Streetbeat News

Equity Actions

BA

Boeing's (NYSE:BA) short interest has increased by 37.4%, with 10.24 million shares sold short, representing 1.69% of available shares. It would take 1.77 days to cover these short positions. While an increase in short interest can indicate bearish sentiment, Boeing has less short interest compared to its peer group average of 2.98%. This data does not necessarily predict a near-term price drop but suggests traders are shorting more shares.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 3:00 pm

BAC

Benzinga reported a surge in options activity for Bank of America (NYSE:BAC), with a bearish sentiment dominating among big-money traders. Out of 12 options trades, 11 were calls and 1 was a put, with a total value of $919,984 and $55,055 respectively. The predicted price range for BAC over the next three months is $27.0 to $33.0. The average open interest is 41,368.8 with a total volume of 11,637.00. Analysts have mixed views, with Keefe, Bruyette & Woods upgrading BAC to Market Perform with a target of $30, and Oppenheimer maintaining an Outperform rating with a target of $51. BAC's current stock price is $29.95, with a potential overbought RSI and the next earnings report due in 52 days.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 2:46 pm

TCOM

Trip.Com Group Ltd (NYSE:TCOM) reported a 99% increase in third-quarter revenue to $1.89 billion and adjusted earnings per ADS of $1.00. Bookings on the platform rose over 100% year-over-year, with domestic hotel bookings up over 90% and outbound hotel and air reservations at 80% of pre-Covid levels. The company repurchased $120 million of its stock and announced a new capital return policy starting in 2024. Despite the positive results, TCOM shares dropped 5.51% to $34.65.

Portfolio Pulse from Adam Eckert

November 21, 2023 | 2:34 pm

AIRE

reAlpha, a real estate investment company, has announced the pricing of its public offering at $8 million, which will consist of 1.6 million units priced at $5 per unit. Each unit includes one share of common stock and one warrant to purchase additional stock.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:26 pm

RGF

The Real Good Food Company, Inc. (NASDAQ:RGF) has signed a definitive debt refinancing agreement with PMC Financial Services Group, LLC to enhance liquidity by up to $15 million. The agreement includes a new $45 million second lien loan that will pay down $20 million of existing term loans and part of the revolving credit facility, increasing the facility's capacity to $70 million. The loan matures on December 31, 2025, with a 9% PIK interest and 9% cash interest. PMC will receive penny warrants for a 5% equity interest in RGF, exercisable until November 20, 2033. The Company's equipment loan terms were also amended to be interest only until May 31, 2024. This refinancing, along with $15.4 million from a recent equity offering, is expected to strengthen RGF's balance sheet and reduce annual cash debt service by $6 million, aiding in the Company's expansion and sustainable growth.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:25 pm

COSM

Cosmos Health reaffirms its 2026 financial targets with gross annual revenue over $180M and annual EBITDA above $20M. The company plans to spin off its R&D division into a separate public entity. Despite its achievements and growth prospects, Cosmos Health notes a discrepancy between its stock price and book value, which is threefold the current share price. In Q3 2023, Cosmos Health began a stock buyback program and is looking into further measures to support its shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:06 pm

COSM

Cosmos Health's total stockholders' equity increased by approximately $5 million to $44.2 million from $39.3 million in December 2022. The company's total assets also reached a record $71.5 million, resulting in a Stockholders' Equity to Assets ratio of over 60%, reflecting a conservative financing approach.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:05 pm

CMCSA

INTC

AI21 has completed a $208 million Series C funding round, reaching a valuation of $1.4 billion with investments from Intel Capital and Comcast Ventures. This funding increases AI21's total capital to $336 million, aiming to accelerate the adoption of AI-first enterprise solutions. Intel Capital's Anthony Lin highlighted AI21's full-stack offering, while AI21's co-CEO Ori Goshen emphasized the importance of catering to enterprises' specific needs.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 2:00 pm

GANX

Gain Therapeutics has announced the pricing of a public offering and a concurrent private placement. The public offering is priced at $9.4 million for 2,213,044 shares at $2.005 per share, including accompanying warrants. The private placement will occur upon completion of the public offering, with 2,500,088 shares priced at $2 per share.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:57 pm

GPAK

Gamer Pakistan (GPAK) has announced a share repurchase program authorizing the buyback of up to $1 million worth of its shares. This move is typically seen as a sign of confidence by the company's management in the firm's future prospects and financial health. Share repurchase programs can often lead to a temporary increase in the stock price due to the reduced supply of shares and the positive signal it sends to the market.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:31 pm