Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Wednesday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Precious metals mining company Sibanye Stillwater Ltd. (NYSE: SBSW) tops the list, with its stock losing 8.8% in Wednesday’s early trade. A recent SEC filing revealed that in the first quarter of 2022, Massachusetts-based Commonwealth Equity Services reduced its stake in the South African company by 13%. After selling 10,391 shares, Commonwealth Equity now holds 69,325 shares of Sibanye worth $1.125 million.
Shares of renewable energy storage products and services provider Fluence Energy Inc. (NASDAQ: FLNC) jumped 8.3% at the last check. Jon Windham of UBS (NYSE: UBS) has raised the price target on the Virginia-based company to $30 (73.2% upside potential) from $10, which could have led to the rise in the price. Meanwhile, Windham has maintained a Buy rating on the stock.
Next on the list is Illinois-based outdoor cooking products maker Weber Inc. (NYSE: WEBR), which was trading over 8% down at the time of writing. The fall could be on the back of analysts downgrading their rating and price target on the stock, following the release of the company’s fiscal third-quarter results on Monday. Citigroup (NYSE: C) analyst Chasen Bender has downgraded Weber to Sell from Hold and lowered the price target from $7 to $2.75 (67.5% downside potential). Additionally, Simeon Siegel of BMO Capital reduced his price target to $6 (29.2% downside potential) from $7, while reiterating a Hold rating on the stock.
Sasol Ltd. (NYSE: SSL) stock slipped 6.8% in the pre-market trading session on Wednesday. There is no company-specific news that can explain the downtrend. The South Africa-based integrated energy and chemical company is scheduled to release its fiscal fourth-quarter results next week.
Finally, California-based Agilent Technologies Inc. (NYSE: A) rose 6.2% early Wednesday after gaining 6.6% in the extended trading session on Tuesday. Shares of the analytical instrumentation development and manufacturing company surged on the back of strong fiscal third-quarter results. Revenue increased 8% year-over-year to $1.72 billion, surpassing the Street’s expectation of $1.64 billion. Earnings of $1.34 per share came in higher than the year-ago figure of $1.10 and the consensus estimate of $1.20 per share.
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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