Author: Avi Kapoor

As of March 20, 2024, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Constellation Energy Corporation (NASDAQ:CEG)

• On March 19, Wells Fargo analyst Neil Kalton maintained Constellation Energy with an Overweight and raised the price target from $175 to $185. The company’s stock gained around 31% over the past month and has a 52-week high of $185.58 .
• RSI Value: 70.29
• CEG Price Action: Shares of Constellation Energy rose 2.1% to close at $172.41 on Tuesday.

Vistra Corp. (NYSE:VST)

• On March 7, Vistra announced expansion of its board of directors with the appointment of Bill Pitesa. The company’s stock gained around 38% over the past month and has a 52-week high of $64.74.
• RSI Value: 77.02
• VST Price Action: Shares of Vistra gained 2.3% to close at $63.68 on Tuesday.

NRG Energy, Inc. (NYSE:NRG)

• On Feb. 28, NRG Energy posted better-than-expected fourth-quarter sales. “We delivered very strong financial performance in 2023,” said Larry Coben, NRG Chair, Interim President and Chief Executive Officer. “The Company is well positioned for 2024 and ahead of pace against the plan we laid out at our June 2023 Investor Day. We remain focused on executing against our consumer and capital allocation strategy.” The company’s stock gained around 29% over the past month and has a 52-week high of $66.95.
• RSI Value: 87.45
• NRG Price Action: Shares of NRG Energy gained 2.6% to close at $66.66 on Tuesday.

 

Read More: Micron, Signet Jewelers And 3 Stocks To Watch Heading Into Wednesday

The CNN Money Fear and Greed index showed a slight increase in the overall market sentiment, but the index remained in the “Greed” zone on Tuesday.

U.S. stocks closed higher on Tuesday as the Federal Reserve started its two-day policy meeting. The US central bank is scheduled to announce its policy decision on Tuesday.

Caleres Inc (NYSE:CAL) reported upbeat fourth-quarter results. Comtech Telecommunications Corp. (NASDAQ:CMTL) shares dipped over 25% on Tuesday following weak quarterly results.

On the economic data front, housing starts in the U.S. surged 10.7% month-over-month to an annualized rate of 1.521 million in February, following a 12.3% decline in January. U.S. building permits rose by 1.9% to an annual rate of 1.518 million in February, versus market estimates of 1.495 million.

Most sectors on the S&P 500 closed on a positive note, with energy, consumer discretionary, and utilities stocks recording the biggest gains on Tuesday. However, communication services stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by over 320 points to 39,110.76 on Tuesday. The S&P 500 rose 0.56% at 5,178.51, while the Nasdaq Composite climbed 0.39% at 16,166.79 during Tuesday’s session.

Investors are awaiting earnings results from Signet Jewelers Limited (NYSE:SIG), General Mills, Inc. (NYSE:GIS), and Micron Technology, Inc. (NASDAQ:MU) today.

At a current reading of 70.5, the index remained in the “Greed” zone on Tuesday, versus a prior reading of 69.8.

What is CNN Business Fear & Greed Index?

The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.

 

Read Next: Around $9M Bet On Cardlytics? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Monday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

Cardlytics

• The Trade: Cardlytics, Inc. (NASDAQ:CDLX) 10% owner Clifford Sosin acquired a total of 661,715 shares an average price of $13.55. To acquire these shares, it cost around $8.96 million.
• What’s Happening: On March 18, Cardlytics entered an Equity Distribution Agreement pursuant to which the Company may issue and sell, from time to time up to $50 million.
• What Cardlytics Does: Cardlytics Inc operates an advertising platform within financial institutions’ digital channels, which include online, mobile, email, and various real-time notifications.

AerSale

• The Trade: AerSale Corporation (NASDAQ:ASLE) Director Nicolas Finazzo acquired a total of 35,277 shares at an average price of $7.52. To acquire these shares, it cost around $265,360.
• What’s Happening: On March 7, AerSale reported worse-than-expected fourth-quarter financial results.
• What AerSale Does: AerSale Corp is an integrated, diversified leader in aviation aftermarket products and services.

Don’t forget to check out our premarket coverage here

Paragon 28

• The Trade: Paragon 28, Inc. (NYSE:FNA) Director Albert Dacosta bought a total of 28,000 shares at an average price of $9.12. To acquire these shares, it cost around $255,225.
• What’s Happening: On Feb. 29, Paragon 28 posted better-than-expected quarterly sales.
• What Paragon 28 Does: Paragon 28 Inc is a medical devices company that develops, distributes, and sells medical devices in the foot and ankle segment of the orthopedic implant marketplace.

Kinetik Holdings

• The Trade: Kinetik Holdings Inc. (NYSE:KNTK) Director Jamie Welch bought a total of 14,814 shares at an average price of $33.75. The insider spent around $499,972 to buy those shares.
• What’s Happening: On March 14, Kinetik Holdings announced the pricing of a secondary offering of 11,373,801 shares at $33.75 per share.
• What Kinetik Holdings Does: Kinetik is a midstream operator that provides gathering and processing services to gas and oil producers as well as pipeline transportation.

 

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The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Molecular Templates, Inc. (NASDAQ:MTEM)

• On March 4, Molecular Templates issued an update on its programs. The company’s stock fell around 32% over the past five days and has a 52-week low of $2.00 .
• RSI Value: 29.73
• MTEM Price Action: Shares of Molecular Templates fell 24.7% to close at $2.07 on Monday.

Fractyl Health, Inc. (NASDAQ:GUTS)

• On March 12, Fractyl Health released new preclinical findings for the first clinical candidate in its Rejuva pancreatic gene therapy platform. The company’s stock fell around 31% over the past five days. It has a 52-week low of $5.92.
• RSI Value: 26.30
• GUTS Price Action: Shares of Fractyl Health fell 1.6% to close at $6.25 on Monday.

Inspire Veterinary Partners, Inc. (NASDAQ:IVP)

• On Jan. 5, Inspire Veterinary Partners filed a prospectus related to up to a $5 million public offering. The company’s stock fell around 65% over the past month and has a 52-week low of $0.0380.
• RSI Value: 27.91
• IVP Price Action: Shares of Inspire Veterinary Partners fell 8.8% to close at $0.0456 on Monday.

Outset Medical, Inc. (NASDAQ:OM)

• On March 13, Outset Medical announced the appointment of medical technology veteran Brent D. Lang to its board of directors. The company’s shares lost around 26% over the past five days. The company’s 52-week low is $1.9750.
• RSI Value: 25.57
• OM Price Action: Shares of Outset Medical fell 7.8% to close at $2.00 on Monday.

Pacific Biosciences of California, Inc. (NASDAQ:PACB)

• On Feb. 15, Pacific Biosciences posted a narrower-than-expected quarterly loss. “Our team successfully executed its goals in 2023 and launched PacBio on a trajectory this company has never seen before,” said Christian Henry, President and CEO of PacBio. “We continue to build solutions across the workflow, allowing our customers to further scale on HiFi, and we are encouraged to see how researchers are already making discoveries and shifting paradigms with the power and economics of Revio and the extraordinary accuracy of Onso.” The company’s shares fell around 31% over the past month. The company has a 52-week low of $3.63.
• RSI Value: 29.10
• PACB Price Action: Shares of Pacific Biosciences of California fell 3.2% to close at $3.67 on Monday.

 

Read More: Core & Main, Caleres And 3 Stocks To Watch Heading Into Tuesday

The Dow Jones index closed higher by around 75 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.

Cartesian Therapeutics

• The Trade: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A Springer acquired a total of 1,185,872 shares an average price of $0.56. To acquire these shares, it cost around $666,222.
• What’s Happening: On March 18, HC Wainwright & Co. analyst Mitchell Kapoor reiterated Cartesian Therapeutics with a Buy and maintained a $2 price target.
• What Cartesian Therapeutics Does: Cartesian Therapeutics Inc is a clinical-stage biopharmaceutical company.

Aware

• The Trade: Aware, Inc. (NASDAQ:AWRE) CEO and President Robert A Eckel acquired a total of 13,735 shares at at an average price of $1.67. To acquire these shares, it cost around $22,881.
• What’s Happening: On March 12, Aware reported a year-over-year decrease in fourth-quarter EPS results..
• What Aware Does: Aware Inc is a provider of software and services to the biometrics industry. The company’s software products are used in government and commercial biometrics systems to identify or authenticate people.

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LivePerson

• The Trade: LivePerson, Inc. (NASDAQ:LPSN) Director Vanessa Pegueros acquired a total of 5,000 shares at an average price of $1.02. The insider spent around $5,100 to buy those shares.
• What’s Happening: On Feb. 28, LivePerson reported mixed fourth-quarter financial results and issued 2024 total revenue guidance below estimates.
• What LivePerson Does: LivePerson Inc is the enterprise leader in digital customer conversation.

 

Don’t forget to check out our premarket coverage here

 

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga’s extensive database of analyst ratings, including by analyst accuracy .

Below are the ratings of the most accurate analysts for three high-yielding stocks in the materials sector.

Kronos Worldwide, Inc. (NYSE:KRO)

• Dividend Yield: 6.74%
• Goldman Sachs analyst Duffy Fischer maintained a Sell rating and raised the price target from $8 to $9 on March 11, 2024. This analyst has an accuracy rate of 60%.
• Barclays analyst Michael Leithead maintained an Underweight rating and cut the price target from $7 to $6 on Oct. 4, 2023. This analyst has an accuracy rate of 61%.
• Recent News: On March 6, Kronos Worldwide reported better-than-expected fourth-quarter financial results.

The Chemours Company (NYSE:CC)

• Dividend Yield: 3.68%
• UBS analyst Joshua Spector downgraded the stock from Buy to Neutral and cut the price target from $37 to $21 on March 5, 2024. This analyst has an accuracy rate of 61%.
• BMO Capital analyst John McNulty downgraded the stock from Outperform to Underperform and slashed the price target from $45 to $19 on March 1, 2024. This analyst has an accuracy rate of 66%.
• Recent News: On March 6, Chemours provided an update on its internal review. The company announced that the findings of its internal review did not affect the preliminary, unaudited estimates of operating results and other financial measures as of and for the year ended Dec. 31, 2023.

Huntsman Corporation (NYSE:HUN)

• Dividend Yield: 3.95%
• Goldman Sachs analyst Duffy Fischer maintained a Sell rating and raised the price target from $25 to $28 on March 5, 2024. This analyst has an accuracy rate of 60%.
• Stifel analyst Vincent Anderson maintained a Buy rating and lowered the price target from $30 to $29 on Jan. 24, 2024. This analyst has an accuracy rate of 74%.
• Recent News: On Feb. 21, Huntsman posted a wider-than-expected quarterly loss.

 

Read More: Investor Sentiment Falls Further, S&P 500 Records Second Weekly Loss

 

As of March 18, 2024, four stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Veritone, Inc. (NASDAQ:VERI)

• On March 12, Veritone reported better-than-expected fourth-quarter revenue results and issued first-quarter guidance. “I am pleased with our performance in the fourth quarter, and extremely excited about our prospects for 2024. For the balance of the past year, we executed and progressed against the strategic initiatives we set in motion at the beginning of 2023, continuing through the first quarter of 2024, which have resulted in a series of transformative actions, including the execution of significant cost reductions and the realignment of our organization,” said Ryan Steelberg, Chairman and Chief Executive Officer of Veritone. The company’s stock gained around 69% over the past five days and has a 52-week high of $6.03 .
• RSI Value: 77.40
• VERI Price Action: Shares of Veritone gained 42.1% to close at $3.88 on Friday.

SoundHound AI, Inc. (NASDAQ:SOUN)

• On Feb. 29, SoundHound AI reported weaker-than-expected fourth-quarter financial results.. The company’s stock gained around 52% over the past five days and has a 52-week high of $10.25.
• RSI Value: 76.17
• SOUN Price Action: Shares of SoundHound AI gained 6.5% to close at $8.91 on Friday.

MicroStrategy Incorporated (NASDAQ:MSTR)

• On March 15, MicroStrategy announced pricing of its offering of convertible senior notes. The company’s stock gained around 153% over the past month has a 52-week high of $1,815.00.
• RSI Value: 72.76
• MSTR Price Action: Shares of MicroStrategy gained 6.3% to close at $1,782.36 on Friday.

Arlo Technologies, Inc. (NYSE:ARLO)

• On Feb. 29, Arlo Technologies reported better-than-expected fourth-quarter financial results. The company’s stock jumped around 40% over the past month and has a 52-week high is $12.50.
• RSI Value: 74.44
• ARLO Price Action: Shares of Arlo Technologies gained 1.3% to close at $12.26 on Friday.

 

Read More: SAIC, StoneCo And 3 Stocks To Watch Heading Into Monday

Shares of Nuvei Corp (NASDAQ:NVEI) rose sharply in today’s pre-market trading following a report indicating the company is in buyout talks with Advent International.

Nuvei shares jumped 14.1% to $24.82 in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• Solidion Technology Inc. (NASDAQ:STI) shares gained 62.1% to $2.82 in pre-market trading after surging around 34% on Friday. The company, last week, announced the pricing of a $3.85 million private placement.
• JOANN Inc. (NASDAQ:JOAN) shares rose 42.6% to $0.3285 in pre-market trading. JOANN entered into an agreement to reduce debt and receive $132 million in new capital and related financial accommodations.
• Brand Engagement Network, Inc. (NASDAQ:BNAI) rose 47.7% to $15.60 in pre-market trading after jumping 40% on Friday.
• 2seventy bio, Inc. (NASDAQ:TSVT) climbed 31% to $5.24 in pre-market trading. The FDA Advisory Committee voted in favor of Bristol Myers Squibb’s and 2seventy Bio’s Abecma for triple-class exposed multiple myeloma in earlier lines of therapy.
• voxeljet AG (NASDAQ:VJET) gained 27.9% to $0.5999 in pre-market trading. The company recently announced it will voluntarily delist its ADSs from Nasdaq and deregister its ADSs. The company also announced the restatement and extension of its loan financing with Anzu.
• Global Gas Corporation (NASDAQ:HGAS) shares rose 21.8% to $1.90 in pre-market trading after falling 25% on Friday.
• AEye, Inc. (NASDAQ:LIDR) gained 21.6% to $1.40 in pre-market trading. AEye is expected to release its financial results for the fourth quarter after the closing bell on March 26, 2024.
• Aurora Cannabis Inc. (NASDAQ:ACB) rose 15.4% to $3.67 in pre-market trading after surging 10% on Friday.
• T Stamp Inc. (NASDAQ:IDAI) shares gained 13.2% to $1.21 in pre-market trading.

Losers

• MMTec, Inc. (NASDAQ:MTC) dipped 15.3% to $1.8601 in pre-market trading after jumping 38% on Friday.
• B. Riley Financial, Inc. (NASDAQ:RILY) fell 11% to $15.65 pre-market trading. B. Riley Financial failed to file its audited results after the end of extension period.
• Nanobiotix S.A. (NASDAQ:NBTX) fell 10.8% to $6.19 in pre-market trading after gaining 10% on Friday.
• Clover Health Investments, Corp. (NASDAQ:CLOV) fell 9.7% to $0.72 in pre-market trading after surging 10% on Friday.
• Shift4 Payments, Inc. (NASDAQ:FOUR) fell 9.1% to $70.50 pre-market trading. The company’s CEO Jared Isaacman said bids from potential contenders failed to sufficiently value the firm, according to Bloomberg News.
• Li Auto Inc. (NASDAQ:LI) declined 5.8% to $35.57 in pre-market trading after gaining around 3% on Friday.
• AlTi Global, Inc. (NASDAQ:ALTI) shares tumbled 6.7% to $5.90 in pre-market trading. AlTi Global posted a loss of 87 cents per share for the fourth quarter, versus a year-ago loss of 21 cents per share. The company’s quarterly sales came in at $91.71 million.
• Geron Corporation (NASDAQ:GERN) shares fell 5.1% to $3.19 in pre-market trading after jumping 92% on Friday. The company announced that the FDA Oncologic Drugs Advisory Committee voted in favor of the clinical benefit/risk profile of imetelstat for the treatment of transfusion-dependent anemia in adult patients with low-to-intermediate-1 risk myelodysplastic syndromes.
• Logitech International S.A. (NASDAQ:LOGI) shares fell 4.8% to $90.14 in pre-market trading. Logitech announced the departure of CFO Chuck Boynton and reaffirmed its 2024 financial outlook.
• Chijet Motor Company, Inc. (NASDAQ:CJET) shares tumbled 12.2% to $0.43 after gaining 52% on Friday.

 

Now Read This: SAIC, StoneCo And 3 Stocks To Watch Heading Into Monday

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Great Ajax Corp. (NYSE:AJX)

• On Feb. 26, Gret Ajax reported worse-than-expected fourth-quarter adjusted EPS results.. The company’s stock fell around 25% over the past month and has a 52-week low of $3.30 .
• RSI Value: 29.64
• AJX Price Action: Shares of Great Ajax fell 0.3% to close at $3.59 on Friday.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

• On March 6, TriplePoint Venture Growth reported worse-than-expected fourth-quarter financial results. “Venture capital markets continued to be challenging in the fourth quarter,” said Jim Labe, chairman and chief executive officer of TPVG. “We remain focused on our established priorities that we believe will enable the Company to navigate the current market environment.” The company’s stock fell around 8% over the past five days. It has a 52-week low of $9.08.
• RSI Value: 25.94
• TPVG Price Action: Shares of TriplePoint Venture Growth BDC fell 0.3% to close at $9.09 on Friday.

AtlasClear Holdings, Inc. (NYSE:ATCH)

• On Feb. 26, AtlasClear said it acquired technology assets from Pacsquare Technologies. The company’s stock fell around 24% over the past month and has a 52-week low of $0.9310.
• RSI Value: 23.76
• ATCH Price Action: Shares of AtlasClear Holdings fell 3.8% to close at $1.54 on Friday.

 

Read More: Insiders Buying United Fire Group And 3 Other Stocks

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

Talos Energy

• The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,114,567 shares an average price of $12.79. To acquire these shares, it cost around $14.26 million.
• What’s Happening: On March 13, Talos Energy filed for shelf of up to 24.7 million shares common stock by selling stockholders.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.

Ball

• The Trade: Ball Corporation (NYSE:BALL) President and CEO Daniel William Fisher acquired a total of 3,869 shares at an average price of $64.56. To acquire these shares, it cost around $249,767.
• What’s Happening: On March 1, Wolfe Research analyst Chris Parkinson initiated coverage on Ball with a Peer Perform rating.
• What Ball Does: Ball is the world’s largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America).

Don’t forget to check out our premarket coverage here

Potbelly

• The Trade: Potbelly Corporation (NASDAQ:PBPB) President and CEO Robert D. Wright bought a total of 1,750 shares at an average price of $11.62. To acquire these shares, it cost around $20,335.
• What’s Happening: On March 7, Potbelly posted downbeat quarterly earnings.
• What Potbelly Does: Potbelly Corp owns and franchises hundreds of limited-service restaurants specializing in sandwiches and salads, shakes.

 

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