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Which ASX shares are leading the way on the ASX 300 today?

Here’s a look at the top movers on the ASX 300…
The post Which ASX shares are leading the way on the ASX 300 today? appeared first on The Motley Fool Australia. –

The S&P/ASX 300 Index (ASX: XKO) is relatively flat today as earnings season begins to wrap up for most companies.

At the time of writing, the ASX 300 is up 0.10% to 7,513 points. Still, just a smidgen off its all-time high record of 7,625 points reached in the middle of this month.

Nonetheless, let’s take a look at which ASX 300 shares are some of the biggest movers on Tuesday.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is steaming ahead despite no market sensitive news being released by the e-commerce company.

It appears investors are buoyant on Kogan shares after a broker weighed in their thoughts on the company last week.

Credit Suisse released a note on Thursday cutting its price target for Kogan by 7.6% to $14.06. Although this is a reduction, it’s worth noting the estimate implies an upside of around 20% based on today’s price.

Kogan shares are up 6.61% to $11.78 at the time of writing.

Webjet Limited (ASX: WEB)

Another mover is Webjet shares, which are advancing following a positive trading update released from the online travel agent.

The company noted that its WebBeds business returned to profitability in July, surprising the market despite current lockdowns. Furthermore, it expects WebBeds to remain profitable in the coming months.

The Webjet share price is up 3.46% to $5.69.

Appen Ltd (ASX: APX)

Following suit, Appen shares are rebounding after a heavy sell-off during the past week following its first-half results last week.

The annotated dataset provider hasn’t provided any news since then, however, JPMorgan revised its outlook on Appen shares.

The broker significantly decreased its rating by 45% to $13.50. However, at the current Appen share price of $10.41, up 3.69%, this gives an upside of about 30%.

And the biggest fallers?

Mesoblast Limited (ASX: MSB)

Heading south is the Mesoblast share price after the company released a disappointing full year result for FY21.

Mesoblast reported losses across the board despite announcing significant regulatory and clinical progress for its lead product candidate, remestemcel-L.

The Mesoblast share price is down a sizeable 10.61% to $1.77.

Mercury NZ Ltd (ASX: MCY)

Also in decline, are Mercury shares despite no news coming from the company since its full year results on 17 August.

However, the energy provider received a series of broker updates from Swiss investment bank, UBS, and Australian multinational company Macquarie.

Both agencies raised their price target by 1.4% to NZ$7.30 (A$7.03), and 1% to NZ$7.27 (A$7.00), respectively.

The Mercury share price is down 5.23% to $6.52.

The post Which ASX shares are leading the way on the ASX 300 today? appeared first on The Motley Fool Australia.

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More reading

ASX 200 midday update: Harvey Norman’s record profit, PointsBet posts large loss

Mesoblast (ASX:MSB) share price slides 10% following FY21 earnings
Webjet (ASX:WEB) share price higher on positive trading update
2 online ASX shares expecting big things

Why this leading broker sees value in the Webjet (ASX:WEB) share price

Motley Fool contributor Aaron Teboneras owns shares of Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd, Kogan.com ltd, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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