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The NRW Holdings Limited (ASX: NWH) share price flew higher today after the company released two major announcements to the ASX market.

In early afternoon trade, the diversified service provider’s shares reached an intraday high of $3.02. The NRW share price has since retreated, closing at $2.86, up 3.25% at the end of trade.

Upgrade road works

In today’s release, NRW advised that its H2H joint venture has been selected as a preferred proponent for the Mitchell Freeway Southbound Upgrade. NRW is a 50% partner in the joint venture.

Located in Perth, the Mitchell Freeway Southbound Upgrade will provide motorists a safer and more efficient road system. The project will be used to support population growth and promote development across the northern suburbs.

Under the agreement, the joint venture will provide services such as lane widening, installation of ramp signals, safety barriers, lighting, drainage, and other upgrades.

NRW revealed that its H2H joint venture has entered into negotiations with Main Roads Western Australia. It’s expected discussions will be completed within the coming weeks.

The project is valued at $140 million, with the H2H joint venture comprising of $90 million. The infrastructure works program is anticipated to be completed within a 2-year time frame.

NRW CEO and managing director Jules Pemberton welcomed the contract award, saying:

I am delighted that the H2H Joint Venture has been named as the preferred proponent for the Mitchell Freeway Southbound Upgrade – Hodges Drive to Hepburn Avenue project.

Being named as preferred proponent further underlines the importance of the BGC Contracting acquisition completed in late 2019 which positioned the business to address the fast-growing infrastructure sector particularly in Western Australia.

Mining contract

In the second release today, NRW advised it has been awarded a mining contract from Nathan River Resources.

The agreement will see NRW deliver stage 1 operations at the Rope Bar Iron Ore Project. This will include services such as drill and blast, load and haul, clearing and grubbing, soil removal and rehandling of ore stockpiles.

The deal is worth around $123 depending on the number of works completed. The duration of the contract will run for a total of 33 months.

The Roper Bar Iron Ore Project, located in the gulf region of the Northern Territory, exported its first iron ore shipment in November. The site is expected to produce around 1.5 million tonnes of ore within the first year of operation. Eventually, this will increase to 3 million tonnes by the third year.

Mr Pemberton had this to say about the deal:

NRW is pleased to be involved in the recommencement of the Nathan River Minesite and looks forward to its successful execution.

About the NRW share price

The NRW share price has been on an upwards trajectory for the past 10 months after crashing to a multi-year low of $1.00 in March last year. 

Based on the current share price, NRW has a market capitalisation of roughly $1.2 billion.

More reading

• 7 ASX shares to buy for 2021

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 Calix Ltd (ASX: CXL) share price closed just over 15% higher today, finishing off the week at $1.57 per share after the company released an announcement on its carbon capture project earlier today.

Calix is dedicated to developing patented technology that can address global sustainability challenges by providing industrial solutions. The company is active on four continents.

Calix’s technology is currently being used to develop environmentally friendly solutions for areas such as crop protection, wastewater and carbon reduction.

Let’s take a look at today’s announcement to see what’s happening at Calix.

European approval

Calix leads the Low Emissions Intensity Lime & Cement (LEILAC) project. The objective of the project is to dramatically reduce Europe’s CO2 emissions without using too much energy or spending too much money.

To achieve this, Calix teamed up with industrial heavyweights including HeidelbergCement, Cemex, Lhoist and Tarmac during the LEILAC-1 Project.

Today’s announcement revealed that, following the success of the LEILAC-1 project, the European Commission has now officially approved Cemex to join the LEILAC-2 project.

The LEILAC-2 Project is focused on using the HeidelbergCement’s Hannover cement plant to further progress Calix’s CO2 mitigation technology. This follows the successful piloting of the technology in Belgium via the LEILAC-1 Project.

The LEILAC-2 Project is currently undergoing basis-of-design work, which is scheduled for completion by the end of June 2021. If successfully met, this work will be followed by full front-end engineering design.

Some words from Cemex

Commenting on joining forces with Calix once again for the LEILAC-2 project, Global R&D Head of Cemex Davide Zampini said:

We are very enthusiastic about our continued participation in the LEILAC-2 project. Amongst the different technologies that we are pursuing, it is one of the most promising technologies to mitigate CO2 emissions in clinker production. We look forward to supporting Calix and the LEILAC team and contribute to key developments in the pilot project. Above all, key members of the industry are collaborating to accelerate the possibility of adopting the technology.

The Calix share price rocketed on today’s news and now sits up 93.83% on this time last year. 

More reading

• Brace for an IPO resurgence as new floats beat the ASX 200 by ~50%
• 2 ASX growth shares to buy
• Zoono (ASX:ZNO) share price tanks 17% on quarterly report
• GameStop frenzy: 3 shorted ASX shares that could shoot up
• What’s happening with the Freedom Foods (ASX:FNP) share price?

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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New ASX stocks are beating the old in 2020 and some experts are predicting that this will trigger an IPO revival this year.

Initial public offering (IPO) platform OnMarket found that year-end IPOs outperformed the  S&P/ASX 200 Index (Index:^AXJO) by more than 48%, reported the Australian Financial Review.

The average return for all newly minted ASX stocks in 2020 was 46.9% compared with the 1.5% drop in the top 200 stock benchmark.

Best ASX IPOs of 2020

The Nuix Ltd (ASX: NXL) share price, 4DMedical Ltd (ASX: 4DX) share price and Aroa Biosurgery Ltd (ASX: ARX) share price are some examples of stocks that surged on the first day of trade.

The IPOs that delivered the best returns last year are the Tesoro Resources Ltd (ASX: TSO) share price, Cosol Ltd (ASX: COS) share price and 4DX share price.

The TSO share price surged over 800% in the period, while the COS share price and 4DX share price gained over 200% each.

Capital raisings crowded out IPOs in 2020

Nearly 70% of the newbies listed in the fourth quarter as capital raisings by established ASX stocks sucked all the oxygen in the earlier part of the year.

The turmoil caused by COVID-19 prompted many ASX companies to go cap in hand to shareholders to shore up their balance sheets.

If investors can buy discounted shares in a capital raising from established stocks, they would typically shun new unproven companies.

Number of new ASX listings expected to rebound

So, while OnMarket claimed that the December quarter proved to be the best quarter for ASX floats in at least five years, the number of IPOs in 2020 are still lower than most years.

But OnMarket managing director Nick Motteram told the AFR that the momentum in the closing months of 2020 is expected to continue into this year.

“It’ll continue to be strong until there’s an event where market confidence goes out the window or there are some big ones that don’t do well,” The AFR quoted Motteram as saying.

“The difficulty with any IPO is picking a winner and what’s come out of this report is that getting access to as many as possible, putting in a consistent amount and holding for a consistent period is a winning strategy.”

ASX gold stocks to lead IPO recovery

While tech is a hot space and could very well continue to be in demand by IPO investors, the sector that could dominate new ASX listings are gold explorers and miners.

Professional services group HLB Mann Judd was also quoted in the report as saying that it expected gold IPOs to feature heavily.

This is despite the recent pullback in the gold price from record highs of over US$2,000 an ounce. Given that economic uncertainty is likely to remain a big feature in 2021, you can’t write-off the safe haven asset just yet.

More reading

• The latest ASX stocks to be hit by broker downgrades
• ASX 200 up 0.6%: ResMed Q2 update, Kogan sinks, NAB acquires 86 400
• Why the Novonix (ASX:NVX) share price is down 10% today
• The BlueScope (ASX:BSL) share price surges on a profit upgrade today
• Here’s why the Origin Energy (ASX:ORG) share price is climbing today

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. Connect with me on Twitter @brenlau.

The Motley Fool Australia has recommended Nuix Pty 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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Are you a fan of growth shares? If you are, you may want to take a look at the two listed below.

Here’s what you need to know about them:

Altium Limited (ASX: ALU)

The first growth share to look at is Altium. It is an electronic design software provider which has been growing strongly over the last few years. And while the pandemic is stifling its performance this year, management remains confident that it still has a long runway for growth.

This is thanks to its exposure to the growing Internet of Things and Artificial Intelligence markets, which are underpinning solid demand for subscriptions. So much so, Altium is aiming to almost double its subscriber numbers to 100,000 and its revenue by ~150% to US$500 million by 2025/26.

Analysts at Credit Suisse remain positive on its outlook despite its current headwinds. They have recently put an outperform rating and $35.00 price target on its shares.

Megaport Ltd (ASX: MP1)

Megaport is a provider of elastic interconnection services across data centres globally. Its clever service allows its users to increase and decrease their available bandwidth in response to their own demand requirements.

This is proving to be a popular alternative to fixed service levels on long-term and expensive contracts. So much so, Megaport has been growing its monthly recurring revenue (MRR) at a strong rate over the last few years.

This has continued in FY 2021, with Megaport recording a 10% increase in second quarter growth underlying MRR to $6.3 million.

Analysts at Goldman Sachs were pleased with its update and have just upgraded its shares to a buy rating with a $15.00 price target. Goldman believes Megaport will benefit from growing demand for public cloud infrastructure and the broadening of its product suite. Its analysts also have increased confidence on its path to generating positive free cash flow.

More reading

• The Megaport (ASX:MP1) share price is down 25% since August
• These ASX 200 shares have been smashed in 2021
• 2 ASX 200 growth shares to buy
• 3 extraordinary ASX shares to buy right now
• Why Aussie Broadband, Fisher & Paykel Healthcare, Lynas, & Megaport are charging higher

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 recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. 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 Zoono Group Ltd (ASX:ZNO) share price has tanked more than 17% today after the company released its report for the second quarter of FY21. The fall brings the Zoono share price below the $1.0 mark.

How has Zoono performed?

Zoono’s quarterly report highlighted continued sales momentum. For the second quarter ending 31 December 2020, the biotech company reported invoiced sales of NZ$14.1 million.

Unaudited inventories of NZ$14.4 million continue to meet current demand. The company noted that stock was being held in several global locations in order to enable timely delivery.

In addition, the company reported a bank balance of NZ$9.1 million, which included NZ$1.8 million in positive net receivables/payables. For the six months to date, Zoono also reported total cash receipts from customers of NZ$20.5 million.

The company also highlighted the launch of its triple layer, re-usable face mask in Australia and New Zealand during the quarter.

What does Zoono do?

Zoono is a biotechnology company that develops, manufactures and distributes various antimicrobial solutions. The company’s products are based on the ‘zoono molecule’ which is a unique antimicrobial molecule used to combat a variety of pathogens.

Various regulatory agencies have already approved Zoono’s products for distribution. In a recent update, Zoono announced that the company had entered into a supply agreement in the United Arab Emirates.

What is Zoono focussing on?

In providing the market with an overview of its operations around the world, Zoono noted that the company continues to aggressively pursue new businesses globally. As a result, the company is confident on delivering an improved year-end revenue result for FY21.

The company highlighted that the B2B markets in the UK/EU, China, the Middle East and Africa will be the main focus moving forward given their large volume requirements. In addition, Zoono acknowledged the importance of its home markets in Australia and New Zealand.

Zoono also highlighted animal health as being a significant segment that the company will continue to pursue.

About the Zoono share price

The Zoono share price opened today’s trading session at $1.18 and then headed south in early afternoon trade. At the time of writing, shares in Zoono are trading 17.2% lower at 98 cents.

More reading

• Here’s why the Calix (ASX:CXL) share price shot 15% higher today
• Brace for an IPO resurgence as new floats beat the ASX 200 by ~50%
• 2 ASX growth shares to buy
• GameStop frenzy: 3 shorted ASX shares that could shoot up
• What’s happening with the Freedom Foods (ASX:FNP) share price?

Motley Fool contributor Nikhil Gangaram 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 GameStop Corp (NYSE: GME) share market chaos seen in the US could spill over to the ASX in a serious way, according to one investor behaviour academic.

Finance headlines this week have been dominated by the phenomenal rise in the price of GameStop stocks. The surge was triggered with a coordinated buying effort from activist retail investors to send institutional short sellers broke.

The electronic games retailer started the year at US$17.25 but shot up to as high as US$483 before moderating last night Australian time. It’s still sitting at US$193.60.

There is much debate in the United States as to whether this is legitimate activism against Wall Street shorting, immoral market manipulation, amateurs playing with fire, or all of the above.

Discussions about the short squeeze were reportedly had on Reddit then much of it was executed on popular trading app Robinhood, which provides $0 brokerage trading.

GameStop implications for Australia and ASX

The most direct impact of the GameStop frenzy has been on the share price of GME Resources Limited (ASX: GME).

Sharing the same ticker code as the US retailer has meant it was the accidental beneficiary of some confused investors. The mining company was forced to put its stocks in a trading halt on Friday after it shot up 53% in less than 48 hours.

But aside from hilarious ticker confusion, RMIT University senior lecturer Angel Zhong reckons there could be serious downstream impacts in Australia.

Similar to Robinhood, low-cost gamified trading platforms like Superhero and eToro are now available for local investors.

“Copy trading is offered by some of the platforms, which is a form of social trading, and similar to the way Reddit traders have bought up GameStop this time,” she said.

“In Australia, ASIC is concerned about social trading and has warned retail investors to be cautious about copy trading offered by low-cost trading platforms.”

Social and copy trading could prompt a short squeeze attack in Australia similar to what’s happened in America this week, warned Zhong.

“The GameStop Saga has also alarmed the short-sellers in Australia who may face a battle from retail investors,” she said. 

“There could be a price surge in the most-shorted Australian stocks such as Webjet Limited (ASX: WEB), A2 Milk Company Ltd (ASX: A2M), and Flight Centre Travel Group Ltd (ASX: FLT).”

How did it come to this?

Zhong said that the fact that this is even possible points to the rise of a uniquely modern phenomenon in the investment world.

“It… reflects the power of social trading, which refers to unmoderated investment advice provided via social platforms — such as the Reddit army in this case, investment channels on YouTube, share trading groups on Facebook, and influencers offering financial advice via TikTok.”

“What are the hottest stocks among social traders in Australia as seen on Reddit and HotCopper? The buy now, pay later stocks are definitely among the hottest and the large surge in their price is partly related to retail trading.”

ASIC scrutiny has somewhat scared off the local version of the US Reddit group that prompted the GameStop surge.

A moderator on r/ASX_Bets posted the following message on Thursday, according to the Australian Financial Review:

“As I’m sure you’re all aware, there has been some minor business going on in the big daddy sub r/wallstreetbets… They were clearly incensed by a hedge fund… then it escalated. Then it escalated again. Now it’s something else entirely,” the admin wrote.

“A lot of people have decided to make posts here indicating they want to arrange a short squeeze … any post or comment attempting to co-ordinate or organize any type of ‘market play’ via the sub will be deleted and the user subject to a three-month ban.”

More reading

• GameStop (NYSE:GME) stock insanity: Here are 4 things you need to know
• The Reddit-GameStop-Robinhood saga is heating up
• 53% share price jump lands GME Resources (ASX: GME) in trading halt
• What Is a Gamma Squeeze?
• Short squeezes: Everything you need to know about the recent investing movement

Motley Fool contributor Tony Yoo owns shares of A2 Milk and Webjet Ltd. The Motley Fool Australia owns shares of and has recommended A2 Milk and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Freedom Foods Group Ltd (ASX: FNP) share price has been suspended for over seven months but could soon be returning to the ASX boards.

This morning the embattled food company released an update on its recapitalisation.

What did Freedom Foods announce?

According to the release, Freedom Foods has reached an in-principle agreement with its majority shareholder, Arrovest, for a recapitalisation of the business. This will involve the issue of secured convertible notes.

Arrovest, which is owned by the Perich family, has stepped in after advanced talks between another new investor collapsed.

In addition to this, the company advised that the in-principle agreement with Arrovest has the non-binding indicative, in-principle support of the company’s senior lenders, National Australia Bank Ltd (ASX: NAB) and HSBC.

Management notes that the funding from the recapitalisation will enable the company to materially repay its senior term and revolving secured debt. It will also provide Freedom Foods with sufficient working capital and a stable capital structure to enable it to continue its financial and operational turnaround.

Under the terms of the new in-principle agreement, Arrovest has agreed to invest up to $200 million, with the company having the capacity to raise further capital. Though, it will not be a condition for it to do so for the transaction to complete.

Interim Chief Executive Officer Michael Perich said: “Despite the challenges of the past 10 months, there remains a fundamentally strong business at the heart of Freedom Foods – a market-leading dairy and plantbased beverages and nutritionals business. With the ongoing support of Arrovest, our banks and other shareholders, we have the opportunity to rebuild the business and enable it to meet its full potential.”

Tony Perich AM said: “We have been committed supporters of Freedom Foods for 15 years and, despite the difficulties of the past year, we continue to believe in its potential to be one of Australia’s great food and beverages companies.”

Freedom Foods’ shares will remain in voluntary suspension pending further details of the recapitalisation.

More reading

• What’s with the Vulcan (ASX:VUL) share price today?
• Renergen (ASX:RLT) share price explodes 71% today
• Brokers name 3 ASX shares to buy right now
• Chamath Palihapitiya defends WallStreetBets GameStop short squeeze
• European Lithium (ASX:EUR) share price drops despite positive update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freedom Foods Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Vulcan Energy Resources Ltd (ASX: VUL) share price is falling in afternoon trading, down 3.78% to $7.89 despite a flying start out of the blocks this morning.

The ASX miner announced its quarterly activities and cash flow report for the period ending 31 December 2020 to the ASX market today. Let’s take a closer look.

What is in the report?

In today’s release, Vulcan advised that its first zero carbon lithium pre-feasibility study demonstrated strong potential. The combined renewable energy and lithium hydroxide project, in the centre of Europe, has a positive net present value of €2.25 billion (AUD$3.56 billion). As such it is projected to be one of the cheapest lithium producers globally.

Vulcan also announced upgrades to a number of its resource estimations during the quarter. The company upgraded its estimation at its Taro site from 0.83 Mega tonnes (Mt) of lithium carbonate to 1.44 Mt.

More spectacularly, the company updated its resource estimation at its Ortenau resource in North Germany from 2.06 Mt to 15.85 Mt. This places it as the largest lithium resource in Europe. The project has since been integrated into the zero carbon lithium project mentioned above.

What’s more, Vulcan claims proposed new regulations by the EU on carbon footprint rules and responsibly sourced materials may be poised to help the company.

About the Vulcan share price

The Vulcan share price has gained an astounding 4,344% in the last year alone. It shares tore up the charts last week on the back of its announcement on plans to become the world’s first zero carbon lithium producer. 

To do this, Vulcan will use its unique lithium process to produce both renewable geothermal energy, and lithium hydroxide, from the same source. In doing so, the company aims to address EU market requirements by reducing the high carbon and water footprint of production. At the same time it creates a wider global marketplace for lithium with less reliance on imports from China.

The small cap ASX miner was among was among the most traded shares on the ASX last week as a result. The Vulcan share price is currently trading 1.95% higher.

More reading

• The Piedmont Lithium (ASX:PLL) share price just rocketed 32% to a record high
• Zip and Vulcan were among the most traded ASX shares last week
• Why Booktopia, Nitro, Reliance, & Vulcan shares are charging higher
• Why the Vulcan (ASX:VUL) share price is storming 12% higher today
• 5 lithium shares that are fast-charging up in 2021

Motley Fool contributor Daniel Ewing 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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Renergen CDI (ASX: RLT) shares are on fire today. At the time of writing, the Renergen share price is trading at $2.62, up by 71%.

Renergen is an alternative and renewable energy business concentrating on helium and LNG. The company invests in early stage projects across Africa and emerging markets.

The company’s key focus, the Virginia Gas Project, is located in Free State, South Africa and contains one of the richest helium concentrations recorded in the world.

Let’s take a look at what the company has been up to recently and try to piece together the path that led to the Renergen share price soaring today.

Phase 2 of the Virginia Gas Project

This is the second time in the past two days that the Renergen share price has blasted off. On Wednesday, we were talking about Renergen shooting 24% higher following an announcement pertaining to phase 2 of the Virginia Gas Project.

The announcement revealed Renergen had contracted three companies to support the engineering studies of the project.

Saipem SpA is now responsible for the front-end engineering design (FEED) contract to develop the liquid natural gas and liquid helium processing facilities. EPCM Holdings will develop the phase 2 gas gathering pipeline, and Sproule will evaluate and certify the reserves.

The appointment of these three contracts will finalise the feasibility studies for the phase 2 development of the Virginia Gas Project.

With no new announcement today and the three new contract appointments having only come to light two days back, it looks like investors are still processing the news.

As mentioned in Renergen’s latest announcement, under the guidance of the three appointed companies Renergen expects the Virginia Gas Project feasibility studies to be completed “on or around” the second quarter or 2021.

After this is complete, the Renergen board will present its final investment decision.

What has the Renergen share price done over the past 12 months?

The Renergen share price has a 52-week range of 84 cents to $2.90, a touch away from where it’s trading today

Similar to many other companies, Renergen took a hit from the coronavirus and operations came to a dramatic halt, which sent the share price for a nose dive.

From 3 March to 24 March 2020, Renergen shares tumbled 88.5%, falling from $1.64 to 87 cents.

All in all, the Renergen share price has climbed around 140% over the previous 12-month period.

More reading

• The Renergen (ASX:RLT) share price is soaring 24% higher today. Here’s why

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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Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Booktopia Group Ltd (ASX: BKG)

According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this online book retailer’s shares to $3.48. This follows the release of a first half trading update earlier this week. Morgans was pleased with Booktopia’s update and notes that it delivered very strong growth during the half. It also feels that management’s guidance is conservative and the company can outperform it. Looking ahead, Morgans believes the company is well-placed for growth thanks to market share gains and the growing online book market. The Booktopia share price is trading at $2.86.

ELMO Software Ltd (ASX: ELO)

Analysts at Morgan Stanley have retained their overweight rating and $9.70 price target on this cloud-based HR and payroll company’s shares following its second quarter update. ELMO delivered a result in line with the broker’s expectations and notes that management has reaffirmed its guidance for FY 2021. It appears confident the company will achieve its guidance and remains positive on the investment opportunity. The ELMO share price is trading at $6.79 today.

TechnologyOne Ltd (ASX: TNE)

A note out of UBS reveals that its analysts have upgraded this enterprise software company’s shares to a buy rating with an improved price target of $9.15. According to the note, the broker believes recent weakness in the TechnologyOne share price is a buying opportunity for investors. Especially given the potential for a quicker than expected conversion of its revenues to software-as-a-service revenue. Overall, it believes its shares offer a lot of value in comparison to its tech peers. The TechnologyOne share price is trading at $8.68 this afternoon.

More reading

• Here’s why the ELMO (ASX:ELO) share price is sinking lower today
• ASX 200 falls 0.6%
• 2 exciting mid cap ASX shares to buy and hold
• Why Booktopia, Nitro, Reliance, & Vulcan shares are charging higher
• Why the Booktopia (ASX:BKG) share price is rocketing 15% to a record high

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Elmo Software. The Motley Fool Australia owns shares of and has recommended Elmo Software. 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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