Dear Readers,

Friday saw the Dow Jones Industrial Average climbing, extending its winning streak.

However, market enthusiasm was tempered by a significant rise in inflation expectations revealed in consumer sentiment data released that morning. The University of Michigan's consumer sentiment index for May came in at 67.4, well below expectations and marking a six-month low.

Investor sentiment had been buoyed by the Federal Reserve's indication that interest rates are unlikely to rise soon, potentially benefiting equities. Additionally, strong earnings and softer labor data have increased confidence in a possible rate cut, supporting the stock market outlook.

Overall, stocks are poised for a positive week, with the Dow up 2.2%, while the S&P 500 and Nasdaq have gained 1.9% and 1.3%, respectively.

As of 12:08 PM ET, the Dow was up 77.2891 points, or 0.1962%, at $39465.05. The Nasdaq Composite added 20.74 points, or 0.1145%, at $18134.1991. The S&P 500 rose 1.27 points, or 0.0244%, at $5215.34. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Energy leading the way with a -1.68% decrease.

Top Movers: Under $10

AEye Inc (LIDR) is up 62.49% today to trade at the current level of $1.95. This comes after the company announced a new partnership with LiteOn Technology Corporation.

Organogenesis Holdings Inc (ORGO) zoomed 34.43% in today’s trade to $3.07 after reporting first quarter 2024 financial results.

In current trading, Inseego Corp (INSG) stock is at $4.95 following the release of its Q1 2024 financial results.

Safe & Green Holdings Corp (SGBX) rose 24.51% in the early hours of today's trading to move at $5.69. The company announced that a current military contract has been increased again, as of May 9, 2024, by approximately $1.0 million, with more than $900,000 of that change order being allocated to 11 new office containers.

In the current trading session, Sensus Healthcare Inc (SRTS) jumped 25.98% to $4.80 over a previous close of $3.81 after releasing Q1 2024 financial results with revenues up more than three-fold.

Ex-Dividends Stocks

American Water Works Co. Inc. (AWK) 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 $0.77 per share. It has fixed May 14 as the record date for the same and will pay the actual dividend on June 03. Last year, the company distributed a total of $2.12 to its shareholders. Based on the last year's worth of payments, AWK has a trailing yield of 1.57% on the current stock price of $135.10.

Another stock that is shelling out dividends on Monday is Delta Air Lines, Inc. (DAL), having a market capitalization of $33.81B. It will pay a dividend of $0.1 per share, the payment date of which is June 04. Currently, the stock is trading at a trailing dividend yield of 0.57%.

Shares of Invesco Ltd (IVZ) will be the talk of the stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.2 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 IVZ has a trailing yield of 3.90% on the current share price of $15.36.

Tomorrow, WEC Energy Group Inc (WEC) is also set to go ex-dividend on Monday. The next dividend payment from WEC will amount to $0.83 per share. May 14 has been designated as the record date for this dividend, with the actual payout scheduled for June 01. In the previous year, WEC distributed a total of $3.17 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for WEC stands at 3.71% based on the current stock price of $85.63.

Timken Co. (TKR) will be paying out a dividend of $0.34 per share to shareholders holding their shares as of the close of the business hours on the record date of May 14. Over the past 12 months, TKR has paid out a total of $1.32 per share in dividends. Based on the total dividends paid out last year, TKR boasts an impressive trailing yield of 1.44% on the current share price of $91.67.

Crypto Market Highlights

• Coinbase launches political action committee (PAC) for digital asset regulation advocacy

• Harvest aims to make its Bitcoin ETF accessible to mainland Chinese investors

• Binance gains approval to offer services in India from Indian regulator

• IMF recommends Nigeria license global cryptocurrency exchanges

• Notcoin (NOT) trending on X as major exchanges consider listing

• Bankrupt BlockFi winding down operations, partners with Coinbase for fund access

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 95.11% 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 7.0. This represents a change of 3180000 shares, which corresponds to a +8.11% increase in short interest. The total value of the shares held short is estimated to be around $96.65 million. The average daily volume stands at 6.11M shares, and the market capitalization of the company is $399.22M.

The MicroCloud Hologram Inc with the symbol HOLO currently has a short interest of 75.14%. The short interest has changed by 583600 shares. The days to cover ratio stands at 0.1. The estimated value of the shares held short is approximately $2.2 million. On an average day, 7.97M shares are traded, with the company's market capitalization totaling $9.59M.

For the stock Childrens Place Inc (PLCE), the current short interest is at 68.93%. This represents a significant short interest change of 210000 shares, corresponding to a short interest percentage increase of +6.69%. The days needed to cover the short positions amount to 2.0. The approximate worth of the shares held short is $36.31 million.

With the symbol RILY, the stock currently has a short interest of 56.40%. The short interest change is -1600000 shares, compared with a short interest percentage change of -15.05%. It would take approximately 5.8 days to cover all the short positions. The shares short value is estimated to be around $108.14 million. The company boasts an average daily volume of 1.58M shares, contributing to a market capitalization of $972.92M.

The stock BMEA has a current short interest of 50.32%. The short interest percentage has experienced an increase of +1.09% while there was a change of 150000 shares in short interest. The ratio indicating the time required to cover short positions is 14.0. The calculated worth of the shorted shares amounts to around $97.89 million. Trading activity averages at 1.01M shares per day, while the company's market capitalization stands at $389.59M.

Energy Stocks to Watch

According to our ST Score evaluation, Geospace Technologies Corp (GEOS) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 64.0. The stock's profitability, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of value, performance, growth, stock sentiment, and forecast.

Our ST Score also classifies Seadrill Ltd. (SDRL) as a high-quality Energy stock today, presenting a Score of 60.0. The stock has strong fundamentals in terms of profitability, financial strength, and stock sentiment. The value, performance, growth, Piotroski Score, and forecast are neutral.

Another stock in the category, RPC, Inc. (RES) has the ST Score of 62.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, financial strength, stock sentiment, and Piotroski Score but weak in growth. Performance and forecast suggest a neutral outlook.

Profire Energy Inc (PFIE) stock has the ST Score of 60.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, and financial strength. However, it shows a neutral outlook in value, performance, growth, stock sentiment, Piotroski Score, and forecast.

Tsakos Energy Navigation Limited (TNP) currently has the ST Score of 63.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, growth, financial strength, and stock sentiment. The stock's profitability, performance, Piotroski Score, and forecast indicate a neutral outlook.