Why Althea, Audinate, Perenti, & Viva Energy shares are pushing higher

These ASX shares are ending the week strongly…
The post Why Althea, Audinate, Perenti, & Viva Energy shares are pushing higher appeared first on The Motley Fool Australia. –

In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 1.5% to 7,228.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Althea Group Holdings Ltd (ASX: AGH)

The Althea share price is up 3% to 36 cents. Investors have been buying the cannabis company’s shares after it signed a manufacturing agreement with Delshen Therapeutics Corp. It is a wholly owned subsidiary of 48North Cannabis Corp, which is a Canadian cannabis licensed operator and brand marketer. According to the release, Althea’s Peak Processing Solutions business will manufacture four products for 48North’s Latitude brand with minimum order quantities of C$1.25 million.

Audinate Group Ltd (ASX: AD8)

The Audinate share price has jumped 6.5% to $9.19. This follows the release of a full year update by the audio over IP networking solution provider. That update reveals that Audinate achieved revenue of US$25 million in FY 2021. This was an increase of 23% from the US$20.4 million it achieved a year earlier. Audinate’s solid growth was driven partly by an extremely strong fourth quarter performance. During the three months ended 30 June, the company’s revenue increased 74% over the prior corresponding period.

Perenti Global Ltd (ASX: PRN)

The Perenti share price is up almost 3% to 75.5 cents. The catalyst for this was an announcement that the engineering company’s Barminco business has finalised a contract with Panoramic Resources Limited (ASX: PAN). The contract is for development and production works at the Savannah Nickel Project in the Kimberley region of Western Australia. The finalised contract represents a value of approximately $280 million over a four-year term.

Viva Energy Group Ltd (ASX: VEA)

The Viva Energy share price is up over 4% to $2.05. Investors have been buying the energy company’s shares following the release of a first half update. According to the release, Viva Energy had a very strong first half thanks to sales growth from its non-aviation businesses. It expects first half operating earnings of $390 million to $410 million. This will be an increase of 34% over the pre-pandemic levels of FY 2019.

The post Why Althea, Audinate, Perenti, & Viva Energy shares are pushing higher appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Why the Viva (ASX:VEA) share price is 5% higher
ASX 200 midday update: Afterpay & CBA sink, Viva Energy jumps

Why the Althea (ASX:AGH) share price is charging higher today
Audinate (ASX:AD8) share price jumps 6% on FY 2021 update
Why Alkane, Audinate, Megaport, & Zip shares are rising today

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 AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!