Steering the Future: Key EV Stocks to Watch Today!

Stocks saw an uptick on Tuesday as investors assessed the final days of what has proven to be a challenging August for the market.

As of 12:02 PM ET, the Dow was up +188.78 points, or +0.55%, at 34748.76. The Nasdaq Composite added +214.15 points, or +1.56%, at 13919.28. The S&P 500 rose +48.72 points, or +1.1%, at 4482.03. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Communication Services leading the way with a 2.73% increase.

This surge in market activity followed the release of fresh U.S. economic data. The most recent job openings and labor turnover survey indicated a decline in open positions during July, signaling a stabilizing job market. However, the Conference Board's consumer confidence index unexpectedly fell in August, revealing a possible shift in consumer sentiment.

Tuesday's market movements occurred after the S&P 500 achieved its first consecutive two-day gain of the month. On Monday, the benchmark index saw an increase of 0.6%, while the Nasdaq rose by 0.8%. The Dow also surged by 200 points in the previous session.

As we approach the end of August's trading month, the Dow is currently on track to conclude with a 2.8% decrease. Simultaneously, the S&P 500 and Nasdaq are positioned for losses of 3.4% and 4.5%, respectively, underscoring the month's challenging market conditions.

Top Movers: Under $10

Axcella Health Inc. (AXLA) is up 200.44% today to trade at the current level of $0.34. This comes after the U.S. Patent and Trademark Office (USPTO) has granted U.S. Patent No. 11,737,999 with claims covering methods of use of Candidate AXA1125, for treating a subject having post-acute sequelae of COVID-19 (PASC), a/k/a Long COVID, particularly fatigue.

Big Lots Inc. (BIG) zoomed 29.20% in today’s trade to $8.11 after reporting a smaller loss than analysts were expecting. The retailer's second-quarter revenue came in above expectations at $1.4 billion.

In current trading, Globalstar Inc. (GSAT) stock is at $1.32 following news that Paul E. Jacobs, Ph.D., founder and CEO of XCOM Labs and former CEO and Executive Chairman of Qualcomm, has been appointed CEO of Globalstar, effective immediately.

Iris Energy Limited (IREN) rose 17.70% in the early hours of today's trading to move at $5.07. The strong performance of IREN stock came as investors were encouraged by news that the company purchased NVIDIA’s latest-generation artificial intelligence (“AI”) H100 GPUs.

In the current trading session, Ginkgo Bioworks Holdings Inc. (DNA) jumped 22.07% to $2.18 over a previous close of $1.79 after announcing a five-year strategic cloud and AI partnership with Google Cloud.

Ex-Dividends Stocks

AGNC Investment Corp. (AGNC) 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 $0.12 per share. The company has fixed August 31 as the record date for the same and will pay the actual dividend on September 12. Last year, the company distributed a total of $1.44 to its shareholders. Based on the last year's worth of payments, AGNC has a trailing yield of 14.32% on the current stock price of $10.06.

Another stock that is shelling out dividends tomorrow is The Allstate Corporation (ALL), having a market capitalization of $27.68B. It will pay a dividend of $0.89 per share, the payment date of which is October 02. Currently, the stock is trading at a trailing dividend yield of 3.37%.

Shares of CSX Corporation (CSX) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.11 per share, and in the last 12 months, the company paid a total of $0.44 per share. Last year's total dividend payments show that CSX has a trailing yield of 1.42% on the current share price of $31.00.

Apple Hospitality REIT Inc. (APLE) is also set to go ex-dividend tomorrow. The next dividend payment from APLE will amount to $0.08 per share. August 31 has been designated as the record date for this dividend, with the actual payout scheduled for September 15. In the previous year, APLE distributed a total of $0.96 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for APLE stands at 6.35% based on the current stock price of $15.11.

Arch Resources Inc. (ARCH) will be paying out a dividend of $1 per share to shareholders holding their shares as of the close of the business hours on the record date of August 31. Over the past 12 months, ARCH has paid out a total of $1.00 per share in dividends. Based on the total dividends paid out last year, ARCH boasts an impressive trailing yield of 0.74% on the current share price of $134.30.

Crypto Market Highlights

Most Shorted Stocks

bluebird bio Inc. (BLUE) was one of the most shorted stocks as of latest short interest figures, with 24.73% 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 6.2. This represents a change of -2390000 shares, which corresponds to a -8.29% decrease in short interest. The total value of the shares held short is estimated to be around $100.25 million. The average daily volume stands at 4.33M shares, and the market capitalization of the company is $380.28M.

The Twist Bioscience Corporation with the symbol TWST currently has a short interest of 23.83%. The short interest has changed by 260000 shares. The days to cover ratio stands at 11.4. The estimated value of the shares held short is approximately $551.75 million. On an average day, 1.13M shares are traded, with the company's market capitalization totaling $1.16B.

For the stock Eos Energy Enterprises Inc. (EOSE), the current short interest is at 23.08%. This represents a significant short interest change of 2530000 shares, corresponding to a short interest percentage increase of +8.91%. The days needed to cover the short positions amount to 3.7. The approximate worth of the shares held short is $49.11 million.

The stock BYND has a current short interest of 35.58%. The short interest percentage has experienced decrease of -1.33% while there was a change of -290000 shares in short interest. The ratio indicating the time required to cover short positions is 6.9. The calculated worth of the shorted shares amounts to around $118.33 million. Trading activity averages at 3.15M shares per day, while the company's market capitalization stands at $787.07M.

EV Stocks to Watch

According to our ST Score evaluation, BorgWarner Inc. (BWA) emerges as a high-quality stock in the EV industry, attaining an impressive score of 62.0. The stock's profitability, performance, growth, and Piotroski Score are strong. However, its financial strength are weak. Additionally, it is neutral in terms of value, stock sentiment, and forecast.

Our ST Score also classifies Tesla Inc. (TSLA) as a high-quality EV stock today, presenting a Score of 61.0. The stock has strong fundamentals in terms of profitability, growth, financial strength, and Piotroski Score. However, it has weak value. The performance, stock sentiment, and forecast are neutral.

Another stock in the category, Honda Motor Co. Ltd. (HMC) has the ST Score of 61.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, performance, and Piotroski Score but weak in growth, and financial strength. Stock sentiment, and forecast suggest a neutral outlook.

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

Toyota Motor Corporation (TM) currently has the ST Score of 58.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, performance, and Piotroski Score, while its weak points are its growth, and financial strength. The stock's value, stock sentiment, and forecast indicate a neutral outlook.