Shares of Aroura Cannabis (ACB), US Silica Holdings Inc (SLCA), FLIR Systems Inc (FLIR) were among top moving stocks on the first trading day in the year 2021. We have highlighted some of the reasons for their either upward or downward movements to aid your investing decisions.
Aroura Cannabis (ACB)
Shares of several cannabis companies are trading higher as investors await Tuesday’s Senate runoff races in Georgia. A democratic victory is seen as favourable for the cannabis sector. ACB grew 14.56% on the day with its starting price at $8.42 to close at $9.52
US Silica Holdings Inc (SLCA)
Shares of US Silica rose more than 27% after Evercore ISI group upgraded the stock from In-line to Outperform. It began trading at $7.61 to close at $8.97 on Monday. About 8.08 million shares traded hands on 35,332 trades for the day, compared with an average daily volume of n/a shares out of a total float of 73.95 million. After opening the trading day at $7.61, shares of U.S. Silica Holdings Inc. stayed within a range of $9.11 to $7.53.
U.S. Silica is one of the leading suppliers of sand used in hydraulic fracturing of oil and gas wells. The company delivers sand in most major basins via its extensive logistics network and has an emerging last-mile logistics capability to deliver sand direct to the well site.
FLIR Systems Inc (FLIR)
Stocks of Flir traded higher after the company announced it will be acquired by Teledyne for $8 billion in cash and stock. The company’s shares jumped 19.19% from its previous day closing price at $43.83 to open Monday at $53.03. The share close at $52.24
Flir is the world leader in the design, manufacture, and marketing of thermal imaging infrared cameras.
Magnite Inc (MGNI)
Shares of Magnite dropped 10.09% with its price sliding from 30.71 to to close at $27.61 on the trading day. Meanwhile, Shares of several consumer discretionary companies are traded lower amid rising US Covid-19 cases and a slower than expected vaccine rollout. Investors may also be taking profits following a strong 202 rallies in equities.
Ontrac Inc (OTRK)
Share of Ontrak traded higher making an upward movement of 4.16%. It opened trading at $63.20 and closed the day at $64.36, recovering from the previous day’s closing at $61.67.
According to an analysis on Simplywallst, the company’s insider trading has increased with the President & COO Curtis Medeiros making the biggest insider purchase in the last 12 months. That single transaction was for US$200k worth of shares at a price of US$9.64 each. There were more insider purchases and they didn’t sell. What this means is that insiders believe that the stock has some merit and this is an indication that the price may increase some time soon.