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The Polynovo Ltd (ASX: PNV) share price has been on a trending decline over the past 12 months. This is despite the company recording strong sales growth throughout the year due to its ever-expanding presence across geographical markets.

In 2021, the medical device company’s shares fell around 60% in value. In comparison, the S&P/ASX 200 Healthcare (ASX: XHJ) sector has gained almost 10% over the same time frame.

However, Polynovo shares have made a positive start for 2022. In the first trading day of the new year, its shares finished up 2.3% to $1.56.

What happened with the Polynovo share price?

Investors heavily sold off Polynovo shares last year due to challenging market conditions caused by COVID-19.

Although the company reported surging sales volumes across global markets, it missed the mark on investor expectations. This is mainly related to the underperformance in the United Kingdom, Ireland, and Europe markets.

Last month, Polynovo advised a number of initiatives are being undertaken to improve the effectiveness of its in-market programmes.

Another factor which caused Polynovo shares to slide was the shock exit of its CEO in early November. After seven years with the company, outgoing managing director Paul Brennan decided to resign from his post.

Investors took the news negatively, sending Polynovo shares down 13% within two trading days.

Polynovo noted it’s still conducting its international search to find a new CEO, with significant interest from candidates globally. It expects that the role will be filled sometime within the first quarter of 2022.

Furthermore, short-sellers weighed down Polynovo shares in 2021 following a report from the Australian Securities & Investments Commission (ASIC) last month. The government body noted that around 7.4% of Polynovo shares were being shorted.

What do the brokers think?

A couple of brokers have rated the company’s share price with varying price points over the last couple of months.

Multinational investment bank Macquarie raised its 12-month price target for Polynovo shares by 5.6% to a bullish $2.85 in October.

The broker acknowledged that Polynovo is underperforming its expectations for FY22. However, it predicts the business will make a turnaround, in particular for its NovoSorb product which is poised for growth in the medium to long term.

More recently, financial advisory services firm Wilsons adopted a more bearish tone, slashing its outlook by 29% to $1.42. Its analysts believe the medical company’s shares are overvalued at the time being. Based on the current Polynovo share price, this implies a downside of almost 10%.

The post Here’s what happened to the Polynovo (ASX:PNV) share price in 2021? appeared first on The Motley Fool Australia.

More reading

• These were the 5 worst performing ASX 200 shares in 2021
• ASX 200 falls on Friday but records 13% gain in 2021
• These are the 10 most shorted ASX shares
• These were the best performing ASX 200 shares last week
• Short interest in Polynovo (ASX:PNV) shares is easing. What does this mean?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended POLYNOVO 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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Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and other cryptocurrencies are at a critical juncture at the moment.

As the flag bearer representative of the entire digital currency sector, Bitcoin has lost about 30% in value since early November.

In December alone, it lost 20%. This is the worst decline since May when it copped a 35% hammering.

Hence the cryptocurrency critics have been loud in saying “I told you so” in recent weeks.

So are they right? Were cryptocurrencies a con all along?

Ignore volatility, hold for the long term

DeVere Group chief executive Nigel Green is one expert who reckons investors should “ignore the crypto deniers” and be in it for the long haul.

“The Bitcoin bashers, the crypto cynics, the digital deniers are out in force at the moment, trotting out the same old stale arguments about cryptocurrencies,” he said.

“However, investors who are focused on building their wealth for the long-term should ignore their tired rants. Instead, they should look at the data.”

Indeed, despite the price plunge the last couple of months, Bitcoin actually gained 71.25% over the 2021 calendar year.

“For the third consecutive year, Bitcoin has outperformed both stocks and gold.”

Bitcoin is 1% down on Wednesday morning, trading for $63,878.79 at the time of writing.

No one is suggesting cash should be outlawed because criminals use it

Green believes the common criticisms from cryptocurrency cynics are incorrect in 3 different ways.

The first is the old argument that the anonymity of digital money is used by criminals to evade authorities.

“However, law enforcement agencies can more easily catch criminals who use the public ledgers on which cryptocurrencies are run compared to those who use cash or other forms of payment with no record,” said Green.

“Are these people really saying cash isn’t used by criminals?”

Critics also point to the volatility in value for cryptocurrencies.

“This is true, but is it necessarily always a bad thing? Many investors embrace this short-term volatility for longer-term gains,” Green said. 

“They use the lower prices of Bitcoin and other major cryptocurrencies to top-up portfolios.”

And, finally, Green thinks Bitcoin’s role as a hedge against inflation and facilitator of easy international movement of capital would see it remain a force for a long time.

Bitcoin programmatically has a hard cap of 21 million coins in circulation. This scarcity works to reduce inflation by limiting supply.

“Borderless, global, decentralised currencies are the future,” he said.

“It’s my view that to create, build and protect wealth for the long-term, the crypto deniers’ ideologies should be dismissed and the data from the financial markets should speak for itself.”

The post 3 big reasons crypto sceptics are WRONG appeared first on The Motley Fool Australia.

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• Why is the BetaShares Crypto Innovators ETF (ASX: CRYP) share price leaping higher today?
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• Australia’s first physical crypto gift cards are now on sale for Christmas

Motley Fool contributor Tony Yoo owns Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. 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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If you’re building an income portfolio, then you may want to look at the ASX shares listed below.

Both ASX dividend shares offer attractive yields and have been named as buys by analysts. Here’s what you need to know about them:

BHP Group Ltd (ASX: BHP)

The first ASX 200 dividend share to consider buying is this mining giant. BHP has a collection of world class operations across a number of regions and commodities.

The latter includes Petroleum, Potash, Copper, Iron ore, Coal and Nickel. Though, the company is in the process of spinning out its petroleum assets via a merger with Woodside Petroleum Limited (ASX: WPL).

Based on current commodity prices, BHP looks well-placed to generate strong free cash flows again in FY 2022. This is expected to lead to generous dividend payments in the near future.

Morgans, for example, is forecasting fully franked dividends of $3.40 per share in FY 2022 and $2.44 per share in FY 2023. Based on the current BHP share price of $42.38, this will mean yields of 8% and 5.75%, respectively.

Its analysts have an add rating and $45.70 price target on the company’s shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX 200 dividend share to consider is this telco giant.

Thanks to the success of its T22 strategy and the very promising T25 strategy that will replace it this year, Telstra looks well-placed for growth at long last.

The team at Goldman Sachs believe this will be the case and are even pencilling in dividend increases in the near future. Goldman expects 16 cents per share dividend for FY 2022 and FY 2023 before an increase to 18 cents per share in FY 2024 and then 19 cents per share in FY 2025.

Based on the current Telstra share price of $4.21, this will mean fully franked yields of 3.8% and then 4.3% and 4.5%, respectively.

Goldman has a buy rating and $4.40 price target on its shares.

The post 2 quality ASX 200 dividend shares with attractive fully franked yields appeared first on The Motley Fool Australia.

More reading

• These 2 ASX shares are over 100 years old. Are they buys?
• Own VAS shares? Here’s how this ETF performed in 2021
• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Here’s why ASX 200 mining shares could be in for a boost in 2022
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation 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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If you’re looking for some new ASX shares to add to your portfolio then you may want to look at the two listed below.

Here’s what analysts are saying about them:

Hipages Group Holdings Ltd (ASX: HPG)

The team at Goldman Sachs is very positive on this tradie marketplace provider. The broker believes Hipages is well-placed to grow at a strong rate over the long term as it builds out its ecosystem. Goldman was also pleased with the acquisition of Builderscrack, which gives the company a firm footing in the New Zealand market.

Goldman commented: “We believe HPG is very well-placed to execute on its strategy to build out its leading tradie services marketplace and the acquisition of Builderscrack is an attractive opportunity to replicate the HPG strategy in the NZ market.”

“We see meaningful growth opportunity from here: HPG currently captures only 2.4% of industry GMV; of the GMV it does service, the take rate is low compared to other vertical marketplaces. We forecast a 24% revenue CAGR and a 38% EBITDA CAGR from FY21-FY24E,” it added

Goldman Sachs has a buy rating and $5.15 price target on Hipages’ shares.

Webjet Limited (ASX: WEB)

This online travel agent is rated as a buy by the team at Morgans. Its analysts appear to believe that investors will reap the rewards of being patient with its shares. This is due to the belief that Webjet will come out of the pandemic as a much stronger and profitable business with a larger market share.

The broker commented: “WEB is targeting to return to pre-COVID booking levels in the 2H23. Management continues to maintain its aspirational market share targets and wants to reduce the company’s cost base by 20% when it returns to scale. This means that WEB should be materially more profitable post COVID.”

Morgans currently has an add rating and $6.60 price target on Webjet’s shares.

The post Analysts name 2 excellent ASX shares to buy now appeared first on The Motley Fool Australia.

More reading

• Potential buys: 2 excellent ASX shares
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• How are ASX 200 travel shares faring over the holiday season?
• 4 fantastic ASX growth shares to buy
• ASX travel shares in focus on global flight cancellations

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. and Webjet 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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Long-term shareholders of Xero Limited (ASX: XRO) have every reason to smile.

According to Google Finance, the stock has grown a phenomenal 3,000% since listing on the ASX almost 10 years ago.

Even over the last 5 years, Xero shares have exploded 738%.

But 2021 was an anti-climactic year for investors in the New Zealand cloud accounting software provider.

Valuation and market anxiety brought down Xero shares

Over the last calendar year, the Xero share price was down 3.66% to close at $141.44.

That’s despite the S&P/ASX All Technology Index (ASX: XTX) rising 3.72% over the same period.

In some ways, Xero’s a victim of its own success and popularity. The Motley Fool analyst Chris Copley said in a November video that the nose-bleed valuation had simply become too much to bear.

“There’s a lot of lofty expectations built into the share price that investors should be wary of when investing in Xero.”

Combine that with 2021’s biggest obsessions — persistent inflation and rising interest rates — and it’s a wonder the Xero share price didn’t fall further over the year.

Still good prospects in the long run

Despite the underperformance in 2021, both Copley and Medallion Financial managing director Michael Wayne told The Motley Fool that holding Xero shares for the long term could still bear fruit.

“We are drawn to the capital-light and scalable software-as-a-service attributes of the business,” said Wayne.

“We continue to be encouraged by the sticky nature of the product.”

Copley said it would be unreasonable to expect the next 5 years would bring the same returns as the last 5. But the Xero share price would still be a “market beater”.

“It’ll continue to grow for a long period of time. Its tail is long, which means I think it can get double-digit growth for a long period of time,” he said.

“You really do need to look well long-term into the future for this one because even in 3 to 5 years it’s still going to probably have quite a lofty multiple.”

To buy in, Wayne would wait until there is a dip during the coming year.

“We feel it best to be patient as the share price is prone to volatility,” he said. 

“All else remaining equal, we would look at buying around the $110 to $115 level.”

Copley, a former accountant, remembered how much Xero helped make small business owners’ lives easier.

“I used to train different clients on how to use some of these accounting platforms, and Xero was by far my favourite solution.”

The post Here’s how the Xero (ASX:XRO) share price performed in 2021 appeared first on The Motley Fool Australia.

More reading

• These ASX mining, tech, and bank shares could be buys in 2022
• 3 ASX growth shares could be strong buys
• 2 ASX 50 shares to buy in 2022
• Xero (ASX:XRO) share price dips amid acquisition news
• Are these 2 strong ASX 200 shares buys?

Motley Fool contributor Tony Yoo owns Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Xero. The Motley Fool Australia owns and has recommended Xero. 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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There are some very old businesses on the ASX. Some of the ASX shares are more than 100 years old. But are these oldies a buy?

Surviving for over a century is no easy feat. There have been world wars, pandemics, economic collapses and so on.

Being that old may suggest staying power. Depending on the sector, some businesses may be expecting demand for their products or services to last at least decades longer.

Here are two of the oldest businesses in Australia:

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Soul Pattinson was first listed in 1903 as a pharmacy business.

However, the business has long since diversified away from being a pharmacy company.

Its holding of Brickworks Limited (ASX: BKW) shares has been a holding for decades and now is giving Soul Pattinson a growing exposure to high-quality industrial property.

The old ASX share has a number of other investments in different businesses and sectors like TPG Telecom Ltd (ASX: TPG), New Hope Corporation Limited (ASX: NHC), Pengana Capital Ltd (ASX: PCG), Bki Investments Ltd (ASX: BKI), Ampcontrol, swimming schools, resources, financial services and agriculture.

After a merger with the listed investment company (LIC) Milton, it has a lot of liquidity for more investment opportunities in areas like the energy transition and education.

Soul Pattinson has paid a dividend to shareholders every year since it listed (in 1903) and has increased its dividend every year since 2000.

Whilst the broker Morgans currently rates the ASX share as a hold, the price target of $36.78 is around 20% higher than it is today.

BHP Group Ltd (ASX: BHP)

Incorporated in 1885, BHP engaged in the discovery, development, production and marketing of iron ore, copper, oil and gas, diamonds, silver, lead, zinc and a range of other natural resources.

These days, its portfolio is more focused with iron ore, nickel, copper and metallurgical coal (used to make steel). It’s on track to divest its petroleum business to Woodside Petroleum Limited (ASX: WPL), reducing its exposure to fossil fuels.

The ASX share is now trying to expand its exposure to future-focused commodities such as its potash Jansen asset in Canada which has a long life and could earn high margins.

Are BHP shares are a buy? The brokers at Macquarie Group Ltd (ASX: MQG) think so. It’s rated as a buy with a price target of $52. That’s a potential upside of around 20% over the next year.

Macquarie is seeing an improvement in steel demand in China, which could help BHP.

The broker likes the diversification and cashflow of BHP. On Macquarie’s numbers, the BHP share price is valued at under 10x FY22’s estimated earnings with a projected grossed-up dividend yield of 13%.

The post These 2 ASX shares are over 100 years old. Are they buys? appeared first on The Motley Fool Australia.

More reading

• Own VAS shares? Here’s how this ETF performed in 2021
• Here’s why ASX 200 mining shares could be in for a boost in 2022
• 5 things to watch on the ASX 200 on Tuesday
• 3 qualities that makes Soul Pattinson (ASX:SOL) a strong ASX dividend share
• Top ASX shares to buy in January 2022

Motley Fool contributor Tristan Harrison owns Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks. The Motley Fool Australia owns and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Macquarie Group Limited and TPG Telecom 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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On Tuesday the S&P/ASX 200 Index (ASX: XJO) started the year in very strong form. The benchmark index jumped 1.95% to 7,589.8 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones up 0.6%, but the S&P 500 down 0.25% and the Nasdaq down a sizeable 1.8%.

Tech shares on watch

Australian tech shares such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) could come under pressure today after a very poor night of trade on the tech-focused Nasdaq index. Afterpay could have a particularly bad day after the Square share price sank 7% on Tuesday night. As its shareholders have voted in favour of Square’s takeover proposal, the value of the transaction rises and falls with its shares.

Oil prices rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.3% to US$77.03 a barrel and the Brent crude oil price is up 1.35% to US$80.03 a barrel. Oil prices rose despite OPEC revealing that it will go ahead with its plan to raise its output target by 400,000 barrels per day next month.

Gold price rise

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price rose overnight. According to CNBC, the spot gold price is up 0.8% to US$1,815.10 an ounce. Rising Omicron cases led to some traders seeking safety in the precious metal.

Premier Investments goes ex-dividend

The Premier Investments Limited (ASX: PMV) share price is likely to trade lower this morning. This is because the Peter Alexander and Smiggle operator’s shares are due to trade ex-dividend this morning for its fully franked 46 cents per share final dividend. Eligible shareholders can look forward to being paid this dividend on 27 January.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Own VAS shares? Here’s how this ETF performed in 2021
• 2 ASX shares analysts rate as buys in January
• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Here’s why the CBA share price had such a good run in December

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited and Appen Ltd. The Motley Fool Australia owns and has recommended Afterpay Limited and Appen Ltd. The Motley Fool Australia has recommended Premier Investments 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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If you’re wanting to invest in the tech sector, then the two ASX shares listed below could be worth considering.

Both have recently been tipped as buys with significant upside potential in 2022. Here’s what you need to know about them:

NEXTDC Ltd (ASX: NXT)

Analysts at Citi are very positive on this data centre operator’s shares. The broker was pleased with NEXTDC’s performance in FY 2021 and expects more of the same in the current financial year thanks to accelerating cloud adoption and digitisation.

Citi commented: “With FY22e earnings largely contracted and customer expansion options underpinning our medium-term forecasts, we maintain our Buy call with a $15.40 target price. With bookings going forward skewing towards wholesale/hyper-scale, we expect revenue per MW to decline, however expect strong earnings growth underpinned by accelerating cloud adoption and digitisation.”

The broker has a buy rating and $15.40 price target on the company’s shares. Based on the current NEXTDC share price, this implies potential upside of 20%.

Nitro Software Ltd (ASX: NTO)

Bell Potter is very bullish on this document productivity company.

It is the company behind the Nitro Productivity Suite, which provides integrated PDF productivity and eSignature tools to businesses globally. At the last count, a total of 68% of the Fortune 500 were customers of Nitro, which appears to be a testament to the quality of its offering.

Bell Potter notes that the company has also just strengthened its offering further with a game-changing acquisition of Connective NV for US$81 million.

The broker commented: “The rationale for the acquisition is it will accelerate and enhance Nitro’s eSign, eID (electronic identity) and document workflow capabilities. It will also position Nitro to become the third global player in the enterprise eSign market along with DocuSign and Adobe.”

Bell Potter has a buy rating and $4.50 price target on the company’s shares. This implies upside of approximately 90% for the Nitro share price.

The post 2 buy-rated ASX tech shares with huge upside potential appeared first on The Motley Fool Australia.

More reading

• 2 exciting ASX tech shares that could be buys
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Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software 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 Falcon Metals Ltd (ASX: FAL) share price has started the year in style, surging to its highest point yet.

Shares in the gold explorer were swapping hands at 75 cents apiece at market close, up 30%. In afternoon trade, shares hit a high of 78 cents.

The company is going for gold in the Bendigo region of Victoria and also exploring in Western Australia.

Golden start to 2022

The Falcon Metals share price blasted ahead today despite no news from the company.

The gold price was up slightly by 0.24% at the time of writing to US$1,804.40 an ounce. The S&P/ASX 200 Index (ASX: XJO) gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) climbed 0.49% and 0.11% respectively today.

Falcon Metals listed on the ASX on December 22 last year. Investors could be still weighing up how to price the company following its initial public offering (IPO) of 50 cents per share. This offering was oversubscribed and raised $30 million.

Also impacting investor sentiment may be pending exploration activities at the company’s Pyramid Hill gold project in Victoria this month. The company has an “aggressive” drilling program planned this year at the mine.

The company demerged from Chalice Mining Ltd (ASX: CHN) in December. Chalice spun off Falcon to focus on other projects.

Falcon Metals holds the largest exploration licence of any company in the lucrative Bendigo gold region of Victoria. The company also has two other early-stage gold projects in Western Australia. These are known as the Viking project and Mt Jackson Project.

Falcon Metals share price snapshot

The Falcon Metals share price is up 50% since the company joined the ASX and up 100% in the past week.

For perspective, the S&P/ASX 200 Resources Index (ASX: XJR) finished up 2.48% today and has risen 3.43% in the past week.

The company has a market capitalisation of about $135 million based on the current share price.

The post Why is the Falcon Metals (ASX:FAL) share price flying 30% higher into the new year? appeared first on The Motley Fool Australia.

More reading

• Why is the Chalice Mining (ASX:CHN) share price surging today?
• 22% recovery: Falcon Metals (ASX:FAL) share price regains on second day of trade
• Falcon Metals (ASX:FAL) share price nosedives 28% on IPO

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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As Aussies rang in the new year with their own 2022 resolutions, these 3 ASX shares decided some record-high prices would be the first order of business.

Investors that snapped up these producers and retailers will be pleased.

Let’s take a look…

Graincorp Ltd (ASX: GNC)

Graincorp Limited (ASX: GNC) is an Australian agribusiness and processing company operating primarily in grain and oilseed storage.

In addition to grain, infant formula products, and wood chips, this ASX share also has a recycling interest — it has interests in turning cooking oil into biofuel products and is invested in making eco-friendly animal feed derived from seaweed.

With strong global demand for Australian grain, the Graincorp share price performed exceptionally well last year — successfully finding markets outside China following the landslide of import bans on Australian products earlier last year.

At the start of January 2021, the Graincorp share price was $4.22. At the close of trading today, shares were swapping hands for $8.42 apiece — an increase of almost 100%.

The Graincorp share price was up 2% on the day to a new 52-week high.

Michael Hill International Ltd (ASX: MHJ)

Next up, the Michael Hill International Ltd (ASX: MHJ) share price hit the 52-week-high record bell again today, just a week after its previous record.

In fact, Michael Hill shares hit $1.53 just after opening — an almost 11% increase from their previous closing price on New Year’s Eve.

The pandemic seems to have not deterred shoppers — in its most recent announcement, this ASX share detailed strong sales through the recent holiday period despite the onset of the new COVID-19 variants.

And it’s not only foot traffic — the jeweller saw its website traffic go up by 35%, and its digital sales increase by more than 50%, up to almost $35 million.

As such, the company anticipates its first half-year results to be higher than that of last year.

All in all, the jeweller has seen a stellar 2021, shooting up around 110% since this time last year.

The Michael Hill share price closed today up 6.16% at $1.47.

Reece Ltd (ASX: REH)

Last but not least is the Australian-based plumbing and bathroom supplier, Reece Ltd (ASX: REH).

Just like the other ASX share gainers, Reece experienced a new record today following its previous 52-week-high achieved only last week.

At the market close, the Reece share price was up 3.4% at $27.95.

Reece hit its highest point at 11am, experiencing an increase of 3.9% from the previous closing price.

Last week’s holiday jump came off the back of a fairly quiet few weeks of news from this company.

However, back in October, it released a Q1 FY22 update, showing sales revenue of $1.7 million for the first quarter, an increase of 13% from the previous corresponding period.

Overall, in the last 12 months, the Reece share price has jumped 83%.

The retailer has a market capitalisation of more than $18 billion and a price-to-earnings ratio (P/E) of 69.28.

The post These 3 ASX shares hit new 52-week highs today appeared first on The Motley Fool Australia.

More reading

• How did the Graincorp (ASX:GNC) share price double in 2021?
• These were the 5 best performing ASX 200 shares in 2021
• These were the best performing ASX 200 shares in December
• Christmas highs: 3 ASX 200 shares hitting record highs today
• Top brokers name 3 ASX shares to sell

Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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