The Zenith Minerals Ltd (ASX: ZNC) share price is on an absolute tear. At the time of writing, the lithium miner is trading for 20 cents per share. It is down on today’s intraday (and 1-year) high of 21.5 cents a share — which marked a 66% gain — but is still 50% higher than the previous day’s close.

The positive price movement comes as the company announced “high-grade” zinc-lead discoveries at one of its mining projects.

By contrast, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.19%.

Let’s take a closer look at today’s announcement and how it might be affecting the Zenith share price.

What’s up with the Zenith share price?

In conjunction with Rumble Resources Ltd (ASX: RTR), Zenith announced promising zinc-lead results from two drill holes at the Chinook Prospect joint-venture in Western Australia. Zenith has a 25% stake at the site.

The two drill hole results are as follows:

1. a 34m wide ore that is 4.22% zinc and lead from 66m depth, including 17m that is 6.5% zinc and lead.
2. a 21m wide ore that is 4.3% zinc and lead from 61m depth.

From these results, Zenith stated the site has the potential to be at “the upper end of the existing Exploration Target.”

The Rumble Resources and Zenith share price surges look to be a vote of confidence by investors in this latest announcement.

Management commentary

Speaking on today’s news, Zenith Chair Peter Bird said:

These initial results from the Earaheedy JV Property appear to be exceptional, as announced by Joint Venture Partner Rumble Resources it is the intention that Rumble will aggressively progress the exploration activities on the property in an attempt to validate the Exploration Target estimate. Although at an early stage of investigation we are beginning to demonstrate that this project could be of very significant scale.

He added:

We will continue to be very supportive of these activities. Zenith retains a 25% Free Carried Interest in the Joint Venture to the point of Bankable Feasibility completion. In addition, both parties hold a Pre-Emptive Right over the counterparty’s respective equity stakes. Earaheedy is shaping up as a very exciting proposition for both parties.

Zenith share price snapshot

Over the past 12 months, the Zenith share price has increased by 300%. Today’s closing price is the highest the company’s shares have achieved since July 2018.

Zenith has a market capitalisation of $50 million.

More reading

• Why the Rumble Resources (ASX:RTR) share price is rocketing 90% today
• Why the Rumble Resources (ASX:RTR) share price is surging 28% today

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 CSL Ltd (ASX: CSL) share price has continued to trade sideways despite the S&P/ASX 200 Index (ASX: XJO) running around 6% higher year to date. 

The ASX 200 is now within 2% of its pre-COVID high, but the CSL share price needs to add another 25% to be in a similar position. After what seemed like strong half-year results back in February, what’s next for the CSL share price? 

CSL share price impacted by plasma collections

Plasma is an essential raw material for CSL Behring’s immunoglobulins, which generated US$4,256 million of the group’s US$5,739 million revenue in the first half of FY21.

The pandemic has adversely affected plasma collections, with December 2020 collection volumes representing ~80% of December 2019 volumes. Plasma collections are arguably a factor that could sink or swim the CSL share price in the near term. 

The looming shortage has even seen the company turn to the public for ideas on how to get the community to step up plasma donations. CSL is offering $40,000 and mentorship as a reward for the winning idea. 

What does the broker say?

A note from Macquarie on 26 March observed that foot traffic across approximately 100 of CSL’s US-based plasma collection centres had fallen below levels recorded in July-December 2020. 

In this note, the broker acknowledged that seasonality tended to play a role in the weakness experienced across late February and early March. Often associated with the timing of annual tax returns.

Moving through this period, the broker expected collections to improve from mid-March through to June. With these assumptions in mind, it retained a neutral rating for the CSL share price with a $288 target price. 

On Monday, Macquarie provided an update highlighting that collection centre foot traffic had yet to show a sustained improvement. The broker observes that foot traffic within the centres had eased in April after declines from mid-March. 

Without the anticipated improvement in plasma collections, Macquarie now expects lower immunoglobulin related revenue growth in FY22. 

The broker retained its neutral rating and lowered its target price from $288 to $282.50. This represents an upside of 5%, but the pressure is on the CSL to lift its plasma collections. 

More reading

• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• 2 five-star stocks to buy
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• ASX 200 rises above 7,000, Resolute Mining soars, Galaxy jumps

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 CSL Ltd. 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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Keen investors will monitor the share prices for a batch of ASX-listed companies on Monday after a two-way travel bubble between Australia and New Zealand started operating.

The agreement between the two countries took effect late Sunday night AEST. This means travellers from either side no longer have to undergo mandatory COVID-19 quarantine in either country.

Qantas Airways Limited (ASX: QAN) and its budget brand Jetstar on Monday resumed all of its pre-COVID flights to New Zealand, plus a new route between the Gold Coast and Auckland.

“Quarantine-free travel has been almost 400 days in the making,” said Qantas chief executive Alan Joyce at Sydney Airport Holdings Pty Ltd (ASX: SYD).

“Reopening these flights across the Tasman is a very important milestone in the recovery from the pandemic for Australia and New Zealand but also aviation and tourism.”

Joyce added the bubble is also a boon for family and friends reuniting after more than a year apart.

“It means we’ll be able to get more planes back in the sky and more of our people back to work,” he said.

“New Zealand was Australia’s second biggest source of international visitors before the pandemic. Today, it’s about to go straight to number one.”

Oddly, Qantas shares were down 1.54% on Monday afternoon, to trade at $5.10. But that’s still 64% up on its 52-week low of $3.12.

Sydney Airport stocks also dipped, trading at $6.08, which is 0.49% down on Monday.

Meanwhile, Air New Zealand Limited (ASX: AIZ) shares were faring much better, up 1.12% to trade at $1.80 on Monday afternoon. 

Auckland International Airport Limited (ASX: AIA) stocks were also flying high, soaring more than 4% to trade at $7.73.

Air New Zealand stated earlier this month that trans-Tasman travel accounted for about 20% of the company’s pre-pandemic revenue.

The Kiwi carrier resumed flights to 9 Australian destinations on Monday, with capacity at 70% of pre-coronavirus levels.

Joyce said New Zealand flights have been popular since the bubble was announced on 6 April.

“We’ve seen strong demand since the bubble was announced, with tens of thousands of bookings made in the first few days. We’ve also added more flights to Queenstown to meet expected demand during the peak ski season.”

What if there’s a COVID breakout somewhere in Australia or NZ?

With many people still shy about committing to a trans-Tasman trip due to the unpredictability of border closures, tourism companies have sought to provide flexible terms.

Qantas, for example, is offering unlimited zero-fee date changes for bookings made before 31 July for travel on or before 22 February 2022.

Budget brand Jetstar is allowing passengers to purchase an add-on to their tickets that would allow them to cancel for any reason.

Gold frequent flyers and Qantas Club members are also allowed into the First Class lounges in Sydney and Melbourne temporarily.

New Zealand prime minister Jacinda Ardern indicated earlier this month that any border restrictions might come on a state-by-state basis, depending on the severity of the outbreak.

More reading

• Airbnb predicts huge rebound, ASX travel shares in the hot seat
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Why brokers are bullish on the Qantas (ASX:QAN) share price
• Can the Flight Centre (ASX:FLT) share price continue to rise?
• Brokers name 3 ASX shares to buy now

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited and Sydney Airport Holdings Limited. 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 OptiScan Imaging Limited (ASX: OIL) share price is one of the best performers on the ASX today. This comes after the company announced the strategic appointment of a highly experienced industry executive.

At the time of writing, the imagining medical technology company’s shares are fetching 32 cents apiece, up 26%. It’s worth noting that today’s monumental gain now puts OptiScan shares into an all-time high.

What’s driving the OptiScan share price higher?

Investors appear excited about the company’s latest inclusion, sending OptiScan shares into new territory.

In its announcement, OptiScan advised it has appointed Mr Robert Cooke as non-executive chair to the board.

The company highlighted Mr Cooke’s extensive experience in the health industry, noting over 40 years of service. In this time, Mr Cooke has held important roles in both public and private companies in Australia, Asia, and the United Kingdom. Most notably, Mr Cooke served as managing director and CEO of Healthscope from 2010 until 2017. Healthscope is one of Australia’s leading private hospital, medical centre, and pathology operators.

Currently, Mr Cooke is a non-executive director of Icon Group as well as Evercare Group.

Following the appointment, David Lurie will take over the reins and become managing director of the company.

Management commentary

Mr Cooke commented on the appointment, saying:

I am excited to join the Board of the Company as the Chair and to support the current team at OptiScan in the next stage of its dynamic growth plans.

With its collaborations with world-class research and medical institutions, the Company is well-placed to embark on the global commercialisation of its world- leading technology in Oral cancer screening and surgery as well as pursuing additional clinical applications.

The ability of OptiScan’s unique confocal technology to provide instantaneous, live imaging at a cellular level has the opportunity to revolutionise cancer screening and surgical practices with the resulting benefits for patient care

OptiScan new managing director, David Lurie went on to add:

It is a fantastic opportunity for OptiScan to secure someone of Mr Cooke’s capabilities and track record to lead our board. His knowledge of international corporate activity and multiple aspects of the health care sector including private health, pathology, pharmacy, radiology and IVF will provide enormous benefit to the company.

The OptiScan share price has gained close to 900% over the past 12 months, and is up almost 200% year-to-date.

More reading

• Australia-NZ bubble now open! The 4 ASX shares impacted
• Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’
• Why GPT, Mayne Pharma, Talga, & Zip shares are tumbling lower
• Why has the Advanced Human Imaging (ASX:AHI) share price plunged 5%?
• 3 ASX retail shares at record highs

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 Wesfarmers Ltd (ASX: WES) share price continues to climb today, adding to strong gains this past month.

At the time of writing, the Wesfarmers share price is up 0.5% to $55.94 per share, putting its gains over the past month at just under 10%.

Wesfarmers is a diversified Australian business with broad business operations including home improvement and outdoor living, apparel and general merchandise, office supplies; and an industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products.

From its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies trading on the ASX. Headquartered in Perth, Western Australia, Wesfarmers subsidiaries include household names such as Bunnings Warehouse, Kmart Australia, Officeworks and more.

Strong online search interest

The company’s strong performance online is one factor that could have provided the impetus for the Wesfarmers share price’s 10% gains this past month. 

Recent research from Macquarie looked at Google Trends data and found that Wesfarmers-owned Kmart leads in digital interest in home retail. Similarly, Wesfarmers-owned hardware giant Bunnings leads online hardware searches.

Bunnings has become a retail goliath in Australia with little clear competition since the demise of Woolworths (ASX: WOW) -owned Masters.

As the Motley Fool reported earlier this month, Wesfarmers has an enviable position with its brand stable. Bunnings is Australia’s leading hardware retailer, Officeworks is the leading office supplies retailer, Kmart is the leading discount retailer.

Meanwhile, Wesfarmers’ would-be Australian online Amazon-rival, Catch, is expanding as an online retailer. 

However, while online search interest in Bunnings and Kmart has been strong, interest has fallen over recent months in both Catch and Officeworks, which both showed heightened interest in the November to January period.

“Wesfarmers has seen favourable momentum in Bunnings and Kmart for online search activity as value remains a key driver for consumers,” Macquarie said, as quoted by News.com.au.

“As expected, Easter long weekend led to heightened search interest, as people continue home-improvement projects.”

Wesfarmers share price snapshot

Wesfarmers hasn’t released a price-sensitive market update since its 2021 half-year FY21 report on 18 February, where it announced a 16% increase in total revenue.

The Wesfarmers share price has continued to rise steadily though, adding 3% the past week and 10% the past month, creating a 46% gain over the past 12 months.

More reading

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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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 S&P/ASX 200 Index (ASX: XJO) has started the week in a mildly positive fashion. In afternoon trade, the benchmark index is up 0.2% to 7,076.3 points.

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

GPT Group (ASX: GPT)

The GPT share price is down 3% to $4.67. Investors have been selling the property investment company’s shares after it released its guidance for the full year. According to the release, GPT advised that it expects to deliver year on year funds from operations (FFO) growth of 8% and distribution per security growth of 12% in FY 2021. While this is positive, it appears as though the market was expecting more.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price has fallen 6.5% to 47.7 cents. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the pharmaceutical company’s shares to an underperform rating with an improved price target on 38 cents. While it notes that the FDA has just approved its Nextstellis contraceptive product, it isn’t enough to become more positive. Macquarie expects business conditions to remain subdued in the short term.

Talga Group Ltd (ASX: TLG)

The Talga share price has tumbled 5% lower to $1.37. This is despite the company providing an update on its electric vehicle anode (EVA) qualification plant. According to the release, designs for the plant have been finalised and engineering work is progressing well. It has now placed orders for the materials and equipment needed to build the plant. Talga hopes to commence its EVA plant’s installation in the fourth quarter of 2021.

Zip Co Ltd (ASX: Z1P)

The Zip share price has dropped 4% to $9.00. This decline appears to have been driven by profit taking following a very strong gain last week. In fact, the Zip share price was the best performer on the ASX 200 last week with a gain of 13%. One broker that believes it can still go higher is Citi. Last week it upgraded its shares to a buy rating with an $11.30 price target.

More reading

• Why the GPT (ASX:GPT) share price is sliding today
• Top broker picks ASX shares next in line for a profit upgrade
• Why is the Talga (ASX:TLG) share price dipping today?
• These 3 ASX shares have just hit 52-week highs or better
• Commonwealth Bank (ASX:CBA) CEO hits out at Afterpay and BNPL providers

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 ZIPCOLTD FPO. 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 Advanced Human Imaging Ltd (ASX: AHI) share price is sinking on its first day of trading in nearly 3 weeks. The image capture and dimensioning technology provider, formerly known as MyFiziq, ended its prolonged trading halt this morning with 2 pieces of seemingly positive news.

Despite the good news, the Advanced Human Imaging share price has plunged 5.3% and is swapping hands for $1.94 at the time of writing. An improvement, at least, on the intraday low of $1.85 that it plummeted to in opening trade.

Let’s take a closer look at the 2 announcements the company shared this morning.

Agreements with Triage

Today, Advanced Human Imaging shared news of a binding technology license and a subscription agreement with Canada-based Triage Technologies Inc.

Through the agreements, Advanced Human Imaging will use Triage’s dermatological AI system in its CompleteScan product. In return, the Advanced Human Imaging team will improve Triage’s AI engine to provide an on-device application for consumers.

According to Triage, its AI program can identify 588 skin conditions, including all skin cancers. The company claims it is more effective in correctly identifying skin conditions than dermatologists.

Triage received a USA patent for its system in 2020 and expects further jurisdictions to follow.

Advanced Human Imaging’s CompleteScan is a mobile-based app that analyses photos of a users’ skin, face and body to provide a total health assessment.

As part of the agreement, Advanced Human Imaging will pay Triage US$3 million, US$600,000 of which is already paid. Advanced Human Imaging stated that some of these payments are ‘at call’ and are not binding commitments.

The payments will be spread out over 14 months as, while the company has the funds needed for the initial payments, the remaining payments will be made up of its cash flow or additional capital.

Advanced Human Imaging is also taking a strategic equity stake in Triage.

Letter of intent to acquire Physimax

The second piece of news out of Advanced Human Imaging today is its letter of intent to acquire Israel-based Physimax Technologies Limited.

Advanced Human Imaging has offered to purchase Physimax for US$6 million worth of its own shares. It has also agreed to issue a further US$2 million worth of shares through an earn-out agreement, the terms of which are yet to be released.

Physimax is a musculoskeletal assessment company. It has developed and patented software that tracks and improves musculoskeletal wellness and performance, using videos captured on mobile phones.

The technology does not need wearables. Instead, it measures and scores mobility, stability, strength, and movement control using movement patterns and analysis.

Its assessment is then paired with an AI-delivered, personalised workout program.

Physimax’s software is used by healthcare providers, the NFL, NBA, pro-soccer teams and US military units.

Commentary from management

Advanced Human Imaging chair and CEO Vlado Bosanac commented on the agreement with Triage, saying:

By bringing in platforms like personal health/wellness and medical checking application, the addition of Triage not only broadens user/market interest in AHI capability, but also generates better service by combining all these functionalities directly on the smartphone/mobile device.

Mr Bosanac added that Physimax would be a welcome addition to the AHI MultiScan platform.

The Physimax team has spent 7 years developing, validating and commercialising the technology and has seen broad acceptance of the application worldwide with over 250,000 scans performed to date…

We will continue to identify opportunities of this kind that are complementary to the AHI offering, with a view to either a partnership or when advantageous, acquisition.

Advanced Human Imaging share price snapshot

The Advanced Human Imaging share price has bloomed on the ASX recently.

While it got off to a slow start this year, it’s currently up by 52% year to date. It’s also up a whopping 1,118% over the last 12 months.

The company has a market capitalisation of around $276 million, with approximately 134 million shares outstanding.

More reading

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• Why the ClearVue (ASX:CPV) share price just hit an all-time high
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• Why Eagers Auto, Orocobre, Sims, & Titomic shares are storming higher
• Smartpay (ASX:SMP) share price lifts on fourth quarter trading update

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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While the market as a whole has been in fine form in 2021, one area of the market performing particularly strongly has been the retail sector.

For example, since the start of the year, the S&P/ASX 200 Consumer Discretionary Sector (ASX: XDJ) has climbed an impressive 11.1%. This compares to a solid 5.9% gain by the S&P/ASX 200 Index (ASX: XJO).

In light of this, it will come as no surprise to learn that a number of retail shares have been pushing notably higher this year. Some have even managed to climb to 52-week highs or better today.

Here’s why these ASX retail shares are scaling new heights:

Adairs Ltd (ASX: ADH)

The Adairs share price climbed to a record high of $4.60 today. Investors have been fighting to get hold of this homewares retailer’s shares in 2021 thanks to a very strong performance in the first half. For the six months ended 31 December, Adairs reported a 34.8% increase in group sales to $243 million. This was driven by a 20.9% increase in Adairs sales, a 44.4% jump in Mocka sales, and strong online sales growth. And thanks to a significant expansion in its gross margin, Adairs reported a 166% increase in underlying earnings before interest and tax (EBIT) to $60.2 million. This excludes JobKeeper payments, which were returned to the government. Interestingly, just this morning Wilsons tipped the Adairs share price to continue its ascent. It has retained its buy rating and lifted its price target by 29% to $5.80.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price reached an all-time high of $6.34 today. The catalyst for its strong share price performance was an impressive performance during the first half and its expansion plans. In respect to the former, the baby products retailer delivered a 16.6% increase in total sales to $217.3 million. This was driven by a 15% increase in comparable store sales and a 95.9% increase in online sales. Pleasingly, due to a 41-basis points expansion in its gross margin, the company recorded a 43.5% increase in pro forma net profit after tax to $10.8 million. As for its expansion plans, after a successful online launch in New Zealand, Baby Bunting now plans to open its first physical store in the country in FY 2022.

Reece Ltd (ASX: REH)

The Reece share price climbed to a record high of $20.34 on Monday. Investors have been buying the bathroom, kitchen, plumbing and HVAC-R supplies company’s shares this year due partly to a solid half year result in February. For the six months ended 31 December, Reece reported a 4% increase in sales revenue to $3,074 million and a 12% increase in normalised earnings before interest, tax, depreciation and amortisation (EBITDA) to $349 million. Positively, with the housing market booming, demand for its offering looks likely to strengthen in the second half.

More reading

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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. recommends ADAIRS FPO. The Motley Fool Australia has recommended ADAIRS FPO and Baby Bunting. 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 ClearVue Technologies Ltd (ASX: CPV) share price just hit an all-time high. Shares hit a high of 84 cents intraday trading today. By the time of writing, however, the share price had fallen slightly to 83 cents. This is still 18.57% higher than the previous close.

Today’s massive price gain comes as the company announced its “world first solar greenhouse” had officially opened.

Compared to the ClearVue share price, the S&P/ASX All Ordinaries Index (ASX: XAO) is only 0.23% higher.

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

What’s affecting the ClearVue share price?

In a statement to the ASX, ClearVue declared the opening of its solar powered greenhouse in Perth, Western Australia.

The greenhouse, which is located within the campus of Murdoch University, was built using ClearVue Technologies “smart building materials.” The facility will be used for developing new plant breeding technologies and integrating them to produce commercial crop varieties.

The company will conduct its own research on the building’s energy generation and energy efficiency performances. Investors appear to be buying into the research, with today’s strong performance of the ClearVue share price.

According to the statement, the new greenhouse uses a range of sensors that record and present data in real-time. This provides scientists with accurate information about temperature, humidity and the actual amount of light that plants are receiving. This information is then analysed to make real-time adjustments to settings inside the greenhouse, like temperature and lighting.

Management commentary

ClearVue Executive Chair, Victor Rosenberg, said

ClearVue is truly excited to finally be able to show to the World ClearVue’s truly world leading product being used in this agricultural application – just one of the wide range of applications the ClearVue technology and products can be used for.

Estimates indicate the world’s arable land has reduced by one third in the past 40 years. By 2050, two thirds of the world’s population is predicted to be urbanised, which will further impact the availability of land for agricultural production.

We are confident that the ability to control the microclimate within the ClearVue greenhouse will create an optimum growing environment to achieve higher yields. Leafy plants require protection from harmful UV rays in the same way humans need to protect their skin. Plants do this naturally by producing a waxy substance that shields them from harmful UV rays.

The ClearVue IGU glazing blocks these UV rays, so the energy required by plants to create the protective layer on leafy vegetables can be preserved to growing bigger, tastier, fresher produce which leads to improved yields and quality of produce.

ClearVue share price snapshot

Over the past 12 months, the ClearVue share price has increased an amazing 676.2%. Just in the last month, the company’s value has increased 93%!

Given its current valuation, ClearVue has a market capitalisation of $122.9 million.

More reading

• The ClearVue (ASX:CPV) share price is up 65% in a month. Here’s why

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 Yojee Ltd (ASX: YOJ) share price is rising today after the company released its quarterly activity report.

The Yojee share price is up 6.67% at the time of writing, trading at 16 cents per share.

Yojee delivers logistics and supply-chain management capabilities via its blockchain and artificial intelligence (AI) software to Southeast Asia and Australia.

The company is a cloud-based Software-as-a-Service (SaaS) logistics platform that manages, tracks and optimises freight movements throughout the logistics chain, from sender to end customer. It crosses borders and between logistics providers (land, sea, air), with subcontractors for multi-leg journeys.

In essence, it’s a software company that brings the management of trucking fleets into the digital age.

Inside Yojee’s quarterly report

Yojee’s March-quarter FY2021 activity report is focused on the company’s record growth and the expansion of its regional network. 

The company has achieved record growth in revenues from ordinary activities of 36% and cash receipts of 42% for the March-ended third quarter of FY2021.

The company’s recent expansion of its global logistics pipeline is beginning to bring in revenue. Yojee noted that its six Enterprise Client Logistics Hubs (with global top 10 freight forwarders) across five different countries are now generating revenue.

Two further hubs are currently undergoing platform implementation across two countries. 

87 trucking companies across the Asia Pacific region have adopted Yojee’s software during the quarter, which the company says creates “huge potential for further buildout”. 

Yojee reports a strong cash runway with AU$19.8 million in its bank at 31 March 2021. It’s currently in discussions with existing and new enterprise clients for Yojee to expand its presence across the supply chain in the Asia Pacific region and beyond.

It says that significant progress has been made laying the foundations for its future growth, and it expects another record quarter looking forward.

Yojee share price snapshot

Yojee’s strong revenue increases quarter-on-quarter in FY21, combined with its bullish expectations for future growth, have been pushing its share price higher in the past week. Broker recommendations have also assisted these gains.

The Yojee share price is up 6.9% this month but is down 22% in 2021 so far. Overall, it’s up 355% over the past 12 months.

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Motley Fool contributor Lucas Radbourne-Pugh 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.

The post Why has the Yojee (ASX:YOJ) share price surged 6% today? appeared first on The Motley Fool Australia.

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