Under $10, Over the Moon: Stocks to Grab This Noon!

Stocks declined on Tuesday as oil prices surged to their highest levels in 2023, triggering concerns about a potential slowdown in the global economy.

Apple's shares also experienced a downturn ahead of the highly anticipated unveiling of a new iPhone model later in the day, with the stock trading down by 1%.

The price of U.S. crude oil reached its highest point since November of the previous year. This increase was propelled by OPEC's maintenance of a robust demand growth forecast for this year and the next. West Texas Intermediate crude oil futures surged to nearly $89 per barrel, a significant rise from the approximately $66 per barrel seen back in March.

Investor attention remains fixated on critical inflation data expected later in the week. The consumer price index is set to be released on Wednesday, followed by the producer price index on Thursday. These reports will provide crucial insights into inflation trends and their potential impact on economic conditions.

At 11:34 AM ET, the Dow was up 19.0508 points, or 0.055%, at $34682.77. The Nasdaq Composite lost -111.3418 points, or -0.7201%, at $15350.523. The S&P 500 declined -15.3799 points, or -0.3427%, at $4472.08. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Energy leading the way with a 0.99% increase.

Top Movers: Under $10

Tenon Medical Inc. (TNON) is up 43.12% today to trade at the current level of $0.21. This comes after the company announced that it has withdrawn its proposed public offering of shares of its common stock.

Avalo Therapeutics Inc. (AVTX) zoomed 38.63% in today’s trade to $0.12. This rally can be attributed to news that the company entered into a purchase agreement with AUG Therapeutics, LLC (AUG) to sell its rights, title and interest in, assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) (collectively, the 800 Series).

In current trading, Cognyte Software Ltd. (CGNT) stock is at $5.51 following the release of second quarter fiscal 2024 results.

Xos Inc. (XOS) rose 8.42% in the early hours of today's trading to move at $0.34 after announcing that it has been contracted as a vendor by the State of California.

In the current trading session, The Beauty Health Company (SKIN) jumped 24.68% to $6.82 over a previous close of $5.47. The company announced the launch of a business transformation program to drive profitable growth by reducing operating costs and streamlining its operations.

Ex-Dividends Stocks

The Aaron's Company Inc. (AAN) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.13 per share. The company has fixed September 14 as the record date for the same and will pay the actual dividend on October 04. Last year, the company distributed a total of $0.50 to its shareholders. Based on the last year's worth of payments, AAN has a trailing yield of 4.97% on the current stock price of $10.06.

Another stock that is shelling out dividends tomorrow is Medical Properties Trust Inc. (MPW), having a market capitalization of $3.93B. It will pay a dividend of $0.15 per share, the payment date of which is October 12. Currently, the stock is trading at a trailing dividend yield of 9.27%.

Shares of Camping World Holdings Inc. (CWH) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.13 per share, and in the last 12 months, the company paid a total of $2.00 per share. Last year's total dividend payments show that CWH has a trailing yield of 9.00% on the current share price of $22.21.

First Financial Bankshares Inc. (FFIN) is also set to go ex-dividend tomorrow. The next dividend payment from FFIN will amount to $0.18 per share. September 14 has been designated as the record date for this dividend, with the actual payout scheduled for October 02. In the previous year, FFIN distributed a total of $0.72 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for FFIN stands at 2.66% based on the current stock price of $27.07.

AMETEK Inc. (AME) will be paying out a dividend of $0.25 per share to shareholders holding their shares as of the close of the business hours on the record date of September 14. Over the past 12 months, AME has paid out a total of $1.00 per share in dividends. Based on the total dividends paid out last year, AME boasts an impressive trailing yield of 0.65% on the current share price of $153.61.

Crypto Market Highlights

Most Shorted Stocks

Cipher Mining Inc. (CIFR) was one of the most shorted stocks as of latest short interest figures, with 26.80% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 7.1. This represents a change of 1030000 shares, which corresponds to a +10.14% increase in short interest. The total value of the shares held short is estimated to be around $31.33 million. The average daily volume stands at 1.72M shares, and the market capitalization of the company is $707.34M.

The Cutera Inc. with the symbol CUTR currently has a short interest of 24.92%. The short interest has changed by 350000 shares. The days to cover ratio stands at 6.4. The estimated value of the shares held short is approximately $48.21 million. On an average day, 798.83K shares are traded, with the company's market capitalization totaling $195.36M.

For the stock Sana Biotechnology Inc. (SANA), the current short interest is at 26.58%. This represents a significant short interest change of -200000 shares, corresponding to a short interest percentage decrease of -0.85%. The days needed to cover the short positions amount to 21.2. The approximate worth of the shares held short is $128.79 million.

The stock VERV has a current short interest of 26.44%. The short interest percentage has experienced increase of +4.49% while there was a change of 480000 shares in short interest. The ratio indicating the time required to cover short positions is 17.9. The calculated worth of the shorted shares amounts to around $125.66 million. Trading activity averages at 650.84K shares per day, while the company's market capitalization stands at $839.78M.

EV Stocks to Watch

According to our ST Score evaluation, Baidu Inc. (BIDU) emerges as a high-quality stock in the EV industry, attaining an impressive score of 57.0. The stock's profitability, performance, and Piotroski Score are strong. However, its value, and growth are weak. Additionally, it is neutral in terms of financial strength, stock sentiment, and forecast.

Our ST Score also classifies Li Auto Inc. (LI) as a high-quality EV stock today, presenting a Score of 53.0. The stock has strong fundamentals in terms of performance. However, it has weak Piotroski Score. The value, profitability, growth, financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, Ayro Inc. (AYRO) has the ST Score of 54.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, and financial strength but weak in profitability. Value, growth, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Kandi Technologies Group Inc. (KNDI) stock has the ST Score of 52.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its performance, and financial strength, but its weaknesses are in its profitability. However, it shows neutral outlook in value, growth, stock sentiment, Piotroski Score, and forecast.

Ford Motor Company (F) currently has the ST Score of 51.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, and Piotroski Score, while its weak points are its growth, and financial strength. The stock's value, performance, stock sentiment, and forecast indicate a neutral outlook.