Afternoon Breakdown: Top Energy Movers & $10 Hot Stocks

The S&P 500 climbed higher on Friday as traders absorbed the week’s postelection surge and assessed the Federal Reserve's latest monetary policy moves.

As of 11:50 AM ET, the Dow was up 269.18 points, or 0.62%, at $43998.53. The Nasdaq Composite lost -0.75 points, or -0.0036%, at $21100.8178. The S&P 500 rose 23.53 points, or 0.3939%, at $5996.62. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Consumer Defensive leading the way with a 1.75% increase.

The major indexes are heading for notable weekly gains, largely fueled by Wednesday’s impressive rally following President-elect Donald Trump’s victory. By Thursday’s close, the S&P 500 was up approximately 4.4%, and the Dow had gained 4.2%, positioning both for their strongest week since November 2023. Leading the charge, the Nasdaq posted an even more impressive 5.7% increase through Thursday.

Small-cap stocks have been particularly robust, with the Russell 2000 surging over 7% for the week through Thursday.

Investors typically view a Republican-led government as favorable due to expectations of deregulation, potential boosts in mergers and acquisitions, and proposed tax cuts. However, concerns about a ballooning federal deficit and increased tariffs have raised alarms about potential inflation.

Top Movers: Under $10

Porch Group Inc (PRCH) is up 47.64% today to trade at the current level of $3.44. This comes after the company reported third-quarter 2024 results.

Tivic Health Systems Inc (TIVC) zoomed 46.45% in today’s trade to $0.38. The company will report third-quarter 2024 financial results on November 14.

In current trading, Indie Semiconductor Inc (INDI) stock is at $4.76 following the release of third-quarter results for the period ended September 30, 2024. Revenue increased 3.1% sequentially to $54.0 million.

DevvStream Corp (DEVS) rose 27.83% in the early hours of today's trading to move at $1.36 after announcing definitive agreements for the purchase of 2.5 million carbon credits in exchange for common shares of DevvStream.

In the current trading session, Emcore Corp (EMKR) jumped 27.93% to $3.03 over a previous close of $2.37 after signing a merger agreement with Velocity One.

Ex-Dividends Stocks

D.R. Horton Inc (DHI) is about to trade ex-dividend Tuesday, meaning that investors who buy the stock after Tuesday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.4 per share. It has fixed November 12 as the record date for the same and will pay the actual dividend on November 19. Last year, the company distributed a total of $1.20 to its shareholders. Based on the last year's worth of payments, DHI has a trailing yield of 0.71% on the current stock price of $168.86.

Shares of PPG Industries, Inc (PPG) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.68 per share, and in the last 12 months, it paid a total of $2.63 per share. Last year's total dividend payments show that PPG has a trailing yield of 2.09% on the current share price of $126.01.

Rollins, Inc (ROL) is also set to go ex-dividend on Tuesday. The next dividend payment from ROL will amount to $0.17 per share. November 12 has been designated as the record date for this dividend, with the actual payout scheduled for December 10. In the previous year, ROL distributed a total of $0.60 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ROL stands at 1.20% based on the current stock price of $50.20.

Visa Inc (V) will be paying out a dividend of $0.59 per share to shareholders holding their shares as of the close of the business hours on the record date of November 12. Over the past 12 months, V has paid out a total of $2.08 per share in dividends. Based on the total dividends paid out last year, V boasts an impressive trailing yield of 0.67% on the current share price of $309.78.

Crypto Market Highlights

• More candidates supported by cryptocurrency political action committees (PACs) have won their races, as election results for the U.S. House of Representatives continue to be reported in California and Nevada.

• Following Donald Trump's election win on Nov. 6, expectations have risen for more favorable cryptocurrency regulations in the U.S. over the next four years, potentially until 2028. 

• Cryptocurrency payment gateway Alchemy Pay has expanded its compliance in the U.S. by obtaining new licenses in four states.

• Cryptocurrency loans are soaring in value, raising concerns about potential risks to the market amid post-election investor optimism.

• The California Department of Financial Protection and Innovation (DFPI) has permanently revoked the license of collapsed cryptocurrency lender BlockFi, two years after its bankruptcy.

Most Shorted Stocks

Novavax, Inc (NVAX) was one of the most shorted stocks as of latest short interest figures, with 22.31% 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 5.3. This represents a change of 1840000 shares, which corresponds to a +5.43% increase in short interest. The total value of the shares held short is estimated to be around $323.27 million. The average daily volume stands at 6.07M shares, and the market capitalization of the company is $1.45B.

The Editas Medicine Inc with the symbol EDIT currently has a short interest of 22.22%. The short interest has changed by 1590000 shares. The days to cover ratio stands at 9.9. The estimated value of the shares held short is approximately $58.47 million. On an average day, 1.95M shares are traded, with the company's market capitalization totaling $263.33M.

For the stock Array Technologies Inc (ARRY), the current short interest is at 21.37%. This represents a significant short interest change of -90000 shares, corresponding to a short interest percentage decrease of -0.28%. The days needed to cover the short positions amount to 5.7. The approximate worth of the shares held short is $212.03 million.

With the symbol TGTX, the stock currently has a short interest of 23.54%. The short interest change is -1920000 shares, compared with a short interest percentage change of -5.58%. It would take approximately 9.2 days to cover all the short positions. The shares short value is estimated to be around $905.26 million. The company boasts an average daily volume of 3.58M shares, contributing to a market capitalization of $4.32B.

The stock AVXL has a current short interest of 21.12%. The short interest percentage has experienced an increase of +1.82% while there was a change of 320000 shares in short interest. The ratio indicating the time required to cover short positions is 22.7. The calculated worth of the shorted shares amounts to around $268.61 million. Trading activity averages at 799.93K shares per day, while the company's market capitalization stands at $701.17M.

Energy Stocks to Watch

According to our ST Score evaluation, NCS Multistage Holdings Inc (NCSM) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 68. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies PrimeEnergy Resources Corp (PNRG) as a high-quality Energy stock today, presenting a Score of 63. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. The growth, financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, Star Group L.P (SGU) has the ST Score of 62, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score but weak in financial strength. Growth, stock sentiment, and forecast suggest a neutral outlook.

Geospace Technologies Corp (GEOS) stock has the ST Score of 61 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, and Piotroski Score. However, it shows neutral outlook in profitability, growth, stock sentiment, and forecast.

PHX Minerals Inc (PHX) currently has the ST Score of 61, which signifies a huge upward potential. The Energy stock's strong points are its profitability, performance, financial strength, and Piotroski Score, while its weak points are its growth. The stock's stock sentiment and forecast indicate a neutral outlook.