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The Ecograf Ltd (ASX: EGR) share price is on the move today. The company announced government approval progress relating to its Epanko Graphite Mine before the stock shot up.

At the time of writing, the Ecograf share price is up 4.76% to 67 cents a share.

Epanko Graphite Mine financing progresses

Ecograf announced that the company has progressed the debt financing approval of US$60 million for its Tanzania-based Epanko Graphite Mine.

The Ecograf share price reacted positively to this news considering that the business has already invested $20 million over the past 7 years in Epanko.

Progress made to date includes completion of the feasibility study, obtainment of environmental approvals, and execution of an independent engineer’s review.

The business has also put capital toward arranging sales contracts for the export of graphite products to Europe and Asia.

In today’s announcement, Ecograf also attached a summary of the Epanko Bankable Feasibility study. In the summary, Ecograf forecasts that the Epanko Graphite Mine will generate earnings before interest, tax, depreciation and amortisation (EBITDA) of US$80 million per annum.

Ecograf intends to offer an electric vehicle battery graphite option that “provides a high quality, cost competitive alternative to existing battery graphite produced using toxic hydrofluoric acid.”

The report further notes that the metallurgical test work has shown the mine’s potential to produce 99% carbon concentrate from fresh ore.

High quality carbon helps cut purification costs connected with battery graphite production. Ecograf estimates that the average graphite concentrate production of the Epanko mine will be 60,000 tonnes per annum.

Ecograf share price snapshot

The Ecograf share price exploded 1,045% higher over the previous year and has soared 668% over the past six months.

The company has a market capitalisation of approximately $307.1 million and there are 455 million shares outstanding.

More reading

• Up 252% this year, EcoGraf (ASX:EGR) share price keeps on powering
• The Ecograf (ASX:EGR) share price plummeted 17% today
• Why is the Ecograf (ASX:EGR) share price on a wild ride today?

Motley Fool contributor Gretchen Kennedy 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 Wesfarmers Ltd (ASX: WES) share price has been a market beater over the last 12 months.

Since this time last year, the conglomerate’s shares have rallied an impressive 28% higher.

Can the Wesfarmers share price go even higher?

Don’t worry if you missed out on the strong gain by the Wesfarmers share price over the last 12 months because one leading broker believes it can still go higher.

According to a recent note out of Goldman Sachs, its analysts have reaffirmed their buy rating and $59.70 price target.

Based on the latest Wesfarmers share price of $49.99, this price target implies potential upside of over 19%.

In addition to this, Goldman is forecasting a $1.88 per share fully franked dividend in FY 2021. This represents an attractive yield of 3.75% and stretches its total potential return to approximately 23%.

What does Goldman like about Wesfarmers?

There are three key reasons the broker is bullish and believes the Wesfarmers share price can go higher.

These are its exposure to the housing market, a turnaround in the department store segment, and potential mergers and acquisitions (M&A) or capital management.

Housing market exposure

In respect to the housing market, Goldman said:

“Earnings momentum in Bunnings benefits from a strong property cycle due to its exposure to DIY and Trade home improvement categories. Housing indicators appear to be more positive in the recent updates and industry expectations remain positive for the short term. We believe this is likely to impact Bunnings positively while it cycles through the strong COVID driven sales in the past year, resulting in strong short- /medium-term earnings momentum.”

Department store turnaround

This growth is expected to be complemented by a turnaround in its department stores division. It said:

“The department stores division is currently undergoing a restructuring. While the viability of the Target business model in the longer term was a key question previously, we believe that the pandemic driven demand has resulted in the Target offer being refined to meet consumer demand, with e-commerce playing a key role within the business. We no longer expect this business to be an earnings drag to WES but believe that Target will remain a low growth, low margin sustainable engine complementing the successful Kmart business model.”

M&A or capital management opportunities

Finally, with Wesfarmers sitting on a mountain of cash, Goldman suspects that M&A or capital management initiatives might not be far away. The broker explained:

“Wesfarmers maintains a very strong balance sheet (Net cash position of A$870mn as of Dec 2020). In our estimates, the group’s leverage position offers headroom of >A$8bn for capital management or M&A before it would risk breaching the range for the A-/A3 credit rating that the group maintains. While we believe management is unlikely to return capital while macro uncertainties remain, we note WES holds strong firepower to take advantage of any long term return accretive M&A opportunities in the short term and offers potential for capital management in the medium term.”

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of 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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There is something freaky going on with Kogan.com Ltd (ASX: KGN) shares. Despite being a rare winner during COVID-19 lockdowns, the Kogan share price has nearly halved after hitting all-time highs in late 2020.

Since late January, Kogan shares have fallen by more than 38% after sinking 22% in February. At the time of writing, the Kogan share price is trading 1.9% higher for the day as the overall market bounces.  

Let’s take a look at what’s been moving the Kogan share price.

What’s been impacting the Kogan share price?

The initial catalyst that sparked a sell-off in Kogan shares can be traced to late January.

On 29 January, the online retailer released a business update for the first half of FY21. For the six months ending 31 December, Kogan reported a 96% increase in gross sales over the prior corresponding period.

Kogan also reported a 120% increase in gross profit and a 140% surge in earnings before interest, tax, depreciation and amortisation (EBITDA) on the prior corresponding period. In addition, the company boasted a strong balance sheet with a cash balance of $78.9 million.

Despite the impressive improvements, investors were quick to sell their Kogan shares.

How did Kogan perform for the first half of FY21?

The Kogan share price took another tumble after the company released its results for the first half of FY21 in late February.

For the first half, Kogan reported a 97% increase in gross sales of $638 million. In addition, the online retailer reported an 88.6% jump in revenue of $414 million. Despite record spending on marketing, Kogan also reported a 165% increase in net profit of $23.6 million.

Kogan noted a 77% year-on-year increase in active customers to 3 million. In addition, the company more than doubled its interim dividend to 16 cents per share.  

However, investors were disappointed with growth figures for January. Adjusted EBITDA for January increased 90% for the month. In comparison, Kogan reported a 269% increase in EBITDA in the first 4 months of the financial year. Kogan’s management attributed the slower growth to warehouse capacity issues.

What is the outlook for Kogan?

Kogan was one of the major winners during COVID-19 lockdowns as consumers flocked to online retailers.

For the second half, Kogan noted plans to further expand its exclusive brands and develop Kogan Marketplace. The company did not provide earnings guidance for the full year, rather opting to provide regular business updates.

More reading

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• Why did the Openpay (ASX:OPY) share price slide today?
• 3 fantastic ASX growth shares to buy in March
• International Women’s Day: Which ASX companies are fighting gender inequality?
• 5 things to watch on the ASX 200 on Monday

Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com 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 Dimerix Ltd (ASX: DXB) share price is rising today after the biopharmaceutical company announced its involvement in a trial on COVID-19 therapies.

Dimerix will be involved in the trial, named CLARITY 2.0, which has received approval from the Central Independent Ethical Review Board in India. It is expected to begin in April.

At the time of writing, the Dimerix share price has risen by 4% to 25 cents.

Dimerix’s involvement in the CLARITY 2.0 trial

Dimerix’s lead drug candidate, DMX-200, will be included in the CLARITY 2.0 trial, which will study treatment options for COVID-19.

CLARITY 2.0 will be running in India, where it will combine doses of DMX-200 with blood pressure medication to treat the respiratory symptoms associated with COVID-19.

The trial will involve 600 patients infected with COVID-19, who will be treated for 28 days and supervised for 26 weeks.

CLARITY 2.0 will be led by the University of Sydney’s Professor Meg Jardine from the NHMRC Clinical Trials Centre. It will be run in collaboration with the George Institute for Global Health India.

Professor Meg Jardine spoke to BiotechDispatch:

The SARS-CoV-2 virus downregulates and suppresses certain anti-inflammatory effects and that may tip the local lung environment towards inflammation and fibrosis and might be why the virus has such a devastating effect on lung tissue.

We generally see that people with chronic health conditions that include inflammatory drivers… are more vulnerable to respiratory complications if they contract the SARS-CoV-2 virus. Some of those inflammatory drivers interact with the blood pressure system which is why some common blood pressure medications may improve outcomes in COVID-19 disease.

Early results suggest that DMX-200 may have stronger anti-inflammatory effects when used in combination with these blood pressure medications.

It is the second clinical trial that involves using DMX-200 to treat the respiratory symptoms brought on by COVID-19.

About DMX-200

Dimerix’s DMX-200 was originally intended to treat forms of kidney disease, with which it had positive results.

The drug is a CCR2-inhibitor, aimed at reducing the damage caused by inflammatory immune cells. Thus, the company highlights that DMX-200 may also support the long-term outcomes of COVID-19 patients.

Dimerix share price snapshot

At the time of writing, the Dimerix share price is up by 4% to 25 cents. It has a year to date return of 6% and is up 70% over the last 12 months.

Dimerix has a market capitalisation of approximately $48 million, with 198 million shares outstanding.

More reading

• Here’s why the Wesfarmers (ASX:WES) share price could be great value
• What’s happening with the Kogan (ASX:KGN) share price?
• Here are some of the best performing ASX tech shares today
• Warrego Energy (ASX:WGO) share price rises despite losses increasing
• Eclipx (ASX:ECX) share price rises on positive business update

Motley Fool contributor Brooke Cooper 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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What a difference a day makes! Yesterday, we reported on how the ASX tech sector, specifically, the S&P/ASX All Technology Index (ASX: XTX), was on the brink of a bear market. A bear market is when an index falls by more than 20% from its most recent high. And yesterday, ASX tech shares were indeed knocking on that door.

But today, the sun has come out, so to speak. A the time of writing, the All Technology Index is up a healthy 3.3%, putting a floor (at least for now) under the losses of the past month or so.

So let’s look at some of the best performing tech shares today.

4 top-performing ASX tech shares

Afterpay Ltd (ASX: APT)

Afterpay is, at the time of writing, one of the top performers on the S&P/ASX 200 Index (ASX: XJO) today with a 7.8% rise to $115.85 a share. It’s a remarkable comeback from earlier in the week, which saw Afterpay shares lose more than 12% of their value at one point.

As my Fool colleague reported this morning, Afterpay has also announced today that its European expansion plans are on track with the now-completed acquisition of Pagantis, which seems to have helped sentiment as well.

Even after this move, the Aferpay share price still remains down almost 27% from where it was a month ago.

Hub24 Ltd (ASX: HUB)

Hub24 is another company that is performing well today, with its shares up 4.14% at the time of writing to $21.46. The Hub24 share price has had a brutal month, falling close to 25% from around $25.80 a month ago to yesterday’s closing level.

However, today’s upwards move has cut that fall to around 16%. That’s despite the bumper earnings that Hub24 delivered a couple of weeks ago, which included a 39% surge in net profits.

Temple & Webster Group Ltd (ASX: TPW)

The online furniture retailer is having a pretty joyous day today as well, with Temple & Webster shares rising 5.14% at the time of writing to $8.70 apiece. However, like Hub24 and Afterpay, this disguises what has also been a rough month for the company.

Even after today’s moves, the Temple & Webster share price remains down around 27% from the highs we were seeing in mid-February. It also remains around 8.7% lower than where it was just last Thursday.

Xero Limited (ASX: XRO)

The Xero share price is another top-performing tech share today. At the time of writing, Xero shares are up a healthy 3.1% to $111.68 a share. That’s still down around 16.5% from where they were a month ago, and almost 25% lower than where this ASX tech share started the year.

Even so, the company’s price-to-earnings (P/E) ratio still stands at a relatively lofty 470 at today’s prices, and the Xero share price remains up by nearly 50% over the past 12 months.

More reading

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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO, Hub24 Ltd, and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended Hub24 Ltd and Temple & Webster Group 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 Warrego Energy Ltd (ASX: WGO) share price is higher today after the company released its half-year report for FY21.

At the time of writing, shares in the company were swapping hands for 24 cents – up 4.35% on yesterday’s close. In comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.25%.

Let’s take a closer look at what the company announced.

Warrego’s half-year report

For the 6 months ending 31 December 2020, Warrego declared a net loss of $3.3 million. That’s up 31.9% on the prior corresponding period (pcp). The company did not make any operational income for the period. This was also the case in the pcp.

While wages were down 63.7% to total $483,000, professional service fees were up 276.7% to total $966,000. Similarly, the company introduced share-based payments for the period, which totalled $630,000. Finance expenses fell 80.7% on the pcp to equal $26,400.

Earnings per share (EPS) came in at a 0.09 cent loss – greater than the 0.07 cent loss of the pcp.

In good news, cash on hand more than doubled to $33.7 million. Net assets swelled 90.7%, totalling $64.9 million. The positive cash flow came as a result of a capital-raising initiative.

The West Erregulla gas field

Warrego claims the gas field, located off the coast of Western Australia, is its “primary near-term goal.” It is a 50/50 venture with Strike Energy Ltd (ASX: STX) and is estimated to contain 1.6 trillion cubic feet of gas.

Speaking about the project, Warrego Managing Director and CEO Dennis Donald said:

West Erregulla is a world-class asset, and we are working hard to ensure we achieve the optimal long-term outcome for our shareholders and customers.

We have assembled a first-rate team in Perth, who have done a lot of the heavy lifting in the past 6-12 months under the direction of our Australian CEO David Biggs, and we will continue to build out our technical and commercial capabilities.

Our successful ‘ground up’ strategy is centred on creating sustainable, long-term value in a market that is likely to be short of gas over the medium term, and we remain committed to progressing West Erregulla in a focused and logical manner to ensure the project is positioned as a supplier of choice in the WA domestic gas market.

The company also announced it held 100% of the rights to explore 2.2 million more acres in the Perth Basin.

Warrego share price snapshot

This time last year, the Warrego share price was at 11.5 cents. At today’s price, shares have increased in value by 104.35%. Warrego reached the 52-week low of 7.5 cents at the height of COVID-19. Shares ascended to the 52-week high of 27.5 cents at the end of September last year.

Warrego has a market capitalisation of $232.2 million.

More reading

• Here are some of the best performing ASX tech shares today
• Eclipx (ASX:ECX) share price rises on positive business update
• Retirement village operator Summerset Group’s (ASX:SNZ) share price stagnant on property update
• Centuria Capital (ASX:CNI) reports $57 million healthcare asset purchases
• The Hansen Technologies (ASX:HSN) share price is hitting a 52-week high

Motley Fool contributor Marc Sidarous 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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Eclipx Group Ltd (ASX: ECX) shares are edging higher today after the fleet management company provided investors with a business update. At the time of writing, the Eclipx share price has inched 0.79% higher to $1.915.

How has Eclipx been performing?

Investors appear moderately pleased with the company’s latest progress, sending the Eclipx share price into positive territory today.

In its announcement, Eclipx advised that for the first five months of FY21, it continues to perform to expectations. Recently at its annual general meeting (AGM), the group provided investors with a business update on Q1 FY21.

It said that net operating income (NOI) and net operating profit after tax (NPATA) before end of lease (EOL) were in line with estimates. To date, the company has sustained this performance through to the end of February.

In further news bolstering the Eclipx share price, the company noted that EOL income has significantly increased over the period with robust trading conditions recorded from the used car market. A limited supply of new vehicles to market in Australia and New Zealand primarily drove the surge. As a result, Eclipx revealed that EOL income stood at $26.4 million, or $5,766 per unit at the end of February. This reflects a jump of 70% when compared to the first half of 2020, which saw EOL income at $15.5 million, or $2,468 per unit.

The company stated that the higher EOL income is temporary and will fall back to normal levels. According to independent third parties, ‘the global shortage for new cars could be restored from as early as June 2021’.

Eclipx is scheduled to report its half-year results sometime in the middle of May 2021.

About the Eclipx share price

The Eclipx share price has rallied by nearly 58% since this time last year. After hitting a low of 36.5 cents last March, Eclipx shares have steadily moved in an upward trend.

Based on the current share price, Eclipx commands a market capitalisation of roughly $618 million.

More reading

• Retirement village operator Summerset Group’s (ASX:SNZ) share price stagnant on property update
• Centuria Capital (ASX:CNI) reports $57 million healthcare asset purchases
• The Hansen Technologies (ASX:HSN) share price is hitting a 52-week high
• Why the Aston Minerals (ASX:ASO) share price leapt 85% on open
• Why Accent, Fortescue, Western Areas, & Zip shares are tumbling lower

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Summerset Group Holdings Ltd (ASX: SNZ) share price will be watched closely today following an update from the retirement village operator.

In the announcement made before open, Summerset disclosed the purchase of its third property in Victoria. The property in Chirnside Park, northeast Melbourne, is planned to be a part of its NZD$170 million retirement village in the area.

Chirnside Park retirement village

Summerset’s newest retirement village in the works will deliver over 200 retirement units, ranging from one to three-bedroom variants. These options will also include independent and supported living arrangements.

Summerset Group CEO, Julian Cook, commented on the development:

The over-75 population in Chirnside Park is forecast to grow by 60% over the next decade. Our retirement villages include supported living and a residential care centre, making it easy for residents to move when their needs change.

Centrally located, the Chirnside Park village will be close to Maroondah Golf Park and Chirnside Park shopping centre, with bus and train stations close by.

Summerset recent results

Summerset also reported its 2020 full-year results a couple of weeks ago. Despite a challenging year with immense pressure on aged-care throughout COVID-19, the company managed to deliver a strong result.

Total revenue from operations increased by 12% to NZ$172.4 million. Meanwhile, on the bottom line, net profit after tax soared 32% to NZ$230.8 million. During the lockdown period, Summerset completed the construction of 356 units over 9 different locations. The village operator recorded 32 villages now completed or in development by the end of 2020. The expansion in property came with an increase in residents, from 5,500 to 6,200. 

The strong result facilitated the company’s final dividend of 7 cents per share.

Summerset Group share price recap

It likely comes as no surprise that Summerset Group’s share price has performed strongly over recent months. The company’s ability to grow profits during the pandemic obviously made investors happy. The Summerset Group share price reflects this with a 75% increase in the past year.

Although the share price has increased considerably, its price-to-earnings (P/E) ratio is still relatively low at 13 times. For comparison, the New Zealand healthcare industry, on average, trades at a 23 times multiple.

More reading

• Centuria Capital (ASX:CNI) reports $57 million healthcare asset purchases
• The Hansen Technologies (ASX:HSN) share price is hitting a 52-week high
• Why the Aston Minerals (ASX:ASO) share price leapt 85% on open
• Why Accent, Fortescue, Western Areas, & Zip shares are tumbling lower
• Got cash to invest? Here are 2 ASX shares to buy

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Centuria Capital Group (ASX: CNI) share price is flat in morning trade, down 0.21%.

This comes after the S&P/ASX 200 Index (ASX: XJO) listed company reported it had acquired 3 private healthcare assets for $57.3 million for its unlisted open-ended Centuria Healthcare Property Fund (CHPF).

What healthcare real estate did Centuria Capital acquire?

Centuria reported it had acquired the 3,400 square metre Coffs Harbour Specialist Centre in New South Wales for $23 million. It said the asset is strategically located next to the regional public hospital.

Centuria also acquired the 2,470 square metre Cairns Day Surgery in Queensland for $21.6 million. The day surgery is also situated close to 2 major hospitals in Cairns, the public Cairns Hospital and Cairns Private Hospital.

The third healthcare property Centuria acquired is the Murrumba Village Medical Centre, also in Queensland, for $12.7 million. The company said this centre will “provide allied and ancillary health services” once the building is complete in March 2022.

Commenting on the new acquisitions, Andrew Hemming, Centuria Healthcare’s managing director, said:

Since we launched CHPF in late August 2020, investor appetite has been strong. The Fund is continuing to expand its portfolio, which is aligned with our strategy to secure modern, purpose-built assets that lend themselves to efficient and effective models of care.

These new transactions align to our strategy, enabling us to deliver monthly income returns to our investors. Our last capital raise before Christmas saw the fund substantially oversubscribed. Needless to say, our focus remains on meeting investment demand for high-quality healthcare assets.

With the new transactions, CHPF’s assets under management are now worth $219.9 million across 10 healthcare assets.

Centuria Healthcare’s total portfolio across Australia stands at $1.0 billion.

Centuria Capital share price snapshot

Over the past 12 months Centuria Capital’s shares are down 3%. By comparison the ASX 200 is up 14% in that same time.

Year-to-date the Centuria Capital share price is down 10%.

More reading

• Centuria (ASX:CNI) share price down after $162 million in equity raising in 8 weeks
• Here’s what’s likely to supercharge ASX logistics demand in 2021: fundie

Motley Fool contributor Bernd Struben 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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An update from Hansen Technologies Limited (ASX: HSN) has propelled the company’s share price to a 52-week high today. At the time of writing, the billing software provider’s shares are trading 17.2% higher to $4.91. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has swung into the negative, down 0.1%.

New contract, who this?

After the market closed yesterday, Hansen Technologies snuck in an announcement that contained uplifting information for shareholders.

As previously reported this morning, the company signed a significant agreement with German-based Telefonica. The agreement entails Telefonica using Hansen’s Cloud Native Communications product suite.

Furthermore, the important details of the agreement are the 5-year fixed term, amounting to expected revenue of $25 million for Hansen.

Factoring in the additional revenue, Hansen updated and upgraded its guidance for the FY21 full year.

Hansen share price having a blast

Since 2016, the Hansen share price has been trending downwards. Investors seemed to have fallen out of love with the company’s technology, as earnings appeared to stagnate.

With the sudden influx of all the new fandangled instalment payment systems gaining more interest, the simple billing system had been forgotten.

Yet, today’s large contract win has rejuvenated Hansen’s share price, with it now the highest it has been in roughly 4 years. 

Hansen’s market capitalisation now stands at $834 million, making the billing system provider a small-cap stock.

More reading

• Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher
• Why the Hansen (ASX:HSN) share price will be on watch today
• Hansen Technologies (ASX:HSN) share price rises on profit surge

Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hansen Technologies. The Motley Fool Australia has recommended Hansen Technologies. 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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