Why the Universal Biosensors (ASX:UBI) share price is up 6% today

The Universal Biosensors (ASX: UBI) share price is climbing today, with news of an agreement for its wine testing device to be distributed in Chile.
The post Why the Universal Biosensors (ASX:UBI) share price is up 6% today appeared first on The Motley Fool Australia. –

wine share price rising represented by two people raising wine glasses

The Universal Biosensors, Inc (ASX: UBI) share price is rising today, after good news from the company. It has entered into a distribution agreement with Chilean quality diagnostics, control and research company Singularity SpA.

The agreement will see Universal Biosensors’ wine testing platform device distributed in Chile for the first time.

Today’s news may herald another big day for the Universal Biosensors share price. It launched 9.6% higher yesterday following news the company made deals with Deakin University and the Swinburne University of Technology.

At the time of writing, the Universal Biosensors share price is 73 cents, up 6.6% from yesterday’s closing price.

Let’s look closer at today’s release from the company.

Cheers for Chilean wine testing

The distribution agreement with Singularity for Universal Biosensors’ wine testing platform device, Sentia, is for a 3-year term.

It will make Sentia available in Chile, the world’s 8th largest wine-producing country.

The Sentia analyzer is a handheld device that can measure the free sulphur dioxide in post-fermentation red and white wine in under a minute.

Universal Biosensors is working towards making more wine analysis tests available on the device.

Commentary from management

Universal Biosensors CEO John Sharman welcomed the agreement, saying:

The launch of Sentia into Chile is another positive step in the commercialisation of Sentia globally. Chile is the 8th largest wine producing country in the world and Singularity is part of a leading group with diverse expertise in point-of-use devices with connections across Chile’s 200,000 hectares of vineyards.

The deal includes an initial commitment to purchase Sentia devices and strips which will be delivered over the course of the next few weeks.

Mr Sharman said the possibility of Sentia’s future testing capability for glucose, fructose, malic acid and others would “add significant value” to the winemaking industry.

We are negotiating terms with a number of key industry players around the world and look forward to reporting additional distribution partnerships in due course.

Universal Biosensors share price snapshot

The Universal Biosensors share price has performed well on the ASX lately, with today’s news bringing the latest boost.

It is currently up 51% year to date and has increased by a mammoth 294% over the past 12 months.

Universal Biosensors has a market capitalisation of around $120 million, with approximately 177 million shares outstanding.  

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

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.

The post Why the Universal Biosensors (ASX:UBI) share price is up 6% today appeared first on The Motley Fool Australia.

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!