Movers & Shakers: How did these 6 NZX stocks perform today?

Summary

  • Rakon releases high-frequency defence VCO and will announce its FY2021 results by May end.
  • Me Today signs trans-national distribution agreements to enhance its sales.
  • Blis Technologies to re-consider its sales model in Australia as digital sales are gaining prominence.

Many trade analysts and experts keep a tab on the stock market gainers and decliners. They are usually the stocks experiencing the maximum momentum by moving upwards and then going downwards.

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With the above background, here’s a collection of 6 NZX stocks, some of which have boomed while others have slumped during the day.

Rakon Limited

Rakon Limited (NZX:RAK) is one of the leading producers of products related to frequency control and timing solutions.

On 25 May, the Company released a high-frequency, low-phase noise, 'Voltage Controlled Oscillator', specially created for defence and high-reliability communication applications. Given its expertise, RAK can customise and build VCOs to function even under extreme surroundings.

On 27 May, the Company will publish its FY2021 results and looks forward to attaining an underlying EBITDA in the range of NZ$27 million-NZ$32 million in FY2022 because of the valuable orders procured by it, which will enhance its revenue in FY2022.

Read: Could These 6 NZX Penny Stocks Emerge As Multibaggers?

On 26 May, Rakon closed the market session in green, climbing up by 5.68% at NZ$0.930.

Me Today Limited

Me Today Limited (NZX:MEE) recently entered into distribution agreements with Ireland’s Uniphar Wholesale Limited, Australia’s Adore Beauty Group Limited, and Japan’s MASH Beauty Lab Co., Ltd to augment its sales and increase its global presence.

The Company expects to achieve a full-year gross revenue of about NZ$3 million for FY2022 because of these new partnerships.

On 26 May, Me Today closed the market session in green, increasing by 1.27% at NZ$0.080.

Evolve Education Group Limited

Evolve Education Group Limited (NZX:EVO; ASX:EVO) lately announced the completion of its institutional placement worth AU$21.7 million, which was supported both by the new as well as by its existing investors. The proceeds would help in the acquisitional strategies of the Group.

In March, the Group had acquired 10 childcare centres across Australia and would conduct its annual shareholders' meeting on 29 June.

On 26 May, Evolve Education Group closed the market session in green, up by 1.87% at NZ$1.090.

Blis Technologies Limited

Headquartered in Dunedin, Blis Technologies Limited (NZX:BLT) generates probiotics for mouth and throat, thereby strengthening the immune system. It recently appointed Laura Grant as its e-Commerce Director.

Moreover, BLT is planning to revise its sales model in Australia as digital sales are gaining prominence because of COVID-19. It will conclude its present distribution agreement with iNova Pharmaceuticals to focus on an integrated channel strategy across Australia, thereby building a D2C e-commerce selling platform.

On 26 May, Blis Technologies closed the market session in red, decreasing by 3.13% at NZ$0.062.

Read: 6 NZX Stocks That Flourished And Dwindled Today- BIT, BRM, CGF, BLT, RUA, CDI

Scott Technology Limited

Scott Technology Limited (NZX:SCT) of late provided a market update wherein the Company is witnessing rising contact agreements and international interest. This can be attributed to an increased demand for automation, which is being fueled by the improving economic environment.

The Company has numerous significant projects in pipeline with countries like the US, Australia, China, and Europe.

Some of its recent contract wins include designing customised automated systems for Whirlpool, Belgium’s Poco Loco, US’ Pilgrims, etc.

On 26 May, Scott Technology closed the market session in red, falling by 1.63% at NZ$2.420.

Read: Why To Consider 5 Hot NZX Dividend-Paying Stocks For Retirement?

The Bankers Investment Trust

The Bankers Investment Trust (NZX:BIT) recently notified on its compliance with the market abuse regulation.

As of 24 May, its share price was valued at 113.50p and NAV clocked at 112.82p. Its major portfolio holdings towards the end of April, comprised Microsoft, Mastercard, Visa and many more.

On 26 May, The Bankers Investment closed the market session in red, nosediving by 3.49% at NZ$2.210.

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