A group of ASX-listed companies have started measuring their environmental, social and governance (ESG) worth to report alongside their financial numbers.

Reporting ESG performance had always been an inexact science, unlike well-established accounting standards.

But the World Economic Forum in September published a set of metrics that corporates can use to evaluate their ESG chops.

Using this framework, 6 Australian-listed companies announced Wednesday that they would start reporting ESG metrics in their quarterly reports required by the ASX:

• Euro Manganese Inc (ASX: EMN)
• Vulcan Energy Resources Ltd (ASX: VUL)
• Elixir Energy Ltd (ASX: EXR)
• Minbos Resources Ltd (ASX: MNB)
• MyFiziq Ltd (ASX: MYQ)
• WhiteHawk Ltd (ASX: WHK)

Melbourne tech firm Socialsuite is providing the software for these companies to report their non-financial metrics.

Vulcan Energy is a mining company with a $259 million market capitalisation that’s developed a method to produce lithium with minimal carbon emissions.

Managing director Francis Wedin said his business was proud to be one of the first adopters of the new standard ESG metrics.

“Positive impact and ESG is the core reason we started the company,” he said.

“We know that by delivering against ESG we can create long term sustainable value, while driving positive outcomes for the business, the economy, society, and the planet.”

Most investors care about ESG now

Unfortunately for those trailblazing companies, 20% of Australian investors would take higher returns over their own moral code.

But this also means 80% of local investors care about how the companies they buy into align with their personal beliefs.

The rise of ESG as a factor in investment choices was prominently on display last year after Rio Tinto Limited (ASX: RIO) blew up the historically significant Juukan Gorge.

The multinational mining giant initially defended its actions, saying its actions complied with the law. 

An internal investigation later stripped $7.2 million of bonuses off 3 executives, but this only caused more public outrage for putting a ‘valuation’ on the priceless site.

But sustained pressure from major shareholders, including some of Australia’s biggest superannuation funds, sent the 3 executives packing – albeit with massive enough golden handshakes that would mean they never had to work again.

“Investors have stepped up in this instance and demonstrated that they will not accept corporate misinformation and the absolute disrespect to cultural sites that has become Rio’s modus operandi,” Australasian Centre for Corporate Responsibility legal counsel James Fitzgerald told The Motley Fool at the time.

“Shareholder democracy and investor action is alive and well in Australia.”

The spectacular 700% rise in the share price of Tesla Inc (NASDAQ: TSLA) last year was also a case in point. Many retail investors were thrilled with backing a company they considered a part of the solution, rather than the carbon-emitting establishment.

More reading

• The Vulcan (ASX:VUL) share price just hit an all-time high
• MyFiziq (ASX:MYQ) share price falls despite announcing new app release
• Why Dacian Gold, Lovisa, MyFiziq, & Zip shares are dropping lower
• Euro Manganese (ASX:EMN) share price up more than 180% in 2020
• Here’s why the WhiteHawk (ASX:WHK) share price has rocketed 26% higher today

Tony Yoo 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 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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The Vulcan Energy Resources Ltd (ASX: VUL) share price has spent the last 12 months climbing its way from 15 cents per share, to today’s intraday all-time high of $3.41 – easily outpacing the S&P/ASX 200 Index (ASX: XJO)

Although there is no new news out from the company today, we can take a look at the most recent update and recap the recent developments.

A closer look at Vulcan

Since being acquired in 2019, Vulcan has been aiming to be the world’s first ‘Zero Carbon Lithium’ producer. More specifically, the company hopes to produce battery-grade lithium hydroxide with a net-zero carbon footprint.

Vulcan expects to leverage its geothermal and lithium project in the Upper Rhine Valley of Germany. By using the same brine to produce both lithium and geothermal energy simultaneously, the company believes it will address the current issues with lithium in Europe.

If achieved, Vulcan aims to then supply the lithium-ion battery and electric vehicle market in Europe – the fastest growing in the world.

In December 2019, Vulcan completed an Inferred Mineral Resource Estimation of its lithium resource. The results suggest that it is the largest lithium resource in Europe, and significant in size on a global level.

What’s been energising the Vulcan share price?

The Vulcan share price has been trending upwards since 21 December last year. On this day, Vulcan updated the market to a recent German legislative change. The legislation is in favour of an Act amendment to geothermal electricity production. This amendment will decrease the reduction rate of feed-in tariffs for geothermal electricity in Germany. Rather than the existing decline of 5% per year, the amended rate will be 0.5% per year.

This would make geothermal energy offsetting more economical for Vulcan. Additionally, once a geothermal project starts operating, the feed-in tariff at the time is locked in for 20 years.

These legislative changes are off the back of the European Commission proposing mandatory requirements on carbon footprints from lithium miners. The requirements would result in all lithium-ion batteries in Europe to include a carbon intensity performance class label from 1 January 2026. If the producer does not meet the carbon footprint threshold they will be barred from operating.

The Vulcan share price closed the day up 10.53%, at $3.36 per share. The company’s market capitalisation now sits at $239.96 million.

More reading

• Vulcan (ASX:VUL) share price rises 20% and breaks new record. Here’s why.
• ASX small caps could get a boost with the Aussie dollar hitting 28-month highs

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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One area of the market which I think is filled with a number of quality options for growth investors is the mid cap space.

But with so many to choose from, which ones should you consider buying? Two to consider are as follows:

Bravura Solutions Ltd (ASX: BVS)

Bravura is the financial technology company behind the Sonata wealth management platform. This platform allows financial advisers to connect and engage with clients via computers, tablets, or smartphones. It counts a number of large financial institutions as customers.

In addition to this, the company has been on an acquisition spree over the last two years and has bolstered its portfolio significantly. This includes the acquisitions of Delta Financial Systems, Midwinter, and FinoCamp. 

Midwinter is a financial planning software provider, FinoCamp builds unique, registry-agnostic and highly flexible software that supports the UK wealth market, and Delta Financial Systems provides technology to power complex pensions administration in the UK market.

While FY 2021 is going to be difficult because of the pandemic and Brexit, Goldman Sachs thinks investors should be patient. It has a buy rating and $4.50 price target on its shares. 

Collins Foods Ltd (ASX: CKF)

Another mid cap share to look at is Collins Foods. It is one of Australia’s leading operators of quick service restaurants.

Collins Foods has a growing KFC network across Australia and also in the under-penetrated European market. In addition to this, the company has been rolling out the Taco Bell brand across Australia.

It recently released its half year results and revealed an 11.3% increase in revenue compared to the prior corresponding period to $499.6 million. On the bottom line, underlying net profit after tax came in 15.1% higher to $27.5 million.

This went down well with analysts at Morgans, who appear to believe the company is well-placed to continue this positive form. The broker has an add rating and $11.39 price target on the company’s shares.

More reading

• 2 ASX dividend shares with attractive 2021 yields
• How the Domino’s Pizza (ASX: DMP) share price rocketed over 60% last year
• Leading brokers name 3 ASX shares to buy today
• ASX 200 drops lower
• 3 of the best ASX shares to buy in January

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended Collins Foods 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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When considering particular ASX shares to buy, investors often take a look at where a company’s share price is trading in relation to its 52-week high or low, as this might indicate an upward or downward trend.

Here we’ll take a look at three ASX shares which are currently trading very close to their 52-week low levels.

3 ASX shares struggling to gain ground

TPG Telecom Ltd (ASX: TPG)

The TPG share price is currently trading at $7.06, only around 2% shy of its 52-week low of $6.93 in November.

The company was formed by a merger between Vodafone and TPG, and the new entity was floated on the ASX in June 2020.

Since the float, this ASX share has lost around 20% of its value.

In the company’s first post-merger results, TPG annnounced that its first-half revenue for the period ending 30 June 2020 came in short at $1.5 billion, an 11% dip from the previous year.

It reported earnings before interest, tax, depreciation, and ammortisation (EBITDA) of $531 million, down 8% compared to 2019.

AGL Energy Limited (ASX: AGL)

At the time of writing, the AGL share price is only just managing to trade above its 52-week lows.

AGL shares are currently trading at $12.02, less than 1% away from their 52-week (and also 5-year) low of $11.95.

Just four days before Christmas, the company downgraded its guidance for the FY21 year, following a serious injury at its Liddell power station that caused one of the station’s units to be shut down until March 2021.

As a result, AGL announced it expected underlying profit after tax (NPAT) for FY21 to be between $500 million and $580 million, down from the previous guidance range of $560 million to $660 million.

This is despite a solid statutory profit of $1.015 billion for the full year of FY20, compared to $905 million for FY19.

Insurance Australia Group Ltd (ASX: IAG)

The current IAG share price of $4.70 is sitting just 7% above its 52-week low of $4.38.

This ASX share is currently weighed down by potential business interruption claims arising from the COVID-19 pandemic.

IAG surprised the market in November by announcing a $750 million capital raising to repair the capital damage expected from claims related to COVID-19.

The company said it has provided its best estimate for potential claims, but the risk that possible claims have been underestimated, or additional lockdowns occur before old policies are replaced with newly worded policies, has left a degree of uncertainty.

The company reported a full-year net profit after tax (NPAT) of $435 million for FY20, down almost 70% compared to FY19.

More reading

• 20% of Aussie investors would take high returns over personal ethics
• IAG (ASX:IAG) share price climbs following these announcements
• Why the AGL Energy (ASX:AGL) share price is climbing today
• 2020 ASX recap of the year we’ll never forget
• These were the worst performers on the ASX 200 last week

Motley Fool contributor Eddy Sunarto 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 RedHill Education Ltd (ASX: RDH) share price has surged up today after the company announced a positive trading update to the market this morning.

At the time of writing, the RedHill share price is trading up 5% at 94 cents.

What’s driving the RedHill share price higher?

The RedHill share price has lifted today after the company updated investors on its performance for the first-half of the 2021 financial year.

For the period ending 31 December 2020, RedHill delivered total revenues in the range of $22.4 million to $22.8 million.

This was underpinned by its strong domestic student market offsetting the short-term impacts of international student numbers. Greenwich Management and Coder Academy enrolments continued to increase, up 8% and 36% respectively, over the prior corresponding period.

RedHill reported a robust balance sheet with cash on hand of $23.1 million and nil bank debt. Management will use the capital to fund growth initiatives to generate revenue when international borders re-open.

In addition, 3 new undergraduate certificate courses were approved in November for FEE-HELP student tuition loans and government-funded places. These courses are scheduled to launch early this year.

What did management say?

RedHill CEO Glenn Elith welcomed the progress, saying:

We are delighted with the levels of resiliency in the business, with positive momentum in our domestic student revenues partially offsetting short-term challenges in the international student market.

We have bolstered RedHill’s balance sheet, and are confident that our strong cash position will enable RedHill to weather continued operating disruptions due to international border closures and to accelerate the recovery of international student revenues when borders do ultimately re-open.

Outlook

RedHill said it was ready to respond when international borders reopened to quickly re-build its student numbers. This follows active ongoing discussions with government bodies around Australia to develop and implement a COVID-19 safe plan.

The company has also moved its course delivery online, offering both full and partial online options to remote learning students.

RedHill share price snapshot

The RedHill share price was hit hard when COVID-19 first entered the world stage last year. Falling from its 52-week high of $1.97 last January, the company’s shares continued a descent to 43 cents in August.

While the last 3 months have been positive for the RedHill share price, it is still down almost 50% since this time last year.

More reading

• Why the Pilbara Minerals (ASX:PLS) share price jumped 8% to a 52-week high
• Top brokers name 3 ASX shares to buy today
• How ASX shares in the automotive sector outperformed the market in 2020
• Here’s why the Douugh (ASX:DOU) share price remains suspended
• Why is the Harvest Technology (ASX:HTG) share price rising?

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 market may be sinking lower but the same cannot be said for the Pilbara Minerals Ltd (ASX: PLS) share price on Wednesday.

In afternoon trade the lithium miner’s shares have surged 8% higher to a 52-week high of $1.01.

Why is the Pilbara Minerals share price surging higher?

Investors have been buying the company’s shares this afternoon following the release of an update on its second quarter shipments.

According to the release, the company achieved record quarterly shipments of 70,609 dry metric tonnes (dmt) of spodumene concentrate to offtake partners.

This means the company exceeded its previous sales guidance for the quarter, which forecast shipments to be in the range of 55,000 to 70,000 dmt.

It also represents a 38% increase on the shipments it recorded in the previous quarter of 43,630 dmt and is well above the previous shipment record of 46,682 dmt from two years ago.

Pilbara Minerals’ Managing Director and CEO, Ken Brinsden, was very pleased with the quarter.

He commented: “What a great way to start the New Year with record tonnes shipped from Pilgangoora to support increasing customer demand and an upward trend evident in the price for lithium chemicals in China, showing positive signs of a recovery in the lithium raw material market.”

The company advised that it has seen a material uplift in lithium chemicals pricing within China. It notes that the Platts Battery Grade lithium carbonate pricing is up 35% to date from its lows in August 2020.

Mr Brinsden believes the company is well-placed to take advantage of improving trading conditions after a very busy 18 months.

“The significant amount of work we have undertaken over the past 18-months in improving lithia recoveries, reducing operating costs and refinancing our senior debt facility, together with the impending acquisition of the neighbouring Altura Lithium Project, means that Pilbara Minerals is well positioned to respond to a recovery in the lithium market and capitalise on improvements in market conditions,” he added.

A full update on its quarterly performance will be released to the market before the end of the month.

More reading

• Why ASX lithium shares are running hot in 2021
• Is it better to buy 2020’s best or worst ASX shares?
• Here are the best All Ordinaries performers of 2020
• Why Mesoblast, Pilbara Minerals, Pushpay, & Retail Food Group shares are dropping lower
• Why the Pilbara Minerals (ASX:PLS) share price crashed 17% lower today

Motley Fool contributor James Mickleboro 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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With many brokers still taking a well-earned break over the holiday period, broker notes are few and far between right now.

In light of this, I thought I would take a look at a few that have been released over the last few weeks that remain very relevant today.

Three buy ratings that you might want to pay attention to are listed below:

Bapcor Ltd (ASX: BAP)

According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this auto parts retailer’s shares to $8.85. The broker made the move in response to the release of a trading update from Bapcor which revealed stronger than expected sales growth in FY 2021. Citi expects this to result in a solid half year result in February. In addition to this, its analysts are fans of the company due to its defensive qualities, favourable tailwinds, and international expansion plans. The Bapcor share price is trading at $7.57 this afternoon.

Challenger Ltd (ASX: CGF)

A note out of UBS reveals that its analysts have reinstated coverage on this annuities company’s shares with a buy rating and price target of $6.85. According to the note, the broker still sees value in the Challenger share price at the current level after it recovered from a selloff at the height of the pandemic. In addition, UBS believes the risks are now to the upside in respect to Challenger’s earnings, especially given favourable regulatory developments. The Challenger share price is trading at $6.36 on Wednesday.

Pro Medicus Limited (ASX: PME)

Analysts at Morgans have retained their add rating and lifted the price target on this health imaging company’s shares to $35.02. According to the note, the broker points out that Pro Medicus has just won another major contract in the United States. The five-year contract with MedStar Health is worth a total of A$18 million. Morgans points out that this is the first time the company has signed a major cloud-only deal. It feels this could be a sign of things to come. The Pro Medicus share price is changing hands for $32.86 today.

More reading

• How ASX shares in the automotive sector outperformed the market in 2020
• Are heads in the clouds with these sky high P/E ratios?
• Challenger (ASX:CGF) share price is up 35% in 6 months. Can it continue its form in 2021?
• Which ASX 200 healthcare shares delivered the top returns in 2020?
• ASX 200 up 0.8%: CBA storms higher, Link sinks, tech shares rise

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor, Challenger Limited, and Pro Medicus 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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Alongside sectors that experienced significant earnings tailwinds in 2020, such as technology and healthcare, the automotive sector proved resilient, delivering strong returns.

Here are the ASX shares in the automotive sector that pushed higher in a year impacted by the coronavirus pandemic. 

Eagers Automotive Ltd (ASX: APE) 

The Eagers Automotive share price was a top performing ASX share in 2020, closing 30% higher. 

The company provided the market with an upbeat guidance upgrade, expecting to deliver an underlying operating profit before tax in the range of $195 to $205 million for 2020, compared to $100.4 million for the prior corresponding period.

The guidance reflects the first full year of trading for the enlarged company following its transformative merger with Automotive Holdings Group. 

The update highlights rebounding vehicle sales from the historic lows experienced during April and May 2020. It said that sales have continued in a strong trajectory and supply constraints caused by global manufacturer factory closures during the June quarter have started to ease, demonstrated by the 12% uptick in national vehicle deliveries recorded during November. 

Bapcor Ltd (ASX: BAP) 

Similarly, the Bapcor share price finished the year 20% higher on a similar premise of strong revenue growth. In the company’s trading update for the first quarter of FY21, it indicated that Group revenue was up 27%.

Looking ahead, the company anticipates that it will achieve revenue growth of at least 25% over the pcp in FY20, and net profit after tax will increase at least 50% over the pcp which was $45.6 million. 

Carsales.com Ltd (ASX: CAR) 

The Carsales share price also finished the year 20% higher following strong growth in car ownership demand and traffic to its platform. The company has revealed a number of trends emerging from COVID-19 that support continued earnings growth. 

Firstly, key observations from a recent Carsales survey has seen an increased preference towards online shopping, away from traditional retail. Another recent Carsales survey indicated concerns about taking public transport or using rideshare due to hygiene concerns. 

The company also pointed towards government stimulus initiatives that have driven increased demand for vehicles. This includes instant asset tax write offs for assets up to $150,000, which has stimulated demand for cars in the commercial sector.

Individuals affected by COVID-19 have also been granted early access to two $10,000 parcels of their superannuation in FY20 and FY21. 

Foolish takeaway

The automotive sector has benefited from a number of trends emerging from COVID. With strong forecasted earnings and proven outperformance in 2020, could ASX shares in the automotive sector be poised for more growth in 2021?

More reading

• Here’s how the S&P/ASX All Technology Index fared in 2020
• 3 reliable ASX 200 shares that keep growing
• Here’s what is dragging the Over the Wire (ASX:OTW) share price lower
• 2 ASX shares to buy that are growing rapidly
• The Bapcor (ASX:BAP) share price just got upgraded again

Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended carsales.com 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 Douugh Ltd (ASX: DOU) share price has been suspended for a couple of weeks and investors were finally told why today.

In a separate announcement, Douugh confirmed reports that it has signed an agreement to acquire investing app Goodments for $1.5 million in shares.

What did Douugh announce?

Douugh’s shares have been out of action since 21 December. This was initially due to a trading halt that was requested while it prepared an announcement relating to the Goodments acquisition.

However, on 23 December, an extension was requested while it prepared a response to a query from the ASX. Despite requesting further extensions, no details were provided on what the ASX was querying. Until now.

This afternoon Douugh revealed that the ASX has identified potential ASX Listing Rule 10.11 breaches in its recent placement and in the backdoor listing transaction. Douugh landed on the ASX via a reverse takeover of ZipTel in September.

What is Listing Rule 10.11?

The ASX explained the rule on its website. It is as follows:

“Listing Rule 10.11 effectively requires an entity to obtain the approval of the holders of its ordinary securities before it issues, or agrees to issue, any equity securities to a related or other closely connected party unless the securities are issued under an employee incentive scheme with the approval of holders of ordinary securities under Listing Rule 10.14; or another exception in Listing Rule 10.12 applies.”

The stock exchange operator advised that the rule is in place so that a “related or other closely connected party of an entity is not in a position to influence whether the entity issues, or agrees to issue, equity securities to them, as well as the terms on which the issue or agreement is made. The harm it seeks to protect against is that the related or other closely connected party will exercise that influence to favour themselves at the expense of the entity.”

What now?

Douugh was given until 4pm on 6 January to deliver its response to the ASX but has been granted an extension until 8 January. It explained that this was to allow the company to complete an independent review of the backdoor listing register.

Management advised that its shares will remain suspended pending the outcome of the ASX’s queries.

Goodments acquisition.

Douugh has revealed that it has signed an agreement to acquire investing app Goodments for $1.5 million in shares.

Goodments currently has 12,700 customers and an average of $6,000 per active investor of funds under management.

Completion remains subject to the satisfaction of a number of conditions such as due diligence by both parties and relevant approvals.

More reading

• Douugh (ASX:DOU) to acquire Goodments: report
• What is happening with the Douugh (ASX:DOU) share price?
• These were the best-performing ASX IPOs in 2020
• Here are 6 of the top performing ASX fintech shares of 2020
• Experts pick the best ASX IPO of 2020

Motley Fool contributor James Mickleboro 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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Harvest Technology Group Ltd (ASX: HTG) shares are edging higher today after the company announced an initial agreement to further develop industrial smart safety glasses. During early afternoon trade, the Harvest share price is bucking the downward trend of the wider market to trade 1.6% higher at 31.5 cents.

In comparison, the All Ordinaries Index (ASX: XAO) is down 1% to 6,883 points.

What’s driving the Harvest share price?

The Harvest share price is climbing higher following news of the company’s strategic partnership with Iristick.

Based in Belgium, Iristick is a technology company focused on creating smart safety glasses for frontline and field workers. The wearables include a variety features such as dual cameras, zoom lenses, barcode scanners, voice commands, and more.

These allow a user wearing the smart glasses to receive real-time feedback from a remote expert. Potential applications include for surgeons performing operations on patients, or quality assurance personnel completing remote factory acceptance tests.

Under the agreement, Harvest will integrate its Infinity Nodestream and Wearwolf technology into Iristick’s smart glasses.

Wearwolf is a software application version of the Infinity Nodestream encoding platform designed to run on wearable and smartphone devices. Wearwolf enables live, point-to-point video and communications at ultra-low bandwidths.

Successful prototype testing was conducted last month during which the Wearwolf application was combined with the Iristick software development kit. As a result, the smart glasses have commenced proof of concept trials before their launch some time in early 2021.

A proof-of-concept trial involves carrying out various tests and analyses to determine how a particular idea or concept can be turned into a commercial reality. 

Management commentary

Harvest managing director Mr Paul Guilfoyle commented on the strategic partnership, saying:

We are very excited to be involved in a relationship with Iristick and look forward to our joint opportunities in the future. The synergies between our two companies are synonymous with a motivation to deliver high-quality remote communications and assistance from anywhere in the world.

We have successfully proven our Wearwolf application on multiple wearable platforms and we are confident it can be quickly adapted for use across other wearable devices. Given the expected growth in the wearables market, we are forecasting more than a 1000 new Wearwolf licenses in 2021.

Addressable market opportunity

As the world’s use of technology continues to evolve, the uptake of wearable devices is growing at a rapid pace.

According to a ‘Global Smart Augmented Reality Glasses Industry’ study in July last year, sales of wearables are projected to reach around 31.1 million units by 2027. This represents a compound annual growth rate (CAGR) of 104.6%.

More specifically, the uptake of simple assisted reality glasses are forecast to reach 12.3 million units in the same timeframe, signifying a 101.9% CAGR.

About the Harvest share price

The Harvest share price has been on a strong run over the past 12 months, rewarding shareholders with gains of over 420%.

The company’s shares hit a 52-week low of 4.7 cents in January last year, before roaring to an all-time high of 40.5 cents in August.

At the current Harvest share price, the company has a market capitalisation of $152 million.

More reading

• How ASX shares in the automotive sector outperformed the market in 2020
• Here’s why the Douugh (ASX:DOU) share price remains suspended
• Why the Noxopharm (ASX:NOX) share price is jumping 14% higher today
• Goldman points to commodities super-cycle so which ASX mining shares will benefit?
• Can the InvoCare (ASX:IVC) share price reclaim its 52-week high in 2021?

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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