Hidden Gems: Stocks Soaring Under $10!

Stocks surged on Friday as traders speculated that a rise in the U.S. unemployment rate might deter the Federal Reserve from implementing tighter monetary policies.

At 11:32 AM ET, the Dow was up +53.28 points, or +0.15%, at 34775.19. The Nasdaq Composite lost -9.4 points, or -0.07%, at 14025.57. The S&P 500 rose +4.15 points, or +0.09%, at 4511.81. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Energy leading the way with a 1.38% increase.

The latest U.S. non-farm payrolls report revealed that the unemployment rate in August ticked up to 3.8%, marking its highest level in over a year. This exceeded economists' expectations, as they had anticipated it to remain at 3.5%.

Additionally, as a sign of a slowing economy and diminishing inflation pressures, average hourly earnings only grew by 4.29% year-over-year, falling short of the 4.4% increase anticipated by Dow Jones' polled economists.

Despite a faster-than-expected growth in August payrolls, with the addition of 187,000 jobs, revisions downward of job numbers for June and July, totaling 110,000, dampened the overall employment outlook.

Following the report, Treasury yields declined, with investors increasingly speculating that the Fed would maintain current interest rate levels. The 2-year Treasury yield dropped 7 basis points to 4.79%, while the benchmark 10-year yield dipped 2 basis points to 4.075%.

Top Movers: Under $10

Taoping Inc. (TAOP) is up 53.57% today to trade at the current level of $3.44. This comes after the release of financial results for the first six months of its fiscal year ending December 31, 2023.

Novo Integrated Sciences Inc. (NVOS) zoomed 40.68% in today’s trade to $0.20. This rally can be attributed to news that the company received underwriter clearance notice for $70,000,000 coupon

In current trading, urban-gro Inc. (UGRO) stock is at $1.18 following news that the company declared sale of investment for proceeds of $2.3 million.

Eos Energy Enterprises Inc. (EOSE) rose 16.00% in the early hours of today's trading to move at $3.77 after the Energy Department committed to loan the battery storage startup nearly $400 million to manufacture its zinc batteries.

In the current trading session, C3is Inc. (CISS) jumped 12.15% to $0.48 over a previous close of $0.43. The company reported second quarter and six months 2023 financial and operating results.

Ex-Dividends Stocks

Avery Dennison Corporation (AVY) 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 $0.81 per share. The company has fixed September 06 as the record date for the same and will pay the actual dividend on September 20. Last year, the company distributed a total of $3.24 to its shareholders. Based on the last year's worth of payments, AVY has a trailing yield of 1.69% on the current stock price of $191.30.

Another stock that is shelling out dividends on Tuesday is Guess? Inc. (GES), having a market capitalization of $1.32B. It will pay a dividend of $0.3 per share, the payment date of which is September 22. Currently, the stock is trading at a trailing dividend yield of 4.95%.

Shares of The Cigna Group (CI) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $1.23 per share, and in the last 12 months, the company paid a total of $4.92 per share. Last year's total dividend payments show that CI has a trailing yield of 1.76% on the current share price of $278.95.

Halliburton Company (HAL) is also set to go ex-dividend on Tuesday. The next dividend payment from HAL will amount to $0.16 per share. September 06 has been designated as the record date for this dividend, with the actual payout scheduled for September 27. In the previous year, HAL distributed a total of $0.64 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HAL stands at 1.62% based on the current stock price of $39.49.

Kohl's Corporation (KSS) will be paying out a dividend of $0.5 per share to shareholders holding their shares as of the close of the business hours on the record date of September 06. Over the past 12 months, KSS has paid out a total of $2.00 per share in dividends. Based on the total dividends paid out last year, KSS boasts an impressive trailing yield of 7.47% on the current share price of $26.78.

Crypto Market Highlights

Most Shorted Stocks

Novavax Inc. (NVAX) was one of the most shorted stocks as of latest short interest figures, with 42.16% 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 5.6. This represents a change of 2850000 shares, which corresponds to a +7.71%% increase in short interest. The total value of the shares held short is estimated to be around $329.94 million. The average daily volume stands at 7.28M shares, and the market capitalization of the company is $800.07M.

The Fisker Inc. with the symbol FSR currently has a short interest of 23.79%. The short interest has changed by -4180000 shares. The days to cover ratio stands at 9.0. The estimated value of the shares held short is approximately $480.8 million. On an average day, 8.96M shares are traded, with the company's market capitalization totaling $2.02B.

For the stock Desktop Metal Inc. (DM), the current short interest is at 30.25%. This represents a significant short interest change of -190000 shares, corresponding to a short interest percentage decrease of -0.28%%. The days needed to cover the short positions amount to 20.7. The approximate worth of the shares held short is $124.34 million.

The stock GRPN has a current short interest of 31.25%. The short interest percentage has experienced increase of +9.16%% while there was a change of 450000 shares in short interest. The ratio indicating the time required to cover short positions is 3.8. The calculated worth of the shorted shares amounts to around $398.61 million. Trading activity averages at 1.37M shares per day, while the company's market capitalization stands at $354.09M.

Energy Stocks to Watch

According to our ST Score evaluation, International Seaways Inc. (INSW) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 69.0. The stock's valuation, profitability, growth, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Teekay Tankers Ltd. (TNK) as a high-quality Energy stock today, presenting a Score of 69.0. The stock has strong fundamentals in terms of valuation, profitability, performance, growth, financial strength, and Piotroski Score. The stock sentiment, and forecast are neutral.

Another stock in the category, Par Pacific Holdings Inc. (PARR) has the ST Score of 69.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, growth, stock sentiment, and Piotroski Score. Performance, financial strength, and forecast suggest a neutral outlook.

Scorpio Tankers Inc. (STNG) stock has the ST Score of 68.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, growth, financial strength, and Piotroski Score. However, it shows neutral outlook in performance, stock sentiment, and forecast.

Dorian LPG Ltd. (LPG) currently has the ST Score of 67.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, profitability, performance, financial strength, and Piotroski Score. The stock's growth, stock sentiment, and forecast indicate a neutral outlook.