Today’s ASX top stocks: Nitro Software (NTO ↑23.7%), Firefinch (FFX ↑13.4%)

Posted: 29 April 2022 1:03 pm
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The 10 biggest movers on the ASX.

The best performing stocks on the ASX so far today were Nitro Software (NTO, up 23.7%) and Firefinch (FFX, up 13.4%).

Biggest changes on the ASX Friday 29 April 2022

Nitro Software was the stand-out mover on the ASX today. Shares in the company rose 23.7% to $1.41.

The document productivity software company has stormed up in early trading after releasing a record quarter.

On its official announcement, its 3 months of trading ending 31 March saw cash receipts of US$17 million, which was up 42% compared to the prior corresponding period. Software as a service (SaaS) subscription revenue reached 72% of total revenue versus 61% in Q1 2021.

The company said this growth was led by key customer wins and expansions. At the same time, it is highlighting strong renewals to its existing business.

Commenting on the company's Q1 2022 performance, Nitro co-founder and chief executive officer Sam Chandler said: "Nitro delivered record cash receipts from customers over the opening quarter of 2022 as the company continues to execute on its growth strategy."

Learn more about investing in Nitro Software in Finder's full guide.

Firefinch was another strong gainer during today's trading. Its shares rose 13.4% to reach $1.10.

The company announced that it was demerging from Leo Lithium. Under the terms, the demerger will see 2 independent ASX-listed companies.

The separation of Firefinch's lithium and gold projects will allow shareholders to retain exposure to the projects but in separate and focused entities.

The company notes that shareholders will have the opportunity to vote on the demerger at the general meeting on Tuesday, 31 May 2022. If the demerger proceeds, eligible Firefinch shareholders will be entitled to receive at no cost 1 share in Leo Lithium for every 1.4 existing shares held in Firefinch at the demerger record date on Monday, 6 June 2022.

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Here's a fuller list of the biggest movers on the market so far today.

StockPrice% change
Nitro Software (NTO)$1.4123.7%
Firefinch (FFX)$1.1013.4%
PointsBet Holdings (PBH)$3.0311.8%
Telix Pharmaceuticals (TLX)$4.609.0%
Red Hill Iron (RHI)$3.728.8%
BrainChip Holdings (BRN)$0.997.6%
OceanaGold Corporation (OGC)$3.427.5%
Pilbara Minerals (PLS)$2.887.1%
Aroa Biosurgery (ARX)$0.917.1%
Lithium Power International (LPI)$0.806.7%

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Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to 11am. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated by 11am on the trading day, but these prices may be subject to minor variation depending on data availability.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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