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Equity Actions

NRBO

NeuroBo Pharmaceuticals announced a 1-for-8 reverse stock split, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:14 pm

CLAR

Warren B. Kanders has reported a 15.4% stake in Clarus Corporation as of December 18, 2023, according to an amended 13D filing with the SEC. The filing also detailed a definitive offer to purchase Clarus's Precision business, which includes Sierra Bullets and Barnes Bullets brands, for $160 million on a cash-free, debt-free basis.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:13 pm

BDRX

Biodexa Pharmaceuticals' stock is trading lower following the announcement of a $5.2 million underwritten public offering. The offering consists of 697,614 units priced at $2.20 per unit.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:12 pm

BLUE

bluebird bio's stock is trading lower following the announcement of a proposed public offering of $150 million of common stock, which could dilute existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:09 pm

TEF

The Spanish government has directed SEPI, a state holding company, to purchase up to a 10% stake in telecommunications company Telefonica.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:09 pm

MULN

Mullen Automotive CEO David Michery addressed shareholders in an open letter regarding the recent reverse stock split. The split was approved at a shareholders meeting on Dec. 18, 2023, as a measure to comply with Nasdaq's minimum bid price requirement and avoid delisting. Michery acknowledged the difficulty of the decision, given past dilutive splits, and the need to raise capital in 2024. He emphasized the importance of remaining on a major exchange for financing and long-term value creation, despite some shareholders' opposition to the reverse split.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:05 pm

MOTS

Motus GI Holdings announced the pricing of a $5 million public offering at $1.50 per share, resulting in its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:02 pm

BECN

Beacon Roofing Supply (NASDAQ:BECN) received mixed ratings from analysts in the last quarter, with an average 12-month price target of $99.00. The high estimate is $119.00 and the low estimate is $80.00. Notably, the average price target increased by 2.33% over the past month. Analysts from Stifel, JP Morgan, Truist Securities, and RBC Capital have adjusted their price targets and ratings, reflecting their views on the company's market dynamics and performance. Beacon Roofing Supply operates in the roofing and building materials industry in the US and Canada, and has shown a revenue growth rate of 7.0% as of September 30, 2023. However, the company faces challenges with a net margin of -10.17%, ROE of -13.93%, and ROA of -4.03%, indicating potential issues in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

LECO

Analysts have provided mixed ratings for Lincoln Electric Holdings (NASDAQ:LECO) in the last quarter, with 1 bullish, 2 indifferent, and 1 bearish. The average 12-month price target is $195.00, a decrease from the previous $201.00. Actions by analysts include both raised and lowered price targets, reflecting changing market conditions and company performance. Lincoln Electric, a leading manufacturer in welding and cutting products, has shown revenue growth but faces challenges in net margin and debt management. The company's ROE and ROA outperform industry averages.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

INTC

Options trading activity for Intel Corporation (NASDAQ:INTC) shows a bullish trend among investors, with 71% of the detected 45 trades being bullish. The trades include 10 puts worth $848,351 and 35 calls worth $2,635,466, targeting a price range of $25 to $60 over the last 3 months. The largest options spotted suggest a bullish sentiment, with significant trades for calls at strike prices of $30 and $45.50. Intel, a leading chipmaker, is currently trading at $45.55 with a potential overbought RSI indicator and an earnings announcement expected in 37 days. Analyst ratings from B of A Securities, Benchmark, and Raymond James have set target prices ranging from $48 to $52, with an average target price of $50.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm