Market Rundown: Promising Energy Stocks & $10 Breakthroughs

Stocks climbed on Friday as fresh data signaled further progress in curbing inflation, setting Wall Street up for solid weekly gains.

As of 11:30 AM ET, the Dow was up 443.6719 points, or 1.052%, at $42618.78. The Nasdaq Composite lost -67.0625 points, or -0.3334%, at $20048.475. The S&P 500 rose 9.22 points, or 0.1605%, at $5754.58. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Information Technology leading the way with a -0.77% decrease.

Encouraging inflation data bolstered hopes for more interest rate cuts by the Federal Reserve. August’s personal consumption expenditures (PCE) price index— the Fed's preferred inflation gauge—rose just 0.1%, in line with expectations, with an annual increase of 2.2%, slightly below the forecasted 2.3%.

With inflation showing signs of cooling, investors and policymakers alike are optimistic about easing borrowing costs to alleviate pressure on households and businesses. Wall Street is coming off a winning session, buoyed by strong economic data, including better-than-expected jobless claims and a 3% GDP growth for Q2, signaling continued economic resilience.

Top Movers: Under $10

IonQ Inc (IONQ) is up 19.49% today to trade at the current level of $9.63. This comes after the company announced that it has signed a $54.5 million contract with the United States Air Force Research Lab (AFRL).

Cue Biopharma Inc (CUE) zoomed 22.22% in today’s trade to $0.56. The company recently announced pricing of $12.0 million public offering.

In current trading, Rocket Lab USA Inc (RKLB) stock is at $10.00 following news that it has completed testing and integration of its second Pioneer spacecraft for Varda Space Industries, Inc.

Tonix Pharmaceuticals Holding Corp (TNXP) rose 15.81% in the early hours of today's trading to move at $0.16 after announcing issuance of U.S. Patent covering the Subcutaneous delivery of FDA-approved Zembrace® SymTouch® to treat migraines.

In the current trading session, Real Good Food Company Inc (RGF) jumped 16.51% to $0.43 over a previous close of $0.37 after announcing debt refinancing transactions with PMC Financial Services and Emblem Investments Fund I, LP.

Ex-Dividends Stocks

Franklin Resources, Inc. (BEN) 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 $0.31 per share. It has fixed September 30 as the record date for the same and will pay the actual dividend on October 11. Last year, the company distributed a total of $1.23 to its shareholders. Based on the last year's worth of payments, BEN has a trailing yield of 5.86% on the current stock price of $20.99.

Shares of Fifth Third Bancorp (FITB) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.37 per share, and in the last 12 months, it paid a total of $1.40 per share. Last year's total dividend payments show that FITB has a trailing yield of 3.23% on the current share price of $43.38.

Host Hotels & Resorts Inc (HST) is also set to go ex-dividend on Monday. The next dividend payment from HST will amount to $0.2 per share. September 30 has been designated as the record date for this dividend, with the actual payout scheduled for October 15. In the previous year, HST distributed a total of $0.78 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HST stands at 4.24% based on the current stock price of $18.34.

Humana Inc. (HUM) will be paying out a dividend of $0.89 per share to shareholders holding their shares as of the close of the business hours on the record date of September 30. Over the past 12 months, HUM has paid out a total of $3.54 per share in dividends. Based on the total dividends paid out last year, HUM boasts an impressive trailing yield of 1.10% on the current share price of $320.91.

Crypto Market Highlights

• Bolivia's central bank reports a 100% increase in average monthly virtual asset trading since lifting its Bitcoin ban in late June.

• Bitget Wallet announces a new software development kit, OmniConnect, allowing developers to integrate Telegram Mini Apps into multichain ecosystems.

• Two top Hong Kong financial regulators plan to implement European Securities and Markets Authority (ESMA) reporting requirements for crypto over-the-counter (OTC) derivatives.

• The U.S. Securities and Exchange Commission achieves a partial victory in its case against Opporty International for a fraudulent initial coin offering (ICO).

• The U.S. government takes action against two Russians and two cryptocurrency exchanges linked to alleged illicit financing, in collaboration with various international law enforcement agencies.

  Most Shorted Stocks

Zynex Inc (ZYXI) was one of the most shorted stocks as of latest short interest figures, with 32.06% 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 36.1. This represents a change of -50000 shares, which corresponds to a -0.91% decrease in short interest. The total value of the shares held short is estimated to be around $45.75 million. The average daily volume stands at 148.88K shares, and the market capitalization of the company is $266.93M.

The ImmunityBio Inc with the symbol IBRX currently has a short interest of 31.81%. The short interest has changed by -550000 shares. The days to cover ratio stands at 17.9. The estimated value of the shares held short is approximately $203.47 million. On an average day, 2.75M shares are traded, with the company's market capitalization totaling $2.79B.

For the stock Plug Power Inc (PLUG), the current short interest is at 34.61%. This represents a significant short interest change of 7240000 shares, corresponding to a short interest percentage increase of +2.90%. The days needed to cover the short positions amount to 6.6. The approximate worth of the shares held short is $570.56 million.

With the symbol AAOI, the stock currently has a short interest of 29.33%. The short interest change is 270000 shares, compared with a short interest percentage change of +2.42%. It would take approximately 4.8 days to cover all the short positions. The shares short value is estimated to be around $3.64 billion. The company boasts an average daily volume of 2.41M shares, contributing to a market capitalization of $578.73M.

The stock OPK has a current short interest of 30.14%. The short interest percentage has experienced increase of +0.75% while there was a change of 730000 shares in short interest. The ratio indicating the time required to cover short positions is 29.7. The calculated worth of the shorted shares amounts to around $17.46 million. Trading activity averages at 3.35M shares per day, while the company's market capitalization stands at $1.07B.

Energy Stocks to Watch

According to our ST Score evaluation, Epsilon Energy Ltd (EPSN) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 58. The stock's performance, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of profitability, stock sentiment, and forecast.

Our ST Score also classifies Teekay Corp (TK) as a high-quality Energy stock today, presenting a Score of 68. The stock has strong fundamentals in terms of performance, financial strength, and Piotroski Score. However, it has weak growth. The profitability, stock sentiment, and forecast are neutral.

Another stock in the category, Natural Resource Partners LP (NRP) has the ST Score of 56, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score but weak in financial strength. Growth, stock sentiment, and forecast suggest a neutral outlook.

Scorpio Tankers Inc (STNG) stock has the ST Score of 65 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, financial strength, and Piotroski Score, but its weaknesses are in its performance. However, it shows neutral outlook in growth, stock sentiment, and forecast.

Stabilis Solutions Inc (SLNG) currently has the ST Score of 56, which signifies a huge upward potential. The Energy stock's strong points are its performance, growth, financial strength, and Piotroski Score, while its weak points are its profitability. The stock's stock sentiment, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team