The Zoono Group Ltd (ASX: ZNO) share price took flight in trading today. This came after the company released its quarterly activities report.

At the end of Thursday's session, shares in the antimicrobial solutions company were 26.55% above their previous close, hitting 50 cents. However, Zoono reached an intraday high of 56.5 cents apiece earlier in the afternoon.

Let's take a look at what had investors excited today.

Improving margins and continued expansion

Investors were bidding the Zoono share price higher with ferocity on Thursday. More than 2.5 million shares were traded, which is above average for the sanitiser company.

According to the release, Zoono achieved NZ$7.5 million in invoiced sales during the first quarter. However, this consisted of NZ$4.7 million of delivered sales, with the other NZ$2.8 million yet to be shipped.

Despite the company's sales falling from its COVID-19 peaks, it continues to push the expansion of its markets and customers.

Importantly, Zoono is focusing on regions where it is uneconomical for other foreign companies to compete. This has assisted in lifting the company's gross profit margin from 59% to 71%, which can only be a positive for the Zoono share price.

Additionally, it is aiming to obtain a direct presence in all major European Union markets in the next 6 to 9 months. Furthermore, following a successful trial with Keolis Group in France, Zoono's products will be used across 27 districts where transport systems operate. On top of this, several additional major new customers in France are expected to be signed this quarter.

Positively, Zoono suggested it is unlikely there will be a need to raise capital in the foreseeable future. At the end of the quarter, the company held NZ$10.1 million in cash equivalents.

Zoono share price snapshot

Taking a look at the 1-year chart, we can see the Zoono share price has been in decline since July 2020. The company received a massive boost to its valuation amid the need for additional sanitisation due to COVID-19.

However, sales have dwindled in sync with the increase in vaccinations around the world. In turn, the Zoono share price is down 67% over the past year.

Finally, the company trades on a price-to-earnings (P/E) ratio of 15.4 times based on its 12-month trailing earnings.

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The Zoono Group Ltd (ASX: ZNO) share price slipped into the red in today's session. The dip arrives as Zoono announced its progress for the quarter.

Let's comb over the company's results and highlights in finer detail.

Quick refresher on Zoono

Zoono is a biotechnology company that specialises in environmentally-friendly antimicrobial products.

Its mission statement centres on providing non-toxic and sustainable germ protection to individuals across the globe.

Zoono has a market capitalisation of $108 million.

Zoono's quarterly results

The company has realised $28.8 million in cash receipts for the full year. This includes unaudited sales revenue of $6.6 million for the quarter.

Zoono also announced a suite of new sales and distribution agreements that are now in place. These include sales and distribution agreements in France, Russia, China and India.

For instance, Zoono is now selling to "several French multinational customers," and it has signed three new distribution agreements in China.

Furthermore, a new distributor in India placed a large 100,000-litre order, and "sales have been particularly strong in the public sector" in Russia.

Zoono exited the quarter with $7.4 million in cash and receivables. All positive signs for the Zoono share price.

Additional takeouts driving the Zoono share price

In addition to these agreements, Zoono announced a selection of "new business opportunities" in the report.

To illustrate, Zoono described advancements in "mould remediation" with a partner in South Africa. This activity aims to "prevent black mould growing on cardboard packaging".

Moreover, Zoono UK has started a strategic partnership with a third party in order to develop "a unique delivery system" for its Zoono Z-71 microbe shield.

The company is testing this system using "existing air conditioning infrastructure" in large buildings.

The proprietary process, which is owned by the third party, converts Zoono's solution into a gas.

As per the company, the gas "is then pumped throughout the building" via the air con. Because the "gasified Zoono is heavier than air, it settles on (and treats) the surface" it lands on.

Again on the the Z-71 shield, it displayed a "99.99% efficacy against [preventing] Coronavirus MHV-3 after 30 days" in trials conducted on the product in Brazil.

Despite these advancements, shareholders continued the selling pressure on Zoono shares today.

Zoono shares closed the day at 66 cents apiece, a 15.92% drop into the red from the market open.

Zoono share price snapshot

The Zoono share price has posted a year-to-date loss of nearly 50%, extending the previous 12 month's loss of 70%.

Both of these returns have lagged the S&P/ASX 200 Index (ASX: XJO) return of ~23% over the past year.

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The Zoono Group Ltd (ASX: ZNO) share price is flying higher today after the sanitiser producer released a company update. The announcement contained several positive pieces of information.

At the time of writing, the Zoono share price has retreated slightly but still remains a staggering 38.3% higher to 83 cents per share.

US tested and approved boosts Zoono share price

According to the release, Zoono's Microbe Shield surface sanitiser has been tested by an independent laboratory in New Jersey, United States. The US FDA regulated facility found Zoono's flagship sanitiser to be successful against Human Coronavirus 229E. Previously the products had only been tested against the COVID surrogate feline coronavirus.

Additionally, the product now meets the US EPA Standard ASTM E1053, which relates to the assessment of the virucidal activity of chemicals.

Following the US regulatory approval, the company has sourced new distribution partners in Norway, Luxembourg, Greece, and Poland. Reportedly initials orders are pending in each country.

Deals for days

In another win for the Zoono share price, the company has gained another two highly notable partnerships. After an extensive market evaluation, Microsoft Corporation (NASDAQ: MSFT) has offered Zoono the opportunity to be an approved supplier to the tech company's office network.

An initial purchase of Zoono's sanitiser products has already been received for the Redmond Campus. This location is Microsoft's corporate headquarters in Washington, with 125 buildings and 53,500 staff across the campus. A full US rollout will be engaged once employees return to the campus in May.

Secondly, Zoono has partnered with Boeing Co (NYSE: BA) to distribute Microbe Shield to airlines globally. The flagship sanitiser meets the Boeing standard for use in aircraft interiors. As a result, Boeing has made the product available from its official online store.

Sales, production, and intellectual property

Zoono indicated that its orders shipped for Q3 FY21 are in excess of $5 million. This is despite global freight and logistic challenges. Furthermore, Fine Hygiene Group is on target to meet sales projections of US$7 million over the next 6 months. Once relevant regulatory requirements are satisfied, Fine will expand into new markets including Europe, United States, and Australia.

Lastly, the company has brought its plastic bottle production in-house. This is in an effort to avoid supply chain bottlenecks. Zoono plans to commence production in the near future. As a means of protecting the company's specialised formulations, global patent applications have been submitted.

Zoono share price rejuvenation

The update is a sight for sore eyes, after a year of disappointing share price performance for Zoono shareholders. Even with the inclusion of today's gain, the share price is down 53% in the past 12 months.

However, this seemingly positive update has brought a renewed interest to Zoono. In fact, the traded volume is in excess of 5.8 million shares — more than 17 times the shares monthly average volume.

The company's share price remains volatile due to its small market capitalisation of $135 million.

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It has been a volatile day, but in late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the month with a gain. At the time of writing, the benchmark index is up 0.2% to 6,805.4 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are pushing higher:

AMP Ltd (ASX: AMP)

The AMP share price is up 4.5% to $1.32. This follows the announcement of the exit of its CEO Francesco De Ferrari. Mr De Ferrari will be replaced by Alexis George from Australia and New Zealand Banking GrpLtd (ASX: ANZ). Ms George is the Deputy CEO at ANZ and was previously the Group Executive Wealth Australia. She oversaw the sale of the latter business in 2018. The new CEO will join the company in the third quarter of 2021.

Boral Limited (ASX: BLD)

The Boral share price has jumped 6% to $5.82. This morning the building products company announced the completion of the sale of its 50% share in the USG Boral joint venture to Gebr Knauf KG. Boral has commanded a price of US$1.015 billion (A$1.33 billion) for the business. While some of the proceeds will be used to pay down debt, a good portion will go towards a share buyback for up to 10% of its issued capital.

Rhipe Ltd (ASX: RHP)

The Rhipe share price has surged 7% higher to $1.67. Investors have been buying the cloud and technology solutions provider's shares after it announced agreements to acquire EMT Distribution (Australia) and EMT Distribution (Singapore) for $11 million in cash. EMT is an Australian headquartered cyber security distribution specialist. It focuses on sourcing innovative security software vendors and working with channel partners to deliver both on-premise and cloud-based security solutions.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price has rocketed 31% higher to 78.5 cents following the release of a company update. This morning the biotech company announced that its flagship product, Zoono Microbe Shield, has now been successfully tested against the Human Coronavirus 229E and now meets the US EPA Standard ASTM E1053.

The post Why AMP, Boral, Rhipe, & Zoono shares are pushing higher appeared first on The Motley Fool Australia.

Even though the S&P/ASX 200 Index (ASX: XJO) is the most followed ASX index covering the Australian sharemarket, the All Ordinaries Index (ASX: XAO) is actually the oldest one. Established in 1980, the All Ords covers 500 of the ASX's largest companies, as opposed to the more concentrated ASX 200.

This in itself is not uncommon by global standards. Over in the United States, the most tracked index is the S&P 500 Index (INDEXSP: .INX). And there are indexes that cover as many as 5,000 different US companies. You can even get an exchange-traded fund (ETF) on the ASX – the Vanguard U.S. Total Market Share Index ETF (ASX: VTS) – that covers 3,669 of these companies.

There is a plethora of ASX ETFs that cover the ASX 200. One of the most popular is the iShares Core S&P/ASX 200 ETF (ASX: IOZ). There's even one ETF in the Vanguard Australian Shares Index ETF (ASX: VAS) that covers the ASX 300. But, to this writer's knowledge, there is no ASX ETF that tracks the All Ordinaries. None. Zilch. That is rather uncommon, and unusual, one would think.

So why is our oldest index not 'investable'?

The All Ords and liquidity

Well, there's one strong possibility: liquidity. ETFs that track indexes are more effective when the index holds large companies with liquid shares. The smaller a company's market capitalisation becomes, the fewer buyers and sellers it will inevitably have, and thus, the more illiquid its pool of shares will be. The ASX 200 functions quite well in terms of liquidity. But when you throw in another 300 smaller companies, it throws a few spanners into the works.

To illustrate, let's look at one company that is near the bottom of the All Ords pile – Zoono Group Ltd (ASX: ZNO). Zoono has a market cap of $104.3 million. According to ASX data, 220,000 shares traded hands on 23 March. In comparison, 30.9 million Telstra Corporation Ltd (ASX: TLS) shares swapped hands on the same day.

It's probably just not efficient for an index fund to track dozens or hundreds of companies that small. Especially in what is already a relatively small capital market here in Australia. And it can also cause liquidity issues (like dramatic share price moves) if an index fund enters such a small market.

It's most likely a combination of these reasons why we don't see an All Ordinaries ETF. Who knows what the future will hold. But for now, investors will have to either buy their favourite All Ords companies themselves or just stick with the ASX 200 or the ASX 300.

The post Why is there no ASX All Ordinaries ETF? appeared first on The Motley Fool Australia.

The Zoono Group Ltd (ASX: ZNO) share price is under pressure on Thursday.

In afternoon trade the biotech company's shares are down 7% to 73.5 cents.

This leaves the Zoono share price trading within touching distance of its 52-week low of 71 cents.

Why is the Zoono share price under pressure?

Investors have been selling Zoono shares following the release of its half year results.

For the six months ended 31 December, the company reported a total revenue of NZ$14.4 million and a net profit before tax of NZ$2.7 million. This compares very favourably to revenue of NZ$1.9 million and a loss before tax of NZ$0.7 million a year earlier.

Zoono's growth was driven by increased demand for its anti-microbial solutions because of COVID-19. It is worth noting that the prior corresponding period was before the emergence of COVID-19.

COVID-19 tailwinds and headwinds

Interestingly, COVID has both benefitted and hindered its performance. While it is highly unlikely that its sales would have reached this level without a pandemic, negative COVID impacts have restricted its sales growth.

Management explained: "While the Company has, overall, undoubtedly benefited from the impact of the COVID-19 pandemic, in many respects, the opposite has been the case in the review period in that the disadvantages have outweighed the benefits. Confidence in and around the workplace has been adversely affected and, with the Company's business being primarily focussed on the B2B sector, several major supply agreements have been put on hold or deferred simply because either the businesses or the buildings housing them (or both) have been closed and/or the employees not at work."

Management estimates that these negative impacts total NZ$6 million to NZ$7 million.

Outlook

Possibly weighing heavily on the Zoono share price today is its outlook for the remainder of the year.

Despite its strong revenue growth in the first half, management isn't expecting its full year growth to be as explosive. It is merely aiming to surpass last year's revenue.

Zoono's Managing Director and CEO, Paul Hyslop, commented: "We are very pleased with the momentum we were able to maintain throughout the first half of the financial year. Moving forward, our focus will continue to be the B2B markets in the Americas, UK/EU, China/ASEAN and MENA/India."

"While the home markets of NZ and Australia are important, the sales volumes available in the larger off shore markets demand that Zoono continues to aggressively go pursue new business globally. We remain confident of delivering a year-end revenue result that surpasses last year."

The post Why the Zoono (ASX:ZNO) share price is tumbling 7% lower appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) has started the week strongly and is racing higher. In afternoon trade, the benchmark index is up 0.9% to 6,868.2 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are tumbling lower:

Advance NanoTek Ltd (ASX: ANO)

The Advance NanoTek share price is down 4% to $3.72. This is despite there being no news out of the advanced materials company. However, the company has been struggling recently due to a collapse in demand for its products from sunscreen manufacturers. As a result, it is expecting to report a $90,000 first half profit. This compares to $4.8 million in the prior corresponding period.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is down 2.5% to $2.57. Investors have been selling the chemicals company's shares following the release of a trading update. That update revealed that its Dyno Nobel Americas Explosives segment is experiencing unplanned downtime due to equipment failure. The total earnings impact of the outage is expected to be US$11 million and will be included in the first half results.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price has fallen 3% to $2.29. This decline appears to have been driven by profit taking from some investors. Last week the dendrimer products developer's shares hit a record high following a positive announcement. This meant that prior to today, the Starpharma share price was up 53% since the start of the year.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price is down over 7% to 82 cents. This latest decline means the biotech company's shares have now lost two-thirds of their value over the last six months. Investors have been selling Zoono shares after sales of its sanitiser products weakened considerably. Zoono recently reported second quarter cash receipts of $5.5 million. This was down from $15 million in the first quarter.

The post Why Advance NanoTek, Incitec Pivot, Starpharma, & Zoono are tumbling lower appeared first on The Motley Fool Australia.

The Zoono Group Ltd (ASX:ZNO) share price has tanked more than 17% today after the company released its report for the second quarter of FY21. The fall brings the Zoono share price below the $1.0 mark.

How has Zoono performed?

Zoono's quarterly report highlighted continued sales momentum. For the second quarter ending 31 December 2020, the biotech company reported invoiced sales of NZ$14.1 million.

Unaudited inventories of NZ$14.4 million continue to meet current demand. The company noted that stock was being held in several global locations in order to enable timely delivery.

In addition, the company reported a bank balance of NZ$9.1 million, which included NZ$1.8 million in positive net receivables/payables. For the six months to date, Zoono also reported total cash receipts from customers of NZ$20.5 million.

The company also highlighted the launch of its triple layer, re-usable face mask in Australia and New Zealand during the quarter.

What does Zoono do?

Zoono is a biotechnology company that develops, manufactures and distributes various antimicrobial solutions. The company's products are based on the 'zoono molecule' which is a unique antimicrobial molecule used to combat a variety of pathogens.

Various regulatory agencies have already approved Zoono's products for distribution. In a recent update, Zoono announced that the company had entered into a supply agreement in the United Arab Emirates.

What is Zoono focussing on?

In providing the market with an overview of its operations around the world, Zoono noted that the company continues to aggressively pursue new businesses globally. As a result, the company is confident on delivering an improved year-end revenue result for FY21.

The company highlighted that the B2B markets in the UK/EU, China, the Middle East and Africa will be the main focus moving forward given their large volume requirements. In addition, Zoono acknowledged the importance of its home markets in Australia and New Zealand.

Zoono also highlighted animal health as being a significant segment that the company will continue to pursue.

About the Zoono share price

The Zoono share price opened today's trading session at $1.18 and then headed south in early afternoon trade. At the time of writing, shares in Zoono are trading 17.2% lower at 98 cents.

The post Zoono (ASX:ZNO) share price tanks 17% on quarterly report appeared first on The Motley Fool Australia.

Looking back on the year that was 2020 – who would have thought in January that we would experience a global pandemic; working from home would become the norm; people would fight over toilet paper rolls; balcony raves would replace music festivals, and we'd be elbow bumping our way into 2021.

But nevertheless, the pandemic created unique circumstances that led to some unlikely big ASX winners for the year.

A sea of sanitisers

Everyone is now much more familiar with the humble hand sanitiser. As a simple and effective method of killing pathogens, demand for the product skyrocketed as a frontline defence against COVID-19.

The Zoono Group Ltd (ASX: ZNO) share price has benefitted from being a significant supplier of sanitiser and disinfectant products globally. Zoono has delivered an 83% return, compared to the S&P/ASX 200 Index (ASX: XJO) which has fallen 1.59%.

Logically, the share price rise is reflected in the revenue growth of the company. Zoono experienced enormous revenue growth, from NZ$1.8 million in FY19 to NZ$38.3 million in FY20.

Zoono is still eyeing off growth into 2021, with the company's latest update outlining the signing of 2 new distribution agreements, regulatory approval for Russia, and the launch of a new 'Zoono treated' face mask.

Cooking up a storm

Closures and restrictions meant that it was a whole lot harder to go out and enjoy a good meal. This meant people had to turn to self-made options, but who wants to think about what to cook during a pandemic? Enter the subscription-based meal-kit provider Marley Spoon AG (ASX: MMM).

As notified in March, the company witnessed an unprecedented surge in demand for their home delivered meal kits in all its markets. This trend continued throughout the year and powered the company to deliver 21 million meals in the first half of 2020.

In Q3, Marley Spoon's revenue had grown by 163% in the US compared to the prior corresponding period. The share price has certainly been no laggard either, with the 1-year return being 956%.

Marley Spoon is hungry for more. The company announced on 11 December that it believes the change in consumer behaviour is still in its early phase. Hence, the company plans to increase capacity through a number of manufacturing centre expansions.

Did someone say "DIY patio"?

"Bored in a house, and I'm in a house bored" – not just a Tik Tok song in 2020 – we lived it. At a point, restrictions limited leaving the house to 'essential' trips only, and then we were confined to a set distance. This gave very little freedom to do anything interesting or productive. Soon people realised that it was a great time to fix that fence they had been putting off; or build that patio they had been meaning to get around to.

The Wesfarmers Ltd (ASX: WES) share price has benefited from this, growing a very respectable 22% in the last year. A substantial contributor is the Bunnings business, which has been the go-to store during the pandemic for all DIY supplies. In Wesfarmers' trading update Bunnings sales had increased by 25.2% year to date, compared to the prior corresponding period.  

But it doesn't stop there. Wesfarmers also benefitted from the working from home shift – which meant more people buying desks, chairs, stationery etc. from Officeworks. This lifted Officeworks year to date sales by 23.4%.

Lastly, Wesfarmers' acquisition of the online retailer, Catch Group, put them in prime position for the online shopping bonanza – sales up 114.4%.

Foolish takeaway

No one would have guessed that these 3 ASX shares would have performed as well as they did, and less likely would be to have predicted the reasons why. 2021 will certainly hold its own set of challenges and opportunities – which shares will be beneficiaries of that, at the moment that's anyone's guess.

The post 3 ASX shares that were unlikely winners in 2020 appeared first on The Motley Fool Australia.

The Zoono Group Ltd (ASX: ZNO) share price is among the best performers on the ASX this morning.

At the time of writing, the antimicrobial solutions provider's shares are up 8% to $1.39.

What did Zoono announce?

This morning Zoono released an update on a number of company developments, including some large sales and distribution agreements.

One of those developments included testing of Zoono's Z-71 Microbe Shield Surface Sanitiser by the Dubai Central Laboratory Department.

That test observed that there is a complete reduction of test bacteria (99.9%) on all provided material surfaces till 30 days from the initial coating, except in Rubber and Wood surfaces. The rubber and wood surface has some viable growth on the 30th day with a reduction of 90% test bacteria.

Additional testing undertaken by Intertek Caleb Brett in Dubai found a 100% reduction between the slide control recovery level and Zoono Z-71 recovery level at 24 hours, 7 days, and 30 days.

Following this comprehensive testing, Zoono has now received the Emirates Authority for Standardisation and Metrology (ESMA) Certificate of Conformity.

Supply agreements.

In light of this certification, the company has entered into a supply agreement with Fine Hygienic Paper in the Emirates and has received the initial NZ$1.5 million deposit against the first-year purchases.

The overall agreement is for five years and has minimum annual performance target volumes of NZ$21.5 million for the first 12 months. After which, it has target volumes of NZ$28.5 million in the second year, NZ$35.7 million in the third year, and then a 5% increase thereafter.

Zoono also revealed a three-year agreement in Russia with hygiene services company ECO-SALUS. By the end of the term, its volumes are expected to be a minimum of NZ$5 million a year.

New product launch.

A final development has been the launch of a new product, which management notes is diversifying its range of antimicrobial products.

The new product is a face mask treated with Zoono, protecting the wearer from pathogens over a period of time.

But this may not be the last product launch. Management advised that it continues to work with its globally recognised customers and distributors with the aim of developing new products to help them protect their staff, customers, and communities.

The post Why the Zoono (ASX:ZNO) share price is jumping 8% higher appeared first on The Motley Fool Australia.

The Zoono Group Ltd (ASX: ZNO) share price has surged over 7% this week, highlighting positive investor sentiment. Just yesterday, the company updated the market with an announcement which, at one point, sent the Zoono share price nearly 15% higher to $1.63. This was followed by a slight retrace today with the company's shares closing the week 7.38% higher at $1.60.

Let's take a look at what Zoono does and why its shares have surged higher this week.

What does Zoono do?

Zoono is a global biotech company that develops, manufactures and distributes antimicrobial solutions. The company produces sprays, wipes and foams suited for skin care, surface sanitisation, and mould remediation treatments.

Zoono's products have been designed to work on any surface, killing pathogens such as bacteria, viruses, algae, fungi and mould.

What's moving the Zoono share price?

Investors have been driving the Zoono share price higher late this week after the company reported it received some positive test results from a series of independent laboratory tests in the United Kingdom.

The first number of trials was conducted on passenger trains servicing UK Rail. In total, 72 'hot' touch areas were tested across 23 trains for any presence of COVID-19, E.coli and staphylococcus. The 'hot points' within carriages and driver's cabs had been treated with Zoono's Microbe Shield between 8 and 30 days prior to testing.

The results were carried out by GTECH Strategies Limited in collaboration with an independent UKAS accredited test laboratory.

It found no detection of COVID-19 and E.coli in all 72 tests. However, 70 of 72 trials did not find staphylococcus, with 2 tests discovering an extremely low amount, being considered as 'near sterile'.

In the United Arab Emirates, Dubai Central Laboratory also carried out efficacy and durability tests. The experiment used Zoono Microbe Shield on steel, glass, plastics, tile and carpet with the objective to destroy all pathogens. The results confirmed a 99.9% efficacy against staphylococcus and E.coli. However, when used on wood and rubber, the outcome achieved was above 90% at 30 days.

In addition, trials were completed at Intertek, a global laboratory operating under GLP (the OECD Principles of Good Laboratory Practice). Additionally, Zoono Microbe Shield was found effective against E.coli, Pseudomonas, Staphylococcus, Enterococcus, Listeria and Salmonella.

Other developments

In other positive developments for the Zoono share price, the company advised it has commissioned tests of its alcohol-free hand sanitiser, GermFree24. The study for the hygienic hand rub was carried out in Poland by Lab-Test Laboratorium S.C.

Zoono said that all its products have been backed by over 100 laboratories worldwide proving their efficacy against pathogens. Furthermore, the company said it has helped protect communities from risk of infection through its products being used across buildings, vehicles, aircrafts, homes and hospitals.

The post Why the Zoono (ASX:ZNO) share price surged 7% this week appeared first on The Motley Fool Australia.

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a strong gain. At the time of writing, the benchmark index is up 1% to 6,240.2 points.

Four shares that have failed to follow the market higher today are listed below. Here's why they are dropping lower:

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway share price is down almost 2% to $2.25. This decline could be in response to media reports over the weekend. Those reports allege that workers were transferring medical waste from bins without protective gear at the height of the COVID-19 crisis. This was believed to be part of a plan to ship waste interstate to ensure it didn't exceed its environmental license restrictions.

Crown Resorts Ltd (ASX: CWN)

The Crown share price has sunk 10% lower to $8.08. This morning Crown revealed that it has been contacted by AUSTRAC. According to the release, AUSTRAC has identified potential non-compliance by Crown Melbourne with anti-money laundering and counter-terrorism financing rules. This includes concerns in relation to ongoing customer due diligence and adopting, maintaining, and complying with an anti-money laundering and counter-terrorism financing program.

Opthea Ltd (ASX: OPT)

The Opthea share price has crashed 13.5% lower to $2.40 after announcing the pricing of its initial public offering in the United States. The biopharmaceutical company is offering 8,563,300 American Depositary Shares (ADS), representing 68,506,400 ordinary shares, at a price of US$13.50 per ADS. The aggregate gross proceeds are expected to be approximately US$128.2 million. Based on the current exchange rate, this offer equates to a 14.4% discount of A$2.38 per share.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price has dropped a further 5% to $1.36. Investors have been selling the antimicrobial solutions provider's shares since the release of its first quarter update last week. In fact, today's decline means the Zoono share price is down 26% since that update. Zoono, which sells antimicrobial hand sanitisers and sprays, reported first quarter sales of NZ$15 million. This was down 28.2% from the NZ$20.9 million it achieved in the fourth quarter of FY 2020.

The post Why Cleanaway, Crown, Opthea, & Zoono shares are sinking lower today appeared first on The Motley Fool Australia.

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is back on form and charging notably higher. At the time of writing, the benchmark index is up a sizeable 0.8% to 6,229 points.

Four shares that have failed to follow the market higher today are listed below. Here's why they are tumbling lower:

The IDP Education Ltd (ASX: IEL) share price is down 7% to $18.75. Investors have been selling the language testing and student placement services company's shares after it revealed that its largest shareholder was considering a further sell-down. Education Australia owns approximately 40% of IDP Education. It notes that its shareholders, 38 universities, are struggling during the pandemic and in need of funds.

The WiseTech Global Ltd (ASX: WTC) share price is down 1.5% to $27.70. This appears to have been driven by a spot of weakness in the tech sector on Thursday. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is down approximately 0.2%. In addition to this, this morning the logistics solutions platform provider released its annual report.

The Zip Co Ltd (ASX: Z1P) share price has fallen 2.5% to $7.39. This morning analysts at UBS retained their sell rating and $5.50 price target on the buy now pay later provider's shares. It has reduced its first half forecasts for Zip's ANZ business following softer than expected transaction numbers during the first quarter of FY 2021. This price target implies potential downside of over 25%.

The Zoono Group Ltd (ASX: ZNO) share price has dropped a further 5% to $1.59. Investors have been selling the antimicrobial solutions provider's shares since the release of its first quarter update. Zoono, which sells antimicrobial hand sanitisers and sprays, reported first quarter sales of NZ$15 million. This was down 28.2% from the NZ$20.9 million it achieved in the fourth quarter of FY 2020.

The post Why IDP Education, WiseTech, Zip, & Zoono shares are tumbling lower today appeared first on The Motley Fool Australia.

The Zoono Group Ltd (ASX: ZNO) share price has been a very poor performer on Wednesday.

In afternoon trade the antimicrobial solutions provider's shares are down a sizeable 9% to $1.68.

This latest decline means that the Zoono share price is now down by almost 50% since peaking at $3.29 in July.

Why is the Zoono share price sinking lower?

Investors have been selling Zoono's shares following the release of its first quarter update this morning.

While that update reveals very strong sales growth in comparison to a year earlier, it also shows a sizeable slowdown in comparison to the last quarter.

Zoono, which sells antimicrobial hand sanitisers and sprays, reported first quarter sales of NZ$15 million. This is down 28.2% from the NZ$20.9 million it achieved in the fourth quarter of FY 2020.

If this level of sales can be maintained, it will deliver annual sales of NZ$60 million.

Judging by its share price performance today, investors may believe this isn't enough to justify a A$300 million valuation, let alone the A$600 million market capitalisation it had in July.

What else did Zoono report?

Zoono reported positive operational cash flow for the quarter of NZ$2.8 million, down from NZ$5.3 million for the June 2020 quarter.

However, this couldn't stop its cash at bank decreasing from NZ$10.3 million to NZ$7.5 million. Though, management notes this was driven largely by tax and dividend payments of NZ$7.5 million. Without these payments its cash balance would have been NZ$15 million.

At the end of the period the company had inventories of NZ$14.2 million available to meet current demand. Management advised that stock is held at strategic global locations to enable timely deliveries.

Should you invest?

I think investors would be better off keeping Zoono on their watchlist for now.

While I believe COVID-19 will lead to increased use of hand sanitiser over the long term, it is a highly competitive market.

In light of this, it is difficult to gauge just what level of sales Zoono will be able to maintain in the coming quarters.

As a result, I would suggest investors wait for things to settle down before trying to value the company.

In the meantime, I would sooner buy a healthcare share such as CSL Limited (ASX: CSL) ahead of Zoono.

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While everyone has been busy looking at buy now, pay later (BNPL) shares, there are plenty of other ASX shares that have also grown considerably since the start of the year. Each of the following companies has developed a solid foundation based on innovative technology, patents, or medical research. As such, I think it's likely that these ASX shares will continue to grow. 

Whispir Ltd (ASX: WSP)

Whispir provides mass communication tools for organisations. Accordingly, it has won clients across a very diverse spectrum of Australian industries. To illustrate, some of these include Transport for NSW, RACQ, APA Group (ASX: APA), Roy Hill, and the country's number one health booking app, Health Engine. 

This ASX share rose by 9.65% on Friday alone, and has risen by 140.38% since the start of the year. The company has a high gross operating margin of 62%, and recurring revenues make up greater than 95% of its income. 

Zoono Group Ltd (ASX: ZNO)

Zoono is a very special ASX share. The company produces hand sanitiser which is certified against a range of bacteria and viruses. This includes the African Swine Flu, and on 28 February, it announced its product tested favourably in protecting against COVID-19. The company has rapidly scaled up production to keep up with escalating demand and has rapidly put together a range of distribution deals covering the globe. 

Over the past year, the Zoono share price has risen by 2,550%. Since 1 January it has risen by 207.25%.

Recce Pharmaceuticals Ltd (ASX: RCE)

Recce is a drug researcher working on synthetic antibiotics. In particular the company is working to develop treatments for antibiotic resistant super bugs. Moreover, the company is pioneering work on treatments for sepsis. According to the medical journal The Lancet, sepsis killed 11 million people in 195 countries in 2017. Right now, sepsis remains an unmet challenge.

The Recce share price has risen by 380.88% since 1 January. Interest piqued after the ASX share announced two of its products had been selected for a CSIRO trial into antiviral treatments for COVID-19.

Brainchip Holdings Ltd (ASX: BRN)

I think Brainchip is one of the year's great ASX shares. The company is the largest listed pure-play artificial intelligence company in the world. A range of security applications use its products for facial recognition and pattern recognition. This include casinos, subways and airports. 

The market has become more interested in Brainchip after the announcement that it had completed the wafer for its latest product. This is called a neuromorphic chip and is the first of its kind. In recent announcements, the company has entered into proof of concept partnerships across a range of sectors including gaming and autonomous cars. The Brainchip share price is up 760% in 2020.

The post These 4 ASX shares have grown more than 100% this year appeared first on The Motley Fool Australia.

The market may be sinking lower on Thursday, but that hasn't stopped the Zoono Group Ltd (ASX: ZNO) share price from zooming higher.

In late afternoon trade the biotech company's shares are up 3% to $2.06.

Though, at one stage today the Zoono share price was up as much as 9% to $2.18.

Why did the Zoono share price zoom higher?

Investors were buying the company's shares today after the release of a positive announcement before the market open.

According to the release United Airlines will be adding Zoono Microbe Shield to the airline's safety and cleaning procedures. Zoono Microbe Shield is an EPA registered antimicrobial coating that forms a long-lasting bond with surfaces and inhibits the growth of microbes.

The airline intends to add the product to its already rigorous safety and cleaning procedures for its entire mainline and express fleet before the end of the year.

At present, United is applying the coating each week on more than 30 aircraft. This includes on seats, tray tables, armrests, overhead bins, toilets, and crew stations.

Toby Enqvist, United Airline's Chief Customer Officer, commented: "This long-lasting, antimicrobial spray adds an extra level of protection on our aircraft to help better protect our employees and customers."

"As part of our layered approach to safety, antimicrobials are an effective complement to our hospital-grade HEPA air filtration system, mandatory mask policy for customers and daily electrostatic spraying. We've overhauled our policies and procedures and continue to implement new, innovative solutions that deliver a safer onboard experience," he added.

What impact will this have on sales?

While this has the potential to be a reasonably lucrative deal for Zoono, no details have been provided in respect to sales expectations from it.

Investors may have to wait for an update at its annual general meeting, which is expected to take place early in November.

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Although the All Ordinaries Index (ASX: XAO) is down 10% since the start of the year, not all shares on the index have performed as poorly.

In fact, a few shares on the All Ords have even managed to double in value this year despite the pandemic.

Two ASX shares that have achieved this are listed below. Here's why they are on fire in 2020:

Redbubble Ltd (ASX: RBL)

The Redbubble share price is up an incredible 288% since the start of 2020. Investors have been fighting to buy the ecommerce company's shares after its sales exploded during the second half of FY 2020 thanks to the shift to online shopping during the pandemic.

For the 12 months ended 30 June 2020, Redbubble delivered a 43% increase in full year revenue to $368 million and a 141% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to $15.3 million. Interestingly, one of the biggest drivers of its sales growth were fashionable facemasks. Pleasingly, Redbubble's strong form has continued early in FY 2021, with sales more than doubling during the month of July. In light of this, it looks well-placed to deliver another bumper result for the 12 months ahead.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price is up a massive 217% in 2020. The catalyst for this was the biotech company's exceptionally strong performance during the pandemic thanks to increased demand for surface and hand sanitisers. Demand was so strong that it reported revenue of NZ$38.3 million in FY 2020, up from just NZ$1.8 million a year earlier.

Things were equally impressive for its earnings, which lifted 944.5% year on year to NZ$20.6 million. The big question will be whether this level of sales is sustainable when the crisis eases or just a one-time sugar hit for Zoono. I would suggest investors keep their powder dry until there is more certainty with its future sales.

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The Zoono Group Ltd (ASX: ZNO) share price is zooming higher on Thursday after the release of its full year results.

At the time of writing the biotechnology company's shares are up 7% to $2.68.

How did Zoono perform in FY 2020?

It certainly was an unforgettable year for Zoono and its shareholders in FY 2020.

Due to incredible demand for hand sanitisers and sprays because of the pandemic, Zoono's sales went through the roof.

For the 12 months ended 30 June 2020, Zoono recorded revenue of NZ$38.3 million. This was up a staggering NZ$36.5 million from just NZ$1.8 million a year earlier.

It was even better for its operating earnings before interest, tax, depreciation and amortisation (EBITDA). After posting an EBITBA loss of NZ$2.4 million in FY 2019, Zoono swung to positive EBITDA of NZ$20.6 million in FY 2020. That's a whopping 944.5% increase on the prior corresponding period.

And on the bottom line, Zoono reported a net profit after tax of $16.7 million for the 12 months.

In light of this strong result, the company has announced its maiden dividend of NZ$0.032 per share unfranked.

What were the drivers of its result?

Zoono's Managing Director, Paul Hyslop, believes the result demonstrates increasing acceptance of the benefit of its long-lasting antimicrobial products, particularly during the current pandemic.

He said: "The second half of the year was outstanding. The team has done an amazing job keeping up with the unprecedented worldwide demand for our products."

"Strong sales came from Australia and New Zealand in both the B2B and B2C markets. UK and Europe continue to deliver and, in Asia and China, we are making good progress. We have also recently bought back the US distributor and will be seeking to mirror the success of the UK operations in this region," he added.

In addition to this, with distribution agreements being signed across the Middle East, Africa, and Asia, the chief executive believes "Zoono is becoming a true global company in the provision of antimicrobial protection."

However, management has provided no guidance for the year ahead.

Overall, it will be interesting to see how much of these impressive sales can be replicated in FY 2021 or whether they are largely one-offs. Time will tell.

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One of the best performing companies throughout the coronavirus crisis has been ASX meal kit delivery service Marley Spoon AG (ASX: MMM). Since mid-March, the Marley Spoon share price has skyrocketed an astronomical 978%, from just $0.23 on 17 March to $2.48 as at the time of writing. This is particularly impressive considering Marley Spoon shares spent most of 2019 trading well under 50 cents.

Marley Spoon is perfectly positioned to help populations get through COVID-19 lockdowns. With many restaurants closed, or at least accepting fewer bookings, and everyone spending more time at home, families are having to cook many more of their own meals. Throw in the fact that trips to the supermarket, particularly for those living in Melbourne's northern suburbs, feel more and more life-threatening, and you can see how the pandemic has created the perfect addressable market for Marley Spoon's services.

About Marley Spoon

Marley Spoon delivers pre-packaged meal kits to its customers once a week. Each box contains a number of recipes, as well as the pre-portioned ingredients required to cook them. The company promotes itself as a healthy food option that encourages people to develop their cooking skills, while cutting down dramatically on food waste.

In many ways, the company is really a grocery delivery service, but the Marley Spoon share price performance has outpaced that of the big supermarket chains like Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL).

Despite a partial recovery, the Woolworths share price is still trading below its pre-coronavirus levels. This is partially due to losses stemming from the company's hotels business as well as the significant remediation costs associated with historic payment shortfalls for salaried staff. The Coles share price has surged over 20% higher this year but hasn't seen anywhere near the same level of explosive growth as that of Marley Spoon.

Financial performance

Marley Spoon revenues for the March quarter were 42.8 million euros, an uplift of 46% over the same quarter in 2019. However, what was most notable from those results was that over half of the company's revenue was generated in just the last three weeks of the quarter alone, showing the incredible uptake in its services brought about by global lockdowns. If that momentum carried through into the second quarter, Marley Spoon is expected to announce positive operating EBITDA at group level in its June quarterly results – a significant milestone for the company.

Investors won't have to wait long to find out whether Marley Spoon has achieved that goal either, with June quarter results to be announced to the market on Wednesday.

Should you buy at today's Marley Spoon share price?

Marley Spoon isn't the only unlikely market darling to emerge out of the COVID-19 pandemic. Online furniture company Temple & Webster Group Ltd (ASX: TPW) has seen extraordinary growth in its share price, as has little-known hand and surface sanitiser manufacturer Zoono Group Ltd (ASX: ZNO).

However, even their gains pale in comparison to the skyrocketing returns of the Marley Spoon share price. Despite the excitement generated by its rapid growth, there is the obvious danger that it has already become wildly overvalued. And you don't want to be the one buying at the moment the bubble bursts.

Having said that, I think that spending so much time living under COVID-19 restrictions has brought about many changes in the way people shop. And many of these changes will persist well beyond coronavirus. The increased use of grocery delivery services like Marley Spoon could potentially be one of them.

So, even if you think the recent success of the Marley Spoon share price may only be short-term, I believe it has still proven itself an exciting enough company to warrant a place on your watchlist for 2020 and beyond.

The post Can the Marley Spoon share price climb even higher? appeared first on The Motley Fool Australia.

It's been a great day for Australian shares today, with the S&P/ASX 200 Index (ASX: XJO) up by 2.3% at the time of  writing. In particular, the biotech sector and the tech sector have been standout performers.

Here we examine 4 ASX biotech shares that have seen particularly strong share price gains today.

Polynovo Ltd (ASX: PNV)

Polynovo shares are up by 4.95% so far today. PolyNovo develops innovative medical devices including its patented polymer technology NovoSorb. The PolyNovo share price increase today comes off the back of a slide in its share price over the past two weeks, which occurred despite the biotech company announcing a record sales month in June in the US market. Polynovo's overall sales during the June quarter were 33% higher than the previous quarter. The company now forecasts its FY 2020 sales to be more than twice of those in the prior year.

Mesoblast Limited (ASX: MSB)

Mesoblast shares have surged 9.55% today on the back of a market announcement that an advisory committee of the United States Food and Drug Administration (FDA) has scheduled a meeting to review data supporting the company's Biologics License Application (BLA). This is in relation to the approval of RYONCIL (remestemcel-L), Mesoblast's drug used for the the treatment of steroid-refractory acute graft versus host disease in children.

Mesoblast has evolved to become a world leader in developing allogeneic, off-the-shelf, cellular medicines.

Paradigm Biopharmaceuticals Ltd (ASX: PAR) 

The Paradigm share price has surged 6.54% higher so far today.

Paradigm's core drug is pentosan polysulphate sodium (PPS), which has has anti-inflammatory and tissue regenerative properties. The drug is now being trialled for the treatment of osteoarthritis and Paradigm is also looking to expand its usage of PPS to the treatment of other diseases, including mucopolysaccharidosis.

The Paradigm share price was hit hard during the early phase of the coronavirus pandemic, however has been trending upwards since late March.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price has been on fire during 2020. It has increased another 7.37% so far today. Since the beginning of the year, the Zoono share price has increased from $0.63 to now be trading at $2.33 per share.

Zoono has continued to perform strongly from a financial perspective during the fourth quarter. Growth has been driven by growing demand for its antimicrobial solutions during the coronavirus pandemic in the ANZ region. Zoono also has signed key agreements with Johns Lyng Group Ltd (ASX: JLG) and Qantas Airways Limited (ASX: QAN). Unaudited revenue for the fourth quarter came in at NZ$20.9 million. 

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