Why Althea, BWX, Damstra, & GrainCorp shares are charging higher

Althea Group Holdings Ltd (ASX:AGH) and BWX Ltd (ASX:BWX) shares are two of four charging higher on Monday. Here’s why…
The post Why Althea, BWX, Damstra, & GrainCorp shares are charging higher appeared first on Motley Fool Australia. –

shares high

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is still suspended due to a market data issue. However, prior to that, the market was up a sizeable 1.2% to 6,484.3 points.

Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Althea Group Holdings Ltd (ASX: AGH)

The Althea share price has jumped 10% to 48 cents after the cannabis company announced a licencing agreement with Canadian-based, Earth Kisses Sky. According to the release, the contract will involve the manufacture of two topical products, with an order of 150,000 units split evenly between the two. In addition to this, the company has signed an agreement with Canadian cannabis beverage company, Electric Brands.


The BWX share price is up almost 4% to $4.20. Investors have been buying the personal care products company’s shares after it announced a strategic partnership with British ecommerce company THG Holdings. According to the release, THG will provide a full-service solution, including localised digital capabilities for taking BWX brands direct to consumers across Europe and Asia.

Damstra Holdings Ltd (ASX: DTC)

The Damstra share price has risen 4% to $1.78 following the release of its annual general meeting presentation. At the event, management reaffirmed its guidance for FY 2021 and continues to expect revenue of $33 million to $35 million. This represents year on year growth of 60% to 70%. In respect to earnings, the company is forecasting earnings before interest, tax, depreciation and amortisation (EBITDA) of $5 million to $7 million.

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price is up 3% to $4.44. Investors have been buying the company’s shares after analysts at Goldman Sachs upgraded them. The broker has upgraded GrainCorp’s shares to a buy rating with a $5.34 price target. Goldman commented: “We view GNC as providing an attractive combination of near-term cyclical tailwinds and long-term structural benefits.”

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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 Damstra Holdings Ltd. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended Damstra Holdings Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Althea, BWX, Damstra, & GrainCorp shares are charging higher appeared first on Motley Fool Australia.

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