Midday Snapshot: EV Stocks to Watch & Must-Have $10 Picks

The Nasdaq Composite rose on Tuesday, fueled by gains in Nvidia, as investors worked to look past escalating geopolitical concerns involving Ukraine and Russia.

As of 11:47 AM ET, the Dow was down -136.88 points, or -0.32%, at $43252.73. The Nasdaq Composite added 51.31 points, or 0.2498%, at $20590.5043. The S&P 500 rose 9.96 points, or 0.169%, at $5903.57. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Financials leading the way with a 1.19% increase.

Nvidia led the charge with a 2% increase ahead of its highly anticipated earnings report set for release after the bell on Wednesday. Walmart also surged 5% after surpassing earnings expectations and boosting its forecast, citing strong discretionary spending. Tesla advanced 2%, pushing its month-to-date rally to an impressive 38%, setting the stage for its best month since January 2023.

In the bond market, Treasurys climbed as investors sought safety, which drove yields lower. Gold futures also edged up, reflecting increased demand for safe-haven assets. Meanwhile, the Cboe Volatility Index (VIX), Wall Street’s premier “fear gauge,” spiked by approximately 16%.

Top Movers: Under $10

PainReform Ltd (PRFX) is up 129.61% today to trade at the current level of $1.23. This comes after the company filed a 6-K form with the SEC.

Volato Group Inc (SOAR) zoomed 138.58% in today’s trade to $0.50 after reporting third-quarter 2024 results.

In current trading, LQR House Inc (LQR) stock is at $1.21 following the announcement from the company that its Board of Directors has approved the purchase of up to $1 million in Bitcoin as part of its treasury management strategy.

Interactive Strength Inc (TRNR) rose 23.72% in the early hours of today's trading to move at $3.13. The company announced that Armah Sports Group's B_FIT is installing CLMBRs across three of the brand's nine locations in Saudi Arabia.

In the current trading session, Safe Pro Group Inc (SPAI) jumped 20.45% to $2.12 over a previous close of $1.76 after announcing that it expects 200+% year-over-year revenue increase for the fourth quarter driven by record monthly revenue in October in excess of $650,000.

Ex-Dividends Stocks

Hasbro, Inc (HAS) 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 $0.7 per share. It has fixed November 20 as the record date for the same and will pay the actual dividend on December 04. Last year, the company distributed a total of $2.10 to its shareholders. Based on the last year's worth of payments, HAS has a trailing yield of 3.41% on the current stock price of $61.67.

Shares of Aflac Inc (AFL) will be the talk of the stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.5 per share, and in the last 12 months, it paid a total of $1.92 per share. Last year's total dividend payments show that AFL has a trailing yield of 1.72% on the current share price of $111.41.

Tomorrow, Marathon Petroleum Corp (MPC) is also set to go ex-dividend tomorrow. The next dividend payment from MPC will amount to $0.91 per share. November 20 has been designated as the record date for this dividend, with the actual payout scheduled for December 10. In the previous year, MPC distributed a total of $3.30 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for MPC stands at 2.07% based on the current stock price of $159.52.

Target Corp (TGT) will be paying out a dividend of $1.12 per share to shareholders holding their shares as of the close of the business hours on the record date of November 20. Over the past 12 months, TGT has paid out a total of $4.42 per share in dividends. Based on the total dividends paid out last year, TGT boasts an impressive trailing yield of 2.81% on the current share price of $157.47.

Crypto Market Highlights

• Securitize and Elixer are launching a liquid staking token (LST) for tokenized securities, including BlackRock’s on-chain money fund, BUIDL.

• Bitfinex Securities is debuting a tokenized public offering of US Treasury bills (T-bills) under El Salvador’s legal framework. 

• Banco Central do Brasil (BCB) has launched phase two of its Drex CBDC pilot, focusing on enhancing cross-border agricultural commodity transactions and supply chain processes.

• Gemini launched its platform in France nearly a year after securing a digital asset service provider (DASP) registration.

• Nansen is fully integrating the Tron network on Nansen 2 through a collaboration with the Tron DAO, launching a Tron Macro Dashboard for real-time insights into the Tron ecosystem.

Most Shorted Stocks

Solaredge Technologies Inc (SEDG) was one of the most shorted stocks as of latest short interest figures, with 33.06% 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 4.6. This represents a change of 2570000 shares, which corresponds to a +15.49% increase in short interest. The total value of the shares held short is estimated to be around $204.25 million. The average daily volume stands at 4.48M shares, and the market capitalization of the company is $618.04M.

The Omega Therapeutics Inc with the symbol OMGA currently has a short interest of 31.10%. The short interest has changed by 330000 shares. The days to cover ratio stands at 26.5. The estimated value of the shares held short is approximately $4.9 million. On an average day, 264.84K shares are traded, with the company's market capitalization totaling $42.66M.

For the stock Arbor Realty Trust Inc (ABR), the current short interest is at 31.48%. This represents a significant short interest change of -350000 shares, corresponding to a short interest percentage decrease of -0.59%. The days needed to cover the short positions amount to 23.1. The approximate worth of the shares held short is $878.08 million.

With the symbol KSS, the stock currently has a short interest of 32.43%. The short interest change is 560000 shares, compared with a short interest percentage change of +1.60%. It would take approximately 5.1 days to cover all the short positions. The shares short value is estimated to be around $1.03 billion. The company boasts an average daily volume of 7.02M shares, contributing to a market capitalization of $1.93B.

The stock HTZ has a current short interest of 31.39%. The short interest percentage has experienced an increase of +16.29% while there was a change of 6030000 shares in short interest. The ratio indicating the time required to cover short positions is 8.5. The calculated worth of the shorted shares amounts to around $142.35 million. Trading activity averages at 5.63M shares per day, while the company's market capitalization stands at $1.23B.

EV Stocks to Watch

According to our ST Score evaluation, Cirrus Logic, Inc (CRUS) emerges as a high-quality stock in the EV industry, attaining an impressive score of 65. The stock's profitability, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Aehr Test Systems (AEHR) as a high-quality EV stock today, presenting a Score of 58. The stock has strong fundamentals in terms of profitability, financial strength, and Piotroski Score. However, it has weak performance, stock sentiment, and forecast. The growth is neutral.

Another stock in the category, BorgWarner Inc (BWA) has the ST Score of 58, 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.

Hyliion Holdings Corporation (HYLN) stock has the ST Score of 56 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its performance, and financial stability, but its weaknesses are in its profitability, stock sentiment, and forecast. However, it shows a neutral outlook in growth, and a Piotroski Score.

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

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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