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ASX renewable energy shares have been an area that has been attracting an enormous amount of investors attention over the past few years. With the upcoming transition to sourcing energy from renewable sources, many investors are keen to get in front of this trend, and find the energy winners of tomorrow.

Whilst the renewable energy space has seen its fair share of twists and turns over the 20201 financial year that has just passed us by, it has still been a very interesting 12 months for this exciting sector. So let’s check out how the major ASX renewable energy shares have performed over the 12 months to 30 June 2021:

How some of the most popular ASX renewable energy shares have performed in FY21:

ASX renewable energy share	FY2021 share price performance	Market capitalisation
Tilt Renewables Ltd (ASX: TLT)	121.1%	$2.85 billion
Infratil Ltd (ASX: IFT)	66.7%	$5.23 billion
Mercury NZ Ltd (ASX: MCY)	42.1%	$8.8 billion
Contact Energy Limited (ASX: CEN)	32.3%	$6.36 billion
Genesis Energy Ltd (ASX: GNE)	19.2%	$3.51 billion
Meridian Energy Ltd (ASX: MEZ)	7.6%	$12.43 billion
Spark Infrastructure Group (ASX: SKI)	4.2%	$4 billion
New Energy Solar Ltd (ASX: NEW)	(27.9%)	$298.4 million
AGL Energy Limited (ASX: AGL)	(52%)	$5.1 billion

As you can see, the winning ASX renewable energy share for FY21 was Tilt Renewables. Tilt owns a portfolio of solar and wind farms across Australia and New Zealand. Tilt managed to put up some relatively pleasing numbers in its May full-year results.

But perhaps the biggest driver of the Tilt share price over the 2021 financial year was its suitors. Over the past year or so, Tilt has been sought after for a full takeover by both major shareholder Infratil, and Mercury NZ. Offers from both companies came out over the past 12 months, and each one gave a huge boost to the Tilt share price. Tilt shares are still on the ASX in their own right, but perhaps not for too much longer. This pursual of Tilt has also seemingly given both the Infratil and Mercury NZ share price boosts of their own, something we covered in depth back in February.

Shocks and awe

However, with Contact Energy we had a company that seemed to solely benefit from its earnings numbers over FY21. Back in January, the company got a massive share price boost when it released its monthly operating report. A big jump in the price per megawatt hour (MWh) that Contact received for its electricity generation seemed to be what got investors excited. Although the Contact share price spent the rest of the financial year retreating from the highs it saw in January, the company still managed a healthy 32.3% gain for FY21. We saw a similar occurrence with the Genesis Energy share price.

Finally, it’s worth mentioning the elephant in the room, AGL Energy. Although AGL is a long way from a pure renewables company, it is taking steps in this direction. Not only does AGL have a growing portfolio of renewable generation sets, but it’s also planning on splitting itself into two companies. However, AGL’s share price woes over FY21 largely stem from falling wholesale electricity prices, as well as the declining value of its fossil fuel-powered generation assets. At its current share price ($8.14 at the time of writing), you’d have to go back to 2004 to find the last time AGL was at its current levels. Ouch.

The post How did ASX renewable energy shares perform in FY21? appeared first on The Motley Fool Australia.

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• ASX 200 up 0.2%: Westpac asset sale, Ramsay increases Spire offer
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high

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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Nex Metals Explorations Ltd (ASX: NME) shares are skyrocketing on Thursday. At the time of writing, the Nex Metals share price is gaining a whopping 165.22% to trade at 7.7 cents.

Below we take a look at the ASX gold minnow’s latest assay results.

What assay results did the gold explorer report?

The Nex Metals share price is soaring today after the company announced bonanza gold results at the McTavish Prospect at its Kookynie Gold Project in Western Australia.

The results were reported by Metalicity Ltd (ASX: MCT), the company’s joint venture partner in the project. The report is also seeing the Metalicity share price gaining by more than 27% today.

According to the release, the results have extended the mineralisation zone to the south of McTavish. The company said 2 kilometres of strike between McTavish and Leipold remain open, with an increasing chance of defining similar high-grade lodes.

The Nex Metals share price looks to be getting a boost from what the company labels “spectacular results”. Such as:

– McTRC0049 – 5 metres @ 25.9 g/t from 28 metres including:

• 3 metres @ 41.5 g/t from 30 metres,
• 1 metre @ 91.2g/t Au from 30 metres;

– McTRC0064 – 6 metres @ 20.6 g/t from 19 metres including:

• 4 metres @ 29.1 g/t from 20 metres;

– McTRC0044 – 3 metres @ 19.1 g/t from 88 metres including:

• 1 metre @ 52.8 g/t from 89 metres; and

– McTRC0051 – 4 metres @ 3.5 g/t from 8 metres including:

• 1 metre @ 11.4 g/t from 10 metres

Nex Metals and Metalicity have 38 holes which still remain outstanding from Champion and Cosmopolitan.

Commenting on the promising results, Metalicity CEO Justin Barton said:

These are spectacular assay results from McTavish. With McTavish open along strike and at depth, and the results to date from Leipold, not only does this bode incredibly well for the pending Mineral Resource Estimate; it is also incredibly encouraging for the 2 kilometres of strike between McTavish and Leipold.

With the pending JORC 2012 Mineral Resource Estimates over McTavish, Champion and Leipold, which are all on mining licenses, this provides the company with excellent optionality over these prospects.

Nex Metals share price snapshot

Despite today’s meteoric gains, the Nex Metals share price is still down by around 20% over the past 12 months, a period that saw the All Ordinaries Index (ASX: XAO) gain 26%.

Year to date, Nex Metals shares are now up by around 37%.

The post Why the Nex Metals (ASX:NME) share price is rocketing up 165% today appeared first on The Motley Fool Australia.

More reading

• How did ASX renewable energy shares perform in FY21?
• Here’s why the Fertoz (ASX:FTZ) share price is sinking 6% today
• The 5 best performing ASX healthcare shares of FY21, did yours make the cut?
• Megaport (ASX: MP1) share price up on the back of a record quarter
• Payright (ASX:PYR) share price jumps 6% on partnership announcement

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 Fertoz Ltd (ASX: FTZ) share price is having a day to forget today. This comes after the organic fertiliser producer announced an update on its recent share placement.

During mid-afternoon trade, Fertoz shares are down 6% to 23.5 cents apiece. In earlier trade, the company’s shares had dropped by more than 13% before staging a partial recovery. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.07% to 7,604.80 points.

What’s dragging the Fertoz share price lower?

Investors are scrambling to sell Fertoz shares as the company prepares to dilute existing shareholder value.

According to its release, Fertoz advised it has received firm commitments to raise $5 million through a share placement. The offer was presented to both sophisticated and professional investors at an issue price of 15 cents per share. This equates to roughly 33.33 million new ordinary shares being added to the company’s registry.

The shares will be split across two separate tranches, with the first portion falling under the company’s listing rule 7.1. This allows up to 15% or 20 million new shares to be issued without shareholder approval.

The second portion of shares will be subject to shareholder approval at an extraordinary general meeting (EGM) to be held in 6 weeks.

Proceeds of the placement will be used to accelerate development of the company’s carbon division. In particular, this will focus on carbon sequestration, consulting activities, trading and implementation of carbon strategies using Fertoz organic fertilisers.

The remaining monies will be also allocated to recruiting carbon specialists and expanding Fertoz’s North American organic phosphate sales team.

Management commentary

Fertoz executive chair Patrick Avery spoke about the placement, saying:

Our Carbon division is an exciting growth opportunity for Fertoz, and we are pleased to receive strong support from new and existing shareholders to enable us to accelerate its development.

Carbon credits are a growing trend right now and we want to capitalise on our position to be a leader in this field. Our Carbon division has already proved popular with customers and will greatly enhance our ESG credentials.

In addition, completing this $5 million placement will enable us to grow our sales team in North America, and it is important to us to continue to scale up our organic fertilizer operations as the foundation of our business across multiple regions.

The Fertoz share price has gained more than 230% over the past 12 months and is also up by over 300% in 2021.

The post Here’s why the Fertoz (ASX:FTZ) share price is sinking 6% today appeared first on The Motley Fool Australia.

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• Up 240% in June, the Fertoz (ASX:FTZ) share price hit a 52-week high today

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. 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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Healthcare is a constantly changing industry in which you may be asking yourself if your investments are up to date. While the healthcare sector underperformed the S&P/ASX 200 Index (ASX: XJO) in FY21, there were still some ASX-listed showstopping shares in the mix.

We have compiled the five best-performing healthcare shares of FY21 to gain an understanding of the companies that performed where others slumped.

The pool of candidates is contained to constituents of the top 500 largest companies on the ASX – also known as the All Ordinaries Index (ASX: XAO).

So, the question is… did any of your shares make the cut?

Healthiest returns from these ASX shares in FY21

You might notice it’s not the likes of CSL Limited (ASX: CSL) or Cochlear Limited (ASX: COH) making the list this time around.

Instead, the smaller end of the index produced handsome returns to shareholders in the last financial year.

Immutep Ltd (ASX: IMM)

The first healthcare company making the top 5 is also the smallest by market capitalisation at $400 million. Immutep is a biotechnology company that primarily focuses on the development of immunotherapy cancer treatments. The company’s main product is efti, which enables the immune system to kill cancer cells.

Investors rallied around positive developments for the biotech throughout FY21. Some notable steps forward included receiving fast track designation from the United States Food and Drugs Administration (FDA) in April; being granted a patent from China in May, and raising $65 million for further clinical trials in June.

As a result of all the excitement, this ASX healthcare share surged 244% during the 2021 financial period.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix is another biotech company trying to tackle cancer. However, Telix’s area of development is in the radiation therapy space, rather than immunotherapy. Despite annual revenues being sub-$6 million and the company experiencing widening losses, investors were buying up shares in FY21.

It appears several news events acted as a catalyst for the company’s shares. Back in May, Telix announced that its bone marrow conditioning drug TLX66 had “met study objectives” in patients during a clinical trial. On top of that, in January the FDA approved recruitment for a study involving Zirconium Imaging in Renal Cancer Oncology (ZIRCON).

By the end of the financial year, this ASX healthcare share had climbed 307%. It might be hard to believe, but Telix Pharmaceuticals now holds a $1.61 billion market cap.

Race Oncology Ltd (ASX: RAC)

Coming in at number three on the list, Race Oncology is another cancer drug developer. The company’s specific drug of focus is Bisantrene, which is a small molecule anti-cancer drug that is a less cardiotoxic chemotherapeutic.

Throughout the last financial year, Race announced some key data for progressing its treatment. In November, the company announced preclinical results for the use of Bisantrene in treating breast cancer. The evidence allowed the treatment to progress to human breast cancer trials. Additionally, in February Race Oncology’s treatment displayed encouraging preclinical results for the treatment of ovarian cancer.

These findings have been met with investor enthusiasm. For that reason, the Race Oncology share price surged 307% in FY21. That’s nearly 10 times as great of a return than what Cochlear shareholders enjoyed.

Imugene Limited (ASX: IMU)

Strap yourself in for this ASX healthcare share, the returns are about to get crazy… Our first official 10 bagger on the list is immune-oncology company Imugene. This company’s share price rose an astonishing 1009% during the course of the financial year.

There were a few milestones that set the pace for this company’s shares. To begin with, November saw Imugene announce positive survival results in phase 2 trials of its HER-Vaxx in advanced gastric cancer. Going on from that, the company then licensed an oncolytic virus from City of Hope to use as a therapy against solid tumours.

Finally, the last big push occurred when the executive chairman and CEO announced they were increasing their shareholding in the company in May.

Anteotech Ltd (ASX: ADO)

Lastly, crowning the very best performing ASX healthcare share in FY21… surface management technology specialist, AnteoTech. This company has surfed the COVID-19 wave, where other companies were dumped by it.

A major boom in the Anteotech share price occurred when its customers, Ellume, announced an agreement with the United States Department of Deference for its emergency use authorisation COVID-19 at-home test. The reason being is that AnteoTech supplies Ellume with its AnteoBind technology.

In addition to the company supply COVID test, it has its own rapid test platform dubbed EuGeni. The EuGeni reader received CE Mark registration for rapid diagnosis in April.

The market potential for rapid COVID testing catapulted this ASX share’s price 1,175% higher in the last financial year.

The post The 5 best performing ASX healthcare shares of FY21, did yours make the cut? appeared first on The Motley Fool Australia.

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• ASX 200 rises, Challenger soars, Zip jumps

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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Shares in Megaport Ltd (ASX:MP1) are gaining today after the company released a report on its record performance over the final quarter of the 2021 financial year, which included an update on its products.

At the time of writing, the Megaport share price is up 0.67%, with shares in the software-defined network service provider swapping hands for $16.64. However, earlier today the Megaport share price was $16.93 ­– a 2.41% increase.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.07% right now.

Let’s take a look at the news released by Megaport today.  

What could be driving the Megaport share price?

Fourth quarter performance

Megaport reported record growth across all its metrics in the quarter just been.

A total of 168 new customers were added to Megaport’s services over the 3-month period – that represents an 8% quarter-on-quarter increase. Megaport now has 2,285 customers.

The company’s monthly recurring revenue increased by $735,000 to reach $7.5 million in June. It also reported record growth in its underlying monthly reoccurring revenue, which increased by $667,000 over the quarter.

Megaport’s total revenue was $22.7 million – 16% more than its previous corresponding period. At the end of June, the company had $136.3 million cash in the bank.

Additionally, the Megaport share price gained 47% over the quarter just been.

Product updates

Megaport also announced a number of updates on its products.

First, it announced its Megaport Virtual Edge service has integrated three leading software-defined networking in a wide area network (SD-WAN) service providers. Megaport is also working to integrate another 3 SD-WAN providers. It says its “growing ecosystem” of partners will increase the service’s functionality.

Megaport also announced demand for 100 gigabit customer access ports is increasing. The company is working to get more port inventory to stay ahead of demand. Also, it has increased its deployment of 100 gigabit port speeds. They are are now available in 64 sites across Megaport’s network.

Additionally, Megaport announced its Megaport cloud routers are continuing to be popular. Eighty routers were sold during the last quarter – 19% more than in the previous quarter. Megaport cloud router users now make up 12% of Megaport’s customer base.

Finally, Megaport’s partnership with Digital Realty Trust is continuing strong. The companies plan to send Service Exchange, Powered by Megaport to the market in the current quarter. Service Exchange is a white-label of Megaport’s platform.

Digital Realty has recently sold its holding in Megaport, but the two are focused on continuing the partnership.

Commentary from management

Chief executive Vincent English said of the news potentially driving the Megaport share price today:  

Our record quarter is a direct outcome of the increased demand for Megaport services as businesses accelerate their digital transformation and cloud-based initiatives. With accelerating adoption of all Megaport services, our customers are taking advantage of the power of the Megaport platform as a whole.

… With a record quarter in the books, we also built a strong commercial pipeline to keep the momentum going into the new fiscal year… Megaport is well positioned to continue investing in our revenue engine to capture the increasing demand for connectivity services in FY22 and beyond.

Megaport share price snapshot

With today’s gains included, the Megaport share price has grown by 17% year to date. It has also gained 19% over the last 12 months.

The company has a market capitalisation of around $2.5 billion, with approximately 156 million shares outstanding.

The post Megaport (ASX: MP1) share price up on the back of a record quarter appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Payright Ltd (ASX: PYR) share price raced 6% higher in morning trade following a partnership announcement from the company.

Shares in the Australian-based buy-now, pay-later (BNPL) provider have since retreated slightly, trading at 56.5 cents at the time of writing, up 4.63%.

Let’s take a closer look at what Payright released to the ASX market today.

Payright extends merchant offering

The Payright share price is pushing higher after the company delivered a positive update to investors.

In today’s statement, Payright advised it has teamed up with Australian fintech, Mint Payments.

Founded in 2006, Mint Payments processes mobile payments and transactions across Australia, New Zealand and Singapore. The group provides an online platform that enables businesses to accept credit and debit card payments on smart devices. Its merchant base includes well-known brands such as Nutrimetics, Tupperware, Fuji Film, Nestle, Helloworld and Jim’s Financial Services.

The collaboration between the pair will see Payright integrate its BNPL solution into Mint’s online payments processing system. This provides more than 7,000 merchants from Mint Payments with access to Payright’s BNPL offering for e-commerce and instore transactions.

In effect, the partnership represents a significant opportunity in which Mint Payment merchants can use Payright’s solution. The BNPL company noted that extending its footprint through its merchant base, will drive further value for shareholders.

Management commentary

Payright co-CEO Piers Redward welcomed the partnership, saying:

Our partnership with Mint Payments will play an important role in the evolution of our payment ecosystem.

Mint Payments services a reputable and extensive network of more than 7,000 merchants across travel and accommodation, online retail and hospitality, trade and professional services, making it a strategic fit for our BNPL product tailored to higher-value purchases.

Mint Payments co-founder and group CEO Alex Teoh added:

BNPL continues to rise in popularity as a payment method and Payright’s seamless user experience and focus on bigger ticket items made it an attractive partner for our business. Together with Payright, we look forward to continuing to make e-commerce less complicated for Australian consumers.

About the Payright share price

Over the past 12 months, the Payright share price has fallen more than 40%, and is down around the same amount year-to-date. The company’s share price hit an all-time low of 41.5 cents in late May.

Payright has a market capitalisation of roughly $39 million, and approximately 68 million shares on its books.

The post Payright (ASX:PYR) share price jumps 6% on partnership announcement appeared first on The Motley Fool Australia.

More reading

• Why the Payright (ASX:PYR) share price has surged 10% today
• Payright (ASX:PYR) share price jumps 5% on positive quarterly update

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. 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 Lithium Australia NL (ASX: LIT) share price is powering higher today after the company announced its subsidiary’s cathode powder has met industry standards.

At the time of writing, the Lithium Australia share price is 12 cents – 9.09% higher than its previous closing price.

Let’s take a closer look at today’s news from Lithium Australia.

A win for Lithium Australia’s cathode powder

Lithium Australia announced today VSPC Ltd’s second-generation lithium manganese ferro phosphate (LMFP) cathode powder has met industry performance and physical property specifications.

VSPC is a subsidiary of Lithium Australia.

LMFP is a high-capacity lithium-ion battery cathode powder that contains no nickel or cobalt.

According to the company, it’s a cheaper and safer cathode material to use in high-energy drawing applications, such as electric vehicles and large-scale energy storage.

Additionally, the company states it can customise the cathode material’s performance criteria to individual customer specifications.

Lithium Australia states Tesla Motors and BYD are phasing out traditional lithium-ion batteries. According to the company, the electric vehicle producers are choosing instead to use those made with LMFP cathode material.

Previously, the company had sent VSPC’s cathode material to potential customers for testing. Lithium Australia hasn’t reported on their findings.

Commentary from management

Lithium Australia’s managing director Adrian Griffin said of the news:

(The company) has not only demonstrated its unprecedented ability to produce high-performance LMFP (the next generation of energy-storage material) but has done so on schedule… Lithium Australia continues to evaluate commercial production opportunities in the most rapidly expanding battery markets globally, with a view to shortening supply chains and reducing the carbon footprint of battery production.

Lithium Australia share price snapshot

Today’s gains included, the Lithium Australia share price is now 100% higher than it was at the start of 2021.

It has also gained 140% since this time last year.

The company has a market capitalisation of around $99 million, with approximately 906 million shares outstanding.

The post Lithium Australia (ASX:LIT) share price gains 9% on cathode powder win appeared first on The Motley Fool Australia.

More reading

• Lithium Australia (ASX:LIT) share price surges 10% on joint venture update

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended 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 Cirralto Ltd (ASX: CRO) share price has been among the best performers on the ASX on Thursday.

At one stage today, the transaction services company’s shares were up as much as 25% to 7 cents.

The Cirralto share price has eased back since then but remains 14% higher at 6.4 cents at the time of writing.

Why is the Cirralto share price surging higher?

Investors have been bidding the Cirralto share price higher today following the release of a couple of positive announcements.

According to the first announcement, the company has signed a five-year referral agreement with payments giant Mastercard.

Under the terms of the agreement, Mastercard may introduce potential sales leads and business opportunities to Cirralto and will receive a trade facilitation fee for each successfully on boarded customer. Cirralto will retain at least 70% of the gross profit margin on each customer contract.

Cirralto’s CEO, Adrian Floate, said: “We are very excited to announce that we have signed an agreement with Mastercard, with whom we have developed a very strong relationship between 2020 and 2021.”

“This Agreement serves as a strong validation of what we are doing while also providing us the opportunity to potentially access a significant customer base. The solutions we will provide to Mastercard customers provide the Company with a fantastic opportunity to rapidly scale its business and grow within Australia and abroad,” he added.

What else?

Also giving the Cirralto share price a boost was a second announcement of another five-year referral agreement.

This time it is with data layer specialist Fresh Supply Co. It captures operational farming data from a variety of sources and makes it consumable by the financial sector.

This deal will see Cirralto provide trade finance solutions and integration services to business customers, in addition to merchant on record payment services via existing arrangements.

Management notes that providing the agricultural industry access to trade finance reduces the risk of non-payment and improves efficiency and cash flow for both the buyer and seller. This enables farmers to get paid when specific milestones are met in the paddock-to-plate supply chain.

Mr Floate commented: “Working with Fresh Supply Co to help Aussie farmers is very humbling. By utilising our flexible payment solutions and the data mining technology intrinsic in Fresh Supply Co’s business, we are able to positively impact Australia’s Agricultural industry to drive improved cash flow and better business growth for those businesses.”

Following today’s gain, the Cirralto share price is up 60% since the start of the year.

The post Why the Cirralto (ASX:CRO) share price is zooming 25% higher today appeared first on The Motley Fool Australia.

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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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The Sims Ltd (ASX: SGM) share price is in the green today. This comes after the company announced it received development approval for its pilot resource renewal facility in Queensland.

At the time of writing, Sims shares are swapping hands for $16.05, up 1.39% from yesterday’s close.

Let’s take a look at what the metal-recycling company said in its release today.

New pilot resource facility

According to Sims’ announcement, development approval has been granted from the Queensland Government and Brisbane City Council for its resource renewal facility in Rocklea.

The company expects its Rocklea facility to become operational in 2022. It will focus on research and development to “advance technology across the programme”.

Sims managing director and chief executive Alistair Field said:

Sims Resource Renewal is about creating a truly closed loop in metals recycling and a genuinely circular business model.

The company also mentioned the notion of sustainability:

Producing hydrogen supports the transition to a more sustainable energy landscape, and it
enables Sims to advance its purpose to create a world without waste to preserve our planet.

Following a commercial demonstration in the United States, Sims also plans to produce hydrogen for industrial use. This would take place at its proposed facility in Campbellfield, Victoria.

The proposed facility in Melbourne’s north west will use green energy to power operations, according to Sims.

Further, at this facility the company will continue its plans to produce recycled materials in critical infrastructure, such as in construction and roads.

Sims share price snapshot

This year to date, the Sims share price has gained 17%. Furthermore, it has gained 112% over the past 12 months.

The gains exhibited over this time outpace the S&P / ASX 200 Index (ASX: XJO)’s return of 9.3% and around 23% over these same periods.

Sims has a market capitalisation of $3.2 billion, and paid a 12 cents per share dividend in March.

The post Sims (ASX:SGM) share price edges higher as new facility approved appeared first on The Motley Fool Australia.

More reading

• Why the Sims (ASX:SGM) share price is surging 6% higher 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 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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There are two contradictory forces bumping heads in the share market currently.

One is the topic du jour, inflation. The negative influence of rising inflation and interest rates on growth stocks has been well-documented.

The other is the ever-increasing influence of technology in our lives. While COVID-19 may have given tech adoption a boost, the trend was already well underway and will continue for years, decades and centuries to come.

The trouble is, many ASX tech shares represent forward-looking businesses that favour low-interest rates.

So how does an investor reconcile these two opposing drivers?

Bell Potter industrials analyst Chris Savage said the post-COVID environment does threaten to entrench the rotation out of growth into value stocks.

“We therefore believe it is now more of a stock picker’s market and are particularly focused on those technology stocks where we believe there is either relative or absolute value,” he said in a memo to clients.

“We continue to be positive on the technology sector in Australia… we believe there are a number of good quality stocks in the sector with reasonable to strong growth outlooks.”

These are the 3 ASX tech shares Bell Potter nominated that could thrive in the post-COVID world.

Adacel could exceed already-upgraded forecasts

Melbourne company Adacel Technologies Limited (ASX: ADA) makes air traffic control systems.

Its shares sat at 97 cents before the market opened on Thursday.

Savage said the company has already upgraded its financial year guidance.

“It now forecasts profit before tax between $7.0 and $7.3 million – and we believe it will at least achieve the guidance if not exceed it.”

The business is sitting on “several million dollars” of cash, he added, and restarted a stock buyback at the start of the year.

“The company has already paid an interim dividend of 2.75c this year and we expect another reasonable dividend at year end,” said Savage.

“The stock looks value on an FY22 PE ratio of around 13x.”

Bell Potter rates Adacel as a buy, with a price target of $1.25.

Teenagers are breaking out

It’s summer in the northern hemisphere and the US is transitioning to post-vaccination life.

This bodes well for Life360 Inc (ASX: 360), according to Savage, which makes an app that tracks teenagers’ movements.

“The company is likely to be a major beneficiary of the widespread rollout of COVID vaccines – particularly in its home market of the USA,” he said.

“This was evident in the Appendix 4C release in late April and we expect this trend to continue over the remainder of the year and into next.”

Life360 shares traded for $6.99 before market open on Thursday. It’s already risen more than 80% this year.

“The stock is not cheap on an EV/revenue multiple of circa 5x in 2022 but… looks reasonable value relative to global comps.”

Bell Potter advises the tech share as a buy, with a price target of $7.

Nitro has ‘reasonable chance’ of upgrade

Shares for document productivity software provider Nitro Software Ltd (ASX: NTO) has only risen 0.94% this year so far.

But this belies the business’ health, said Savage.

“The company has had a strong start to the calendar year with annual recurring revenue at 31 March 2021 up 66% compared to 31 March 2020 and the CEO saying there is ‘accelerating sales momentum’ in the business.”

Savage’s team believes there’s “a reasonable chance” Nitro will upgrade its financial year 2021 guidance around August when the first half results are announced.

“Our forecasts already reflect this,” he said.

“The stock is not cheap on an EV/revenue multiple of circa 7x in 2022 but looks reasonable value relative to global comps.”

Bell Potter rated the stock as a buy, with a price target of $3.75. Nitro shares were $3.22 before the market opened Thursday.

The post 3 ASX tech shares for the post-COVID world appeared first on The Motley Fool Australia.

More reading

• 2 exciting ASX tech shares tipped as buys
• 2 quality ASX growth shares that could be buys in July
• Here are the 5 best performing ASX tech shares from FY21
• Broker tips Life360 (ASX:360) share price to keep rising after hitting record high
• Top ASX shares to buy in July 2021

Motley Fool contributor Tony Yoo owns shares of Nitro Software Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Life360, Inc. 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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