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Why Bingo, CSL, Dicker Data, & Praemium shares raced higher today

It has been a reasonably volatile day for the S&P/ASX 200 index on Thursday. In early afternoon trade the benchmark index has rebounded after sinking into the red and is trading a fraction higher at 6,545.6 points.

Four shares that are climbing more than most today are listed below. Here’s why they are racing higher:

The Bingo Industries Ltd (ASX: BIN) share price has climbed 4.5% to $2.06 despite there being no news out of the waste management company. However, with its shares down significantly in 2019, bargain hunters could be picking up shares on the cheap today. Bingo’s shares came under pressure after reporting a faster than expected softening in multi-dwelling residential construction activity across its key markets. Since then it has completed its acquisition of Dial a Dump Industries which is expected to provide it with significant diversification and growth opportunities.

The CSL Limited (ASX: CSL) share price has continued its positive run and is up 2.5% to $213.03. Earlier this week analysts at Goldman Sachs retained their buy rating and lifted the price target on the biotherapeutics company’s shares to $223.00. Goldman believes the strength the biotechnology giant is experiencing in immunoglobulins outweighs operational risks.

The Dicker Data Ltd (ASX: DDR) share price has continued its push higher and is up a further 4.5% to $5.67. Its shares have risen strongly this week following the launch of Dicker Data Financial Services. This new business has been established to address the growing demand for Device-as-a-Service solutions, Infrastructure-as-a-Service solutions, and the shift from capital expenditure to operational expenditure.

The Praemium Ltd (ASX: PPS) share price has stormed over 8.5% higher to 38 cents. The catalyst for this strong share price gain appears to be a change of director’s interest notice filed this morning. According to the notice, the investment platform provider’s CEO, Michael Ohanessian, has been buying shares on-market again. On Wednesday Mr Ohanessian snapped up 58,000 shares at an average of 35 cents per share. This was the third purchase the executive has made this month.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Praemium Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia has recommended Praemium Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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