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Equity Actions

STM

STMicroelectronics (NYSE:STM) has seen a 17.07% increase in short interest since its last report, with 4.33 million shares sold short, representing 0.48% of available shares. The average time to cover these short positions is 1.14 days. While an increase in short interest can indicate bearish sentiment, STM's short interest is below its peer group average of 3.77%. This information suggests investor caution but does not necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:30 pm

GRMN

GSAT

SIRI

SPCE

UFO

The Procure Space ETF (UFO) remains steady as the space sector's significance is highlighted ahead of the 2024 U.S. election. The ETF, which has risen over 8% since October 23, includes key holdings such as Virgin Galactic (SPCE), Garmin (GRMN), Sirius XM (SIRI), and Globestar (GSAT). The space sector's role in various industries like healthcare and agriculture is expected to be a focal point in the election. UFO's chart shows a bullish trend with potential resistance and support levels identified.

Portfolio Pulse from Melanie Schaffer

December 07, 2023 | 5:27 pm

CHTR

Charter Communications (NASDAQ:CHTR) has seen an equal mix of bullish and bearish options trading, with 4 puts and 4 calls observed. The trades suggest a price range of $360 to $390 for CHTR. Significant options trades include both bullish and bearish sentiments with varying strike prices and expiration dates. The company, a result of a 2016 merger, serves 30 million residential and 2 million commercial accounts. CHTR's current market status shows a trading volume of 350,824 with a stable price of $361.98 and an RSI indicating it may be approaching oversold. An earnings announcement is expected in 50 days. Analysts have set an average target price of $490, with Benchmark maintaining a Buy rating.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:16 pm

FRSX

Foresight Autonomous Holdings Ltd. (FRSX) announced the pricing of a $4.5 million registered direct offering, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:13 pm

PHIO

Phio Pharmaceuticals' stock is trading lower following the company's announcement of exercising warrants to raise $2.8 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:12 pm

BETS

Bit Brother Ltd (NASDAQ:BETS) shares plummeted by 37% to $0.022 after announcing a registered direct offering of $12.0 million worth of Class A ordinary shares and warrants. The offering includes 184,615,385 shares at $0.065 each, with Class D and E warrants exercisable at $0.06 and $0.13 respectively. The deal is expected to close around December 8, with Maxim Group LLC as the placement agent. Additionally, Bit Brother received a Certificate of Occupancy for its new cryptocurrency mining farm in Texas, planning to start operations in early 2024 with a goal of producing 12 Bitcoin per month.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 5:01 pm

AVGO

Broadcom Inc. (NYSE:AVGO) has seen a 17.62% decrease in short interest since its last report, with 7.44 million shares sold short, representing 1.73% of its float. The average time to cover these short positions is 3.75 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Broadcom's short interest is below its peer group average of 3.71%. While a decline in short interest does not necessarily predict a rise in stock price, it suggests fewer traders are betting against the stock.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm

CRWD

CrowdStrike Holdings (NYSE:CRWD) has seen a 14.29% increase in short interest since the last report, with 6.15 million shares sold short, representing 2.8% of available shares. It would take about 2.25 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, CRWD has less short interest compared to its peers' average of 4.76%. The rise in short interest doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm

INTC

Intel Corporation (NYSE:INTC) has seen a 25.19% increase in short interest since its last report, with 71.29 million shares sold short, representing 1.69% of available shares. The average time to cover these short positions is 1.97 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Intel's short interest is below its peer group average of 3.71%.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm

ADP

Automatic Data Processing (NASDAQ:ADP) is analyzed against competitors in the Professional Services industry. ADP shows favorable growth potential with a PE ratio slightly below the industry average, a low PB ratio suggesting undervaluation, and a high PS ratio indicating potential overvaluation. The company's ROE, EBITDA, gross profit, and revenue growth are all significantly above industry averages, demonstrating strong financial performance. ADP's lower debt-to-equity ratio compared to its top 4 peers suggests a stronger financial position with less reliance on debt.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 4:00 pm