Magnifying glass
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Hydrix Limited (ASX:HYD), a company with an $8 million market cap describing itself as “a specialist product design, engineering, and medical device distribution company” has rocketed 200% on Thursday.

Hitting 3cps, the nanocap’s catalyst for upside is its execution of a contract extension with Paul Hartmann (PH), a German-headquartered European health company offering products for both hospitals and patients.

Hydrix designs a device called ‘The Guardian’ which is implantable and is basically an add-on to a pacemaker; patients are alerted by biometric signals that a heart attack or similar event may be approaching.

Hydrix, meanwhile, inked a deal with PH to provide “product development services.”

Today’s extension with PH, meanwhile, is worth $2.8M, with all that revenue to be realised by “the end of September” this year. This adds to a “cumulative revenue from previous contract stages” worth $3.7M. Revenue, not profits.

The total contract value is $6.5M, and that’s not necessarily all going into Hydrix’s pockets.

Perhaps it’s strange, then, to observe the liquidity of turnover in Hydrix shares on Thursday. In the last four weeks, the average Hydrix shares traded per day reflects 89,400.

On Thursday at lunchtime, no less than 41.1M shares had traded hands (representing just over $1M in cash trading hands).

But with illiquidity clearly baked into this stock – just take a look at its price chart – it’s easy to ask what buyers are expecting. Or if somebody knows something good.

HYD last traded at 3cps.

Join the discussion: See what HotCopper users are saying about Hydrix Limited and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

HYD by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Index buoyed by CBA’s earnings beat | Feb 12, 2025

The ASX200 closed up 0.6% at 8,535 points.
The Market Online Video

ASX Market Open: Bourse to land flat but CBA bowling over expectations may change that | Feb 12, 2025

It’s starting to look like a flat Wednesday, with Aussie futures now pointing to a near-unnoticeable 0.
Market Update Graphic

ASX Market Update: Index leader CBA posts record result, lifts dividend | Feb 12, 2025

The ASX200 has been up 0.25% at 8,505 points.
Image of a treasure chest full of gold on an island

CRS up more than 123% on ‘encouraging’ gold find at Island Gold project

Caprice Resources Ltd has reported standout drilling results from its Island Gold project in Western Australia