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Equity Actions

CISS

C3is shares are trading lower following the announcement of a $7 million upsized underwritten public offering, which typically dilutes existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:32 pm

ACHR

MESA

UAL

Mesa Air Group, Inc. (MESA) stock is surging after announcing amended agreements with United Airlines Holdings, Inc. (UAL) that increase block-hour rates and adjust credit terms. The changes are expected to bring Mesa $63.5 million in additional revenue over the next year and improve liquidity. United also agreed to reduce Mesa's credit facility balance by $2.1 million and forgive a $10.5 million bridge loan in exchange for Mesa's investment in Heart Aerospace. Mesa has sold excess CRJ-900 aircraft and engines for $198 million, using the proceeds to pay down $174.3 million in debt. Mesa's CEO believes these moves will significantly increase contract revenue and margins.

Portfolio Pulse from Erica Kollmann

January 19, 2024 | 3:20 pm

TFC

Nine analysts have recently updated their ratings on Truist Financial Corporation (NYSE:TFC), with a mix of bullish and indifferent stances. The average 12-month price target has been raised to $39.72, up 7.76% from the previous $36.86. Analysts from firms like RBC Capital, Keefe, Bruyette & Woods, and Raymond James have raised their price targets, while Morgan Stanley has lowered theirs. Truist, a regional bank resulting from the merger of BB&T and SunTrust, has seen a revenue decline of -2.99% over the past three months and faces challenges in profitability, asset utilization, and debt management.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 3:01 pm

WTFC

Wintrust Financial Corporation (NASDAQ: WTFC) was analyzed by 5 analysts, showing a shift towards a more bullish stance over the last quarter. The average 12-month price target is now $106.2, up 6.55% from the previous $99.67. Analysts from firms including Keefe, Bruyette & Woods, RBC Capital, Wedbush, Truist Securities, and Citigroup have raised or maintained their price targets and ratings, indicating a positive outlook for WTFC. However, the company faces challenges with a slight revenue decline, below-average net margin, ROE, and ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 3:00 pm

RARE

Ultragenyx Pharmaceutical (NASDAQ:RARE) has been evaluated by four analysts in the past three months, with all four maintaining a 'Somewhat Bullish' stance. The average 12-month price target for RARE is now $100.0, down 11.11% from the previous average, with a high estimate of $130.00 and a low of $72.00. Analysts from Cantor Fitzgerald, Wells Fargo, Morgan Stanley, and Piper Sandler have provided ratings and adjusted price targets, reflecting their views on the company's market position and financial performance. Ultragenyx Pharmaceutical is a biopharmaceutical company focusing on rare and ultra-rare diseases, with products like Crysvita, Dojolvi, and Mepsevii. Financially, the company has a high market capitalization and a positive revenue growth rate of 8.1%, but faces challenges with a net margin of -162.82%, ROE of -198.64%, ROA of -12.52%, and a high debt-to-equity ratio of 1.47.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 3:00 pm

RVSN

Rail Vision Ltd. has entered into a binding term sheet for the purchase and sale of units in a private placement. This financial move indicates the company's efforts to raise capital, potentially to fund operations, growth, or other strategic initiatives. The details of the private placement, such as the number of units, pricing, and the identity of the purchasers, are not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:33 pm

AXP

American Express (NYSE:AXP) has seen a decrease in short interest, with the short percent of float dropping 4.17% since the last report. The company has 6.61 million shares sold short, representing 1.15% of available shares for trading. The current short interest suggests it would take about 2.52 days to cover all short positions. While a decrease in short interest can indicate a more bullish sentiment towards the stock, it does not necessarily predict a price rise. American Express's short interest is below its peer group average of 8.00%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 2:30 pm

AZTR

Azitra Inc. has filed with the SEC for a firm commitment public offering of 3 million shares of its common stock, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:26 pm

AXDX

Accelerate Diagnostics, Inc. (AXDX) has priced an underwritten public offering of approximately $15 million, consisting of units at $1.50 each and pre-funded units at $1.49 each. The offering includes common stock and warrants, with an additional option for underwriters to purchase more shares and/or warrants. The warrants are exercisable at $1.65 per share and the pre-funded warrants at $0.01 per share. The public offering is expected to close on January 23, 2024. Concurrently, a private placement to the Jack W. Schuler Living Trust will sell units at $1.73 per unit, with expected gross proceeds of $4.7 million. William Blair & Company, L.L.C. is the sole book-running manager, and Craig-Hallum Capital Group LLC is the co-manager.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:21 pm

SYK

Stryker Corporation (NYSE:SYK) has seen a 17.95% increase in short interest since its last report, with 4.90 million shares sold short, representing 1.38% of available shares. It would take about 4.57 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Stryker's short interest is below its peer group average of 3.50%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 2:15 pm