Why the Hazer (ASX:HZR) share price is slipping on Friday

Let’s dive in and take a look.
The post Why the Hazer (ASX:HZR) share price is slipping on Friday appeared first on The Motley Fool Australia. –

The Hazer Group Ltd (ASX: HZR) share price has slipped in early trade.

Shares in the hydrogen and graphite company have tumbled recently following a capital raise.

Let’s take a closer look at the Hazer share price.

What’s been dragging the Hazer share price?

Shares in Hazer have been weighed down by the company’s $7 million capital raising.

Earlier today, the company released documentation inviting eligible shareholders to participate in the Share Purchase Plan (SPP).

Eligible retail shareholders will be able to subscribe for up to A$30,000 worth of fully paid ordinary shares.

These new shares in Hazer will be available at a subscription price of A$0.92 per share.

The SPP will open on 17 September and close on 15 October and be capped at a maximum of $7 million.

Hazer announced early this week that it had completed its placement with institutional and sophisticated investors, with 7.6 million new ordinary shares to be issued.

According to the company, funds raised from both capital raises will be used to expand business development activities for the Hazer Commercial Demonstration Project (CDP).

Furthermore, Hazer also plans on funding continued research and development programs to enhance its graphite advanced carbon material.

More on Hazer

Hazer is a technology development company that is focused on commercialising a low-emission hydrogen and graphite production process.

The Hazer Process enables the effective conversion of natural gas and similar methane feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.

The company recently provided an update on its CDP being constructed at Water Corporation’s Woodman Point Water Recovery Facility.

Hazer advised shareholders that COVID-19 restrictions have caused some delays with the fabrication.

As a result, the project is now estimated to be in commission in the first quarter of FY22. Hazer had previously targeted December 2021 as the commission date.

Snapshot of the Hazer share price

Despite slipping in the past week, shares in Hazer have performed strongly for the year.

Since the start of 2021, the Hazer share price is trading more than 17% higher.

At the time of writing, shares in the mineral technology company are trading more than 2% lower for the day at around 94 cents.

The post Why the Hazer (ASX:HZR) share price is slipping on Friday appeared first on The Motley Fool Australia.

Should you invest $1,000 in Hazer right now?

Before you consider Hazer, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Hazer wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Hazer (ASX:HZR) share price slides 11% following capital raise update
A closer look at how ASX hydrogen shares are faring in 2021?

Why is the Hazer (ASX:HZR) share price frozen?
Hazer Group (ASX:HZR) share price sinks 6% as after-tax loss widens in FY21

Motley Fool contributor Nikhil Gangaram 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.

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!