Why Data#3, NRW, Redbubble, & Western Areas shares are storming higher

These ASX shares are on form on Thursday…

| More on:
stock market gaining

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form again and tumbling lower. At the time of writing, the benchmark index is down 0.6% to 7,455 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are storming higher:

Data#3 Limited (ASX: DTL)

The Data#3 share price is jumping 13% to $5.51. This follows the release of the IT solutions company's full year results this morning. For the 12 months ended 30 June, Data#3 reported a 20.3% increase in revenue to $1.96 billion and a 7.5% lift in net profit after tax to $25.4 million. The company also revealed a significant backlog of orders that could not be delivered or invoiced by the end of the year.

NRW Holdings Limited (ASX: NWH)

The NRW share price is surging 16% higher to $1.92. Investors have been buying the contractor's shares following the release of a solid FY 2021 result. NRW reported an 11.5% increase in revenue to $2.3 billion and a 6.7% lift in EBITDA to $266.7 million. Positively, management is forecasting further growth in FY 2022.

Redbubble Ltd (ASX: RBL)

The Redbubble share price is up 13% to $3.46. Investors have been buying the ecommerce company's shares after it reported a 58% increase revenue to $553 million. Together with operating leverage, this led to Redbubble swinging from a loss of $9 million in FY 2020 to a profit of $31 million in FY 2021.

Western Areas Ltd (ASX: WSA)

The Western Areas share price is jumping 14% to $2.82. The catalyst for this was the nickel producer revealing that it is in takeover talks with IGO Ltd (ASX: IGO). However, the company acknowledges that discussions are at a preliminary stage. As such, there can be no assurance whether a takeover offer will be made. It also warned that there are no assurances on what the terms and conditions of any such offer might be.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 made it three-for-three losses in a row this Wednesday.

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Brickworks, James Hardie, Megaport, and OFX shares are charging higher today

These shares are having a good time on hump day. But why?

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured another day of selling this Tuesday.

Read more »

Man pointing at a blue rising share price graph.
Technology Shares

Guess which ASX 300 tech stock is already up 64% in November!

The ASX 300 tech stock is surging higher this month. But why?

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ANZ, Block, Neuren, and Pilbara Minerals shares are pushing higher today

These shares are having a solid session on Tuesday. But why? Let's find out.

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

4 ASX All Ords shares rocketing over 10% today

These shares started the week with a bang. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Mergers & Acquisitions

Guess which ASX stock just rocketed 40% on takeover news

A colossal company finds value in the small end of our ASX town.

Read more »

Happy diverse colleagues or team of people give high five together to celebrate great teamwork and results.
Share Gainers

Why Black Cat, Dicker Data, Novonix, and Pointsbet shares are racing higher

These shares are starting the week with a bang. But why?

Read more »