How Are These 6 Stocks Moving On NZX Today-EVO, TRU, LIC, RUA, RAK, GXH?

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Technology, Telecommunications, Healthcare and Consumer are the key sectors that drive an economy. Even a slight boost in these sectors, paves the way for the development of the associated entities, which in turn promotes the growth of the economy. 

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On 9 April, at the time of writing, the benchmark index S&P/NZX 50 was trading in red at 12,627.740 basis points, down by 0.04%. The other indices trading in red zone were S&P/NZX All Materials, decreasing by 0.48% and S&P/NZX All Consumer Discretionary, down by 0.10%, to name a few.

With the recent announcement of recommencement of the flight routes between New Zealand and Australia from 19 April onwards, things are looking positive. The economies of both the countries are looking forward to receiving a boost in the hospitality sector. As per reports, around $1 billion is likely to be injected into the NZ economy with the start of the Trans-Tasman travel.

Further, with the nationwide rollout of the vaccination programme, as noted on 7 April 2021, 90,286 doses of the COVID-19 vaccines have been administered, with 1st dose and 2nd jabs given to 71,013 and 19,273 people, respectively.

These two major news have created an atmosphere of positivity amongst the Kiwis and for the economy.

Here in this article, let us look at the 6 NZX stocks, which are showing trends of being the movers and shakers of the board.

Evolve Education Group Limited

 

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Evolve Education Group Limited (NZX:EVO) lately raised AU$21.7 million through an institutional share placement, which was strongly supported by both the existing, as well as the new investors.

EVO would issue 19.7 million new shares under this placement and the funds thus raised shall be utilised towards expansion and acquiring new centres across Australia.

On 9 April, at the time of writing, Evolve Education Group was trading up by 0.76% at $1.320.

TruScreen Group Limited

TruScreen Group Limited (NZX:TRU) recently announced the successful use of its TruScreen cervical cancer screening device even during the difficult times of COVID 19.

However, research in China hinted at the limitation on the use TruScreen cervical cancer screening device in the absence of colposcopy and PAP facilities in situations where the hospital and healthcare facilities are hugely burdened with vulnerability and isolation centres owing to the pandemic.

However, researchers have pointed out that the TruScreen device is portable and does not burden the existing healthcare facilities. Moreover, it is an effective tool for HPV testing among women in the absence of cytology and colposcopy facilities.

On 9 April, at the time of writing, TruScreen Group was trading down by 1.04% at $0.095.

Livestock Improvement Corporation Limited

Livestock Improvement Corporation Limited (NZX:LIC) notified on the resignation of its General Manager Commercial, Simon O’Connor.

However, despite his resignation, Simon would continue to work until a suitable replacement has been found. Also, he will carry on assisting major company's projects from time-to-time.

On 9 April, at the time of writing, Livestock Improvement Corporation was trading flat at $1.020.

Rua Bioscience Limited

Rua Bioscience Limited (NZX:RUA) is the first company in New Zealand to obtain a license to grow cannabis for medicinal and research purposes. In March 2021, the Company successfully exported a sample of its herb to a Germany based distributer, Nimbus Health.

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By this year’s end, Rua Bioscience anticipates exporting huge commercial volumes of the cannabis flower to Nimbus Health, which the latter requires for therapeutic use for treating ill patients in Germany.

Through this agreement, RUA aims to export its medicinal cannabis to international markets, with the prime focus now being Germany.

On 9 April, at the time of writing, Rua Bioscience was trading down by 1.22% at $0.405.

Rakon Limited

Rakon Limited (NZX:RAK) of late has provided an update on its earnings guidance for FY2022. It anticipates an underlying EBITDA in the range of $27 million to $32 million for the said period.

The move came after the Company's disclosure that it has few crucial orders in the pipeline, which will enhance its revenue by about 20% in FY2022.

It is noted that RAK is continuously benefiting from the increased demand of its products from the Telecom sector because of the spread of the 5G network.

On 9 April, at the time of writing, Rakon was trading up by 2.06% at $0.990.

Green Cross Health Limited

Green Cross Health Limited (NZX:GXH) reported revenue of $277 million for the half-year period ended 30 September 2020, amid the challenging COVID-19 times.

During the period, EBIT and NPAT were recorded at $17.9 million and $8.8 million, respectively. However, the Company’s operating profit declined to $10.9 million, down 11%, indicating the impact of the pandemic on its retail sales.

Given the uncertainties prevailing in the market, GXH is working on maintaining a steady balance sheet and cash reserves and continues to emphasise on efficiency and cost management.

On 9 April, at the time of writing, Green Cross Health was trading up by 1.96% at $1.040.

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

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