Best Performing ASX Stocks in the Last Month (Small-Caps)
Here are the top four best performing ASX stocks in the last month through to today:
Today, we look at what drove the share prices of these ASX-listed small-caps up.
Novita Healthcare Ltd [ASX:NHL]
Novita, which markets its TALi TRAIN and TALi DETECT products, is aiming to drive digital interventions for inattention.
An announcement on 24 October sent it skyrocketing.
The announcement detailed that patients in the US can now get reimbursement for TALi Detect screenings.
This was significant because the addressable market in the US is believed to be 8–10 million children.
Their quarterly on 31 October revealed they had cash and cash equivalents of $1.45 million to grow the business.
Children are increasingly glued to screens these days, so it makes sense to derive some health benefit from the screen as well.
If Novita’s products get purchase in the lucrative US healthcare market, it could take off.
Magmatic Resources Ltd [ASX:MAG]
Magmatic’s rise was kicked off by an announcement that, ‘The Board of Magmatic intend to develop a new exploration plan to re-focus all of the Company’s efforts on its East Lachlan Projects.’
This was driven by investor feedback based on the success of Alkane Resources Limited [ASX:ALK] at the nearby Boda project.
Adding further fuel to the rise was that Japan Oil and Gas Metals National Corporation (JOGMEC) has pulled out of the JV after $2.7 million spent on the Parkes Project.
Magmatic now owns 100% of the project.
CCP Technologies Ltd [ASX:CT1]
There were a few things that happened with CCP over October.
It started with an annual report which detailed revenue of $578,990, a new CEO working for nil pay and, ‘unprecedented enquiries from the US now that … have simplified and opened up [the] business model.’
Then there was the announcement of a non-renounceable rights issue to raise up to $3.4 million before costs.
Today they announced that, ‘In October 2019 to date, the cash received is already in excess of $70,000, compared with $109,000 received for the entire September 2019 quarter.’
The company does IoT (Internet of Things) monitoring devices and associated software.
It’s a bit of a strange one CCP, but if they can continue to grow receipts their technology could prove valuable to a range of industries.
Oncosil Medical Ltd [ASX:OSL]
After seeing its share price get hammered in March, Oncosil may be on the path to recovery after a strong month, up 112%.
The medical device company announced on 11 October a positive meeting with the British Standards Institute and the Clinical Oversight Committee.
Then on 18 October they announced that they had received a $3.8 million R&D tax incentive refund and revealed they had a cash balance of around $8.5 million.
Today, it revealed that it received a positive CE Mark Status report and is now in the final phase of the review.
Their OncosilTM product, which is a brachytherapy device, could prove lucrative should they get the relevant clearances.
For Money Morning