A Glimpse at ASX AgTech Stocks – ROO, IGI, ABT

  • Apr 22, 2019 AEST
  • Team Kalkine
A Glimpse at ASX AgTech Stocks – ROO, IGI, ABT

With the aim of providing the best possible and innovative agricultural solutions, many AgTech companies are catching eyeballs everywhere. Some of the known companies in this sector are Roots Sustainable Agricultural Technologies Ltd (ASX: ROO), Roto-Gro International Limited (ASX: RGI) and Abundant Produce Limited (ASX: ABT). Additionally, the growing demand for natural health care products is helping these companies in expanding their portfolios. Let’s look at the recent developments, which may influence its stock prices in the coming months.

Roots Sustainable Agricultural Technologies Ltd (ASX: ROO)

Roots Sustainable Agricultural Technologies Ltd (ASX: ROO) has been involved in the sale of root zone heating and cooling systems to greenhouse farmers and the development of irrigation systems with combined fertilisation and heating/cooling root zone management. The company is commercialising and developing cutting-edge, modular and disruptive technologies to address critical agriculture problems.

The company recently announced the new issuance of 900,000 Convertible Notes (interest-free) at face value of $1.00 per note. Each note was subscribed at 90% of face value with maturity up to three months after issue. In another update, the company received second RZTO cannabis sale in North America, which is valued at A$42,300 or US$30,000.

On the stock information front, at market close on April 18, 2019, the stock of Roots was trading at $0.076, down 5% with a market capitalisation of ~$5.42 million. Today, it touched day’s high at $0.078 and day’s low at $0.076, with a daily volume of 109,077. Its 52 weeks high was at $0.465 and 52 weeks low at $0.07, with an average volume of 191,229. Its absolute return for one year, six months and three months are -78.95%, -70.91%, and -30.43%, respectively.

Roto-Gro International Limited (ASX: RGI)

Roto-Gro International Limited (ASX: RGI) has its main focus on the production and sale of automated rotary hydroponic advanced garden systems (Roto-Gro Systems). The group has entered into a partnership (JV) with Gibio Inc. and Freshero Pty Ltd in the perishable food segment. The company recently secured $0.6 million order from Frozen Penguin Medical Industries Inc. Under the agreement, the company will provide Frozen Penguin with onsite assembly, testing, installation, training, certification, and growing management support.

In its H1 FY19 results, RGI reported a decrease in revenue by 72% pcp to $119,918. The company’s loss from ordinary activities after tax attributable to the owners of Roto-Gro International Ltd stood at $2,131,667, an increase of 142%. This was majorly due to an increase in R&D expenses, employee benefits, consulting expense and corporate and administration expenses.

On the stock information front, at market close on April 18, 2019, the stock of Roto-Gro was trading at $0.24, with a market capitalisation of $27.17 million. Its 52 weeks high was at $0.555. Its absolute return for one year, six months, and three months are -46.67%, -45.45%, and -31.43%, respectively.

Abundant Produce Limited (ASX: ABT)

Abundant Produce Limited (ASX: ABT) focuses on the development and commercialisation of new varieties of high-value food crops that can be grown under non-ideal conditions, especially greenhouse vegetables, such as cucumbers and tomatoes. It is also involved in the development of a range of nutraceutical skin care products based on scientifically validated active botanical extracts.

The company recently announced its distribution updates, international brand awareness and an expanding product range. It has its products shelved in 500 Australian stores, and it targets more than 2,000 stores in the span of 12 months.

In its H1 FY19 results, the group reported an increase in revenue from $390,764 in H1 FY18 to $939,086 in H1 FY19, which was majorly driven by seed sales, cosmetic product sales, federal government research and development tax incentives and rebates, and NSW government export marketing development and innovation grants. Its loss for the period reduced to $996,254 as compared to $1,109,874 in H1 FY18. This was majorly due to an increase in the employee benefit expenses and research expenditure.

On the stock information front, at market close on April 18, 2019, the stock of Abundant Produce was trading at $0.096, with a market capitalisation of $5.82 million. Its 52 weeks high was at $0.430, with an average volume of 93,800. Its absolute return for one year, six months and three months are -73.49%, -45.00%, and -45.00%, respectively.


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