Super Micro Computer, Rayonier Advanced Materials And Some Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded slightly higher, with the Dow Jones gaining around 30 points on Tuesday. Here are some big stocks recording losses in today’s session.

• Rayonier Advanced Materials Inc. RYAM fell 30.6% to $6.35. RBC Capital downgraded Rayonier Adv Materials from Outperform to Sector Perform and lowered the price target from $9 to $8.
• Moolec Science SA MLEC dropped 26.8% to $9.50.
• Euronav NV EURN shares fell 16.9% to $13.24.
• ALX Oncology Holdings Inc. ALXO dropped 15.2% to $8.89.
• Wallbox N.V. WBX fell 11.7% to $4.00. UBS maintained Wallbox with a Buy and lowered the price target from $14 to $7.
• Virgin Orbit Holdings, Inc. VORB fell 11.7% to $1.70. Virgin Orbit shared its readiness for the Start Me Up mission for a historic U.K. launch on January 9.
• Sight Sciences, Inc. SGHT fell 10.3% to $11.96 after the company announced preliminary unaudited Q4 and FY22 financial results.
• Sutro Biopharma, Inc. STRO dropped 9.9% to $7.47. Sutro Biopharma announced results from a Phase 1 dose-expansion study of STRO-002 (luvelta) and interim safety data from exploratory cohort C of advanced ovarian cancer treated at the higher dose of luvelta (5.2mg/kg), along with prophylactic pegfilgrastim.
• TDCX Inc. TDCX fell 9.2% to $11.94.
• Arqit Quantum Inc. ARQQ dropped 8.5% to $2.5250.
• Super Micro Computer, Inc. SMCI fell 8.4% to $77.67 after Spruce Point Management issued a bearish report on the stock.
• I-Mab IMAB dropped 8.2% to $5.16.
• e.l.f. Beauty, Inc. ELF fell 6.4% to $52.20.
• Box, Inc. BOX fell 6.3% to $27.96. RBC Capital downgraded Box from Sector Perform to Underperform and lowered the price target from $28 to $24.
• Novonix Limited NVX fell 5.5% to $4.45.

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