Market Flash: Leading Clean Energy & $10 Movers

The S&P 500 climbed on Thursday as tech shares surged, while investors processed the latest inflation data after a volatile session. Mega-cap tech and semiconductor stocks continued their rally, with Nvidia up 2.7%, and both Alphabet and Meta gaining over 1.5%.

As of, 11:41 AM ET, the Dow was down -9.62 points, or -0.0235%, at $40852.1. The Nasdaq Composite added 35.8945 points, or 0.1866%, at $19273.2. The S&P 500 rose 6.46 points, or 0.1163%, at $5560.6. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Consumer Defensive leading the way with a 0.88% increase.

Fresh inflation data, released ahead of the Federal Reserve's Sept. 17-18 meeting, indicated a 0.2% rise in wholesale prices for August, aligning with expectations. Meanwhile, core prices saw a slight uptick, though overall inflation hit its lowest level since February 2021.

Additionally, jobless claims rose slightly to 230,000 for the week ending Sept. 7, reflecting a modest increase in unemployment filings.

Investors shook off earlier losses driven by inflation reports, as late-day tech gains helped the market recover.

Top Movers: Under $10

Visionary Holdings Inc. (GV) is up 176.36% today to trade at the current level of $5.61. This comes after the company announced that it signed a MOU with the world's largest sovereign wealth fund, the Public Investment Fund (PIF) of Saudi Arabia.

Oblong Inc (OBLG) zoomed 61.65% in today’s trade to $5.48 after announcing compliance with Nasdaq bid price requirement.

In current trading, Monopar Therapeutics Inc (MNPR) stock is at $3.74 after announcing positive early data from its ongoing open-label MNPR-101-Zr Phase 1 imaging and dosimetry clinical trial confirming MNPR-101-Zr’s tumor targeting ability in humans.

Manitex International Inc (MNTX) rose 47.11% in the early hours of today's trading to move at $5.61. The company announced that it has entered into a definitive agreement to be acquired by Tadano Ltd. in an all-cash transaction at an equity value of $123 million and total transaction value of $223 million, including outstanding debt.

In the current trading session, Gevo Inc (GEVO) jumped 23.48% to $0.92 over a previous close of $0.74 after announcing that it has entered into a definitive agreement to acquire the ethanol production plant and carbon capture and sequestration assets of Red Trail Energy, LLC for $210 million.

Ex-Dividends Stocks

Digital Realty Trust Inc (DLR) 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 $1.22 per share. It has fixed September 13 as the record date for the same and will pay the actual dividend on September 30. Last year, the company distributed a total of $4.88 to its shareholders. Based on the last year's worth of payments, DLR has a trailing yield of 3.09% on the current stock price of $158.04.

Shares of First Horizon Corporation (FHN) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.15 per share, and in the last 12 months, it paid a total of $0.60 per share. Last year's total dividend payments show that FHN has a trailing yield of 3.89% on the current share price of $15.41.

Tomorrow, Gilead Sciences, Inc. (GILD) is also set to go ex-dividend tomorrow. The next dividend payment from GILD will amount to $0.77 per share. September 13 has been designated as the record date for this dividend, with the actual payout scheduled for September 27. In the previous year, GILD distributed a total of $3.04 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for GILD stands at 3.67% based on the current stock price of $82.73.

Automatic Data Processing Inc. (ADP) will be paying out a dividend of $1.4 per share to shareholders holding their shares as of the close of the business hours on the record date of September 13. Over the past 12 months, ADP has paid out a total of $5.45 per share in dividends. Based on the total dividends paid out last year, ADP boasts an impressive trailing yield of 1.98% on the current share price of $275.43.

Crypto Market Highlights

• Grayscale Investments has launched the Grayscale XRP Trust, providing a new investment avenue for XRP cryptocurrency as of Sept. 12.

• Hawaii’s new cryptocurrency regulations are attracting crypto companies, with MetaMask and Transak establishing offices in the state. 

• Layer-1 blockchain Nomic will support Ethereum on its Bitcoin custody engine via a testnet starting Sept. 12, allowing decentralized Bitcoin on- and off-ramping.

• The Central Bank of the United Arab Emirates (CBUAE) has approved a new digital assets custodial risk insurance product.

• eToro is halting trading for nearly all crypto assets following a settlement with the US Securities and Exchange Commission (SEC).

Most Shorted Stocks

B. Riley Financial Inc (RILY) was one of the most shorted stocks as of latest short interest figures, with 78.26% 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 4.0. This represents a change of -40000 shares, which corresponds to a -0.33% decrease in short interest. The total value of the shares held short is estimated to be around $73.14 million. The average daily volume stands at 3.10M shares, and the market capitalization of the company is $182.20M.

The BioCardia Inc. with the symbol BCDA currently has a short interest of 84.33%. The short interest has changed by 1765100 shares. The days to cover ratio stands at 2.3. The estimated value of the shares held short is approximately $5.07 million. On an average day, 814.10K shares are traded, with the company's market capitalization totaling $9.69M.

For the stock Childrens Place Inc (PLCE), the current short interest is at 55.84%. This represents a significant short interest change of 420000 shares, corresponding to a short interest percentage increase of +17.50%. The days needed to cover the short positions amount to 1.7. The approximate worth of the shares held short is $28.71 million.

With the symbol PHAT, the stock currently has a short interest of 26.21%. The short interest change is 1090000 shares, compared with a short interest percentage change of +7.65%. It would take approximately 19.8 days to cover all the short positions. The shares short value is estimated to be around $54.4 million. The company boasts an average daily volume of 787.40K shares, contributing to a market capitalization of $1.32B.

The stock MPW has a current short interest of 39.45%. The short interest percentage has experienced increase of +0.42% while there was a change of 980000 shares in short interest. The ratio indicating the time required to cover short positions is 19.5. The calculated worth of the shorted shares amounts to around $82.07 million. Trading activity averages at 12.08M shares per day, while the company's market capitalization stands at $3.21B.

Biotech Stocks to Watch

According to our ST Score evaluation, Lipocine Inc (LPCN) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 62. The stock's performance, financial strength, and stock sentiment are strong. Additionally, it is neutral in terms of profitability, growth, Piotroski Score, and forecast.

Our ST Score also classifies Ligand Pharmaceuticals, Inc. (LGND) as a high-quality Biotech stock today, presenting a Score of 64. The stock has strong fundamentals in terms of profitability, performance, financial strength, stock sentiment, and Piotroski Score. The growth, and forecast are neutral.

Another stock in the category, Entrada Therapeutics Inc (TRDA) has the ST Score of 63, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, stock sentiment, and Piotroski Score. Growth, financial strength, and forecast suggest a neutral outlook.

BiomX Inc (PHGE) stock has the ST Score of 60 which implies that the Biotech 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 growth, and financial strength. However, it shows neutral outlook in Piotroski Score, and forecast.

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

Best Regards,
Stocks Telegraph Team