Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors and casual readers should watch them.
Here is a look at the Benzinga Stock Whisper Index for the week of Oct. 6, 2023.
Maison Solutions MSS: A fast-growing specialty retailer that offers traditional Asian food to U.S. consumers went public this week and saw interest from investors. The company offered 2.5 million shares at $4 each. Shares traded between $3.76 and $11.48 on Thursday for the company’s market debut and were halted several times.
Low-float IPOs have been hot commodities during their first few days of public trading.
The company plans on using proceeds to fund new store builds and potential acquisitions.
Related Link: Ground Control To Congress, Commencing Countdown Engines Off: How Government Shutdown Could Impact Airlines
Nuvalent Inc NUVL: The clinical-stage biotechnology company saw shares soar over the last week after it announced preliminary Phase 1 data for one of its drugs in trials.
Following the data release, several analysts raised their price targets on the stock with BMO taking a $52 price target to $73 and JPMorgan taking a price target from $51 to $68.
Shares of the company are up over 100% year-to-date in 2023.
American Airlines Group Inc AAL: Airline stocks were among the potential companies that could be hurt by a federal shutdown, which could explain the increased interest in the company over the last week.
Congress passed a stopgap bill that will keep the federal government from shutting down until after a new deadline of Nov. 17. Without the bill, airlines could have faced delays and upset customers at airports. With the passing of the bill, the Federal Aviation Administration is working on getting a new administrator.
Rivian Automotive RIVN: Shares of electric vehicle company Rivian got hammered after the company announced plans to offer $1.5 billion in senior notes via a private offering. CNBC host Jim Cramer was among the names who were worried about the company.
Cramer noted Tesla previously raised a lot of money as they worked to be profitable, but their shares didn’t suffer the same fate as Rivian.
“I happen to think that management here is very good, but I am worried that when you do a convertible like that and the stock goes down like this, it means there’s less faith than there was in Elon Musk and Tesla after year two,” Cramer said.
Rivian shares are down 49% over the last year and dropped 27% in the last week.
A10 Networks Inc ATEN: The application solution company saw shares drop after reporting preliminary third-quarter financial results.
The company said third-quarter revenue is expected to be in the range of $56.5 million to $58.5 million, which is lower than a consensus estimate of $74.65 million. A10 Networks cited industry headwinds impacting the third-quarter results.
For the fourth quarter, the company sees revenue coming in a range of $70 million to $80 million, compared to a consensus estimate of $82 million from analysts. Shares of A10 are down 32% year-to-date in 2023.
Check out the most recent Stock Whisper reports here:
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
Read Next: Rivian Selloff Way Overdone, Says Fund Manager After Stock's 23% Wreck
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
