12 Information Technology Stocks Moving In Thursday's Intraday Session
Portfolio Pulse from Benzinga Insights
In Thursday's intraday session, several IT stocks experienced significant movements. Cyngn, SEALSQ, Powerbridge Technologies, Verint Systems, Semtech, and GSI Technology were among the gainers, with Cyngn leading at an 83% increase. Verint Systems and Semtech both released Q3 earnings reports the previous day. On the losing side, MicroAlgo saw the largest drop of 51.1%, followed by Sprinklr, which also released its Q3 earnings. Other losers included Phunware, Red Cat Holdings, Bel Fuse, and Near Intelligence.
December 07, 2023 | 5:31 pm
News sentiment analysis
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NEGATIVE IMPACT
Bel Fuse's shares dropped by 15.82% to $45.5, with a market cap of $581.1 million.
The decline in Bel Fuse's stock price may be a reaction to market conditions or company-specific news that has not been favorably received by investors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Sprinklr's shares fell by 32.04% to $11.35 after their Q3 earnings release, with a market cap of $3.0 billion.
The significant drop in Sprinklr's stock price is likely due to the market's negative reaction to the Q3 earnings report, indicating potential concerns over the company's performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
MicroAlgo's stock plummeted by 51.1% to $4.68, with a market cap of $205.2 million.
The drastic decline in MicroAlgo's stock price suggests negative investor sentiment, possibly due to disappointing company news or unfavorable market conditions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Near Intelligence's stock declined by 11.93% to $0.17, with a market cap of $9.0 million.
The decrease in Near Intelligence's stock price suggests a negative investor response, potentially due to less favorable news or market trends affecting the company.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Phunware's stock decreased by 27.82% to $0.09, with a market cap of $12.4 million.
Phunware's stock decline may reflect investor disappointment or broader market trends negatively impacting the company's valuation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Red Cat Holdings' stock fell by 26.99% to $0.56, with a market cap of $30.8 million.
The drop in Red Cat Holdings' stock price could be due to negative investor sentiment or adverse developments within the company or its industry.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Cyngn shares surged 83.0% to $0.45, with a market cap of $18.6 million.
The significant intraday rise in Cyngn's stock price suggests strong investor interest, potentially due to positive developments within the company or favorable market conditions for its sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
GSI Technology's stock increased by 18.1% to $2.87, with a market cap of $72.3 million.
GSI Technology's stock appreciation could be attributed to positive market sentiment or company-specific news that has attracted investor interest.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
SEALSQ stock increased by 36.19% to $1.27, with a market cap of $11.4 million.
The substantial gain in SEALSQ's stock price could be due to market reactions to recent company news or broader industry trends affecting investor sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
POSITIVE IMPACT
Powerbridge Technologies' stock rose by 22.46% to $1.25, with a market cap of $5.8 million.
The increase in Powerbridge Technologies' stock price indicates positive investor response, possibly driven by recent company achievements or favorable sector news.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 90
POSITIVE IMPACT
Semtech's stock rose by 20.58% to $20.14 after their Q3 earnings report, with a market cap of $1.2 billion.
Semtech's stock price increase is likely a result of the market's positive reaction to the Q3 earnings report, suggesting solid financial performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Verint Systems' shares increased by 21.91% to $29.3 following their Q3 earnings report, with a market cap of $1.8 billion.
The positive movement in Verint Systems' stock is likely due to investor approval of the Q3 earnings report, indicating strong company performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100