Midday Highlights: Energy Stocks & $10 Contenders

The Nasdaq Composite reached a record high on Friday, powered by gains in megacap tech stocks, as investors looked to end a turbulent week on a positive note.

As of 11:31 AM ET, the Dow was down -25.27 points, or -0.0596%, at $42349.1. The Nasdaq Composite added 285.15 points, or 1.4093%, at $20518.0174. The S&P 500 rose 34.94 points, or 0.6%, at $5844.81. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Real Estate leading the way with a 1.51% increase.

In a sign of easing pressure, the 10-year Treasury yield dipped to around 4.21% after spiking above 4.25% earlier in the week. Thursday saw mixed results on Wall Street, with the Nasdaq and S&P 500 closing higher, boosted by Tesla’s post-earnings rally.

Despite these gains, both the S&P 500 and Dow are on course to break their six-week winning streaks. The S&P 500 is down 0.4% week-to-date, while the Dow has dropped 1.7%. The Nasdaq, however, is poised to secure its seventh consecutive weekly gain, up 0.3%.

Top Movers: Under $10

BM Technologies Inc (BMTX) is up 48.84% today to trade at the current level of $4.79. This comes after the company announced that it has entered into a definitive agreement to be acquired by First Carolina Bank.

ImmunityBio Inc (IBRX) zoomed 25.30% in today’s trade to $5.28 after announcing that the first patients have been dosed in a trial for its CAR-NK cell therapy targeting CD-19 for non-Hodgkin’s lymphoma (NHL).

In current trading, Newell Brands Inc (NWL) stock is at $8.98 following the release of third quarter 2024 results.

Spirit Airlines Inc (SAVE) rose 23.76% in the early hours of today's trading to move at $2.99 after the company said it plans to cut jobs and sell some planes as it tries to shore up its finances

In the current trading session, GreenPower Motor Company Inc (GP) jumped 13.38% to $1.52 after announcing that it has undertaken a process of selling its tradable emissions compliance credits earned under various regulations related to zero-emission vehicles (ZEVs), greenhouse gas (GHG) emissions, fuel consumption, renewable energy and clean fuels.

Ex-Dividends Stocks

Albertsons Companies Inc (ACI) 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 $0.12 per share. It has fixed October 28 as the record date for the same and will pay the actual dividend on November 08. Last year, the company distributed a total of $0.48 to its shareholders. Based on the last year's worth of payments, ACI has a trailing yield of 2.57% on the current stock price of $18.67.

Shares of Evertec Inc (EVTC) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.05 per share, and in the last 12 months, it paid a total of $0.20 per share. Last year's total dividend payments show that EVTC has a trailing yield of 0.61% on the current share price of $32.72.

Home Bancorp Inc (HBCP) is also set to go ex-dividend on Monday. The next dividend payment from HBCP will amount to $0.26 per share. October 28 has been designated as the record date for this dividend, with the actual payout scheduled for November 08. In the previous year, HBCP distributed a total of $1.00 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HBCP stands at 2.15% based on the current stock price of $46.55.

RMR Group Inc (RMR) will be paying out a dividend of $0.45 per share to shareholders holding their shares as of the close of the business hours on the record date of October 28. Over the past 12 months, RMR has paid out a total of $1.70 per share in dividends. Based on the total dividends paid out last year, RMR boasts an impressive trailing yield of 6.86% on the current share price of $24.78.

Crypto Market Highlights

• Ripple Labs has filed a Form C in the US Court of Appeals, contesting a recent SEC ruling.

• South Korea plans to enhance oversight of cross-border crypto transactions to tackle tax evasion and foreign exchange crimes, according to Finance Minister Choi Sang-Mok at a G20 meeting.

• The Dutch government is seeking public feedback on proposed laws requiring crypto service providers to collect and share user data with tax authorities, in line with EU regulations.

• Singapore-based exchange BingX is launching “ShieldX” after a hot wallet exploit resulted in a $52 million loss in September.

• Microsoft shareholders will vote in December on a proposal for the company to publicly evaluate adding Bitcoin to its balance sheet, as revealed in a filing with US securities regulators.

Most Shorted Stocks

Top Wealth Group Holding Ltd. (TWG) was one of the most shorted stocks as of latest short interest figures, with 5.46% 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 1.0. This represents a change of 2912100 shares, which corresponds to a +1,968.97% increase in short interest. The total value of the shares held short is estimated to be around $10.07 million. The average daily volume stands at 3.05M shares, and the market capitalization of the company is $95.41M.

The Expion360 Inc with the symbol XPON currently has a short interest of 98.45%. The short interest has changed by 447000 shares. The days to cover ratio stands at 0.4. The estimated value of the shares held short is approximately $2.41 million. On an average day, 1.44M shares are traded, with the company's market capitalization totaling $2.45M.

For the stock Jet.AI Inc (JTAI), the current short interest is at 69.35%. This represents a significant short interest change of 5840000 shares, corresponding to a short interest percentage increase of +369.62%. The days needed to cover the short positions amount to 0.2. The approximate worth of the shares held short is $0.52 million.

With the symbol RILY, the stock currently has a short interest of 72.28%. The short interest change is 540000 shares, compared with a short interest percentage change of +5.05%. It would take approximately 3.1 days to cover all the short positions. The shares short value is estimated to be around $44.74 million. The company boasts an average daily volume of 3.68M shares, contributing to a market capitalization of $182.71M.

The stock PIXY has a current short interest of 71.76%. The short interest percentage has experienced decrease of -65.21% while there was a change of -102900 shares in short interest. The ratio indicating the time required to cover short positions is 0.2. The calculated worth of the shorted shares amounts to around $82.5 million. Trading activity averages at 248.14K shares per day, while the company's market capitalization stands at $3.67M.

Energy Stocks to Watch

According to our ST Score evaluation, Natural Gas Services Group, Inc. (NGS) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 59. The stock's performance, and Piotroski Score are strong. However, its financial strength are weak. Additionally, it is neutral in terms of profitability, growth, stock sentiment, and forecast.

Our ST Score also classifies Stabilis Solutions Inc (SLNG) as a high-quality Energy stock today, presenting a Score of 59. The stock has strong fundamentals in terms of performance, growth, financial strength, and Piotroski Score. However, it has weak profitability. The stock sentiment, and forecast are neutral.

Another stock in the category, CKX Lands Inc (CKX) has the ST Score of 56, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, financial strength, and Piotroski Score but weak in growth. Stock sentiment, and forecast suggest a neutral outlook.

Profire Energy Inc (PFIE) stock has the ST Score of 56 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 growth, stock sentiment, and forecast. However, it shows neutral outlook in performance.

Ranger Energy Services Inc (RNGR) currently has the ST Score of 55, which signifies a huge upward potential. The Energy stock's strong points are its performance, and Piotroski Score, while its weak points are its profitability, stock sentiment, and forecast. The stock's growth, and financial strength indicate a neutral outlook.