Streetbeat News

Equity Actions

NRIM

Northrim (NRIM) has announced authorization for the repurchase of up to an additional 110,000 shares of its common stock. This move indicates the company's confidence in its financial stability and a commitment to delivering shareholder value. The repurchase program may also signal management's belief that the stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 9:17 pm

CBST

GTBIF

JUSHF

Virginia is progressing towards a regulated cannabis market with the Senate Subcommittee on Cannabis approving Senate Bill 448, aiming to create an equitable marketplace. The bill, merged with SB 423, seeks to avoid preferential treatment for medical marijuana companies. Existing medical cannabis companies like The Cannabist Company Holdings Inc. (CBST), Green Thumb Industries Inc. (GTBIF), and Jushi Holdings Inc. (JUSHF) are expected to have an early advantage. The market is projected to be limited in competition initially, with 300+ retail licenses planned. Social equity is a focus, with a 6% excise tax funding related initiatives. A timeline for the market's development has been set, with recreational sales by medical incumbents starting July 1, 2024. Roanoke College is launching a Cannabis Studies Program in fall 2024.

Portfolio Pulse from Nicolás Jose Rodriguez

January 26, 2024 | 9:07 pm

PALI

Palisade Bio has filed a request with the SEC to withdraw its registration statement, indicating a potential shift towards private offerings. The company also asked for fees paid to the SEC to be credited for future filings.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 9:07 pm

ASML

ASML Holding (NASDAQ:ASML) has received mixed analyst ratings over the past three months, with 4 analysts offering bullish and somewhat bullish perspectives. The average 12-month price target is $957.0, a significant increase from the previous $782.75, indicating a positive sentiment shift. Analysts from Susquehanna, Raymond James, and JP Morgan have raised their price targets, reflecting confidence in ASML's market performance and financial health. ASML, a leader in photolithography systems for semiconductor manufacturing, shows strong financial indicators such as revenue growth, net margin, ROE, and ROA, and maintains a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 9:01 pm

DINO

HF Sinclair Inc. (NYSE:DINO) has seen a slight increase in its stock price by 0.09% in the current market session to $53.77, but experienced a decrease over the past month and year by 1.15% and 1.77%, respectively. The company's P/E ratio of 4.67 is lower than the industry average of 10.44, which could suggest that the stock is undervalued or that investors expect lower future performance.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 8:15 pm

LMT

Lockheed Martin (NYSE:LMT) has seen significant options trading activity, with a mix of bearish and bullish sentiment among investors. Analysis of 14 trades shows 42% bullish and 57% bearish positions, with an equal number of puts and calls traded. Whales target a price range of $400 to $660 for LMT over the next 3 months. The stock is currently trading at $429, down 0.47%, with neutral RSI indicators. Analysts have varying ratings on LMT, with a consensus target price of $499.2. Notable ratings include RBC Capital's Sector Perform at $470, Susquehanna's Positive at $540, Citigroup's Buy at $508, Morgan Stanley's Equal-Weight at $503, and UBS's Neutral at $475.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 8:00 pm

SAP

SAP (NYSE:SAP) has been analyzed by 4 analysts, showing a positive sentiment shift with 2 bullish, 1 somewhat bullish, and 1 indifferent rating. The average 12-month price target for SAP is now $194.0, up 18.29% from the previous $164.0. Analysts from Barclays, Goldman Sachs, and BMO Capital have raised their price targets, reflecting optimism in SAP's market performance. Financial insights reveal SAP's strong net margin and ROA, but lower ROE compared to industry benchmarks, and a healthy debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 8:00 pm

OMGA

Omega Therapeutics (NYSE:OMGA) has seen a significant increase in short interest, with 18.59% of its float being shorted, which is higher than the peer group average of 5.62%. The short percent of float has risen 137.72% since the last report, with 3.62 million shares sold short. While this indicates a bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 1.0 day to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 7:45 pm

APPF

CL

CRBP

EHTH

NVVE

PCSA

TKLF

The Nasdaq Composite fell over 50 points while the Dow and S&P 500 traded mixed. Colgate-Palmolive (CL) reported better-than-expected Q4 results with a 7% sales growth. AppFolio (APPF), Corbus Pharmaceuticals (CRBP), and eHealth (EHTH) saw their shares rise after positive financial results and study data. Conversely, Yoshitsu (TKLF), Nuvve Holding (NVVE), and Processa Pharmaceuticals (PCSA) experienced significant drops in share prices due to a direct offering, public offering, and pricing of a public offering, respectively.

Portfolio Pulse from Avi Kapoor

January 26, 2024 | 7:32 pm

ALB

Albemarle Inc. (NYSE:ALB) saw a 1.31% increase in its stock price to $120.00 in the current market session, despite a 16.84% decrease over the past month and a 55.82% drop over the past year. The company's P/E ratio is lower than the Chemicals industry average, suggesting it could be undervalued or expected to perform worse than its peers. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 7:30 pm