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The Pushpay Holdings Ltd (ASX: PPH) share price has come under pressure on Monday.

In late afternoon trade, the donation and community engagement platform provider’s shares are down 2.5% to $1.58.

Why is the Pushpay share price under pressure?

The catalyst for the weakness in the Pushpay share price on Monday has been the exit of a key member of its executive team.

According to the release, the company’s Chief Financial Officer, Shane Sampson, has resigned to accept a new opportunity at another ASX-listed company, Serko Ltd (ASX: SKO). Mr Sampson will be leaving the company on 1 October 2021.

Pushpay’s CEO, Molly Matthews, commented: “On behalf of the Pushpay team, I would like to thank Shane for his dedication and commitment to the Company over the past six years. During his tenure, Shane has been instrumental in driving the increased sophistication of the Company’s financial reporting, and the scaling of our finance operations across the US and New Zealand.”

“As an invaluable member of our Executive Leadership Team, Shane played an integral role in the acquisition of Church Community Builder and successfully combining the financial reporting of the two organisations. We are extremely grateful for Shane’s leadership and support, and wish him all the best with his future endeavours,” she added.

Pushpay revealed that it has begun an executive search to appoint a new Chief Financial Officer who will be based in the company’s US office. It plans to advise the market in due course.

Pushpay’s loss is Serko’s gain

Serko CEO, Darrin Grafton, was pleased to be able to appoint Mr Sampson as the travel technology company’s new Chief Financial Officer.

He commented: “Serko is on a global growth trajectory, and we believe Shane brings the strategic, financial and commercial acumen needed to help lead our business through to the next phase. As well as being a technically skilled financial professional with a strong track record of developing high performance teams, he has the capability to add value from a broader commercial perspective and we’re excited to welcome Shane to our Executive team.”

The post Why the Pushpay (ASX:PPH) share price is under pressure 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. owns shares of and has recommended PUSHPAY FPO NZX and Serko Ltd. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended Serko 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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The Sezzle Inc (ASX: SZL) share price managed to topple its large cap buy now, pay later (BNPL) peers in terms of FY21 gains.

Shares in the US-based BNPL company delivered a 134% return in FY21, compared to the Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) share prices which increased 92% and 43% respectively.

With FY21 said and done, let’s take a look at what Sezzle is up to in FY22.

What Sezzle has planned for FY22

Launch of Sezzle Up

Sezzle Up was launched in 4Q20 as an “upgraded” version of the existing Sezzle experience.

For customers, the benefit of upgrading to Sezzle Up is that it enables the company to report their payment histories to credit bureaus. By making payments on time, customers can improve their credit scores and increase their spending limits to give them more buying power.

For Sezzle, the primary payment processing method is an automated clearing house (ACH).

In the company’s first quarter results, it observed a positive shift in payments towards ACH. In 1Q20, less than 3% of payment dollar volume was processed with ACH. By 1Q21, ACH was processing more than 15% of dollar volume.

Sezzle said ACH payment processing fees are approximately 150 basis points lower than traditional forms of payment.

Pleasingly, the first quarter results helped rally the Sezzle share price 7% higher to $9.63.

International expansion

International markets are certainly the name of the game for ASX-listed BNPL companies.

While Afterpay and Zip might steal the spotlight for international expansion, Sezzle has also been busy testing the waters of global opportunity.

In July 2020, Sezzle launched a pilot test for product-market fit in India. According to its FY20 annual report, the company said “while it is still in the very early stages, we are optimistic about the opportunity to be a first-mover in such a high growth market”.

In December 2020, the company began product discovery tests in Europe, saying “we are cost-effectively building the infrastructure for future expansion”.

More recently, in its first quarter results, the company announced its entry into Brazil with a similar “playbook to India and Europe — limited investment, low risk and minimal resource requirements”.

While product launch timing is uncertain, Sezzle said Brazil represents “a long-term opportunity considering it is one of the ten largest countries in the world, measured by GDP and population”.

Sezzle share price snapshot

At the time of writing, Sezzle shares are trading even at $9.01.

Based on the current share price, Sezzle has a market capitalisation of around $930 million.

The post Got Sezzle (ASX:SZL) shares? What’s in store for FY22? appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Sezzle Inc. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle 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 Centuria Capital Group (ASX: CNI) are gaining today. In fact – they’ve reached a new all-time high. Right now, the Centuria share price is $2.97, which is 2.77% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.03% higher today, while the All Ordinaries Index (ASX: XAO) has lost 0.01%.

The Centuria share price has also gained an impressive 8% over the last 5 trading days, and 10% over the last 30 days.

Let’s take a look at what Centuria has been up to over the past month.

The month that’s been for Centuria

Primewest takeover

Possibly the biggest news out of Centuria this year has been its takeover of fellow ASX-listed real estate funds management company Primewest.

Centuria announced its plans to takeover Primewest in April. Last month, Centuria told the market it must acquire all outstanding shares in Primewest, as its interest in the company had exceeded 90%.

Primewest officially delisted on 29 June.

The takeover saw Centuria paying $1.51 per share of Primewest. Each lot of $1.51 was made up of 20 cents cash and 0.473 Centuria securities.

Following the takeover, the value of Centuria’s assets under management has increased by 90% to $16.8 billion.

That makes it the fourth largest real estate fund manager on the ASX.

Unlisted capital raise

On 10 June, Centuria announced the company’s unlisted Centuria Government Income Property Fund (CGIPF) was to undertake a $133 million capital raise.

The capital raise was the largest unlisted single asset capital raise that Australia had seen in 15 years.

The cash was to go towards purchasing a high rise building in Melbourne’s Footscray.

The 14-storey office building was to cost the fund $224 million.

Centuria share price snapshot

2021 has been a ripper year for the Centuria share price.

So far, its gained more than 14% year to date. It is also 68% higher than it was this time last year.

The company has a market capitalisation of around $2.2 billion, with approximately 784 million shares outstanding.

The post The Centuria Capital (ASX:CNI) share price reaches new all-time high appeared first on The Motley Fool Australia.

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• ASX 200 Weekly Wrap: ASX finishes FY21 on a high

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. 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 Dicker Data Ltd (ASX: DDR) share price is only slightly up after releasing a market update on its financial performance in H2 of FY21.

An intraday high of $11.60 has dropped to $11.47 as of writing – still up 0.35% on Friday’s close. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.11% higher.

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

Revenue and profit update

In a statement to the ASX, Dicker Data declared its unaudited revenue and net profit estimates for the second half of the last financial year.

According to the company, revenue for the period came in at $1.07 billion – a 6.4% increase on the prior corresponding period (pcp). It is estimating net profit before tax to be roughly $45 million, which represents a 7.1% uplift on the pcp.

While these are not insignificant growth rates, they are lower rates than this time last year. Revenue at the end of FY20, for example, increased 18.2%.

Dicker Data blames a sluggish Q3 with flat revenue growth and a shortage in computer chips for the reduced rate.

The company expects this shortage to continue for some time to come but expects to clear its backlog of orders by the end of this calendar year.

Last year’s strong revenue growth could also be attributed to the unique market situation brought on by the COVID-19 pandemic. A surge in demand for IT products caused by the shift in remote work and learning saw a spike in Dicker Data sales. Many companies that saw similar sales spikes have struggled to match those levels one year on.

Dicker Data share price snapshot

Over the past 12 months, the Dicker Data share price has increased by roughly 50%. This includes an almost 10% jump in value since the beginning of this year.

Since reaching a record high of $12.60 a share back in late February, shares in the company have fallen by 9%. The release of its Q3 results saw a drop in its share price in May.

Dicker Data has a market capitalisation of $1.98 billion.

The post What’s happening with the Dicker Data share price today? appeared first on The Motley Fool Australia.

More reading

• Here are the 5 best performing ASX 200 tech shares from FY21

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 shares of and has recommended Dicker Data 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 planning to add some growth shares to your portfolio in July, then you might want to look at the shares listed below.

All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage and eponymous Breville brands, to name just two. It has been growing at a strong rate over the last few years thanks to acquisitions, its international expansion, and its continued investment in research and development. The latter is ensuring that Breville has a strong and innovative product portfolio.

UBS is positive that its growth can continue for the foreseeable future. As a result, it analysts currently have a buy rating and $35.70 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider. Hipages’ platform connects tradies with residential and commercial consumers, providing job leads from homeowners and organisations looking for qualified professionals.

Analysts at Goldman Sachs are very bullish on the company. They believe it has a bright future and see a huge growth runway ahead as its ecosystem builds. Goldman has a buy rating and $3.40 price target on its shares.

PointsBet Holdings Ltd (ASX: PBH)

A final growth share to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ and US markets. PointsBet offers innovative sports betting products and services via its scalable cloud-based platform. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and innovative new products.

Goldman Sachs is also a big fan of PointsBet. Due to its huge opportunity in the United States, the broker is tipping the company to grow very strongly during the 2020s. Goldman currently has a buy rating and $17.20 price target on its shares.

The post 3 stellar ASX growth shares analysts love 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. owns shares of and has recommended Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a modest gain. The benchmark index is currently up slightly to 7,312.9 points.

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

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 10% to $7.46 following the release of its earnings guidance for FY 2021. According to the release, the fund manager expects its underlying profit after tax (UPAT) to be between $10.7 million and $11.2 million for FY 2021. This represents a midpoint increase of 18% against the prior corresponding period. This is down from its prior (pre performance fee guidance) of $8.8 million to $9.3 million. That prior guidance represented a midpoint increase of 29% on FY 2020’s pre performance fee profit.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 4% to $28.80. This follows the release of a change of director’s interests notice which reveals significant insider selling. According to the notice, the company’s CEO, Philippe Wolgen, has sold 122,675 shares on-market. Dr Wolgen received a total consideration of approximately $3.75 million.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is down 6% to 83.5 cents. This is despite the lithium explorer revealing that it has defined significant new exploration targets in close proximity to its Buldania Lithium Project in Western Australia. Though, with the company’s shares more than doubling in 2021, this decline could be the result of profit taking.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price has fallen 5% to $4.93. This follows news that the gaming company plans to demerge its lotteries and Keno business. This will see two separate ASX-listed companies – Tabcorp and Lotteries & KenoCo. The former will retain its wagering, media, and gaming services businesses. This also ends the takeover approach by Betmakers Technology Group Ltd (ASX: BET), which judging by the share price weakness, some shareholders may have preferred.

The post Why Australian Ethical, Clinuvel, Liontown Resources, & Tabcorp shares are dropping 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. owns shares of and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment 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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Shares in diagnostics company Lumos Diagnostics Holdings Ltd (ASX: LDX) have started trade on a successful IPO. At the time of writing, the point-of-care (POC) diagnostic testing company’s shares are trading at $1.36, up 8.8%.

Lumos hits the decks after successfully raising $63 million through its initial public offering (IPO).

Let’s look at what exactly the company does.

Lumos Diagnostics hits the ASX after IPO

Bringing testing to the bedside

Lumos Diagnostics operates in the healthcare technology space, specifically, developing, manufacturing, and selling point-of-care (POC) diagnostic solutions.

“What are POC diagnostic solutions?” you might ask. These are healthcare tests not carried out in a laboratory, such as those conducted bedside or during a visit to the GP.

In the case of Lumos Diagnostics, the primary focus is on testing for infectious diseases. This includes testing for bacterial versus viral infections, influenza, HIV, hepatitis, tuberculosis, sexually transmitted diseases, healthcare-associated infections, tropical diseases and, more recently, COVID-19.

At the moment, the company is concentrating on the United States and European markets. These locations account for around 64% of the global market for POC diagnostic testing.

Additionally, the company derives revenue through two distinct divisions: ‘products’ and ‘commercial services’. The first is self-explanatory while the other involves developing and manufacturing POC tests on behalf of clients for a fee.

Lumos Diagnostics’ current products comprise of two POC diagnostic tests. The first, FebriDx, is a test that rapidly identifies microbial infections in patients with acute respiratory infection symptoms.

CoviDx is the company’s other POC test. It detects antigens present on the COVID-19 virus. This POC test has been granted a CE Mark for sale in Europe, with the company also seeking regulatory clearances in the US and Canada. Given the proliferation of COVID-19 around the world, now probably seemed like a good time for Lumos Diagnostics to launch its IPO.

Backers and forecasts

According to the company’s disclosure, the IPO received backing from top-tier institutional funds, alongside existing investors including the Australian Unity Future of Healthcare Fund, Perennial, Washington H. Soul Pattinson and Co Ltd (ASX: SOL) and Ellerston.

Lumos CEO Rob Sambursky said:

Receiving support from so many institutional investors reflects the underlying strength of Lumos’ business and technology platforms.

The funds raised via the IPO will facilitate the continued expansion and commercialisation of our suite of rapid diagnostic products that have the potential to transform point of care diagnostics for the benefit of clinicians, patients and the health system as a whole.

Of the $63 million raised, $38 million went to Lumos and the remaining $25 million went to selling shareholders.

For the half-year ending December 2020, Lumos Diagnostics delivered $11.56 million in revenue. This represents an increase of 239% from its previous year. Pleasingly for shareholders, losses narrowed from $6.28 million to $5.63 million.

Finally, Lumos’ pro forma revenue in FY21 is forecasted to be $23.765 million from its two operating divisions. On this figure, the company’s market capitalisation of $202.8 million would represent a price-to-sales ratio of 8.5 times.

The post Lumos Diagnostics (ASX:LDX) share price adds 9% on IPO, raising $63m appeared first on The Motley Fool Australia.

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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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S&P/ASX 200 Index (ASX: XJO) shares could be the place to find opportunities that are market leaders and continuing to grow in size and strength.

The two businesses mentioned below are companies that are growing globally in multiple countries. They are both growing organically as well as with acquisitions.

Here are two that might be ideas:

Sonic Healthcare Ltd (ASX: SHL)

Sonic is one of the largest healthcare businesses on the ASX. It has operations in a number of different countries like USA, Germany, Australia, the UK, Ireland, Switzerland and New Zealand.

The company has experienced a high volume of COVID-19 PCR and serology tests in laboratories. This led to a significant revenue and earnings contribution, leveraging existing infrastructure. That’s how FY21 half-year revenue went up 33% and net profit increased 166%.

Management believe that the business has good geographical diversification, providing increased opportunities for expansion. Underlying strong healthcare growth drivers are unchanged according to the company.

The ASX 200 has been looking for growth opportunities. For example, it recently acquired Canberra Imaging Group which has annual revenue of around $60 million. This will increase the size of Sonic’s imaging division in Australia, broadening its footprint, adding more capable staff to its workface and increasing revenue of the division by around 10%. There is also the potential opportunity for synergy benefits. The settlement is expected in the first quarter of FY22.

Commsec’s forecast numbers suggest the Sonic Healthcare share price is valued at 23x FY22’s estimated earnings.

Xero Limited (ASX: XRO)

Xero is one of the largest ASX 200 tech shares.

It has a global subscriber base of small and medium businesses across the world. The largest markets are Australia, the UK, New Zealand and the US. Other countries are also seeing growth such as South Africa and Singapore.

The business has a very high gross profit margin. In the FY21 result it saw a gross margin improvement from 85.2% to 86%. This means that a lot of the new revenue can fall to the next profit line.

But the company isn’t making tons of profit yet because it’s heavily pursuing growth.

FY21 saw a 20% increase in subscriber growth, which contributed to a 17% rise in annualised monthly recurring revenue to $963.6 million. The ASX 200 share explains that growing awareness among small businesses of the benefit of digital tools and cloud technologies contributed to lower churn and a 38% increase in total lifetime value to $7.65 billion.

As Xero said, it “will continue to focus on growing its global small business platform and maintain a preference for reinvesting cash generated, subject to investment criteria and market conditions, to drive long-term shareholder value.”

The post 2 top ASX 200 shares that might be buys today appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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 Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Sonic Healthcare 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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It could be a wild ride for ASX energy shares as the OPEC+ oil cartel slumps into a new crisis.

A rare diplomatic spat between Saudi Arabia and long-time ally United Arab Emirates is threatening to rock the oil market.

The group of oil producing nations will meet for a third time later tonight to try to keep the alliance together, reported Bloomberg.

ASX energy shares at mercy of OPEC+

The ability for OPEC and Russia to accept production quotas was key to the Brent crude price more than doubling since its low in November last year.

The Brent price is currently at over US$76 a barrel and where it goes next will depend on Saudi Arabia bringing the UAE back into the fold.

Adding to the uncertainty is the prospect of the oil price surging higher or tumbling if the bloc cannot work out their differences.

ASX energy shares cheering the infighting

It seems that ASX investors see the discord as a bullish signal – at least for now. The Woodside Petroleum Limited (ASX: WPL) share price and Santos Ltd (ASX: STO) share price have jumped by over 2% each.

Meanwhile, the Beach Energy Ltd (ASX: BPT) share price gained 1% to $1.28 and Oil Search Ltd (ASX: OSH) share price added 0.3% to $3.87 at the time of writing.

In contrast, the S&P/ASX 200 Index (Index:^AXJO) has surrendered its morning gains and is trading only 0.1% in the black.

Rift between Saudi Arabia and the UAE

OPEC+ is trying to extend its agreement on production quotas in to 2022. The Saudis are insisting on its plan that will see production increase over the next few months and for a broader agreement to stay in place till end of next year for the sake of stability.

It’s reported that other members, including Russia, backs this plan.

However, the UAE is only supporting a short-term increase in output and is demanding better terms for itself for 2022.

Mexican standoff in the Middle East

The country wants its baseline to be increased from 3.2 million barrels a day to 3.8 million if it were to agree to the 2022 extension.

Each country measures its production cuts or increases against a baseline. This means that the higher the baseline, the more oil a country will be allowed to produce.

OPEC+ will stick to the current quotas until a new deal is struck, at least that’s the current stand of Saudi Arabia.

Why oil could surge or sink

Demand of oil has rebounded as lockdowns around the world eases and tight supply is driving the oil price higher.

On the other hand, if the UAE decides to leave OPEC, a threat it has made before, others in the group may decide not to stick to their quotas.

This could see a flood of new supply hitting the market. We all know what happened the last time there was a major disagreement within OPEC+. Saudi Arabia opened the floodgates to punish Russia and the oil price tanked.

That’s the last thing investors in ASX energy shares want to see again.

The post ASX energy shares in hotseat as OPEC+ struggles to contain crisis appeared first on The Motley Fool Australia.

More reading

• Here are the 5 best performing ASX 200 tech shares from FY21
• These ASX shares are the latest to be hit by broker downgrades
• ASX 200 up 0.1%: Sydney Airport takeover, Tabcorp demerger, a2 Milk jumps
• Why the Oil Search (ASX:OSH) share price is beating the energy index
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high

Motley Fool contributor Brendon Lau owns shares of Santos Ltd. Connect with me on Twitter @brenlau.

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 Amaero International Ltd (ASX: 3DA) share price had a strong start to the week, up 5.26% to 60 cents in early trade today. The Amaero share price then lost all its gains and was back right where it started, trading flat at its opening price of 57 cents before rebounding again to 58 cents, up 1.7%.

Today’s share price movement came after the company announced plans to build a world-class titanium powder plant in Australia.

Amaero is a specialist in metal additive manufacturing, otherwise known as 3D printing, to produce components out of various metal alloys. The company aims to supply sectors including defence, aerospace and tooling.

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

What did Amaero announce?

The Amaero share price bounced higher this morning after the company announced plans to construct a customised and proprietary titanium alloy powder manufacturing plant in Victoria.

In its release, Amaero said the $8 million facility was expected to be the world’s most advanced titanium alloy powder manufacturing facility in the world.

It will produce aerospace-grade titanium “to the highest standards at approximately half the cost of the nearest competition”, according to the company.

Amaero says this will provide the company with a “distinct advantage” when it comes to securing long-term offtake agreements with clients.

Once fully operational, the plant is expected to generate revenues of approximately $30 million per annum.

What did management say?

Amaero CEO Barrie Finnin hailed the plans, saying:

Producing titanium alloy powder in Australia will provide a stable, secure and cost-effective supply, allowing defence and other sectors to continue to advance their 3D manufacturing capabilities. This project directly supports Amaero in delivering ongoing, significant, high margin revenues via a stable commodities market.

Finnin also commented on the traction and support behind the new plant, revealing:

Amaero has signed a Memorandum of Understanding with a metal powder supply company that has established market channels for metal powder sales and we are now in the process of negotiating a collaborative distribution agreement.

In addition, we have already received letters of support for this project from two of the five largest defence companies globally indicating strong potential demand for Ti64 powder from a competitive Australian source for specific commercial and military applications.

Amaero share price snapshot

Amaero shares listed on the ASX on 6 December 2019 at an initial public offering (IPO) offer price of 20 cents per share.

The company secured manufacturing agreements for high profile companies including Boeing back in December 2020 and collaborated with Rio Tinto Limited (ASX: RIO) to commercialise its high-operating-temperature aluminium alloy.

Despite the company’s positive achievements, the Amaero share price is tracking just 0.85% higher year-to-date.

The post What’s happening with the Amaero (ASX:3DA) share price today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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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