While Sirtex Medical Limited (ASX: SRX) will take the headlines for its 46% gain today, it wasn't the only share posting strong gains.
Three shares at the small cap end of the market that made a notable move higher are listed below. Here's why:
The Change Financial Ltd (ASX: CCA) share price is up 3.5% to an all-time high of $1.17. This morning the fintech company released its second-quarter update which revealed record transaction volume growth of 17%, deposit growth of 18%, and purchase growth of 16% for its consumer division quarter-on-quarter. According to the release, Change Financial now has 150,000+ direct to consumer customers using its award-winning ChimpChange Mobile Banking platform and received customer deposits of more than US$19.2 million during the December quarter. I've been very impressed with its growth, though I do have slight concerns over its cash outflows. Its cash balance was reduced to $4.8 million from $6.7 million during the latest quarter. At the current burn rate I would estimate this will be enough for three more quarters.
The Gage Roads Brewing Co Limited (ASX: GRB) share price is 4.5% higher at 9.3 cents following the release of its quarterly update. Although the company recorded an unaudited EBITDA result of $1.3 million for the first-half, down from $2.8 million for the prior corresponding period, the result was in line with expectations. This was largely due to the $0.9 million of non-recurring income in the prior corresponding period and a $1.1 million increase in sales and marketing compared to the prior period. While I'm not ready to hit the buy button, I do think Gage Roads could be one to watch. Especially if its contract with Optus stadium proves to be a success.
The Oliver's Real Food Ltd (ASX: OLI) share price jumped 15% to 26.5 cents after its quarterly update revealed cash receipts of $10.5 million and net operating cash inflow of $1.8 million for the three months ending December 31. This was a sizeable increase on the $7.7 million and $5,000, respectively, it delivered in the September quarter. In light of this much improved performance, I think the healthy fast food company is worth a closer look. And considering the ongoing consumer shift away from junk food to healthy options, I think Oliver's could have a bright future ahead of it.
