Investor's Hourly Spotlight: The 5 Hottest Biotech Stocks to Watch!

Stocks pulled back on Tuesday as Wall Street held its breath for the outcomes of the upcoming Federal Reserve policy meeting this week.

Deere, often regarded as an indicator of forthcoming economic trends, experienced a decline of over 2% during the session.

This decline followed a downgrade from Evercore ISI, shifting the stock's rating from "outperform" to "in-line" due to reductions in agricultural production.

The Federal Reserve is set to unveil its economic forecasts on Wednesday, with investors keenly attentive to remarks concerning the trajectory of inflation and the future direction of monetary policy.

Meanwhile, oil prices saw an upward surge on Tuesday, lending support to energy stocks in the S&P 500, which helped counterbalance losses during the session.

At 11:32 AM ET, the Dow was down -227.1797 points, or -0.6561%, at $34397.12. The Nasdaq Composite lost -124.6396 points, or -0.8186%, at $15100.732. The S&P 500 declined -27.6099 points, or -0.62%, at $4425.92. Among the 11 major S&P 500 sectors, 11 showed negative movement, with Energy leading the way with a -0.9% decrease.

Top Movers: Under $10

Elutia Inc. (ELUT) is up 27.42% today to trade at the current level of $1.58. This comes after the company declared private placement for proceeds up to $26 million.

AST SpaceMobile Inc. (ASTS) zoomed 6.56% in today’s trade to $4.06 following the achievement of historic 5G connection between a regular smartphone and a space satellite for voice and data.

In current trading, Orchestra BioMed Holdings Inc. (OBIO) stock is at $9.87 following news that FDA granted approval of ide to initiate backbeat pivotal study of backbeat cnt™ for the treatment of hypertension in pacemaker patients.

Eos Energy Enterprises Inc. (EOSE) rose 16.76% in the early hours of today's trading to move at $2.66 after reporting that it has been selected by Dominion Energy Virginia to provide 16 MWh of storage to participate in a groundbreaking pilot project.

In the current trading session, Galera Therapeutics Inc. (GRTX) jumped 19.61% to $0.23 over a previous close of $0.19 after announcing that a Type A Meeting has been scheduled for September 28, 2023 with the FDA regarding the Complete Response Letter received for the Company’s New Drug Application (NDA) for avasopasem manganese (avasopasem).

Ex-Dividends Stocks

Broadcom Inc. (AVGO) 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 $4.6 per share. The company has fixed September 21 as the record date for the same and will pay the actual dividend on September 29. Last year, the company distributed a total of $18.40 to its shareholders. Based on the last year's worth of payments, AVGO has a trailing yield of 2.18% on the current stock price of $842.71.

Another stock that is shelling out dividends tomorrow is Gladstone Investment Corporation (GAIN), having a market capitalization of $442.64M. It will pay a dividend of $0.08 per share, the payment date of which is September 29. Currently, the stock is trading at a trailing dividend yield of 7.35%.

Shares of Omnicom Group Inc. (OMC) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.7 per share, and in the last 12 months, the company paid a total of $2.80 per share. Last year's total dividend payments show that OMC has a trailing yield of 3.63% on the current share price of $77.09.

Gladstone Capital Corporation (GLAD) is also set to go ex-dividend tomorrow. The next dividend payment from GLAD will amount to $0.08 per share. September 21 has been designated as the record date for this dividend, with the actual payout scheduled for September 29. In the previous year, GLAD distributed a total of $0.99 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for GLAD stands at 9.65% based on the current stock price of $10.26.

Smith & Wesson Brands Inc. (SWBI) will be paying out a dividend of $0.12 per share to shareholders holding their shares as of the close of the business hours on the record date of September 21. Over the past 12 months, SWBI has paid out a total of $0.48 per share in dividends. Based on the total dividends paid out last year, SWBI boasts an impressive trailing yield of 4.12% on the current share price of $11.64.

Crypto Market Highlights

Most Shorted Stocks

U-Haul Holding Company (UHAL) was one of the shorted stocks as of latest short interest figures, with 21.2% 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 16.94. The average daily volume stands at 148.62K shares, and the market capitalization of the company is $10.39B.

The Helen of Troy Limited with the symbol HELE currently has a short interest of 21.08%. The short interest has changed by 10000 shares. The days to cover ratio stands at 12.3. The estimated value of the shares held short is approximately $573.23 million. On an average day, 399.42K shares are traded, with the company's market capitalization totaling $2.78B.

For the stock AST SpaceMobile Inc. (ASTS), the current short interest is at 24.28%. This represents a significant short interest change of 1920000 shares, corresponding to a short interest percentage increase of +11.58%. The days needed to cover the short positions amount to 8.0. The approximate worth of the shares held short is $75.11 million.

The stock PLUG has a current short interest of 22.53%. The short interest percentage has experienced increase of +1.59% while there was a change of 1890000 shares in short interest. The ratio indicating the time required to cover short positions is 5.2. The calculated worth of the shorted shares amounts to around $138.08 million. Trading activity averages at 21.40M shares per day, while the company's market capitalization stands at $5.05B.

EV Stock to Watch

According to our ST Score evaluation, GreenPower Motor Company Inc. (GP) emerges as a high-quality stock in the EV industry, attaining an impressive score of 52.0. The stock's performance, and stock sentiment are strong. However, its Piotroski Score are weak. Additionally, it is neutral in terms of value, profitability, growth, financial strength, and forecast.

Our ST Score also classifies Niu Technologies (NIU) as a high-quality EV stock today, presenting a Score of 50.0. The stock has strong fundamentals in terms of profitability. However, it has weak financial strength. The value, performance, growth, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Freeport-McMoRan Inc. (FCX) has the ST Score of 50.0, which means that the stock carries the potential for higher returns. The stock is strong in Piotroski Score but weak in performance. Value, profitability, growth, financial strength, stock sentiment, and forecast suggest a neutral outlook.

Teck Resources Limited (TECK) stock has the ST Score of 53.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and stock sentiment, but its weaknesses are in its financial strength. However, it shows neutral outlook in value, growth, Piotroski Score, and forecast.

Albemarle Corporation (ALB) currently has the ST Score of 58.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, growth, and stock sentiment. The stock's value, performance, financial strength, Piotroski Score, and forecast indicate a neutral outlook.