How 6 NZX Stocks are moving the needle? AIR, MEL, PEB, OCA, RYM, A2M

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How 6 NZX Stocks are moving the needle? AIR, MEL, PEB, OCA, RYM, A2M

 How 6 NZX Stocks are moving the needle? AIR, MEL, PEB, OCA, RYM, A2M

Source:katjen, Shutterstock

Summary

  • Stocks keep on fluctuating everyday amid economic changes or stock announcements.
  • NZX 50 fell 0.7% to 12,400.48 points on Tuesday.
  • COVID-19 related announcements and stock updates have brought about changes in share price of these stocks.

The stock markets have stayed volatile amid an uncertain macro-economic atmosphere. The NZ sharemarket fell after the Easter weekend with the benchmark S&P/NZX 50 Index dropping 0.7% to 12,400.48 points on Tuesday.

With the economy witnessing new changes every day, stocks keep on fluctuating up and down. Share price can be affected by various factors like recent announcements made by the stock companies on the current market or the economic circumstances.

Let’s have a look at the performance of these 6 NZX listed stocks.

Air New Zealand Limited (NZX:AIR)

Air New Zealand welcomed the news of trans-Tasman bubble announced on Tuesday. Greg Foran Air NZ CEO stated that the airline had been preparing for the same since few months and the airline will restart its travel to 9 ports in Australia, with initial capacity at roughly 70% of levels before coronavirus struck.

He also added that Air NZ trans-Tasman flights are on sale now. The airline also stated that the opening of the bubble would improve its cash burn.

On 7 April, at the time of writing, AIR was trading at $1.875, up 2.74%.

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Meridian Energy Limited (NZX:MEL)

Meridian Energy Limited announced 11.6% higher retail sales volumes as compared to pcp in its latest operating report. Further, national hydro storage reduced from 80% to 70% of historical average from February 2021 to 16 March 2021.

The Group expects capex to be between $120 million to $130 million for FY21, with the declaration of the launch of the Harapaki wind farm build.

On 7 April, at the time of writing, MEL was trading at $5.3, up 0.95%.

Pacific Edge Limited (NZX:PEB)

Pacific Edge announced the completion of a commercial deal with California-based Facey Medical Group. The contract involves the use of Cxbladder Detect and Cxbladder Monitor for Facey Medical Group patients. The agreement showed the continuing commercial adoption of Cxbladder in the US.

On 7 April, at the time of writing, PEB was trading at $0.99, up 1.02%.

Oceania Healthcare Limited (NZX:OCA, ASX:OCA)

Oceania Healthcare recently announced its plans to raise $100 million for its expansion plans in Auckland. The Group has completed $80 million of institutional placement and has also launched a $20 million retail offer. The offer will close on 12 April.

Oceania will use the funds from the equity raising for acquisition of both Waterford on Hobsonville Point and the Franklin Property.

On 7 April, at the time of writing, OCA was trading at $1.3, up 0.78%.

Ryman Healthcare Limited (NZX:RYM)

Ryman Healthcare showed good progress in the first 6 months to 30 September despite the impact of COVID-19.

Cameron Holland was named the first CEO of the Company's Australia vertical on March 3, while Chris Evans will be named its Chief Construction Officer. According to Gordon MacLeod, Chief Executive of RYM, the company is delighted to have reached its goal of opening five usable villages by 2020.

On 7 April, at the time of writing, RYM was trading at $15.36, up 1.05%.

The a2 Milk Company Limited (NZX:ATM)

Due to the COVID-19-induced effect on the daigou and cross-border e-commerce, a2 Milk Company recorded sales of $677.4 million and EBITDA of $178.5 million in 1H FY21, down 16% and 32.2% respectively, from pcp. The Business, on the other hand, did exceptionally well in China-label infant nutrition with a 45.2% growth in sales.

In Australia, the Group performed well in liquid milk, and in the US, the Group modified its implementation strategy, which benefited ATM.

For FY21, ATM forecasts $1.4 billion in turnover and a Group EBITDA margin of 24% to 26%.

On 7 April, at the time of writing, ATM was trading at $8.35, down 0.12%.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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