.

Foolish takeaway

ASX bank shareholders will no doubt be hoping that the predictions of these gentlemen come to pass. 2020 was a very sparse year for bank dividends (Westpac ended up cancelling its interim dividend entirely). It seems 2021 might just make up some of that shortfall if these predictions are to be believed.

More reading

• CSL (ASX:CSL) share price backtracks despite renewed optimism
• 2 top ASX dividend shares rated as buys
• Here are the US shares ASX investors were buying last week
• Australians are opening their wallets, says CBA report
• Exec jailed for ASX share market manipulation

Sebastian Bowen owns shares of National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and Xero. 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 market may be a sea of red on Wednesday but that hasn’t stopped the Appen Ltd (ASX: APX) share price from rocketing higher.

In afternoon trade, the artificial intelligence (AI) data services company’s shares are up a sizeable 16% to $13.07.

However, despite this strong gain, the Appen share price is still down a massive 70% from its 52-week high.

Why is the Appen share price rocketing higher today?

The catalyst for the rise in the Appen share price today was the release of a business and trading update this morning.

In respect to the former, Appen is restructuring its business to align to its product-led growth strategy and distinct customer propositions.

This will see the company operate with four customer-facing business units – Global, Enterprise, China, and Government.

Management believes the changes will provide greater visibility of the drivers and performance of the business. Furthermore, it notes that the changes reflect Appen’s evolution from being the leading provider of AI data annotation services to a provider of a broad range of AI data annotation products and solutions that unlock growth in new markets.

What else?

While the above is a positive move, the main driver of the Appen share price performance today is likely to have been its trading update.

Analysts were very disappointed recently when the company neglected to provide an update on its performance while presenting at the Macquarie Group Ltd (ASX: MQG) conference. Particularly given comments about changing behaviour from its customers and fears over increasing competition.

Positively, this morning the company provided the market with what it wanted and, as you might have guessed from the Appen share price, the news was positive.

According to the release, Appen is on track to achieve underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of US$83 million to US$90 million in FY 2021.

This is in line with its previous guidance of A$120 million to A$130 million (based on constant currency of 1 AUD = US$0.6904) and adjusted into US dollars to reflect a change in its reporting currency. It also represents growth of 18% to 28% year on year.

Shareholders will no doubt be hoping it is onwards and upwards for the Appen share price now things are becoming a little less uncertain.

More reading

• Why Appen, ELMO, Nuix, & Paradigm shares are pushing higher
• ASX 200 down 1.7%: Appen jumps 12%, EML Payments crashed 37%
• Appen (ASX:APX) share price on watch with restructuring
• These ASX tech shares are down 50% from their 52-week highs
• The Appen (ASX:APX) share price is 75% lower than its 52-week high

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 Appen Ltd. 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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Shares in BPM Minerals Ltd (ASX: BPM) have rocketed upwards on news of an acquisition and placement. At the time of writing the BPM share price is up an incredible 145.24%, with shares in the company swapping hands for 51.5 cents apiece.

BPM announced this morning it has entered into a binding heads of agreement to purchase all shares in Recharge Resources Pty Ltd, which holds 3 projects on the boundary of the Earaheedy Basin.

Market watchers might remember the announcement of a major lead and zinc discovery at the Earaheedy Basin by Rumble Resources Ltd (ASX: RTR) last month.

The BPM acquisition will be supported by a proposed $1.5 million private placement.

Let’s take a closer look at today’s news from mineral explorer.

Acquisition and placement

From its acquisition of Recharge Resources, BPM will gain the Hawkins, Ivan Well, and Rhodes projects.

Mining licenses for Hawkins and Rhodes are yet to be granted by the Western Australian Government.

The Hawkins project is just 40 kilometres from Rumble Resources’ Chinook Discovery.

According to BPM, Recharge’s Earaheedy Basin projects, together, cover 280 square kilometres of the same stratigraphic target zone as the Chinook Discovery.

Previous to the recent discovery of lead and zinc at Chinook, the Earaheedy Basin was known for its potential for iron ore and base metals.

Most previous drilling and soil sampling done at the Hawkins Project’s Pinnacles prospect hasn’t been assayed for iron or zinc. Meanwhile, drilling and soil sampling previously done at Ivan Well and Rhodes hasn’t been assayed for base metals. Though, surface sampling at Rhodes has found areas of high-grade iron.

Recharge also holds a single project in southern Western Australia.

BPM states it’s fully funded to complete 15,000 metres of drilling across the 3 Earaheedy Basin projects and 2 of its existing projects – an estimated cost of $5.2 million. It plans to conduct the drilling during the second half of 2021.

It’s also planning a $1.5 million private placement to support the acquisition and its future ventures. The placement will involve 7.5 million shares sold at 20 cents apiece, each with one free option with an exercise price of 25 cents. The options must be exercised by September 2025.

Cost of the acquisition

For the acquisition of Recharge Resources, BPM will provide its current holder, Borg Geoscience Pty Ltd, with 1.875 million shares in BMP at a deemed issue price of 20 cents apiece. It will also provide the same number of options with an exercise price of 25 cents, expiring in September 2025.

Borg Geoscience will also receive 2 million performance shares in BPM, subject to various vesting conditions, and 1% of the net smelter return on all products of Recharge’s tenements.

There will also be deferred payments given to Borg Geoscience 6 months after settlement or when Hawkins and Rhodes are granted exploration licenses, whichever is later. Upon those milestones, BPM will issue Borg Geoscience with the same amount of shares and options, with the same conditions, as before.

BPM Minerals share price snapshot

BPM executed its initial public offering (IPO) on 30 December 2020 and, before today, the company had not had a great start on the ASX.

Its shares were down 16% year to date when they entered a trading halt before the market opened on Monday.

Now, thanks to today’s rally, the BPM share price has gained around 108% since the start of the year. 

The company has a market capitalisation of around $12 million, with approximately 24 million shares outstanding.

More reading

• Up 760% in a year, the Rumble Resources (ASX:RTR) share price is falling today
• The Rumble Resources (ASX:RTR) share price is surging 26% today
• The Rumble Resources (ASX:RTR) share price is up 75% in 3 days

Motley Fool contributor Brooke Cooper 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 CSL Limited (ASX: CSL) share price is wobbling today despite picking up steam over the past few months. This follows the global biotech giant’s steady recovery in plasma collections, particularly in the United States.

At the time of writing, CSL shares are swapping hands for $272.86, down 1.57%. It’s worth noting that, regardless of today’s drop, CSL shares have continued to gain ground when looking at its performance from early March.

Plasma collections normalising

A possible catalyst pushing the CSL share price higher more recently is investor confidence in the company’s plasma levels.

CSL’s efforts to restore its critical ingredient for producing life-saving therapies has taken a positive turn. The company believes that plasma collections are beginning to normalise due to its increased marketing spend on incentivising new and lapsed donors.

Particularly, centres across the United States and Mexico border have seen a good response rate, nearing pre-COVID plasma collection numbers.

However, university donation centres have slowed to a standstill. This is due to the shift in remote online studying. CSL predicts that these levels will return when COVID-19 vaccinations become more available to mass populations.

The company has undertaken a range of initiatives to entice people to donate blood. This includes using social media influencers, speeding up the donation sign-up and check-in process, and paying donors more for blood. The latter has increased from US$825 to US$1,100 for each new donors first 8 blood donations. Existing donors are also receiving higher payments to attract people coming back.

Local vaccine production opportunity

In other news also helping support CSL shares, the company has signalled its interest in producing next-generation vaccines in Australia.

As COVID-19 has highlighted, Australia is vulnerable to international companies producing mRNA vaccines and delivering them here onshore.

As a result, the federal government is in discussions with CSL about how to establish local mRNA manufacturing capacity.

Currently, the company is producing 1 million doses of the AstraZeneca vaccine per week. So far, 3.2 million Australians have been vaccinated from COVID-19, with CSL noting that 5.5 million vials have been released as of last week.

This comes in the backdrop of the Australian government signing a deal with Moderna Inc (NASDAQ: MRNA) for its COVID-19 vaccine.

CSL share price performance review

Since hitting a 52-week low of $242 in March this year, CSL shares have rebounded over the last few months. Interestingly, the company’s share price is at the same level the day it released its half-year results for FY21.

On valuation grounds, CSL is the third-largest company listed on the ASX, with a market capitalisation of $126 billion. That puts it just behind Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd(ASX: BHP).

More reading

• Why BHP, EML Payments, Laybuy, & St Barbara are sinking today
• Why is the Pushpay (ASX:PPH) share price down 13% this year?
• 2 ASX shares I hold that I’d still buy more of: fundie
• Here are the US shares ASX investors were buying last week
• Why these ASX lithium shares are down for a 5th straight session?

Aaron Teboneras owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Moderna Inc. 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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Amid a day of carnage on the ASX, the European Metals Holdings Ltd (ASX: EMH) share price is flying higher. Up by 20.35% at one point today, it has since retreated to $1.275 – still up an impressive 10.39%. For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently down by 1.83%.

Today’s gains come after the company announced it has the ability to produce battery-grade lithium carbonate.

Let’s take a closer look at today’s news from European Metals.

European Metals share price rides the lithium train

In a statement to the ASX, European Metals said, after successful locked-cycle tests (LCT), it is clear its Cinovec lithium project has the capacity to produce battery-grade lithium carbonate. Cinovec is located on the border between Germany and the Czech Republic.

According to the company, battery-grade lithium carbonate was produced in every LCT. In four LCTs, lithium recoveries of up to 92% were observed.

Lithium is surging on the commodities market as demand for electric vehicles explodes. It is an essential component in the manufacture of batteries for electric cars. Lithium is currently trading at around US$13,800 per tonne. According to the website Trading Economics, the metal’s value has increased an incredible 91.4% since the beginning of this year.

The rising price of lithium, combined with today’s announcement, seems to have investors pretty pumped over European Metals shares today.

Management commentary

European Metals executive chair Keith Coughlan said:

In a significant vote of confidence for our Pre-Feasibility Study, the proposed process methodology has been confirmed by excellent locked-cycle test results which also include new processes involving recycle streams.

The recovery of up to 92% of the lithium in the zinnwaldite concentrate at this early stage of DFS test work is very promising for increased recoveries during the planned process optimisation work. Further, an improved fluoride removal step, which is cheaper and cleaner, represents only the beginning of further optimisation work which we expect will result in greater lithium recoveries and even stronger economics for the Cinovec Project.

We look forward to providing further updates on the Definitive Feasibility Study work as it unfolds.

European Metals share price snapshot

Over the past 12 months, the European Metals share price has increased by almost 480%. However, since reaching an all-time high of $1.92 in March, the company’s value has fallen by around 34%.

Given 175.1 million shares outstanding, European Metals has a market capitalisation of approximately $219 million.

More reading

• Why BHP, EML Payments, Laybuy, & St Barbara are sinking today
• Bitcoin price woes continue as China cracks down on cryptocurrency
• Here’s why the BARD1 (ASX:BD1) share price is crushing it today
• Money3 (ASX:MNY) share price on the rise after positive update
• Why Appen, ELMO, Nuix, & Paradigm shares are pushing higher

Motley Fool contributor Marc Sidarous 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 S&P/ASX 200 Index (ASX: XJO) is under significant pressure on Wednesday. In afternoon trade, the benchmark index is down 1.75% to 6,941.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

BHP Group Ltd (ASX: BHP)

The BHP share price is down 3% to $48.97. This appears to be in relation to comments out of Beijing on Tuesday. The Chinese government stated that it plans to increase its domestic iron ore production and exploration and widen import channels in an effort to become less reliant on Australian iron ore.

EML Payments Ltd (ASX: EML)

The EML Payments share price has crashed 40% to $3.11. The catalyst for this is news that the Central Bank of Ireland has raised concerns over EML Payments’ PFS Card Services Ireland business. The central bank’s concerns are in relation to Anti-Money Laundering/Counter Terrorism Financing matters. Management notes that 27% of its total revenue goes through this business. The worst case scenario could see the business lose its financial service authorisation in the market.

Laybuy Holdings Ltd (ASX: LBY)

The Laybuy share price has fallen 14% to 58.5 cents. This follows the successful completion of the buy now pay later provider’s capital raising this morning. According to the release, Laybuy raised $35 million at a 26.5% discount of 50 cents per new share. It will now seek to raise a further $5 million from retail investors at the same price. These funds will be used to accelerate its growth in the UK market.

St Barbara Ltd (ASX: SBM)

The St Barbara share price has fallen a further 6% to $1.75. This gold miner’s shares were sold off on Tuesday after it downgraded its production guidance and increased its cost guidance for FY 2021. This didn’t go down well with analysts at Macquarie. In response, they have downgraded its shares to an underperform rating and cut their price target to $1.80.

More reading

• ASX 200 down 1.7%: Appen jumps 12%, EML Payments crashed 37%
• Why the Laybuy (ASX:LBY) share price is tumbling 15% lower today
• Top brokers name 3 ASX shares to buy today
• Why the EML Payments (ASX:EML) share price is crashing 52% lower
• Why is the Pushpay (ASX:PPH) share price down 13% this year?

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 EML Payments. The Motley Fool Australia has recommended EML 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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Bitcoin (CRYPTO: BTC) woes continue to pile up this month as China announced its sweeping ban against financial institutions and payment companies providing services related to cryptocurrency. 

China’s hard stance on cryptocurrency

In a joint statement from the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China, the government bodies said: 

Recently, virtual currency prices have soared and plummeted, and virtual currency trading speculation has rebounded, which has seriously infringed on the safety of the people’s property and disrupted the normal economic and financial order.

Virtual currency is a specific virtual commodity that is not issued by the monetary authority, has no monetary properties such as legal compensation and compulsion, is not a real currency, and should not and cannot be used as currency in the market.

Alongside bans against financial and payment institutions from cryptocurrency-related activities, the move also prohibited activities such as the marketing and promotion of virtual currency-related business activities. 

The statement encouraged individuals to improve their financial awareness and understanding of risks, saying: 

Virtual currency has no real value support, and prices are extremely easy to be manipulated. Related speculative trading activities have multiple risks such as false asset risks, business failure risks, and investment speculation risks.

Consumers must increase their risk awareness, establish correct investment concepts, refrain from participating in virtual currency trading hype activities, and beware of personal property and rights damage. Personal bank accounts should be cherished and not used for virtual currency account recharge and withdrawal, purchase and sale-related transaction recharge codes, and transfer of relevant transaction funds, etc., to prevent illegal use and personal information leakage.

Bitcoin price continues to slide 

China’s hard stance against cryptocurrencies adds to recent Bitcoin price woes. Last week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk announced the company would no longer accept Bitcoin as a payment option. 

Bitcoin has now hit a 4-month low of US$41,300 at the time of writing. The Bitcoin price has slumped 10% this week alone and is down more than 30% since its all-time high of US$64,854 reached on 14 April. 

More reading

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• Bitcoin’s next step forward aims to address adoption hurdles
• Why these 3 experts aren’t worried about the tumbling Bitcoin price

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 recommends Bitcoin and 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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BARD1 Life Sciences Ltd (ASX: BD1) shares are galloping into the green today. This follows the company announcing it is presenting EXO-NET data at the International Society for Extracellular Vesicles conference.

At the time of writing, the BARD1 share price is trading at $2.62, up 6.5%.

EXO-NET data rallies shares

Investors are buying up BARD1 shares today on the back of the company’s presentation of EXO-NET data.

Yesterday, the company announced it will launch its EXO-NET product at the virtual International Society of Extracellular Vesicles (ISEV) annual meeting. The product is the first to be produced on the company’s molecular NET technology.

The conference is a hub for showcasing the best in extracellular vesicle science. BARD1 is presenting the results of its EXO-NET product at the conference. According to the company, EXO-NET is shown to be a novel approach for the rapid, pure, and high-yield capture of exosomes from complex samples. Such samples include body fluids such as plasma, urine, and saliva.

According to the release, BARD1 researchers showed that EXO-NET provides superior exosome-specific nucleic acid and protein yield and purity compared to market-leading products and methods.

An important trait, the new product can capture exosomes in 15 minutes.

Management commentary

Commenting on the opportunity for BARD1’s latest product, chief scientific officer Dr Peter French said:

Being able to showcase the superior performance, flexibility and ease of use of EXO-NET on the global stage at ISEV2021 provides the Company with a great opportunity to embed EXO-NET into a range of research projects that are isolating and characterising exosomes for potential diagnostic and therapeutic applications.

Adding to these comments, CEO Dr Leearne Hinch stated:

It is exciting to release the results of our exosome research demonstrating that our next-generation EXO-NET product out-performed competitor products capturing exosomes rapidly, with high purity and yield from complex biofluids. EXO-NET has the potential to become the exosome isolation product of choice for researchers globally.

Unsurprisingly, the optimistic commentary surrounding the product has the BARD1 share price picking up in today’s trade.

BARD1 share price recap

Despite a 36% fall from its 52-week high, the BARD1 share price has delivered superior returns over the last 12 months. While the S&P/ASX 200 Index (ASX: XJO) has gained around 25% in the past year, BARD1 shares have skyrocketed by more than 235%. 

Accounting for today’s move in the BARD1 share price, the company’s market capitalisation now stands at $197 million. 

More reading

• Why the BARD1 (ASX:BD1) share price is on the rise today
• Why is the BARD1 (ASX:BD1) share price jumping today?

Motley Fool contributor Mitchell Lawler 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 Money3 Corp Ltd (ASX: MNY) share price is on the rise today after a rocky start. This movement comes after the company announced a positive update to the ASX.

At the time of writing, the financial services company’s shares are exchanging hands for $2.89, up 0.7%.

Quick take on Money3

Founded in 2000, the Victorian-based business specialises in non-bank automotive finance throughout Australia and New Zealand. This includes flexible secured and unsecured personal loans for a period of up to 5 years. Money3’s brands include Cash Train and Personal Finance Co.

Money3 upgrades guidance

Investors are warming to Money3’s encouraging release.

In a statement to the ASX, Money3 advised that due to improved trading conditions, it expects its net profit after tax (NPAT) to increase. This is based on the company’s strong new loan originations which recorded a compound annual growth rate (CAGR) of 30.2%. In addition, favourable economic conditions along with anticipated cash collections during Q4 FY21 is driving the profit expectation.

Accordingly, Money3 upgraded its profit guidance for FY21 to $38 million. This represents a jump from the $36 million that was previously indicated in its February half-year results.

Comments from the CEO

Money3 CEO, Scott Baldwin touched on the company’s progress, commenting:

We continue to experience strong organic new loan originations through the second half of the financial year and expect this trend to continue into FY22.

While the forecasted result is uplifting, used vehicle pricing is predicted to stabilise. The company estimates to carry a large number of pre-approved loans in FY22, due to delays in new asset delivery.

How has the Money3 share price performed?

Over the last 12 months, Money3 shares have moved higher to post a gain of more than 80% for investors. The company’s share price reached an all-time high of $3.38 in late April, before heading lower from profit-taking.

Based on today’s price, Money3 presides a market capitalisation of roughly $580 million, with 208 million shares outstanding.

More reading

• Why the Money3 (ASX:MNY) share price just hit an all-time high

Motley Fool contributor Aaron Teboneras 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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In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.8% to 6,937.6 points.

Four ASX shares that haven’t let that hold them back are listed below. Here’s why they are pushing higher:

Appen Ltd (ASX: APX)

The Appen share price has jumped 11.5% to $12.53. Investors have been buying the embattled artificial intelligence data services company’s shares after it announced a new organisational structure. The new structure is aligned to its product-led and customer-centric strategy. In addition to this, Appen reaffirmed its guidance for FY 2021.

ELMO Software Ltd (ASX: ELO)

The ELMO share price is up 1% to $4.68. This gain appears to have been driven by a broker note out of Morgan Stanley this morning. In response to the company’s trading update on Tuesday, Morgan Stanley has retained its overweight rating and lofty $9.70 price target on its shares.

Nuix Ltd (ASX: NXL)

The Nuix share price has risen 5.5% to $3.69. This also appears to have been driven by a broker note out of Morgan Stanley today. In response to the analytics company’s investor briefing yesterday, the broker has held firm with its overweight rating and $7.50 price target. Morgan Stanley left the event feeling positive about the industry and Nuix’s future. Though, it acknowledges that it may take for time for the market to become as confident.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm Biopharmaceuticals share price has climbed 5% to $2.20 after reporting its first revenue. This morning the biopharmaceutical company revealed that it has generated revenue from the provision of its Zilosul product under the pay-for-use Special Access Scheme. While no figures have been provided, management warned that revenues would be modest at this stage.

More reading

• Nuix (ASX:NXL) share price up 6% despite fresh claims of bad business
• ASX 200 down 1.7%: Appen jumps 12%, EML Payments crashed 37%
• Top brokers name 3 ASX shares to buy today
• Appen (ASX:APX) share price on watch with restructuring
• ASX 200 rises, Nuix jumps, James Hardie drops

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 Elmo Software. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Elmo Software and Nuix Pty 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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