Midday Recap: Promising Energy Stocks & $10 Opportunities

Following several sessions of gains, stocks are continuing to move higher in Friday’s trading. All major indexes have climbed solidly into positive territory, almost erasing the sharp declines seen last week. With today’s rally, both the Nasdaq and S&P 500 are on track to notch their fifth consecutive session of gains.

As of 11:17 AM ET, the Dow was up 278.43 points, or 0.6775%, at $41375.21. The Nasdaq Composite added 75.32 points, or 0.3878%, at $19498.3935. The S&P 500 rose 27.8604 points, or 0.4979%, at $5623.62. Among the 11 major S&P 500 sectors, 10 showed positive movement, with Communication Services leading the way with a 1.08% increase.

Optimism around interest rate expectations has been a key driver of Wall Street's strength, ahead of next week’s Federal Reserve meeting on monetary policy.

The Fed is set to reveal its latest policy decision next Wednesday, with widespread expectations of at least a 25-basis-point rate cut. While recent inflation data has tempered hopes for more aggressive rate cuts, the central bank is still expected to continue reducing rates over the coming months.

Adding to the positive mood in the markets, the University of Michigan's report showed consumer sentiment in the U.S. improved more than forecasted for September. The Labor Department also released a report earlier in the day showing that U.S. import prices fell slightly more than anticipated in August.

Top Movers: Under $10

Agape ATP Corp (ATPC) is up 74.83% today to trade at the current level of $2.54. This comes after the company announced partnership with Photons Solar to advance Solar PV Mounting Systems in ASEAN.

Singular Genomics Systems Inc (OMIC) zoomed 67.26% in today’s trade to $9.45. The company received non-binding acquisition proposal from Deerfield.

In current trading, Immuneering Corp (IMRX) stock is at $2.06 following the release of positive initial response data from the first five patients treated with IMM-1-104 in combination with modified gemcitabine/nab-paclitaxel in first line pancreatic cancer as part of its ongoing Phase 2a clinical trial.

Gevo Inc (GEVO) rose 17.93% in the early hours of today's trading to move at $1.09 after signing of a definitive agreement to acquire Red Trail Energy's ethanol production plant and carbon capture and sequestration (CCS) assets for $210M.

In the current trading session, SMX (Security Matters) Plc (SMX) jumped 31.02% to $3.21 over a previous close of $2.45 after announcing the closing of private placement of approximately $5,350,000 of Ordinary Shares and pre-funded and investor warrants at a price of $1.00 per Common Unit.

Ex-Dividends Stocks

DTE Energy Co. (DTE) is about to trade ex-dividend Monday, 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 $1.02 per share. It has fixed September 16 as the record date for the same and will pay the actual dividend on October 15. Last year, the company distributed a total of $4.01 to its shareholders. Based on the last year's worth of payments, DTE has a trailing yield of 3.21% on the current stock price of $125.12.

Shares of Iron Mountain Inc. (IRM) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.71 per share, and in the last 12 months, it paid a total of $2.59 per share. Last year's total dividend payments show that IRM has a trailing yield of 2.21% on the current share price of $117.12.

Tomorrow, KBR Inc (KBR) is also set to go ex-dividend on Monday. The next dividend payment from KBR will amount to $0.15 per share. September 16 has been designated as the record date for this dividend, with the actual payout scheduled for October 15. In the previous year, KBR distributed a total of $0.57 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for KBR stands at 0.92% based on the current stock price of $62.13.

Meta Platforms Inc (META) will be paying out a dividend of $0.5 per share to shareholders holding their shares as of the close of the business hours on the record date of September 16. Over the past 12 months, META has paid out a total of $1.00 per share in dividends. Based on the total dividends paid out last year, META boasts an impressive trailing yield of 0.19% on the current share price of $525.37.

Crypto Market Highlights

• SEC has broadened its lawsuit against Binance, now including more tokens like Axie Infinity and Filecoin as securities.

• Utonic, a new restaking protocol on The Open Network (TON), secured a $100 million institutional commitment from major firms before its launch.

• MicroStrategy purchased approximately 18,300 Bitcoin between August 6 and September 12. 

• Solana's liquid staking could grow more than fivefold with increasing retail adoption.

• Hong Kong’s SFC is consulting industry participants on a potential new licensing regime for cryptocurrency OTC services.

Most Shorted Stocks

Beyond Meat Inc (BYND) was one of the most shorted stocks as of latest short interest figures, with 38.96% 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 8.0. This represents a change of -1870000 shares, which corresponds to a -7.31% decrease in short interest. The total value of the shares held short is estimated to be around $152.28 million. The average daily volume stands at 2.99M shares, and the market capitalization of the company is $417.45M.

The Arbor Realty Trust Inc. with the symbol ABR currently has a short interest of 34.94%. The short interest has changed by -2110000 shares. The days to cover ratio stands at 18.6. The estimated value of the shares held short is approximately $940.11 million. On an average day, 3.61M shares are traded, with the company's market capitalization totaling $2.69B.

For the stock Guess Inc. (GES), the current short interest is at 34.73%. This represents a significant short interest change of 50000 shares, corresponding to a short interest percentage increase of +0.54%. The days needed to cover the short positions amount to 7.2. The approximate worth of the shares held short is $180.52 million.

With the symbol ZYXI, the stock currently has a short interest of 32.35%. The short interest change is -10000 shares, compared with a short interest percentage change of -0.18%. It would take approximately 36.2 days to cover all the short positions. The shares short value is estimated to be around $75.69 million. The company boasts an average daily volume of 151.61K shares, contributing to a market capitalization of $258.05M.

The stock IBRX has a current short interest of 32.15%. The short interest percentage has experienced increase of +4.29% while there was a change of 2110000 shares in short interest. The ratio indicating the time required to cover short positions is 16.3. The calculated worth of the shorted shares amounts to around $20.04 million. Trading activity averages at 3.07M shares per day, while the company's market capitalization stands at $2.55B.

Energy Stocks to Watch

According to our ST Score evaluation, Dynagas LNG Partners LP (DLNG) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 63. 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 Delek Logistics Partners LP (DKL) as a high-quality Energy stock today, presenting a Score of 58. The stock has strong fundamentals in terms of financial strength, stock sentiment, and Piotroski Score. However, it has weak profitability. The performance, growth, and forecast are neutral.

Another stock in the category, Star Group L.P. (SGU) has the ST Score of 58, which means that the stock carries the potential for higher returns. The stock is strong in performance, stock sentiment, and Piotroski Score but weak in growth, and financial strength. Profitability, and forecast suggest a neutral outlook.

Mexco Energy Corp (MXC) stock has the ST Score of 57 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, stock sentiment, and Piotroski Score. However, it shows neutral outlook in growth, and forecast.

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

Best Regards,
Stocks Telegraph Team