10 Premarket Movers Too Big to Ignore
24/7 Wall St. has taken a look at some stocks making the largest moves before the markets opened on Friday.
[cnxvideo id=”625483″ placement=”ros”]The broad markets have hit new highs over the past two weeks on the back of a strong earnings season. But over the past few days the markets have been relatively flat, seeming to solidify these gains that have been marked by massive moves and volatility. As a result, 24/7 Wall St. has taken a look at some stocks making the largest moves before the markets opened on Friday.
We have included a recent trading history, as well as the consensus analyst price target and some color on why each stock is making a move.
Zynga Inc. (NASDAQ: ZNGA) reported a first-quarter loss after the markets closed on Thursday, but this ended up beating estimates. The company said that it had a net loss of $0.01 and revenues of $207.4 million, versus consensus estimates from Thomson Reuters of a net loss of $0.01 per share and $190.9 million in revenue. Shares were last seen up over 11% at $3.16 in early trading indications Friday, with a consensus analyst price target of $3.32 and a 52-week trading range of $2.27 to $3.08.
[nativounit]
Universal Display Corp. (NASDAQ: OLED) released earnings after the markets closed as well. The company posted $0.22 in earnings per shares (EPS) and $55.6 million in revenue. Last year the company had $0.04 in EPS and $29.7 million in revenue. Shares were trading up nearly 16% at $104.06 in early trading indications Friday, with a consensus price target of $95.00 and a 52-week range of $47.88 to $92.30.
Zafgen Inc. (NASDAQ: ZFGN) received positive results from its first stage clinical trial of ZGN-1061. The drug candidate demonstrated rapid drug absorption and clearance in line with pre-specified criteria established for the molecule, and it was well-tolerated and safe, with no evidence of prothrombotic effects. Shares were up 11.5% at $5.43 early on Friday, with a consensus price target of $5.80 and a 52-week range of $2.89 to $7.73.
Sierra Wireless Inc. (NASDAQ: SWIR) released its earnings before the markets opened on Friday. The company said that it had $0.24 in EPS and $161.8 million in revenue, versus consensus estimates of $0.16 in EPS and $155.94 million in revenue. Shares were up 17% at $29.00 in early trading indications Friday, with a consensus price target of $24.29 and a 52-week range of $12.30 to $30.60.
Wingstop Inc. (NASDAQ WING) posted a beat on its first-quarter results Friday morning, with $0.15 per share in earnings and $25.6 million in revenue. Consensus estimates were $0.15 in EPS and $24 million in revenue. Shares were up 10% at $32.00 in early trading indications, with a consensus price target of $33.09 and a 52-week range of $24.74 to $33.42.
American Superconductor Corp. (NASDAQ: AMSC) saw its shares drop after the company announced that it could be having a secondary offering for its shares. Shares were down 17% at $4.03 early on Friday, with a consensus price target of $8.09 and a 52-week range of4.58 $ to $11.90.
Flexion Therapeutics Inc. (NASDAQ: FLXN) released its first-quarter earnings results before the markets opened on Friday. The company had a loss of $0.75 per share, which compares to the consensus estimate of a net loss of $0.73 per share. Shares closed Thursday down 2.5% at $19.43, with a consensus price target of $35.63 and a 52-week range of $8.16 to $29.41.
Brightcove Inc. (NASDAQ: BCOV) reported its most recent quarterly results late on Thursday. The company had a net loss of $0.08 per share and $37.6 million in revenue, compared with consensus estimates of a net loss of $0.04 per share and $37.4 million in revenue. Shares were trading down 26% at $6.40 in early trading indications Friday, with a consensus price target of $14.20 and a 52-week range of $5.83 to $13.80.
InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) reported a first-quarter loss after the markets closed on Thursday. The net loss was $0.21 per share, versus the consensus estimate calling for a −$0.22 per share. Shares were down 20% at $2.70 in early trading indications Friday, with a consensus price target of $16.63 and a 52-week range of $3.30 to $7.94.
Synchronoss Technologies Inc. (NASDAQ: SNCR) saw its shares jump after it was revealed that Silver Private Holdings disclosed that it took a 12.93% stake in the cloud company. Shares were trading up 19% at $18.40 in early trading indications, with a consensus analyst target of $23.57 and a 52-week range of $11.15 to $49.94.
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
