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AULT

Ault Alliance, Inc. (NYSE:AULT) announced the approval of a 1-for-25 reverse stock split of its common stock, effective January 16, 2024. The stock will trade on a split-adjusted basis starting January 17, 2024. The reverse stock split was approved by stockholders at the annual meeting, where they also elected seven director nominees and ratified Marcum LLP as the independent accounting firm. The reverse stock split will affect all issued and outstanding shares and the number of shares available under equity incentive plans. No fractional shares will be issued; stockholders will receive cash for fractional shares. Computershare is the exchange and transfer agent for the reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:34 pm

MNTS

Momentus Inc. (NASDAQ:MNTS) shares dropped 7.4% after announcing a securities purchase agreement with a U.S. institutional investor for the sale of 3,687,000 shares at $1.085 each, and warrants. The deal is expected to raise about $4 million in gross proceeds, with additional warrants to purchase 3,687,000 shares at $0.96. The offering is set to close around January 17, with A.G.P./Alliance Global Partners as the placement agent. MNTS has a 52-week range of $0.75 to $66.50.

Portfolio Pulse from Henry Khederian

January 16, 2024 | 5:33 pm

HPE

Bernstein analyst Toni Sacconaghi has downgraded Hewlett Packard (HPE) from Outperform to Market Perform and reduced the price target from $20 to $17.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:32 pm

LVO

LiveOne, Inc. (NASDAQ:LVO) reported preliminary unaudited financial results for Q3 FY 2024, with revenues exceeding $31M for the quarter and $87M for the fiscal year to date. The Audio Division achieved a record $80M in revenue for the first nine months, marking a 25% year-over-year increase. Additionally, LiveOne expanded its partnership with Tesla to include the Truck Division. The company has around $11M in cash and $28M in short-term assets. These results are preliminary and unaudited, and adjustments may occur during the quarter-end closing procedures.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:32 pm

ABLV

ANTE

CAUD

CPOP

CRGE

GDC

LQR

PALT

RUM

SATS

During Tuesday's intraday session, several communication services stocks experienced significant movements. Able View Global (ABLV) saw a 14.0% increase, Rumble (RUM) rose by 11.83%, Paltalk (PALT) went up by 11.36%, EchoStar (SATS) increased by 8.6%, and Pop Culture Gr (CPOP) rose by 7.27%. Conversely, LQR House (LQR) dropped by 42.6%, Collective Audience (CAUD) fell by 26.07%, Charge Enterprises (CRGE) declined by 25.11%, AirNet Technology (ANTE) fell by 11.32%, GD Culture Group (GDC) decreased by 11.12%, and TuanChe (TC) declined by 11.02%.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:31 pm

AENT

DOGZ

EDTK

EDUC

MGOL

NEGG

QSG

TAST

VNCE

During Tuesday's intraday session, several consumer discretionary stocks experienced significant movements. Alliance Entertainment (AENT) led the gainers with a 27.7% increase, while MGO Global (MGOL) saw the largest decline among the losers, dropping 20.3%. Educational Development (EDUC) also gained after its Q3 earnings release 3 days ago. Other notable movers included QuantaSing Group (QSG), Carrols Restaurant Group (TAST), and Skillful Craftsman (EDTK) on the gainers' side, and Vince Holding (VNCE), Dogness (Intl) (DOGZ), and Newegg Commerce (NEGG) among the losers.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:31 pm

ACRS

ALLK

ASLN

AVTX

AXDX

AZTR

BCEL

CATX

EKSO

MOR

VXRT

ZJYL

Health care stocks experienced significant movement in Tuesday's intraday session. Vaxart, Jin Medical International, Aclaris Therapeutics, Ekso Bionics Holdings, MorphoSys, and Anitra saw their shares rise, with increases ranging from 17.55% to 37.5%. Conversely, Allakos, Accelerate Diagnostics, Atreca, Perspective Therapeutics, ASLAN Pharma, and Avalo Therapeutics experienced declines between 17.49% and 58.5%.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:31 pm

APLD

DATS

PHUN

In Tuesday's intraday session, several IT stocks experienced significant movements. Phunware (PHUN) saw a massive increase of 268.9%, while DatChat (DATS) and SEALSQ (LAES) also posted strong gains. On the downside, Applied Digital (APLD) dropped 22.1% after Q2 earnings release, with Minim (MINM), Inuvo (INUV), The9 (NCTY), Porch Group (PRCH), and Nvni Group (NVNI) also experiencing declines.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:31 pm

COHR

Coherent Inc.'s stock (COHR) is trading higher following an upgrade by Barclays from Equal-Weight to Overweight, with a significant increase in the price target from $38 to $60.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:30 pm

Dominion Energy Inc. (NYSE:D) has seen a 0.70% decrease in the current session, trading at $47.00, with a 2.40% drop over the past month and a 24.19% decline over the past year. Investors are examining the company's P/E ratio, which is lower than the Multi-Utilities industry average, suggesting potential undervaluation or weaker growth prospects. The P/E ratio should be considered alongside other financial metrics and industry trends for a comprehensive analysis.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:30 pm