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The long-running saga that is the Afterpay Ltd (ASX: APT) and Square Inc (NYSE: SQ) merger has been one of the defining stories of the ASX boards in 2021.

By now, most ASX investors would be familiar with the neck-cracking rise of the Afterpay share price over the past few years. This is a company that went from rather obscure growth share to a top ASX 20 holding in record time, after all.

But August saw Afterpay receive its complete takeover offer from the US payments giant Square, and really get ASX investors’ attention. If the deal does go ahead, it would be one of the largest corporate takeovers in ASX history. It will also likely see Square shares list on the ASX through a CHESS depositary interest (CDI). That will make it one of the ASX’s largest companies, at least on paper.

The offer is an all-scrip one, meaning Afterpay investors will receive Square stock in exchange for their Afterpay shares. The ratio is 0.375 Square shares for every Afterpay share held.

As my Fool colleague James discussed yesterday, this has actually meant that the deal looks a lot less sweet for Afterpay shareholders today than when it was first announced. That’s because Square has seen its own shares fall by more than 30% since early August.

When will Afterpay shareholders vote on the Square takeover?

So earlier this month, we covered the extraordinary general meeting (EGM) that Afterpay was going to hold on 6 December to allow shareholders a final vote on the proposed merger. But this date was subsequently pushed back. The EGM will now be held on Tuesday 14 December at 9am AEDT. So if you’re a shareholder, that’s when you will be able to vote on the future of the company.

In its notice from 7 December, Afterpay confirmed that if the vote is in the affirmative, it will allow the company to proceed with the merger. This, Afterpay anticipates, will “become effective” before the end of 2021. The merger will still need approval from the Bank of Spain, so management stated that it was still expecting everything to only be completely finalised by the end of March, 2022.

The Afterpay share price closed at $95.89 on Friday, down a nasty 4.37%.

The post Afterpay (ASX:APT) shareholders will vote on the Square takeover next week. Here’s what you need to know appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, AVZ, Irongate, and Santos shares are dropping
• The Afterpay-Square takeover deal is worth $9bn less now
• Could this ASX share really be the next Afterpay (ASX:APT)?
• ASX 200 (ASX:XJO) midday update: Fortescue CEO steps down, Westpac buyback update
• More pain for ASX buy now, pay later shares in 2022: expert

Motley Fool contributor Sebastian Bowen owns Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you have room for some new portfolio additions, then it could be worth considering the three ASX growth shares listed below.

Here’s what you need to know about these buy-rated shares:

Allkem Limited (ASX: AKE)

If you don’t mind investing in the resources sector, then a growth share to consider is Allkem. It is a top five global lithium mining company, formerly known as Orocobre, with a collection of high-quality assets. These include Olaroz, Mt Cattlin, and the Sal de Vida brine project. Allkem has been and looks set to continue benefiting greatly from the sky high lithium prices being underpinned by the clean energy transition and the rapid adoption of electric vehicles. This bodes well for its growth in the coming years. Macquarie is bullish and has an outperform rating and $12.00 price target on its shares.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share to look at is Lovisa. It is a fast-fashion jewellery retailer with a growing store network. Lovisa recently appointed a new CEO, Victor Herrero. He was previously the Head of Asia Pacific and Managing Director Greater China for Inditex (Zara, Pull & Bear and Massimo Dutti). This went down well with the team at Macquarie, which notes that China (as well as India) will be a key focus for Lovisa. In fact, it sees scope for the company to open as many as 1,400 stores in these markets alone. Macquarie has an outperform rating and $25.00 price target on its shares.

ResMed Inc. (ASX: RMD)

A final growth share to consider is ResMed. It is a medical device company with a focus on the sleep treatment market. ResMed has been tipped to continue growing strongly over the long term thanks to its industry-leading products and massive market opportunity. It also looks set to benefit greatly in FY 2022 from a significant product recall from a key rival. Credit Suisse is a fan of ResMed and has an outperform rating and $43.00 price target on the company’s shares.

The post Analysts think growth investors should buy these ASX shares right now appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• Why is the Allkem (ASX:AKE) share price in the spotlight this week?
• 3 strong blue chip ASX 200 shares to buy
• Leading brokers name 3 ASX shares to buy today
• Orocobre (ASX:ORE) share price pushes higher amid ASX 100 inclusion

Motley Fool contributor James Mickleboro owns Allkem 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 Lovisa Holdings Ltd and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in conglomerate Washington H Soul Pattinson & Co Ltd (ASX: SOL) spent a day in the red on Friday, closing 1.79% lower at $31.85.

The downtrodden Soul Pattinson share price performance came as investors digested the takeouts from its annual general meeting (AGM) today. Here are the investment highlights.

What did Soul Pattinson announce?

In today’s presentation, Soul Pattinson noted several key investment achievements in the past year including the merger with Milton, which chair Robert Millner said “brought together two of Australia’s great investment companies”.

The company advised that the merger provided many synergies given its “highly strategic” nature. These included portfolio diversification and additional liquidity for future investments, and higher cash generation from increased portfolio dividends.

As a result of the merger, the strategic portfolio is now less than 45% of its total portfolio, whereas the pre-tax value of the portfolio (per share) increased by 17.3% over the year to 30 November 2021.

Millner told the AGM that Soul Pattinson also increased its dividend payment this year to 62 cents per share, making it now “the only company in the top 500 listed companies in Australia to have increased its dividend every year for over 20 years”.

“We are extremely proud of the fact that the company has never missed paying a dividend since listing in 1903,” he said.

The company also has an ungeared net working capital position of $78 million as of 31 July 2021, and it raised $225 million in convertible bonds maturing in 2026. These notes will pay an annual coupon of 0.625% which are favourable terms for the company.

Finally, the company’s portfolio has a net asset value (pre-tax) of $9.25 billion as of 30 November. As such, NAV per share is up 17% for the last 12 months, per the release.

Moving forward, the company says it is focused on “key thematics” such as health and ageing, energy transition, agriculture, financial services and education.

Soul Pattinson share price summary

It’s been a difficult year for the Soul Pattinson share price, which gained just over 5% in the past 12 months, and is up 5% since 1 January.

In comparison, the S&P/ASX 200 index (ASX: XJO) has returned around 10% in the past year.

The post Soul Pattinson (ASX:SOL) share price dips as investors digest AGM appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• 2 ASX dividend shares that could provide rock-solid income
• Is Soul Patts (ASX:SOL) the best ASX dividend share?
• Why is the Soul Pattinson (ASX:SOL) share price sliding lower today?

The author has no positions 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 Washington H. Soul Pattinson and Company 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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Today, the S&P/ASX 200 Index (ASX: XJO) capped off the week with a red day. At the end of the session, the benchmark index finished 0.42% lower at 7,353.5 points. Despite today’s fall, the Australian share market ended up higher than its starting position at the beginning of the week.

It was a mixed day on a sector-by-sector basis, with healthcare and energy shares being the main anchors on the market. Oil and gas companies struggled through the day following a weakening in oil prices overnight. In contrast, utilities, communication services, and consumer discretionary shares provided some uplifting notes in the market today.

The question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Iluka Resources Ltd (ASX: ILU) was the biggest gainer today. Shares in the mineral sands producer surged 7.29% after a bullish broker note from Macquarie. Find out more about Iluka Resources here.

The next biggest gaining ASX share today was Liontown Resources Ltd (ASX: LTR). The lithium developer gained 6.84% today despite there being no new price-sensitive announcements from the company. Uncover the latest Liontown Resources details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Iluka Resources Ltd (ASX: ILU)	$9.42	7.29%
Liontown Resources Ltd (ASX: LTR)	$1.64	6.84%
NIB Holdings Ltd (ASX: NHF)	$7.10	4.87%
Ebos Group Ltd (ASX: EBO)	$36.31	4.64%
Home Consortium (ASX: HMC)	$7.99	4.31%
Pointsbet Holdings Ltd (ASX: PBH)	$7.82	3.85%
Pilbara Minerals Ltd (ASX: PLS)	$2.60	3.59%
Infratil Ltd (ASX: IFT)	$7.90	3.40%
Wisetech Global Ltd (ASX: WTC)	$53.08	2.91%
Spark New Zealand Ltd (ASX: SPK)	$4.31	2.38%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Friday
• Why Grange, Iluka, Perpetual, and Telix shares are rising today
• ASX 200 (ASX:XJO) midday update: Fortescue CEO steps down, Westpac buyback update
• 2 highly rated ASX 200 shares to buy
• If this is poker, we’re now ALL-IN on ASX shares: expert

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Pointsbet Holdings Ltd and WiseTech Global. The Motley Fool Australia owns and has recommended WiseTech Global. The Motley Fool Australia has recommended NIB Holdings Limited and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It’s highly unlikely that many Wesfarmers Ltd (ASX: WES) shareholders would lose sleep at night over the company’s balance sheet.

The 107-year-old blue-chip business has maintained a decent stash of cash for many years. In addition, the amount of debt carried by the Australian conglomerate has been trending downwards since 2016.

However, with a potential bidding war looming with Woolworths Group Ltd (ASX: WOW) for Australian Pharmaceutical Industries Ltd (ASX: API), now might be a good time to get familiar with the company’s available cash.

How much cash does ASX-listed Wesfarmers have?

There are many factors that influence the trajectory of a company’s share price over the long term. One variable of the equation can be the condition of a company’s balance sheet.

Ideally, there is enough spare cash sitting on the sidelines to protect the business from black swan events. However, another important use of spare capital is for providing increased shareholder returns. Sometimes this simply means dividends, while other times it can be strategic acquisitions.

In the case of Wesfarmers, the ASX-listed diversified business reported a total of $3.023 billion of cash and cash equivalents at 30 June 2021. These sidelined dollars have come in handy recently, with Wesfarmers throwing down a $763 million offer for pharmacy chain operator API.

Though, now Woolworths has entered the race with a bigger bid of $873 million. In turn, pundits are expecting that a bidding war might ensue. So, which company is better equipped financially? It turns out that Wesfarmers has about $2 billion more cash than Woolworths as of 30 June 2021.

What else could the cash go towards?

As my Foolish colleague Tristan covered last month, Wesfarmers is looking to increase the digitisation of Bunnings. Specifically, the company plans to grow its e-commerce operations, invest in new systems, and install a new analytics platform.

Additionally, Wesfarmers has been built on opportunistic mergers and acquisitions over the years. Thanks to a diligent management team, the company has grown to a market capitalisation of over $60 billion. If shareholders are going to continue to be rewarded with growth, the company could put this excess cash towards future appealing acquisitions.

Finally, the S&P/ASX 200 Index (ASX: XJO) has been no match for Wesfarmers on the ASX in 2021. The company’s share price has risen by 16.2%, compared to the benchmark’s 10%.

The post How much cash does Wesfarmers (ASX:WES) have and where might it be looking to deploy it? appeared first on The Motley Fool Australia.

More reading

• RBA maintains interest rate but removes 2024 reference. What could this mean for ASX shares?
• What do Wesfarmers (ASX:WES) and Amazon.com have in common?
• Could this be a fly in the ointment for Woolworths’ (ASX:WOW) push into healthcare?
• Can Wesfarmers (ASX:WES) win the battle to take over API?
• ASX 200 (ASX:XJO) midday update: Afterpay sinks, Woolworths bids for API

Motley Fool contributor Mitchell Lawler 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 Wesfarmers 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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Luckily for investors, the tech sector is filled with companies with strong growth potential.

But which ones are in the buy zone right now? Three that are highly rated by analysts right now are listed below:

Adore Beauty Group Limited (ASX: ABY)

The first ASX tech share to look at is Adore Beauty. It is a leading online retailer in the $11.2 billion Australian beauty and personal care market. Adore Beauty currently has almost 1 million active customers using its platform. From these customers, it generated revenue of $63.8 million during the first quarter. Even annualised, this implies only a modest market share at present, which gives it plenty of room to grow in the future. UBS is a fan of the company and currently has a buy rating and $6.00 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX tech share to consider is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. It has also just announced the proposed acquisition of New Zealand-based Builderscrack for A$11.8 million. It is a leading online tradie marketplace with 4,000 active tradies and 200,000 registered homeowners across the NZ$26 billion total addressable market. Goldman Sachs is very positive on Hipages future and believes it is well-positioned for growth over the long term. The broker currently has a buy rating and $4.95 price target on its shares.

Life360 Inc (ASX: 360)

A final ASX tech share to look at is Life360. It operates in the digital consumer subscription services market, with a focus on products and services for digitally native families. The company’s increasingly popular app currently has over 30 million active users across the globe. It has also bolstered its offering with complementary acquisitions of wearables company Jiobit and items tracking company Tile. These provide significant cross-selling and expansion opportunities. Bell Potter is very bullish on Life360’s future. So much so, the broker has a buy rating and $16.25 price target on them.

The post 3 hot ASX tech shares to buy in 2022 appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• Are these 2 ASX tech shares good buys in December?
• Why Hipages, IGO, Talga, and Vulcan shares are storming higher
• Goldman Sachs loves these ASX tech shares
• Here’s why the Life360 (ASX:360) share price is leaping 12% today

Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Hipages Group Holdings Ltd. and Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited and Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re a shareholder in the ASX 200 energy share Oil Search Ltd (ASX: OSH), there was some big news out this morning that you should probably pay attention to.

As investors might know by know, Oil Search received a takeover offer from its fellow ASX 200 oil share Santos Ltd (ASX: STO) earlier this year. After a few bites at the apple, Oil Search finally accepted a takeover offer from Santos back in September. Well, this morning, investors were told that the merger is officially now “effective” after the scheme of arrangement was approved by the National Cout of Papua New Guinea. That means that today, 10 December, will be the last day that Oil Search graces the ASX boards.

So if you own OSH shares, what happens now?

What happens to my Oil Search shares now?

Well, if you haven’t sold them by the end of today’s trading day, here’s what happens next. Investors holding Oil Search shares are set to receive 0.6275 Santos shares for every Oil Search share held. So say an investor owns 10,000 Oil Search shares. Following the completion of this deal, they will instead own 6,275 shares in Santos.

The combined company is set to have a market capitalisation of roughly $22 billion. It will be (in Santos’ words), a “regional champion of size and scale” with “pro-forma 2021 production of approximately 117 million barrels of oil equivalent”.

Here’s some of what Santos CEO Kevin Gallager had to say this morning:

Santos and Oil Search are stronger together and will have increased scale and capacity to drive a disciplined, low-cost operating model and unrivalled growth opportunities over the next decade…

The merger creates a company with strong and diversified cash flows, providing a platform to deliver shareholder returns and successfully navigate the transition to a lower carbon future.

Officially, the record date for the share transition is 14 December (this Sunday). The implementation date will be 17 December, with the new Santos shares commencing normal ASX trading on 20 December.

The Oil Search share price is currently trading at $4.06 at the time of writing, down 1.93% so far today. What a way to go out!

The post What will happen to Oil Search (ASX:OSH) shares following the Santos merger? appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, AVZ, Irongate, and Santos shares are dropping
• Done deal: Santos (ASX:STO) and Oil Search (ASX:OSH) merger becomes effective
• 5 things to watch on the ASX 200 on Friday
• Oil Search (ASX:OSH) share price dips despite PNG court approval of Santos (ASX:STO) merger
• ASX 200 (ASX:XJO) midday update: Sydney Airport takeover update, Santos falls

Motley Fool contributor Sebastian Bowen 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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Without a doubt, 2021 has been a triumphant year for ASX-listed uranium shares. To illustrate, many companies with exposure to the silvery-grey metal have surged 100% or more in value this year.

The heightened concerns of climate change have nudged governments to take their emission targets more seriously. In turn, countries are beginning to see nuclear energy as a key piece in the net-zero carbon emissions puzzle.

At the same time, uranium supply has been uncertain following years of low prices. This has made many operations uneconomical in the past. However, as the supply and demand dynamics have come into effect, the price of uranium has rallied in response to higher demand.

While it can be useful to understand the past, investors of ASX uranium shares are likely now looking at what next year could bring for their investments.

Mixed outlook for ASX uranium shares

Unfortunately, no one has a crystal ball informing them of a certain future. As such, experts and market commentators have mixed thoughts on what 2022 could bring for the uranium price — which is inextricably linked to the performance of ASX uranium shares.

In a recent interview, Standard Uranium president and CEO, Jon Bey shared a bullish outlook for uranium in the year ahead. Despite pulling back from its new nine-year high, set in September, Bey believes uranium could be in for a multi-year price increase.

There’s demand coming from all over the world. China has just announced 150 nuclear reactors to be built in the next 15 years. And that’s only one region. The U.S. has 95 nuclear reactors in operation. We now have bi-partisan support from both sides of government wanting nuclear reactors to stay operational longer, which is going to drive more demand.

Jon Bey, Standard Uranium

Meanwhile, commodity strategists at Morgan Stanley are taking the opposite stance. Although they share the belief there’s further potential upside in the uranium price, the strategists are unconvinced the rally can be sustained in 2022. This paints a less positive outlook for ASX-listed uranium shares.

Furthermore, the team believes the underlying supply and demand for uranium remains relatively unchanged in the last few months. Morgan Stanley’s analysts hold a price forecast of US$49 per pound by 2024. For context, uranium futures are currently trading around US$45.85 per pound.

Hard act to follow

It certainly will be challenging for ASX-listed uranium shares to continue to deliver the magnitude of returns they did in 2021. As a quick recap, here are some of the more astonishing performances from uranium companies so far this year:

• Paladin Energy Ltd (ASX: PDN) up 217% year-to-date (YTD)
• Bannerman Energy Ltd (ASX: BMN) up 220% YTD
• Lotus Resources Ltd (ASX: LOT) up 161% YTD
• Deep Yellow Limited (ASX: DYL) up 92% YTD, and
• Peninsula Energy Ltd (ASX: PEN) up 79% YTD

Investors of any of the above companies have enjoyed staggering returns. However, the new year will undoubtedly come with its own set of surprises. Ultimately, the price-performance will likely be dictated by supply and demand next year.

The post Here’s what the year ahead might look like for ASX uranium shares appeared first on The Motley Fool Australia.

More reading

• The Vimy (ASX:VMY) share price soared 13% today. Here’s why
• Why ASX uranium shares are eyeing China’s US$450 billion energy plan

Motley Fool contributor Mitchell Lawler 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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The Bank of Queensland Limited (ASX: BOQ) share price has been a poor performer in recent weeks.

For example, since peaking at a 52-week high of $9.84 two months ago, the regional bank’s shares are down almost 20% to $7.93.

This means Bank of Queensland’s shares are up just 5% in 2021.

Where next for the Bank of Queensland share price?

The good news for shareholders is that a number of brokers believe the Bank of Queensland share price could be heading a lot higher from here.

One of those brokers is Citi. According to a recent note, the broker has responded to its recent trading update by retaining its buy rating but trimming its price target slightly to $10.00.

Based on the current Bank of Queensland share price, this implies potential upside of 26% for investors over the next 12 months.

And with Citi forecasting a fully franked dividend of 49 cents per share in FY 2022, which represents a 6.2% yield, the total potential return on offer stretches to over 32%.

What did the broker say?

Citi has adjusted its earnings and valuation to reflect softer margins. However, despite this, the broker still sees enough value in the Bank of Queensland share price to maintain its buy rating.

The broker commented: “We lower our FY22-24E cash earnings by ~0.5-2%. Lower earnings revisions largely reflect recent moves in the yield curve, which have eroded margins on fixed rate loans, in addition to the adverse mix impact. We have lowered our NIM forecasts by ~3-6bps across our forecast period to reflect this headwind, although the NII revisions are mitigated by higher forecast liquid balances. We have lowered our TP to $10 given the earnings revisions, but retain our Buy recommendation.”

The post Is the Bank of Queensland (ASX:BOQ) share price going to go from $8 to $10? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why Bank of Queensland, Imugene, Webjet, and Zip shares are pushing higher
• Why the Bank of Queensland (ASX:BOQ) share price is racing 5% higher today
• ASX 200 (ASX:XJO) midday update: Zip update impresses, BOQ rises
• Bank of Queensland (ASX:BOQ) share price on watch amid FY22 guidance update

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 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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Shares in 3D geospatial data company Pointerra Ltd (ASX: 3DP) are currently on ice amid a company-requested trading halt today.

The ASX hit pause on the shares shortly after the open on Friday and they’ve been in limbo ever since. Prior to the halt, the Pointerra share price was fetching 34.5 cents, down 4.17% on its previous close.

Let’s take a closer look at what’s happening.

Why is Pointerra on ASX ice?

Pointerra requested the trading halt amid the pending release of a price-sensitive announcement.

The company says this is concerning “the award of material contracts in its US operation”. There are no further details available at this time.

The halt will remain in place until the earlier of Pointerra making the abovementioned ASX announcement or the market open next Tuesday 14 December.

The announcement follows Pointerra’s previous contract updates in September. At that time, the company had secured a $1.55 million contract with Florida Power & Light across 4 projects.

It also advised of another contract with Pacific Gas & Electric and Gridvision, each valued at approximately $250,000.

The contracts involve using Pointerra’s geospatial 3D technology to model changes in key data metrics that the 2 new partners use in their operations.

For instance, the deal with Florida Power & Light will see Pointerra’s technology model changes in vegetation growth. It will then extrapolate this data to predict vegetation growth, which will hopefully facilitate increased yields.

Pointerra share price snapshot

It’s been more than a difficult year for Pointerra shareholders, who are swimming in a sea of red.

In the past 12 months, the Pointerra share price has fallen by almost 35%. The downward pressure continued in the past month of trading, with the price falling 11.5%.

These returns have lagged the benchmark S&P/ASX 200 index (ASX: XJO) which is up 10% over the past year.

The post Here’s why Pointerra (ASX:3DP) shares are halted today appeared first on The Motley Fool Australia.

More reading

• Why is the Whitehaven (ASX:WHC) share price hitting the dirt today?
• These 3 ASX 200 shares are topping the volume charts on Friday
• The Douugh (ASX:DOU) share price is sinking 9% on Friday. Here’s why
• Brokers name 3 ASX shares to buy today
• Why is the Pengana Capital (ASX:PCG) share price struggling today?

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Pointerra Limited. The Motley Fool Australia has recommended Pointerra 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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