TipRanks has compiled a list of Wednesday’s biggest pre-market stock movements.
Mixed market sentiment seems to be driven by macro factors and other variables. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
China-based Dada Nexus Limited (DADA) was the biggest laggard in pre-market trading, recording losses of 8.6% at the last check. The platform of local on-demand retail and delivery surged 8.64% at yesterday’s close. There is no company-specific news explaining the trading frenzy.
China Life Insurance Company Limited (LFC) lost 7.46% in pre-market trading at the time of writing. It was recently disclosed that the Chinese insurance company recorded significant growth in short interest in the month of June. Yet, no fundamental news has been released to explain the downtrend.
SM Energy Company (SM) gained 7.38% in pre-market trading at the time of writing, after recording losses of 8.1% at Tuesday’s close. Recently, RBC Capital analyst Scott Hanold maintained a Hold rating on the stock but lifted the price target to $55 from $52.
Brookfield Renewable Partners L.P. (BEP) surged 6.65% in pre-market trading at last glance. Hedge fund AE Wealth Management LLC decreased its stake in the company by 20% in the first quarter. It was disclosed that the firm sold 9,026 shares of the company’s stock and now owns 36,056 shares worth $1.48 million.
Sabre Corporation (SABR), a provider of technology solutions to the global travel and tourism industry, completes the list. It rose 5.5% in pre-market trading at last glance, after gaining around 4% at the close on Tuesday. Per the most recent SEC filing, institutional investor Retirement Systems of Alabama raised its stake in Sabre and now owns 1.05 million shares of the company’s stock worth $1.99 million at the end of the first quarter. Additionally, Bank of America Securities analyst Victor Cheng recently upgraded Sabre to a Buy rating from a Sell with a price target of $10.
Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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