The Anteotech Ltd (ASX: ADO) share price is up 9% this morning, after the company shared news it is to be a part of a major battery project.

AnteoTech will be the supplier of silicon composite to the Super Anode Project, a 4-year project designed to kickstart Australia’s battery industry.

Investors seem to be exited about the news too. After the company announced its participation, the AnteoTech share price rose to an intraday high of 28 cents, a 16.6% gain on yesterday’s closing price.

At the time of writing, the AnteoTech share price is trading for 26 cents apiece.   

Let’s look closer at AnteoTech’s news and the Super Anode Project.

Is this the beginning of the future for AnteoTech?

AnteoTech announced this morning that it has signed an agreement to participate in Future Battery Industries Cooperation Research Centre‘s (FBICRC) Super Anode Project.

As well as its involvement, AnteoTech estimates it will contribute $500,000 to the project and receive some intellectual property rights over the resulting technology. It assures investors it will retain all intellectual property rights of its products used in the project.

AnteoTech says its participation also gives it access to skilled researchers with sophisticated equipment to develop and refine its own silicon composite material. The project itself will also work towards achieving better performance from the company’s silicon composite material.

The Super Anode Project will work to complete two equally funded major tasks. Firstly, to develop Australia’s flake graphite production by changing processing measures, allowing Australia’s graphite to meet the standards of global battery manufacturers. Secondly, to develop high-capacity, silicon-containing anodes that meet future capacity requirements.

The FBICRC is made up of nearly 60 industry participants, 8 universities, the CSIRO and Federal and State Governments. It’s a 6-year research and development program targeting all points of the battery value chain to deliver commercial, proprietary outcomes. It hopes to allow Australia to become a future leader in battery industries.

It has a budget of around $130 million of cash and contributions.

Commentary from management

AnteoTech’s head of energy Manuel Wieser said its participation in the Super Anode Project will be a great opportunity to collaborate with other key players in the Australian battery industry.  

We have already demonstrated solid results with our in-house testing of half cell batteries. This Project will take our work to the next level providing scale-up, demonstration and validation opportunities for the silicon composite development work being undertaken by AnteoTech while creating a marketable product and expanding AnteoTech’s (intellectual property) portfolio.

AnteoTech share price snapshot

The AnteoTech share price is having a great year on the ASX so far.

Currently, it’s up 131.8% year to date. It’s also up by 1,175% over the last 12 months.

AnteoTech has a market capitalisation of around $449 million, with approximately 1.8 billion shares outstanding.

More reading

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• Why the AnteoTech (ASX:ADO) share price is surging 15% today

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 Fatfish Group Ltd (ASX: FFG) share price is up 6% in morning trade.

The ASX technology venture share came out of a 1 day trading halt this morning following the release of a fundraising update to the ASX.

We take a look at the details below.

What did Fatfish announce to the ASX this morning?

Fatfish shares are moving higher after the company reported that RightBridge Ventures AB – one of its Swedish subsidiaries – has successfully raised SEK55 million (AU$8.4 million) in funding.

RightBridge is a subsidiary of Fatfish’s Swedish subsidiary Abelco Investments Group AB.

The company said the funding round has a post-money valuation of $22.1 million.

Once the funding round is complete, Abelco will own approximately 53% of RightBridge, leaving Fatfish with a non-substantial stake of 0.6%.

At the same time, RightBridge is acquiring a 10.7% stake in Swedish-based Esports Pulze AB. The global esports platform operates epulze.com. According to the release, the platform has more than “400,000 registered users, hosted over 1,000,000 matches and held over 53,000 tournaments”. The acquisition furthers RightBridge’s business plan to become a leader in esports investment in the Scandinavian region.

Fatfish added that:

The funding round also implies the ability of a FFG’s subsidiary to attract independent funding from third-party institutional investors, without being solely dependent on FFG for funding. In fact, all of FFG’s major businesses have to date managed to secure significant third-party funding. This further validates FFG’s business model and acumen as an international tech venture builder.

Fatfish share price snapshot

Over the past 12 months, Fatfish shares have soared a remarkable 1,200% higher, racing past the 33% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Fatfish share price is up 225%. At the current price of 13 cents per share, Fatfish has a market cap of $122 million.

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Motley Fool contributor 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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In late morning trade on Friday the S&P/ASX 200 Index (ASX: XJO) has run out of steam and is tumbling lower. At the time of writing, the benchmark index is down 0.3% to 6,976.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 7% to 25.7 cents. This morning the surface chemicals company announced that it has executed a project participation agreement with the Future Battery Industries CRC for collaboration in the Super Anode Project. According to the release, the Super Anode Project is a four-year project with the aim of developing the materials, processes and cell-level technology to kick-start Australia’s battery industry.

EROAD Ltd (ASX: ERD)

The EROAD share price has climbed 5% to $4.61 after announcing a major new contract win. According to the release, the transportation technology services company has signed a five-year agreement with essential services provider Ventia. The deal will see Ventia install approximately 2,500 Ehubo 2 devices in their Australian fleet. This almost doubles the company’s current footprint in Australia.

Jindalee Resources Limited (ASX: JRL)

The Jindalee Resources share price is rocketing 27% higher to $2.33. This follows the release of an update on the mineral resource estimate of its 100% owned McDermitt Lithium Project in the United States. According to the release, the updated mineral resource estimate indicates that the company owns the largest lithium deposit in the United States based on contained lithium.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up almost 5% to $13.15. Investors have been buying Kogan and other tech shares on Friday after a solid night of trade for the Nasdaq index. The tech-focused index rose 1% after bond yields softened in the United States. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is up a decent 0.6%.

More reading

• AnteoTech (ASX:ADO) share price rockets 9% on major project news
• Here’s why the EROAD (ASX:ERD) share price is jumping 8% today
• Why the Jindalee Resources (ASX:JRL) share price is rocketing 55% higher
• Will the Kogan (ASX:KGN) share price making a comeback in April?
• This ASX tech company’s shares could be among those to watch over the next few years

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 Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Jeff Bezos made a surprising statement earlier this week.

The Amazon (NASDAQ: AMZN) chief came out in support of President Joe Biden’s $2 trillion infrastructure plan and even the corporate tax increases that are expected to accompany it. In a statement posted on Amazon’s website, he said:

We support the Biden administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen. We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate). We look forward to Congress and the administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness.

Like most big spending items, the bill is already proving to be controversial, and various business constituencies like the U.S. Chamber of Commerce have pushed back on the corporate tax increase. But Bezos is making a smart strategic move here.

Not only is Amazon poised to benefit in a number of ways from the investments included in the bill, but coming out in support of the bill could help the company curry favor with a government that has been eyeing antitrust restrictions for Amazon and its fellow tech giants. More important are the components of the bill itself, which will support both Amazon’s e-commerce business and its tech initiatives. 

All about infrastructure

When you think of infrastructure, you probably think of roads, and the Biden plan indeed promises to modernize 20,000 miles of highway. It will also provide funding to fix thousands of bridges, and upgrade ports, airports, and transit systems.

Arguably, no company will benefit more from such investment in transportation infrastructure than Amazon. Amazon is now the second-biggest U.S. company by revenue behind Walmart, bringing in $386 billion in revenue last year, $236 billion of which came from its North American e-commerce segment. Most of Amazon’s e-commerce sales come from third-party sellers, but Amazon only records a small percentage of those sales as revenue, so its gross merchandise volume (GMV), or the sales facilitated on its platform, is much higher than $236 billion in North America. In terms of GMV, Amazon is likely to soon pass Walmart, if it hasn’t already.

Expanding and improving highways, airports, and other transit systems will help Amazon achieve its goal of speedy delivery, and its promise of one-day delivery helps entice new sign-ups to Amazon Prime. Accelerating that further to same-day delivery would only increase the value proposition of Amazon Prime and the power of the loyalty program. 

Ports have been a particular pain point in the global supply chain recently, and as e-commerce grows, that’s only likely to get worse, making investments in ports especially valuable for Amazon. The Biden proposal aims to invest $17 billion in inland waterways, coastal ports, land ports of entry, and ferries. 

Expanding broadband infrastructure is also a key focus of the plan, which says that by one definition there are 30 million Americans living in areas where broadband isn’t available to provide internet access at minimally acceptable speeds. Those are all potential Amazon customers, not just for e-commerce, but also video streaming, Alexa, its voice-activated technology, and even its cloud-computing business, Amazon Web Services.   

Finally, the plan includes initiatives that dovetail with Amazon’s own goals in electric vehicles (EVs), for example, where the administration has proposed building a national network of 500,000 EV chargers. Amazon itself has ordered 100,000 electric delivery vans from Rivian and acquired Zoox, an EV start-up, last year, showing its interest in the emerging industry.

Amazon can stomach the tax increase

Biden also aims to raise the corporate tax rate from 21% to 28%, and the administration has received a fair amount of pushback from corporations and even Democratic senators like West Virginia’s Sen. Joe Manchin. However, here Amazon would also emerge a winner as the company can much more easily absorb a tax increase than many of its brick-and-mortar peers, and the company has demonstrated in the past that it’s been able to pay substantially less in taxes than the statutory rate due to credits and deductions for things like investments in research and development, and stock-based compensation. In 2017 and 2018, the company paid no federal income tax, and though it paid $1.8 billion last year, that only represented 9% of its U.S. net income of $20.2 billion. 

Between the tax increase and the investments in transit infrastructure and broadband, the infrastructure plan will not only benefit Amazon, but it will help the company extend its advantage over competitors, especially in areas like broadband. Given the proposal’s extensive overlap with Amazon’s own needs and priorities, coming out in support of it simply makes sense.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jeremy Bowman owns shares of Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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One structural story that still has many chapters left in it is the shift to the cloud.

The good news for investors is that there are a number of ways to gain exposure to it on the Australian share market.

Four ASX shares that look well-positioned to benefit from the cloud computing megatrend are listed below. Here’s what you need to know about them:

Goodman Group (ASX: GMG)

Among this integrated property company’s vast portfolio of assets are data centres. So this could make Goodman an option if you’re looking for exposure to the cloud. To date, the company has developed over 400,000 sqm of space and procured 585 MW of dedicated power across multiple regional platforms for a range of hyperscale and co-location data centre partners. Citi currently has a buy rating and $21.00 price target on Goodman’s shares.

Macquarie Telecom Group Ltd (ASX: MAQ)

Macquarie Telecom is a provider of telco and hosting services to corporate and government customers. It is the company’s hosting business that is expected to be the key driver of growth for the company over the coming years. In fact, you only need to look at its half year results to see this. For the six months ended 31 December, Macquarie Telecom delivered a 15% increase in EBITDA to $36.4 million. This was driven largely by a 23% increase in hosting EBITDA to $27.3 million. Last month Canaccord Genuity put a buy rating and $68.00 price target on its shares.

Megaport Ltd (ASX: MP1)

Another way to gain exposure to the cloud is with Megaport. It offers scalable bandwidth for public and private cloud connections, metro ethernet, and data centre backhaul. Megaport has networking equipment in hundreds of data centres around the world, which has created a software layer that provides an easy way for users to create and manage network connections. This means that through the Megaport network, users can create and run a global network with or without the need for physical infrastructure. Goldman Sachs currently has a buy rating and $15.55 price target on its shares.

NEXTDC Ltd (ASX: NXT)

Another company that has been benefiting greatly from the cloud computing boom is NextDC. Thanks to the ever-increasing amount of data being generated by consumers and businesses, demand for capacity in its data centres has been going through the roof. Positively, this week Goldman Sachs has been speaking to industry participants and found that demand remains very strong. In light of this, the broker has added its shares to its conviction buy list and lifted the price target on them to $15.00.

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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 has recommended MEGAPORT FPO. 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 Novatti Group Ltd (ASX: NOV) share price is soaring during mid-morning trade following an update on its Ripple partnership. At the time of writing, the digital banking and payments company’s shares are up 5% to 52 cents.

What’s driving the Novatti share price higher?

Novatti shares are firmly in the green as investors appear upbeat about the company’s future prospects.

According to this morning’s release, Novatti advised its recently signed partnership agreement with Ripple is now live.

Established in 2012, Ripple is a global payments company that provides real-time international funds transfer using blockchain technology. Ripple’s network comprises more than 300 customers across 40 countries and 6 continents.

Both parties entered into a partnership in December last year, enabling Novatti customers to access Ripple’s services.

Initially, the aim of the collaboration was to target cross-border transactions between Australia and the South East Asia region. However, with its main focus on the Philippines, Novatti united with remittance service provider, iRemit, through RippleNet.

iRemit is the Philippines’s largest non-bank, engaged in providing fund transfer and remittance services to overseas-based Filipino workers.

The deal is expected to generate several thousand transactions each month being processed by Novatti. This in-turn will lead to increases in revenues and margins for the company.

Novatti noted that further discussions are currently underway to add new South East Asia clients to its service.

Management commentary

Novatti managing director, Peter Cook commented:

Forming our partnership with Ripple was part of Novatti’s broader strategy to develop a banking and payments ecosystem that enables our existing platforms to scale quickly.

The early success of Novatti’s partnership with Ripple also highlights the benefits of our broader overseas expansion since the start of this year, with new licences obtained for the New Zealand market and Emersion now up and running in the US. As shown through Ripple, this expansion opens Novatti up to new revenue opportunities, and provides us with greater exposure to the global demand for digital payments that we expect to accelerate going forward.

The Novatti share price is up close to 300% in the past 12 months.

More reading

• Here’s why the Novatti (ASX:NOV) share price climbed today
• Novatti (ASX:NOV) share price sinks 6% on collaboration news

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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The PointsBet Holdings Ltd (ASX: PBH) share price was faced with heavy selling pressure in March, driven by concerns over the upcoming vote to legalise online sports betting in New York. 

A note from Deutsche Bank sparked the concerns, citing: 

Comments from NY politicians, as reported by affiliate media, appear far more pessimistic than those of several weeks ago around the prospects of NY legalising online sports betting in this session.

On Tuesday, it was announced that New York had officially approved legal online sports betting, but with a twist. 

New York legalises online sports betting 

New York announced that it had approved its budget for its fiscal year 2022. This includes allowing legal online wagering in the state for the first time. 

However, New York Governor Andrew Cuomo said he wanted to run the state’s sports betting industry through the New York Lottery, which is run by the government. 

Cuomo’s model aims to bring back as much revenue to the state as possible. This compares to many other states where revenues and profits sit with the bookmakers and casinos. 

Under Cuomo’s proposal, the New York Lottery will select two companies through a competitive bidding process to operate online betting. The winning platform providers can then associate with at least four additional brand partners, or what the industry refers to as ‘skins’. 

This has raised concerns by lawmakers for a potential lack of competition. States such as Pennsylvania and New Jersey allow for several casinos to legally operate to force higher competition for customers. 

What does this mean for the PointsBet share price? 

While the broader idea of legalising online sports betting in New York is good for PointsBet. Its adopted model could possibly block PointsBet from operating in the largest gambling state in the United States. 

The two largest sportsbook operators in the US, DraftKings and FanDuel are currently viewed to have an advantage in winning the licenses given its sheer size and revenues. 

New York aside, Goldman Sachs has taken a bullish view on the PointsBet share price. Its research note from 30 March comments: 

We see PBH as well-placed to carve out a niche share of the burgeoning US sports betting market, which we forecast to reach US$39 bn at maturity, implying a robust 40% CAGR out to 2033

The broker believes PointsBet’s growth will be underpinned by its 20-year partnership with Penn National Gaming for market access into a greater number of states and its five-year exclusive media partnership with broadcaster, NBCUniversal. 

It rated PointsBet as a buy with a $17.50 target price. With PointsBet shares currently fetching $13.98, this represents an upside of more than 25%. 

More reading

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• ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update
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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 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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If you’re on the lookout for the next Afterpay Ltd (ASX: APT) or Zip Co Ltd (ASX: Z1P) success story, then you might want to scour the small side of the market.

At this side of the market, there are a number of quality shares that have enormous potential. Here are a couple to watch:

Bigtincan Holdings Ltd (ASX: BTH)

The first small cap share to look at is Bigtincan. Its sales enablement software platform provides businesses with the information, content, and tools to sell more effectively.

Demand for the company’s platform has been growing strongly in recent years and continued to do so during the pandemic. This led to it recording strong recurring revenue growth in FY 2020.

Positively, Bigtincan has continued its strong growth in FY 2021. So much so, it is expecting to achieve the top end of its annualised recurring revenue (ARR) guidance range of $49 million to $53 million in FY 2021. This will be up 48% from FY 2020’s ARR of $35.8 million.

One broker that is particularly positive on the company is Morgan Stanley. It has an overweight rating and $1.40 price target on its shares.

MyDeal.com.au Limited (ASX: MYD)

Another small cap to watch is MyDeal.com.au. It is an online retail marketplace provider that has a focus on furniture, homewares, appliances, technology, baby products, and hardware.

It has also been a strong performer so far in FY 2021. For example, in February it released its half year results and revealed a 217% increase in gross sales to $126.7 million. This was driven by increased repeat purchases and a rise in its active customers to 813,764.

Looking ahead, the company appears well-placed for long term growth thanks to the ongoing shift to online shopping. This should be supported by the expansion of its higher margin private label range.

Morgans sees a lot of value in its shares at the current level. The broker currently has an add rating and $1.70 price target on its shares.

More reading

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• Will a retreating Reddit army trample the IOUpay (ASX:IOU) share price?
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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 BIGTINCAN FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Last year, with much of the United States still in the grip of pandemic-related delivery delays and restocking issues as well as general COVID-19 economic fallout, Amazon (NASDAQ: AMZN) postponed its Prime Day sales event from its usual July schedule to October. Prime Day, which actually lasts for several days, has become a significant “shopping holiday” for consumers who watch the giant retailer’s listings for bargains.

Compensating for last year’s delayed Prime Day, Amazon is planning to move the event up a month to June, according to several people providing information to Recode and other news outlets. The start date of the sale, which could span two days like 2020’s Prime Day, is still uncertain.

Prime Day, now in its seventh year, is likely to feature an even larger number of brands on sale than last year, Men’s Health reports. Some of the most popular discounted categories, based on previous years’ sales, are likely to be electronics and other tech items, household goods, and appliances.

Amazon is looking forward to continued success in the future, despite the drop-off in coronavirus related panic buying as COVID-19 ebbs. CEO Jeff Bezos expects the giant company to gain even more ground thanks to the Biden administration’s upcoming infrastructure plan. The plan includes road improvements that could speed delivery and broadband internet infrastructure expansion that could extend the reach of Amazon’s streaming video services and other online offerings into the more remote areas of the country.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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• Amazon is doubling down on this multibillion-dollar opportunity

Rhian Hunt has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Amazon planning its annual prime day event for June this year appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Coventry Group Ltd (ASX: CYG) share price is in focus this morning, after news of an acquisition. The supplier of industrial solutions has agreed to purchase Fluid Power Services Pty Ltd (FPS).

The Coventry Group share price closed at $1.16 yesterday and has remained flat in early trade so far.

Let’s look closer at the news Coventry released this morning.

New acquisition

Coventry Group is set to acquire Fluid Power Services, a Tasmania based provider of specialised hydraulic equipment.

It stated the acquisition will allow create a Tasmanian branch of the company’s Fluid Systems division.

FPS is said to be a leading provider of hydraulic products and engineering solutions in Tasmania. It has a diverse customer base and strategic supplier alliances with Rexroth and Hydac.

Coventry Group will purchase the Tasmanian company for $2.1 million, which it will pay in cash. The ability for a cash transaction comes from the group’s new financing facility with NAB, which it announced last week.

The release from Coventry Group stated FPS has had a total revenue of $4.9 million in the 2020 financial year. It also has an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.2 million.

The acquisition is planned to be finalised late this month. Although, Coventry Group has stated in the case of material adverse change, it may not go through with the acquisition.

Commentary from management

Coventry’s managing director and CEO Robert Bulluss said Coventry is pleased to welcome FPS to the group.

FPS is a well-run business that has delivered sales and earnings growth over an extended period. The business is highly complementary to our Fluid Systems business, further diversifying into non-mining markets and providing geographical coverage in Tasmania. FPS represents another compelling acquisition opportunity that is consistent with Coventry Group’s growth strategy and satisfies Coventry Group’s key acquisition criteria.

Coventry Group share price snapshot

The Coventry Group share price has had a good performance on the ASX lately. The group’s share price has risen by 17.6% year to date and is also up by 142.7% over the last 12 months

Coventry Group has a market capitalisation of around $104 million, with approximately 90 million shares outstanding.

More reading

• Here’s why the EROAD (ASX:ERD) share price is jumping 8% today
• Why the Electro Optic Systems (ASX:EOS) share price is charging 5% higher
• Why the Jindalee Resources (ASX:JRL) share price is rocketing 55% higher
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• This broker expects great things from Bank of Queensland’s (ASX:BOQ) results next week

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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