Lunchtime Report: Hot Energy Stocks & $10 Bargain Opportunities

Stocks took a sharp downturn on Friday, signaling the end of the postelection rally and putting the major averages on course for significant weekly losses. Market sentiment was impacted by comments from Federal Reserve Chairman Jerome Powell, who indicated on Thursday that the central bank isn’t rushing to cut interest rates. Powell emphasized that the robust growth of the economy provides policymakers with the flexibility to deliberate on the scope of future rate reductions.

At 11:27 AM ET, the Dow was down -240.46 points, or -0.5496%, at $43510.41. The Nasdaq Composite lost -445.38 points, or -2.1313%, at $20451.2902. The S&P 500 declined -65.38 points, or -1.099%, at $5883.78. Among the 11 major S&P 500 sectors, 9 showed negative movement, with Health Care leading the way with a -2.2% decrease.

Adding to the mix, October’s retail sales data came in stronger than anticipated, showing a 0.4% rise compared to the 0.3% forecast by economists surveyed by Dow Jones. This follows an October consumer inflation report that met economists’ expectations.

The post-election rally, sparked by President-elect Trump’s victory, had lifted all three major indexes to record highs earlier in the week. However, momentum has waned. The S&P 500 is down about 1.9% for the week, while the Nasdaq Composite is on track for a 2.8% decline. The Dow has slipped over 1% in the same period.

Top Movers: Under $10

CERo Therapeutics Holdings Inc (CERO) is up 75.13% today to trade at the current level of $0.33. This comes after CERO, announced that the U.S. Food and Drug Administration has cleared the Company’s Investigational New Drug Application for Phase 1 clinical trials of its lead compound, CER-1236, in acute myelogenous leukemia.

Simpple Ltd (SPPL) zoomed 55.72% in today’s trade to $1.38. This rally can be attributed to news that the Company has been awarded a $400,000 contract for the supply of autonomous cleaning robotics at one of Singapore’s international airport terminals.

In current trading, Cineverse Corp (CNVS) stock is at $3.22 following CNVS announcement of its financial results for its fiscal second quarter ended September 30, 2024 ("Q2 FY 2025").

Red Cat Holdings Inc (RCAT) rose 18.41% in the early hours of today's trading to move at $4.76. The strong performance of RCAT stock followed company announcement that it will hold a Town Hall Meeting for investors, analysts and members of the media on Tuesday, November 19, 2024.

In the current trading session, Fuelcell Energy Inc (FCEL) declined -1.98% to $6.87 over a previous close of $7.01 as FCEL announced a global restructuring of its operations in the U.S., Canada, and Germany.

Ex-Dividends Stocks

Chevron Corp (CVX) is about to trade ex-dividend Monday, meaning that investors who buy the stock after Monday will not be eligible for the next dividend payment. The company's next dividend payment will be $1.63 per share. The company has fixed November 18 as the record date for the same and will pay the actual dividend on December 10. Last year, the company distributed a total of $6.40 to its shareholders. Based on the last year's worth of payments, CVX has a trailing yield of 3.95% on the current stock price of $162.01.

Shares of Pan American Silver Corp (PAAS) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.1 per share, and in the last 12 months, the company paid a total of $0.40 per share. Last year's total dividend payments show that PAAS has a trailing yield of 1.83% on the current share price of $21.84.

Gen Digital Inc (GEN) is also set to go ex-dividend on Monday. The next dividend payment from GEN will amount to $0.12 per share. November 18 has been designated as the record date for this dividend, with the actual payout scheduled for December 11. In the previous year, GEN distributed a total of $0.50 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for GEN stands at 1.69% based on the current stock price of $29.65.

Jefferies Financial Group Inc (JEF) will be paying out a dividend of $0.35 per share to shareholders holding their shares as of the close of the business hours on the record date of November 18. Over the past 12 months, JEF has paid out a total of $1.25 per share in dividends. Based on the total dividends paid out last year, JEF boasts an impressive trailing yield of 1.69% on the current share price of $73.94.

Crypto Market Highlights

• Jan van Eck, the CEO of VanEck, has stirred excitement with a striking prediction: Bitcoin could surge to an impressive $300,000 within the next five to 10 years, underscoring the long-term growth potential of the cryptocurrency market.

• Joe Lubin, CEO of blockchain firm Consensys, voiced optimism that ongoing legal battles between cryptocurrency firms and the U.S. Securities and Exchange Commission (SEC) might see resolution in favor of the industry, particularly with a Donald Trump administration at the helm.

• Aave, the leading decentralized lending platform, is engaging its community to explore interest in expanding operations to Spiderchain, a layer-2 network built on Bitcoin, potentially marking a new phase of growth for the platform in the DeFi space.

• Matthew Sigel, head of digital assets research at VanEck, has suggested that Bitcoin might reach $180,000 during its current bull run, driven by market momentum and growing institutional interest in cryptocurrencies.

• In a landmark case, the hacker behind the $10.7 billion Bitfinex cryptocurrency theft has been sentenced to five years in prison, highlighting the challenges of security and regulation in the crypto sector.

Most Shorted Stocks

Mind Medicine Inc (MNMD) was one of the most shorted stocks as of latest short interest figures, with 36.58% 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 10.7 Days to Cover. This represents a change of -230000 shares, which corresponds to a -2.25% decrease in short interest. The total value of the shares held short is estimated to be around $87.13 million. The average daily volume stands at 969.08K shares, and the market capitalization of the company is $639.98M.

For the stock BioVie Inc (BIVI), the current short interest is at 35.04%. This represents a significant short interest change of 1732300 shares, corresponding to a short interest percentage increase of +922.91%. The days needed to cover the short positions amount to 0.4 Days to Cover. The approximate worth of the shares held short is $6.05 million.

With the symbol VERO, the stock currently has a short interest of 35.11%. The short interest change is 1379500 shares, compared with a short interest percentage change of +1,956.74%. It would take approximately 0.9 Days to Cover days to cover all the short positions. The shares short value is estimated to be around $0.63 million. The company boasts an average daily volume of 1.69M shares, contributing to a market capitalization of $2.40M.

The stock SAVE has a current short interest of 34.66%. The short interest percentage has experienced increase of +2.29% while there was a change of 840000 shares in short interest. The ratio indicating the time required to cover short positions is 3.7 Days to Cover. The calculated worth of the shorted shares amounts to around $1.74 million. Trading activity averages at 11.90M shares per day, while the company's market capitalization stands at $131.42M.

Energy Stock to Watch

According to our ST Score evaluation, Tenaris S.A. ADR (TS) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 65. 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 Dnow Inc (DNOW) as a high-quality Energy stock today, presenting a Score of 61. The stock has strong fundamentals in terms of profitability, performance, financial strength, and Piotroski Score. However, it has weak growth. The stock sentiment, and forecast are neutral.

Another stock in the category, First Solar Inc (FSLR) has the ST Score of 58, 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 forecast suggest a neutral outlook.

Viper Energy Inc (VNOM) stock has the ST Score of 60 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, financial strength, and Piotroski Score. However, it shows neutral outlook in growth, stock sentiment, and forecast.

Consol Energy Inc (CEIX) currently has the ST Score of 59, which signifies a huge upward potential. The Energy stock's strong points are its profitability, performance, and Piotroski Score, while its weak points are its financial strength. The stock's growth, stock sentiment, and forecast indicate a neutral outlook.