Why Audinate, Lynas, Nine, and Xref shares are falling today

These shares are heading lower as the market climbs on Tuesday. But why?

| More on:
Lines of codes and graphs in the background with woman looking at laptop trying to understand the data.

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

The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday. In afternoon trade, the benchmark index is up almost 0.5% to 8,419.2 points

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

Audinate Group Ltd (ASX: AD8)

The Audinate share price is down almost 3% to $7.12. This morning, analysts at Morgan Stanley retained their buy rating on the audio technology company's shares. However, they have slashed the price target on them by 14% to $9.00 (from $10.50). Morgan Stanley notes that there are concerns that Audinate is facing structural headwinds. While it appears optimistic that the headwinds are cyclical and not structural, it is looking for more colour when the company releases its results later this month.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas Rare Earths share price is down 3% to $6.38. This is despite there being no news out of the rare earths producer on Tuesday. Though, it is worth remembering that its shares did avoid the market selloff on Monday and charged higher. This could mean that some profit taking is happening today. Yesterday's gain appeared to have been driven by news that Gina Rinehart's Hancock Prospecting has increased its stake in the company to 8.21% from 7.14%.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The Nine Entertainment share price is down almost 2% to $1.29. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has downgraded the media company's shares to a neutral rating with a trimmed price target of $1.45 (from $1.65). UBS made the move amid concerns over increasing content costs and a challenging advertising market. Nevertheless, this price target still implies relatively decent upside potential of 12% over the next 12 months.

Xref Ltd (ASX: XF1)

The Xref share price is down over 19% to 12.5 cents. Investors have been selling this human resources technology company's shares after its shareholders voted against being taken over by Seek Ltd (ASX: SEK). The job listings giant commented: "Despite a unanimous recommendation from Xref's Board of Directors and the Independent Expert concluding that the Scheme is fair and reasonable, and in the best interests of Xref shareholders in the absence of a superior proposal, 67.60% of votes cast were cast in favour of the Scheme, falling short of the required threshold of 75%." The two parties have now agreed to terminate the transaction.

Should you invest $1,000 in Audinate Group Limited right now?

Before you buy Audinate Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Audinate Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has positions in Seek. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Audinate Group and Xref. The Motley Fool Australia has positions in and has recommended Audinate Group. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Happy man working on his laptop.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

Two funeral workers with a laptop surrounded by cofins.
Broker Notes

Macquarie just forecast this ASX 300 dividend share could surge 37%. Here's why

Atop its passive income payouts, Macquarie expects this ASX dividend stock could leap 37% in a year.

Read more »

A person in a gorilla suit leaps really high holding a banana, nearly doing the splits.
Share Gainers

Up 1,238% in a year, why is this ASX gold stock surging again on Monday?

The ASX gold stock is now well into ten-bagger range and still rising fast today.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why EOS, Gorilla Gold, Lendlease, and OFX shares are charging higher today

These shares are starting the week on a positive note. But why?

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Appen, DroneShield, Gentrack, and New Hope shares are dropping today

These shares are starting the week in the red. But why?

Read more »

An unhappy man in a suit sits at his desk with his arms crossed staring at his laptop screen as the PointsBet share price falls
Materials Shares

Does Macquarie rate James Hardie shares a buy, hold or sell?

The company is set to report FY25 earnings this week.

Read more »

A man looking at his laptop and thinking.
Industrials Shares

Which ASX 200 industrials stock does Macquarie expect to sink 40% over the next 12 months?

Can this name build it's way out of such negative sentiment?

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Share Market News

Will ASX 200 investors get the RBA interest rate cut they're expecting tomorrow?

The RBA is widely expected to cut interest rates on Tuesday. Will the central bank deliver?

Read more »