EV Launchpad: Budget Picks Driving Midday Gains

The S&P 500 edged lower Tuesday as investors took a pause to digest the market’s recent strong run. The pullback followed six consecutive days of gains, marking the index’s longest winning streak since earlier this month.

Although Monday’s advance was modest, it added to a broader five-week rebound that has lifted stocks sharply from recent lows.

As of 11:30 AM ET, the Dow was down -65.2 points, or -0.1524%, at $42726.87. The Nasdaq Composite lost -94.28 points, or -0.44%, at $21352.77. The S&P 500 declined -15.78 points, or -0.26%, at $5947.82. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Energy leading the way with a 0.7% increase.

Top Movers: Under $10 

Neuraxis Inc (NRXS) is up 108.85% today to trade at the current level of $4.74. This comes after the company announced that it has received FDA 510(k) clearance for IB-Stim™ for the treatment of Pediatric Functional Abdominal Pain (FAP) associated with Functional Dyspepsia, and FD related Nausea Symptoms, in patients aged 8 to 21 years.

SatixFy Communications Ltd (SATX) zoomed 42.65% in today’s trade to $2.91. This rally can be attributed to news that MDA Space and SatixFy have revised their merger deal. MDA will buy SatixFy for $2.10 per share in cash, valuing it at $193 million.

In current trading, Edible Garden AG Inc (EDBL) stock is at $2.77 after announcing that it has officially launched the initial phase of its Kick. Sports Nutrition product line on Amazon.

MEDIROM Healthcare Technologies Inc ADR (MRM) rose 51.90% in the early hours of today's trading to move at $1.20. The company announced that for the year ended December 31, 2024, it had total revenue of $52,736,000, a 22% increase over total revenue of $43,388,000 for the year ended December 31, 2023.

In the current trading session, Intellicheck Inc (IDN) jumped 20.24% to $3.98 over a previous close of $3.31 after announcing a top financial customer has signed a new high value three-year agreement.

Ex-Dividends Stocks

Chord Energy Corp (CHRD) 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 $1.3 per share. It has fixed May 21 as the record date for the same and will pay the actual dividend on June 09. Last year, the company distributed a total of $5.04 to its shareholders. Based on last year's worth of payments, CHRD has a trailing yield of 5.29% on the current stock price of $95.21.

Another stock that is shelling out dividends tomorrow is Hasbro, Inc (HAS), having a market capitalization of $9.60B. It will pay a dividend of $0.7 per share, the payment date of which is June 04. Currently, the stock is trading at a trailing dividend yield of 3.07%.

Shares of Gladstone Land Corp (LAND) will be the talk of the stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.05 per share, and in the last 12 months, it paid a total of $0.56 per share. Last year's total dividend payments show that LAND has a trailing yield of 5.78% on the current share price of $9.70.

MarketAxess Holdings Inc (MKTX) is also set to go ex-dividend tomorrow. The next dividend payment from MKTX will amount to $0.76 per share. May 21 has been designated as the record date for this dividend, with the actual payout scheduled for June 04. In the previous year, MKTX distributed a total of $2.98 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for MKTX stands at 1.34% based on the current stock price of $222.38.

Powell Industries, Inc (POWL) will be paying out a dividend of $0.27 per share to shareholders holding their shares as of the close of the business hours on the record date of May 21. Over the past 12 months, POWL has paid out a total of $1.06 per share in dividends. Based on the total dividends paid out last year, POWL boasts an impressive trailing yield of 0.59% on the current share price of $181.60.

Crypto Market Highlights

• Robinhood submitted a 42-page proposal to the SEC, urging the creation of a national regulatory framework for tokenized real-world assets (RWAs).

• Kraken launched regulated derivatives trading under the EU’s MiFID II framework, expanding its services in Europe. 

• Germany reportedly lost over $2 billion in potential Bitcoin profit by selling its holdings too early in 2024, according to Arkham.

• Avalanche, Helix, and Faculty Group unveiled Fusion, a new blockchain ecosystem designed to support real-world adoption through modular, industry-specific infrastructure.

• India’s Supreme Court criticized the government for taxing cryptocurrencies like Bitcoin without providing clear regulatory guidelines.

Most Shorted Stocks

AnaptysBio Inc (ANAB) was one of the most shorted stocks as of the latest short interest figures, with 33.06% 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 9.1. This represents a change of -1810000 shares, which corresponds to a -16.81% decrease in short interest. The total value of the shares held short is estimated to be around $188.34 million. The average daily volume stands at 738.12K shares, and the market capitalization of the company is $617.58M.

The Arbor Realty Trust Inc with the symbol ABR currently has a short interest of 30.28%. The short interest has changed by 1160000 shares. The days to cover ratio stands at 14.2. The estimated value of the shares held short is approximately $592.27 million. On an average day, 4.41M shares are traded, with the company's market capitalization totaling $1.96B.

For the stock Eos Energy Enterprises Inc (EOSE), the current short interest is at 28.70%. This represents a significant short interest change of -1260000 shares, corresponding to a short interest percentage decrease of -1.89%. The days needed to cover the short positions amount to 10.4. The approximate worth of the shares held short is $416.09 million.

With the symbol SOUN, the stock currently has a short interest of 31.25%. The short interest change is -7930000 shares, compared with a short interest percentage change of -6.63%. It would take approximately 3.4 days to cover all the short positions. The shares' short value is estimated to be around $661.69 million. The company boasts an average daily volume of 30.84M shares, contributing to a market capitalization of $4.07B.

The stock APLD has a current short interest of 36.23%. The short interest percentage has experienced a decrease of -3.15% while there was a change of -2040000 shares in short interest. The ratio indicating the time required to cover short positions is 2.1. The calculated worth of the shorted shares amounts to around $739.72 million. Trading activity averages at 33.22M shares per day, while the company's market capitalization stands at $1.49B.

EV Stocks to Watch

According to our ST Score evaluation, Cirrus Logic, Inc (CRUS) emerges as a high-quality stock in the EV industry, attaining an impressive score of 61. The stock's profitability, performance, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of stock sentiment, and forecast.

Our ST Score also classifies Enersys (ENS) as a high-quality EV stock today, presenting a Score of 60. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. However, it has weak growth. The financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, Li Auto Inc ADR (LI) has the ST Score of 59, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, financial strength, and Piotroski Score. Growth, stock sentiment, and the forecast suggest a neutral outlook.

Aptiv PLC (APTV) stock has the ST Score of 57 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and Piotroski Score, but its weaknesses are in its financial strength. However, it shows neutral outlook in growth, stock sentiment, and forecast.

Honda Motor ADR (HMC) currently has the ST Score of 56, which signifies a huge upward potential. The EV stock's strong points are its profitability, financial strength, and Piotroski Score, while its weak points are its growth. The stock's performance, stock sentiment, and forecast indicate a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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