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Tag: Tesla

  • Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Major US stock indices fell 1.3-1.5% on the first day of trading in 2021.

    The broad market S&P 500 index fell 1.48% to 3700.65 points, the industrial Dow Jones Industrial Average fell 1.25% to 30223.89 points, and the technological NASDAQ dropped 1.47% 12698.45 points.
     

    Despite the general optimistic sentiment of investors regarding the recovery of the global economy after the coronavirus pandemic, the indices declined.

    At the start of the new year, investors focused on the same issue that has dominated the markets for much of 2020: the coronavirus pandemic. Many expect economic activity to accelerate later this year as communities are vaccinated, and organizations reopened. At the same time, there is an understanding that the path to economic recovery will be long and uneven.

    Recent news on the coronavirus situation paints a bleak picture. In the United States, the number of hospitalizations on Sunday reached a record high. In several countries in Europe, governments are extending quarantine restrictions designed to slow the spread of infection.

    The difficulty in dealing with the pandemic means that many companies will be vulnerable to financial risks in the short term.

    The experts noted growing nervousness over the results of the second round of elections to the U.S. Senate in Georgia. The outcome of the vote will determine whether the Republicans will retain control of the Senate. According to investors in prediction markets, the likelihood of a GOP victory has diminished in the past few days, potentially signaling a tense battle for Senate seats.

    Corporate Highlights

    Coca-Cola shares lost 3.8%. RBC Capital Markets has downgraded their rating from “above sector” to “par with the sector.” The bank’s analysts believe that the pandemic will continue to restrict public events and consumer access to restaurants, negatively affecting demand for Coca-Cola products.

    Airline stocks, which were also seriously affected by the coronavirus, also declined on Monday. In particular, American Airlines shares fell 4.1%, while Delta Air Lines shares fell 3.7%.

    Hotel chain shares were also down, with Hilton Worldwide Holdings down 3.4%, while Marriott International shed 5.4%.

    Tesla, meanwhile, gained 3.4%. The electric vehicle maker said it delivered a record 499,550 vehicles last year, just slightly below its target of 500,000.

    Amid a massive sell-off in shares, gold prices jumped 2.7% to $ 1,944.70 per troy ounce, the most significant percentage gain since April. Precious metal quotes usually receive support when market volatility increases.

    An additional source of joy in the market was the latest data on the manufacturing sector’s state. According to surveys of purchasing managers, factories in Asia and Europe increased their output at the end of the year. In December, there was a substantial rise in activity.

    Today Top Movers

    ‎Jaguar Health Inc (JAGX) share price ascended 30.90% to $2.33 during early morning ‎trading session on Tuesday.‎ ‎

    Zosano Pharma Corp (ZSAN), a Biotechnology company, increased about 78.60% ‎at ‎‎$1.04 in pre-market trading Tuesday after declaring that the company requested a Type A meeting with the U.S. Food and Drug Administration (FDA) to review resubmission plans for Qtrypta new drug application. ‎

    Naked Brand Group Ltd (NAKD) stock surged 14.83% at $0.25 in the pre-market trading today.

    Broadway Fin Cp (BYFC) jumped over 46.88% at $2.82 in pre-market ‎trading on Tuesday after the company and CFBanc Corporation revealed receipt of regulatory approvals for the merger.

    Top Upgrades & Downgrades


    Needham turned bullish on Merit Medical Systems Inc. (MMSI), upgrading the stock to “Buy” and assigning a $65.0 price target, representing potential upside of 18.69% from Monday’s close.
     

    DocuSign Inc. (DOCU) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $300.
     

    Cadence Design Systems Inc. (CDNS) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $155.0. They changed their rating on CDNS to Overweight from Sector Weight in a recently issued research note.
     

    Earlier Sunday Piper Sandler reduced its rating on Fortinet Inc. (FTNT) stock to Neutral from Overweight.
     

    Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Rapid7 Inc. (RPD) has been changed to Neutral from Overweight and the new price target is set at $95.
     

    Analysts at Piper Sandler downgraded Okta Inc. (OKTA)’s stock to Neutral from Overweight on Tuesday.

    Latest Insider Activity

    ReneSola Ltd (SOL) CFO SHAH CAPITAL MANAGEMENT announced the sale of shares taking place on Dec 31 at $11.90 for some 26,000 shares. The total came to more than $0.31 million.
     

    ACM Research Inc. (ACMR) Wang Jian sold on Dec 30 a total 84,386 shares at $78.00 on average. The insider’s sale generated proceeds of almost $2.53 million.
     

    Hall of Fame Resort & Entertainment Company (HOFV) Director Lichter Stuart declared the purchase of shares taking place on Dec 29 at $1.40 for some 10,813,774 shares. The transaction amount was around $15.14 million.
     

    Beyond Air Inc. (XAIR) CEO, Chairman Lisi Steven A. bought on Dec 31 a total 929 shares at $5.28 on average. The purchase cost the insider an estimated $203,280.

    Important Earnings

    Top US earnings releases scheduled for today include Cal-Maine Foods Inc. (NASDAQ:CALM). It will announce its Nov 2020 financial results. The company is expected to report earnings of -$0.08 per share from revenues of $333.49M in the three-month period.

  • Auto Stocks to watch on Tuesday: Baidu is All Set to Jump in EV

    Auto Stocks to watch on Tuesday: Baidu is All Set to Jump in EV

    China’s BaiduInc is exploring producing its own electric vehicles and has held talks with automakers about the prospect, said 3 persons with knowledge of the case, the latest step in a battle between tech firms to build smart cars.

    China’s leading search engine, which also advances automated driving technologies and internet communication networks, explores contract production, one of the people said or creating a majority-owned venture with automakers.

    The project will move up from internet peers such as Tencent Holdings Ltd, Amazon.com Inc and Alphabet Inc, which have either developed auto-related technologies or invested in smart-car start-ups.

    NIO Limited (NYSE:NIO) shares were trading down -2.38% at $40.98 at the time of writing on Monday after reporting the pricing of the offering of 68,000,000 American depositary shares, each representing one Class A ordinary share of the Company, at a price of US$39.00 per ADS.

    NIO Limited (NYSE:NIO) share price went from a low point around $2.11 to briefly over $57.20 in past 52 weeks, though shares have since pulled back to $40.98. NIO market cap has remained high, hitting $60.13B at the time of writing, giving it price-to-sales ratio of more than 30.

    If we look at the recent analyst rating NIO, Goldman upgraded coverage on NIO shares with a Neutral rating and a $37.72 price target, which implies room for -3.26% downside momentum this year.

    Ford Motor Company (F) last closed at $8.91, in a 52-week range of $3.96 to $9.57. Analysts have a consensus price target of $8.94.

    Tesla Inc. (TSLA) stock soar by 4.89% to $639.83. The most recent rating by Jefferies, on December 11, 2020, is at a Hold.

    XPeng Inc. (NYSE:XPEV) Shares headed rising, higher as much as 6.45% following the declaration from the firm that that its P7 super-long range sports sedan was named the Car of the Year 2021 by the Xuanyuan Awards, China’s most prestigious badge of auto quality and innovation. The most recent rating by Deutsche Bank, on December 14, 2020, is at a Buy.

    Nikola Corporation (NASDAQ:NKLA) fall -6.87% after losing more than -$1.21 on Monday. The company on November 30, 2020 reported the signing of a non-binding Memorandum of Understanding (“MOU”) with General Motors for a global supply agreement related to the integration of GM’s Hydrotec fuel-cell system into Nikola’s commercial semi-trucks.

    Fisker Inc. (FSR) last closed at $15.59, in a 52-week range of $8.70 to $23.63 after declaring that it has signed agreements with Cox Automotive U.K. and Rivus Fleet Solutions to provide a range of after-sales services for the U.K. market. Analysts have a consensus price target of $24.00.

    Li Auto Inc. (LI) stock drop by -0.10% to $31.33. The most recent rating by Citigroup, on November 16, 2020, is at a Buy. On December 4, 2020, the company announced the pricing of follow-on public offering of American Depositary Shares.

    Kandi Technologies Group Inc. (NASDAQ:KNDI) Shares headed falling, lower as much as -7.67%.

    General Motors Company (NYSE:GM) fall -0.72% after losing more than -$0.3 on Monday. On November 30, 2020, the firm revealed it has signed a non-binding memorandum of understanding with Nikola Corporation for a global supply agreement to provide its Hydrotec fuel cell system for Nikola’s Class 7/8 semi-trucks.

    Workhorse Group Inc. (WKHS) last closed at $21.39, in a 52-week range of $1.32 to $30.99. Analysts have a consensus price target of $26.80.

    Electrameccanica Vehicles Corp. (SOLO) stock drop by -2.02% to $6.31. The most recent rating by ROTH Capital, on July 09, 2019, is at a Buy.

    Lordstown Motors Corp. (NASDAQ:RIDE) Shares headed falling, lower as much as -2.96%. The company on December 5, 2020 reported that the United States Securities and Exchange Commission has declared Lordstown’s registration statement on Form S-1 (File No. 333-250045). The most recent rating by Goldman, on December 11, 2020, is at a Buy.

    Fiat Chrysler Automobiles N.V. (NYSE:FCAU) rose 0.84% after gaining more than $0.14 on Monday. Alfa Romeo Announces 4C Spider 33 Stradale Tributo.

    Ayro Inc. (AYRO) last closed at $5.52, in a 52-week range of $1.80 to $10.60. On November 24, 2020, the company reported the Closing of $10.0 million registered direct offering.

    Niu Technologies (NIU) stock drop by -2.50% to $28.43. The most recent rating by Citigroup, on November 06, 2020, is at a Buy.

  • Early Morning Vibes: 3 Best Performing Stocks Under

    Early Morning Vibes: 3 Best Performing Stocks Under $3

    On December 8, American stock exchanges closed at historic highs. The S&P 500 Index climbed 0.28% to 3702 points, the Dow Jones added 0.35%, the NASDAQ rose 0.5%. The purchases spurred hope for fiscal stimulus, as well as the start of the UK vaccine distribution. The health and energy sectors were the top gains, rising 0.73% and 1.57%, respectively. The real estate segment turned out to be an outsider, losing 0.5%.

    Corporate news

    Tesla (TSLA: + 1.3%) announced a $ 5 billion additional share issue.

    Productivity software maker Smartsheet (SMAR: + 11%) reported strong quarterly results and improved management forecasts.

    Apparel retailer Stitch Fix (SFIX: + 39%) posted a good quarterly report, with a pleasant surprise for investors the company’s profit at a consensus loss.

    Today, world stock markets are showing mostly positive dynamics. The likelihood of accepting an economic aid package is increasing. The day before, Treasury Secretary Stephen Mnuchin presented House Speaker Nancy Pelosi a $ 916 billion economic support bill. Unlike the bipartisan stimulus package last week, the bill provides for a one-time payment of $ 600 to each citizen instead of $ 300 weekly in addition to the unemployment. Republican leaders have already expressed support for Mnuchin’s bill. We believe that the congressmen have not yet been so close to a compromise in the past few months, and this is encouraging.

    Another supportive factor was a report released by the FDA that the Pfizer / BioNTech anticancer vaccine is completely safe and highly effective. The probability of its approval on December 10 is close to 100%, and on the 11th, the distribution of the drug in the United States may begin. We estimate the risk that the pharmaceutical giant will face difficulties in mass production of the vaccine as minimal, although not zero.

    Today Top Movers Under $3

    Cinedigm Corp (CIDM) is up 50.35% at $1.30 in early morning on Wednesday after

    Spherex revealed a strategic alliance with Cinedigm (NASDAQ: CIDM) to drive Cinedigm’s global growth.

    Usio Inc (USIO) is up 38.80% in Wednesday’s premarket session after reporting that it has entered into a non-binding Letter of Intent (LOI) to acquire the assets of Information Management Solutions, LLC (IMS).

    Recon Technology Ltd (RCON) was taking the aerial route in the after-market session as it surged 95.8% to $2.82, after a China-based independent solutions integrator in the oilfield service and environmental protection, electric power, and coal chemical industries, today announced its financial results for the fiscal year 2020.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Array Technologies Inc. (ARRY), upgrading the stock to “Overweight” and assigning a $41.0 price target.

    Community Trust Bancorp Inc. (CTBI) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight.

    Earlier Wednesday JP Morgan reduced its rating on Bloom Energy Corporation (BE) stock to Neutral from Overweight and assigned the price target to $26.0. With shares trading at around $30.59, the Wall Street firm thinks Bloom Energy Corporation’s stock could decline more than -62.5%.

    DZ Bank analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American Express Company (AXP) has been changed to Hold from Buy and the new price target is set at $128.0.

    Analysts at KeyBanc downgraded Talos Energy Inc. (TALO)‘s stock to Sector Weight from Overweight Wednesday.

    Latest Insider Activity

    Freeport-McMoRan Inc. (FCX) Vice Chairman, President & CEO ADKERSON RICHARD C announced the sale of shares taking place on Dec 04 at $25.17 for some 467,887 shares. The total came to more than $11.78 million.

    Discovery Inc. (DISCA) Director LOWE KENNETH W sold on Dec 04 a total 1,202,403 shares at $25.22 on average. The insider’s sale generated proceeds of almost $2.32 million.

    Regulus Therapeutics Inc. (RGLS) 10% Owner Sonsini Peter W. declared the purchase of shares taking place on Dec 04 at $0.62 for some 4,398,602 shares. The transaction amount was around $2.74 million.

    Hepion Pharmaceuticals Inc. (HEPA) CEO and Director Foster Robert T bought on Dec 08 a total 25,259 shares at $1.58 on average. The purchase cost the insider an estimated $39,418.

    Earnings To Watch Today

    Top US earnings releases scheduled for today include Asana Inc. (NYSE:ASAN). It will announce its Oct 2020 financial results. The company is expected to report earnings of -$0.37 per share from revenues of $54.14M in the three-month period.

    Analysts expect Mesa Air Group Inc. (NASDAQ:MESA) to report a net income (adjusted) of -$0.02 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $92.95M.

    Adobe Inc. (ADBE), due to announce earnings after the market closes today, is expected to report earnings of $2.66 per share from revenues of $3.36B recently concluded three-month period.

  • Tesla Inc (TSLA) stock slid after disclosure of a billion capital raise

    Tesla Inc (TSLA) stock slid after disclosure of a $5 billion capital raise

    Tesla Inc (TSLA) shares slipped -1.14% to $634.4 in the pre-market session on Tuesday after Tesla Inc announced a $5 billion capital raise, the second such move in 3 months period this year’s as the giant electric car manufacturer is cashing in on a sudden and dramatic surge in its shares.

    On Monday, the company’s stock hit a record peak, raising the market capitalization of Tesla beyond $600 billion and further solidifying its status as the world’s most successful automotive company amid demand that is a fraction of rivals such as Toyota Motor, Volkswagen, and General Motors.

    The firm has plans to launch new product lines, including the Tesla Semi and its revolutionary Cybertruck, a semi-truck.

    Many analysts think that the stock of Tesla is in a bubble, and some have cautioned at current prices against introducing it to the S&P 500.

  • Is NIO Limited (NYSE: NIO) A Good Option Right Now?

    Is NIO Limited (NYSE: NIO) A Good Option Right Now?

    Shares of NIO Limited (NYSE: NIO) traded down 1.49% as it lost -0.41 during the trading session of Tuesday. NIO stock hit an all-time high in 2020. The reason behind this strong performance is the increasing sales of NIO, the higher quality of its products, and its results which surpassed the expectations.

    The Chinese auto manufacturer has delivered 4,708 vehicles in September and its deliveries jumped to a record high in the third quarter, reached 12,206. In the first nine months of 2020, its deliveries doubled to 26,375. NIO Limited has gained a competitive edge by providing the customers an opportunity to change diminished batteries for new fully-charged ones at 143 automated battery swapping stations located in 64 cities.

    This battery service opportunity helps the drivers in saving time because battering swapping is the same as filling the gas tank of conventional gasoline or diesel-powered car.

    Furthermore, the results of NIO in every quarter were very promising and providing good opportunities to the investors. NIO has shared that its Q2 revenue reached 3.72 billion which is more than expectations. It has reported a loss of 1.08 yuan per American depository share (ADS).

    One more thing which excited the stocks of NIO is its high-quality vehicles. NIO is involved in the manufacturing of high-quality vehicles that are beating Tesla. NIO has been ranked highest among all brands in the battery vehicle segment. It also surpassed others in its design and manufacturing ability.

    NIO Limited (NYSE: NIO) shares were trading down 1.49% at $27.22 at the time of writing on Tuesday. NIO Limited (NYSE: NIO) share price went from a low point around $1.36 to briefly over $29.40 in the past 52 weeks, though shares have since pulled back to $27.22. NIO market cap has remained high, hitting $37.10 billion at the time of writing.

    JP Morgan has recently set a new target for NIO stock. JP has set the $40 price target for NIO Limited. NIO is not the only electric car manufacturer in China but there are other competitors including Tesla. But if it continues to increase its manufacturing capabilities, it will lead the market.

  • Pre Market Report: Stock Watch Ahead Of U.S Markets Opening

    Pre Market Report: Stock Watch Ahead Of U.S Markets Opening

    U.S markets are showing signs of a rebound after a weak showing in Monday’s session. Nonetheless, market sentiment remains mixed. On the downside, there are fears that the economy could be headed for another shutdown as the coronavirus numbers continue to rise. States like California are slowing down on reopening to curtail the virus spread. There are also concerns about equities being overpriced. Most companies have taken a hit in their revenues, yet the stock market has rallied back to pre-crisis levels. This indicates a disconnect between stock market valuations and corporate performance. On the positive side, the U.S government appears ready to keep supporting the economy. Today, The New York Times has reported that the Trump administration is calling for a payroll tax cut, relief for distressed industries, and a tax holiday on capital gains. The New York Times further states that the next stimulus could be between $1 trillion to $3 trillion. While this adds to the already ballooning deficit, it offers critical support to the economy, and more specifically the equity markets.  In spite of the mixed outlook, there are stocks that are on a roll pre-market and could perform well in the day. Some of them are as below.

    Tesla [NASDAQ: TLSA]

    Tesla continues its stellar performance and is up by over 6% pre-market. The stock has been on an exponential growth path driven by its sales numbers, and a growing appetite for stocks in the market. Tesla recently announced that in Q2, it had delivered 90,650 units, beating its estimates of 74,130 units.  Some analysts believe that this points to growing demand for the company’s vehicles, which is playing to support its stock price. A JP Morgan recently stated that Tesla was now set to break even on GAAP in Q2, a factor that is changing the market’s risk evaluation of the stock. With such optimism at play, TLSA could continue its rally if the market opens in positive territory.

    INmune Bio Inc [NASDAQ: INMB]

    INmune Bio is another big mover pre-market and is up by 142.82% at the time of writing. The rally comes hours after the company released interim data showing that its treatment called XPro1595 reduces neuroinflammation in people suffering from Alzheimer’s disease. XPro1595 is an inhibitor for tumor necrosis factor that neutralizes soluble TNF, and with implications on the pathology of Alzheimer’s. Commenting on the results, the company’s director of neuroscience, CJ Barnum stated that they were happy with the findings. The response the stock has received pre-market shows that investors are optimistic that this could be a major breakthrough not just for Alzheimer’s patients, but also for the company’s bottom-line.

    ElectroCore Inc [NADAQ: ECOR]

    ElectroCore was a top gainer in yesterday’s session and closed with gains of 109.41%. The stock seems poised to continue this rally and is up by 6% in pre-market trading. The upside momentum is driven by the company’s announcement that it had received emergency use authorization from the FDA for its COVID-19 treatment.  The company stated that it was now working on making its new therapy available to medics treating COVID-19 patients that have asthma and other breathing difficulties,