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Equity Actions

SGBX

Safe & Green Holdings Corp (NASDAQ:SGBX) shares dropped 16.7% to $0.12 after announcing a 1-for-20 reverse stock split effective May 2, aimed at meeting Nasdaq's minimum bid price requirements and improving marketability. The decision, approved by stockholders in December 2023, also involves proportionate adjustments to all outstanding options, warrants, and equity awards. CEO Paul Galvin remains optimistic about the company's future. Year to date, SGBX shares have declined by 69.19%, underperforming historical averages.

Portfolio Pulse from Henry Khederian

April 30, 2024 | 4:28 pm

LUCY

Innovative Eyewear Inc (NASDAQ:LUCY) shares dropped 19% to $0.195 after announcing a direct offering of 4,200,822 shares at $0.244 each, along with equal unregistered warrants, aiming to raise about $1.025 million for working capital and general purposes. The offering is expected to close by May 1. Over the past year, LUCY shares have plummeted by 91.23%, with a significant loss for investors who bought at the beginning of the year or on March 1. The stock's all-time high is $5.89, and it currently has a neutral RSI of 42.52.

Portfolio Pulse from Henry Khederian

April 30, 2024 | 4:27 pm

LUCY

Innovative Eyewear's stock trades lower following the announcement of a $1.025 million registered direct offering.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:26 pm

MARA

During Benzinga's 'Crypto Revolution' Virtual Conference, Marathon Digital CEO Fred Thiel commented on the early phase of Bitcoin ETFs, noting that retail investors are actively investing in them, while institutional investors are still cautiously exploring the space.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:22 pm

AAP

Third Point, a notable investment firm, has announced a new position in Advance Auto Parts (AAP), detailing their investment thesis in their quarterly letter. This move has attracted attention to AAP's stock, as Third Point's investment decisions are closely watched by the market.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:15 pm

CVS

Deep-pocketed investors have shown a bullish trend in CVS Health (NYSE:CVS) options trading, with a significant portion of activity leaning towards bullish sentiments. Benzinga's options scanner revealed 12 extraordinary activities, with a price target range from $50.0 to $72.0. The trading includes both puts and calls, with the largest trades indicating a mix of bullish and bearish sentiments. CVS Health, a major healthcare services provider, has seen its stock price slightly down with analysts giving mixed reviews but generally positive price targets.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 4:01 pm

SG

In the last three months, 14 analysts have provided diverse ratings on Sweetgreen (NYSE:SG), with recent updates showing a shift towards more neutral and somewhat bullish stances. The average 12-month price target has been raised to $20.07, indicating a 37.65% increase from the previous target. Sweetgreen's financials reveal a solid revenue growth rate of 29.06% but challenges in profitability and efficiency, with a net margin of -17.91% and ROE of -5.58%. The company's market capitalization is below industry averages, yet it has a healthy debt-to-equity ratio of 0.63.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 4:00 pm

CL

Analyst ratings for Colgate-Palmolive (NYSE:CL) show a mix of bullish and bearish perspectives with 10 analysts providing recent ratings. The average 12-month price target is set at $93.4, indicating a 4.81% increase from the previous target. Analysts from firms like Barclays, Wells Fargo, and Goldman Sachs have raised their price targets, reflecting optimism about the company's performance. Colgate-Palmolive's financials demonstrate strong growth, profitability, and market presence, with significant revenue growth and high ROE and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 4:00 pm

FTXN

IEO

MPC

MPLX

Marathon Petroleum Corporation (NYSE:MPC) shares fell after reporting Q1 FY24 results with revenue of $33.211 billion, surpassing estimates but with a decline in adjusted EBITDA to $3.26 billion from $5.22 billion year-over-year. Refining & Marketing segment adjusted EBITDA also dropped significantly due to lower market crack spreads and throughputs. Despite this, adjusted EPS was $2.78, above consensus. The company announced a $5 billion share repurchase authorization, adding to an existing $3.8 billion, and returned $2.2 billion through share repurchases and $299 million via dividends in Q1. MPLX LP (NYSE:MPLX), in which Marathon Petroleum holds a significant interest, reported earnings per limited partner unit of $0.98 on sales of $2.85 billion, missing estimates. MPC shares are down 6.6%.

Portfolio Pulse from Lekha Gupta

April 30, 2024 | 3:59 pm

CVNA

Deep-pocketed investors show a bearish sentiment towards Carvana (NYSE:CVNA), with unusual options activity detected. The activity includes 20 extraordinary options, with a price band focus between $60.0 and $130.0. The market mood is divided, with 35% bullish and 50% bearish. Notable trades include both calls and puts, with a significant call option sweep indicating a bearish sentiment. Carvana's current market position shows a trading volume of 957,023, with a price decrease of -3.3%, and an RSI indicating a neutral position. Analysts have mixed ratings, with an average target price of $75.0.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 3:31 pm