Insights

Zoono (ASX:ZNO) share price rockets 26% on quarterly update

Investors were excited about Zoono shares today after seeing the company’s quarterly report…
The post Zoono (ASX:ZNO) share price rockets 26% on quarterly update appeared first on The Motley Fool Australia. –

The Zoono Group Ltd (ASX: ZNO) share price took flight in trading today. This came after the company released its quarterly activities report.

At the end of Thursday’s session, shares in the antimicrobial solutions company were 26.55% above their previous close, hitting 50 cents. However, Zoono reached an intraday high of 56.5 cents apiece earlier in the afternoon.

Let’s take a look at what had investors excited today.

Improving margins and continued expansion

Investors were bidding the Zoono share price higher with ferocity on Thursday. More than 2.5 million shares were traded, which is above average for the sanitiser company.

According to the release, Zoono achieved NZ$7.5 million in invoiced sales during the first quarter. However, this consisted of NZ$4.7 million of delivered sales, with the other NZ$2.8 million yet to be shipped.

Despite the company’s sales falling from its COVID-19 peaks, it continues to push the expansion of its markets and customers.

Importantly, Zoono is focusing on regions where it is uneconomical for other foreign companies to compete. This has assisted in lifting the company’s gross profit margin from 59% to 71%, which can only be a positive for the Zoono share price.

Additionally, it is aiming to obtain a direct presence in all major European Union markets in the next 6 to 9 months. Furthermore, following a successful trial with Keolis Group in France, Zoono’s products will be used across 27 districts where transport systems operate. On top of this, several additional major new customers in France are expected to be signed this quarter.

Positively, Zoono suggested it is unlikely there will be a need to raise capital in the foreseeable future. At the end of the quarter, the company held NZ$10.1 million in cash equivalents.

Zoono share price snapshot

Taking a look at the 1-year chart, we can see the Zoono share price has been in decline since July 2020. The company received a massive boost to its valuation amid the need for additional sanitisation due to COVID-19.

However, sales have dwindled in sync with the increase in vaccinations around the world. In turn, the Zoono share price is down 67% over the past year.

Finally, the company trades on a price-to-earnings (P/E) ratio of 15.4 times based on its 12-month trailing earnings.

The post Zoono (ASX:ZNO) share price rockets 26% on quarterly update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Zoono Group right now?

Before you consider Zoono Group, 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 Zoono Group 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

WiseTech (ASX:WTC) share price surges 8% on Thursday
IGO (ASX:IGO) share price lifts after exploration update
Why ASX lithium shares are booming on Thursday

Why did the Woodside (ASX:WPL) share price slide today?
Why ASX 200 tech shares have outperformed today

Motley Fool contributor Mitchell Lawler 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!