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FCUV

HOLO

OST

PRST

UPLD

In Monday's after-market session, several Information Technology stocks showed notable movements. Ostin Technology Group (OST) led the gainers with a 58.2% increase, while MicroCloud Hologram (HOLO) experienced the largest drop among the losers, falling 27.5%. Other notable movers included Focus Universal (FCUV), Presto Automation (PRST), and Upland Software (UPLD) among others, reflecting a mix of positive and negative shifts in the sector.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 9:30 pm

AMD

AVGO

MSFT

NVDA

TSM

The AI sector is experiencing significant growth, with AI5 stocks - Microsoft, TSMC, Broadcom, Nvidia, and AMD leading the way. Nvidia has seen the highest stock increase at 239.50%, while TSMC is considered the most undervalued based on P/E and EV/Sales ratios. Susquehanna rated TSM stock as Positive with a 26%+ upside.

Portfolio Pulse from Surbhi Jain

February 19, 2024 | 9:23 pm

ETHUSD

Ethereum (ETH) has seen a 15% weekly gain, nearing the $3,000 mark, outperforming Bitcoin's 9% gain. Significant whale transactions and a bullish outlook from analysts, including Ethereum's net supply reduction post-The Merge, contribute to the positive momentum. The SEC is reviewing applications for a spot Ether ETF, with major firms involved. The upcoming Dencun hard fork in March 2024 is also anticipated to impact Ethereum positively.

Portfolio Pulse from Khyathi Dalal

February 19, 2024 | 9:11 pm

AEIS

Advanced Energy Industries (NYSE:AEIS) has seen a decrease in short interest, with 2.96 million shares sold short, representing 10.95% of its float. This is a decline of 4.95% from its last report, requiring 16.83 days on average for traders to cover their short positions. The decrease in short interest could indicate a more bullish sentiment towards AEIS compared to its peers, where the average short interest as a percentage of float is 6.46%.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:45 pm

QuantumScape's (NYSE:QS) short interest has decreased by 4.1%, now representing 15.91% of its float with 55.72 million shares sold short. It would take about 6.56 days to cover all short positions. This decrease in short interest could indicate a more bullish sentiment towards QS, although it's not a direct predictor of stock price movement. QuantumScape has a higher short interest compared to its peers, with an average of 7.75% in the peer group.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:45 pm

CFLT

Confluent (NYSE:CFLT) has seen a 7.09% increase in its short percent of float, now at 10.42% of all shares available for trading. This indicates a bearish market sentiment towards CFLT, as more traders are betting on its price to fall. However, an increase in short interest can sometimes be bullish, suggesting potential for a short squeeze. Confluent's short interest is higher than its peer group average of 6.25%, suggesting it is under more scrutiny than its competitors.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:45 pm

ALB

BHP

LIT

NIKL

The EV battery metal market is facing a downturn, with significant price drops in lithium and nickel leading to paused projects and mine shutdowns. Albemarle Corp. is reevaluating a major lithium processing plant project in South Carolina due to these price declines and a slowdown in EV sales. Glencore has suspended operations at a nickel mine in New Caledonia, and BHP Group may temporarily close its Australian nickel business. The downturn has also affected related ETFs, with the Global X Lithium & Battery Tech ETF and the Sprott Nickel Miners ETF experiencing significant declines. Despite current challenges, there's potential for recovery if EV demand surges again.

Portfolio Pulse from Piero Cingari

February 19, 2024 | 8:40 pm

ORLY

O'Reilly Automotive's (NYSE:ORLY) short interest has increased by 10.7% since the last report, with 1.21 million shares sold short, representing 2.07% of its float. It would take approximately 2.98 days to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards ORLY, although it has less short interest compared to its peer group average of 13.22%. This information suggests investors are showing increased bearishness but ORLY is still below the industry average for short interest.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:30 pm

PSTG

Pure Storage (NYSE:PSTG) has seen a decrease in short interest, now at 4.36% of its float, lower than the peer group average of 6.85%. This reduction from 11.21 million shares suggests a more bullish sentiment among traders, despite not guaranteeing a near-term price rise. The coverage period for short positions is approximately 2.95 days based on current trading volumes.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:30 pm

BIIB

Biogen's (NYSE:BIIB) short interest has decreased by 18.77% since the last report, with 3.06 million shares sold short, representing 2.38% of its float. This decline in short interest could indicate a more bullish sentiment towards BIIB among traders. Compared to its peers, BIIB has a lower short interest percentage of float, with the average for its peer group being 4.64%.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 8:30 pm