Why These 6 NZX Stocks Are Witnessing Mixed Fortunes - IKE, RUA, WHS, MWE, NZR, LIC


  • Stocks witness fluctuations in prices amid various developments in the market.
  • Investors are on a look out for stock trends to make informed decisions.
  • Here are 6 NZX stocks that gained and declined on Wednesday.

NZX faces several price fluctuations due to a variety of factors such as improvements in regulatory policy, business acquisitions, financial updates, market speculation, and so on.

Gainers are stocks that experience a price increase while trade. Decliners are stocks that experience a price drop during trading.

Let’s have a look at these 6 NZX-listed stocks that gained and declined on the day.

ikeGPS Group Limited (NZX:IKE, ASX:IKE)

ikeGPS announced that it had secured a $1.2-million contract extension to help evaluate and build a major U.S. energy utility power system.

It follows an initial deal signed in October 2020 with a Fortune 100 company for the use of the IKE network to evaluate 350,000 power pole properties.

The Group also declared its Q4 FY21 period to March 2021 had witnessed record contracts close of roughly $5.4 million. Its FY21 revenue to March 2021 was nearly $9.3 million.

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On 5 May, IKE ended the trading session at $0.98, up 3.16% from its previous close.

Rua Bioscience Limited (NZX:RUA)

Rua announced a delay in its Good Manufacturing Practice certification due to hold-ups in testing abroad.

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The delay was due to a validation test, which needed the dispatch of samples to Melbourne and Canada, with product held up in international Customs now affecting testing timeframes. The process had started in November and was likely to be completed by late April.

Rua also announced global pharma executive Dr Andrea Grant as its Chief Commercial Officer.

On 5 May, RUA ended the trading session at $0.43, up 7.5% from its previous close.

Warehouse Group Limited (NZX:WHS)

The Warehouse Group posted a record H1 FY21 with an adjusted NPAT of $111 million, up 140% on pcp. Group sales rose 7.4% to $1808.3 million for the period while online sales growth was 50.3%.

ALSO READ: 5 NZX Stocks Gaining Volume During The Market Session - FBU, KMD, OCA, SPK, PCT

4 brands of WHS namely Noel Leeming, The Warehouse, Torpedo7 and Warehouse Stationery reported record operating profits. The Group confirmed an interim dividend of 13cps for FY21.

On 5 May, WHS ended the trading session at $3.5, up 2.64% from its previous close.

Marlborough Wine Estates Group Limited (NZX:MWE)

Marlborough Wine has successfully finished the 2021 harvest. The production in 2021 was down 26% from the peak harvest in 2020 and 20% from the average projected tonnes.

Further, there is a growing market pressure on grapes in 2021, as per MWE. The Company plans to reach a higher price per tonne based on district average pricing changes, which would help to mitigate any anticipated revenue loss.

ALSO READ: New Zealand’s Sauvignon Blanc Wine Has Upped The Game A Few Notches

On 5 May, MWE ended the trading session at $0.255, down 5.56% from its previous close.

The New Zealand Refining Company Limited (NZX:NZR)

Refining NZ has recently made an update on import negotiations. It says it's still evaluating the possibility of switching to an import terminal service in the future.

In April, the Group awarded a 35-year resource permission to operate both refinery and import terminal operations at its Marsden Point site.

On 5 May, NZR ended the trading session at $0.5, down 1.85% from its previous close.

Livestock Improvement Corporation Limited (NZX:LIC)

With a 10.4% growth in net profit, LIC had a good first half ended on November 30, 2020. This was because of an increase in sales of the company's premium artificial breeding options, as well as animal health and diagnostics research.

GOOD READ: Where Do NZ’s Dairy Exports Stand? A Glance At 3 Related NZX Stocks - ATM, FCG, SML

At the end of the year, the Group expects underlying profits to be in the region of $19-23 million. In 2021-22, it expects the same to be between $19 and $25 million.

The Group also announced that senior manager Simon O’Connor had resigned from the position of General Manager Commercial.

On 5 May, LIC ended the trading session flat at $1.16.

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

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