ASX-listed Israeli stocks kick off the new year in style
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Nearly two-thirds of Israeli-based companies listed on the ASX have gained share price value since Christmas, Stockhead analysis reveals.
Of the 19 companies either based in Israel or with major operations in Israel, 13 have watched their share price tick up nearly 8 per cent on average in the new year.
“Many Israeli based companies have chosen to list on the ASX in order to diversify their access to capital and take advantage of the superior liquidity offered by the ASX market,” the bourse’s list says.
And though most of the companies lost share price value over the course of 2018, it’s been a positive start to 2019.
Medicinal cannabis has been the winner so far, with weed investor MMJ Group (ASX:MMJ) scrambling back up after being punished by investors when it came out of a trading halt late last year.
While cannabis stocks have offered mixed performance over the last six months, experts such as conference Canna Tech Global;s Michael Dor think the next spur for the industry will be if the WHO removes the non-psychoactive component of cannabis, cannabidiol or CBD, from the convention on narcotic drugs.
The tech sector is dominant amongst Israeli listings in Australia, and there are a few gainers amongst the crew.
Lithium-ion battery researcher UltraCharge (ASX:UTR) is up 17 per cent, followed by security tech company Dotz Nano (ASX:DTZ), up 15 per cent, and newly-listed foetal listening device maker HeraMED (ASX:HMD), up 13 per cent since listing.
Oren Elkayam, CEO of drone communications tech company Mobilicom (ASX:MOB) says progressive Israeli legislation has put small cap companies at the forefront of burgeoning industries.
“For 20 years Israel has been at the forefront of drones and robotics and working with military and government agencies,” he told Stockhead.
“There is a lot of expertise and know-how in Israel and that is now starting to translate into the commercial space. Israel is at the forefront of technology like drones.
He says that small Israeli companies look to list on the ASX because it provides them the opportunity to start growing internationally in a market not as crowded as, say, the US NASDAQ.
“Australia is attractive because of its location and burgeoning population of about 25 million people,” he says. “We can learn from the great companies that are already here, access to capital markets and use that to grow our company to a higher level.
“Israel is very small in comparison, smaller size, smaller population and so companies come here because they can cultivate and grow and be internationally-focused from early on.
“It also provides great access to the Asia Pacific, which is a big portion of our market and growth potential.
“This is the place to be for small cap companies that can grow to medium and large size companies, using the same ASX platform all the way.”
|Name||ASX code||Market cap||Last price||% change last 5 days||52Wk High||52Wk Low|
|CRESO PHARMA LTD||CPH||$60.6m||0.54||42%||1.38||0.335|
|MGC PHARMACEUTICALS LTD||MXC||$48.5m||0.042||28%||0.125||0.032|
|MMJ GROUP HOLDINGS LTD||MMJ||$54.1m||0.24||26%||0.63||0.185|
|DOTZ NANO LTD||DTZ||$15m||0.085||15%||0.245||0.055|
|DRAGONTAIL SYSTEMS LTD||DTS||$48.4m||0.195||11%||0.325||0.1|
|SKY AND SPACE GLOBAL LTD||SAS||$96m||0.052||10%||0.19||0.045|
|WEEBIT NANO LTD||WBT||$44.6m||0.027||4%||0.088||0.022|
|G MEDICAL INNOVATION HOLDING||GMV||$97.5m||0.275||4%||0.45||0.18|
|FLUENCE CORP LTD||FLC||$166.6m||0.3||3%||0.61||0.29|
|ROOTS SUSTAINABLE AGRICU-CDI||ROO||$6.4m||0.1||0||0.67||0.093|
|AUDIO PIXELS HOLDINGS LTD||AKP||$572.3m||21.5||-4%||25.4||11.1|
|SECURITY MATTERS LTD||SMX||$28.8m||0.3||-9%||0.76||0.2|