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CITY OF LONDON INVST ORD by City of London Investment Trust PLC

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Aquestive Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQST#NASDAQ">AQST</a>) with a Buy and maintains $10 price target.

News

Price Target

Reiteration

Analyst Ratings

AQST

HC Wainwright & Co. Reiterates Buy on Aquestive Therapeutics, Maintains $10 Price Target

BMO Capital analyst Etzer Darout downgrades Exelixis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) from Outperform to Market Perform and raises the price target from $36 to $40.

Downgrades

EXEL

BMO Capital Downgrades Exelixis to Market Perform, Raises Price Target to $40

IFRX

InflaRx Doses First Patient In Phase 2a Basket Study In Chronic Spontaneous Urticaria And Hidradenitis Suppurativa, Investigating Oral C5aR Inhibitor, INF904

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Alumis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALMS#NASDAQ">ALMS</a>) with a Buy and maintains $26 price target.

ALMS

HC Wainwright & Co. Reiterates Buy on Alumis, Maintains $26 Price Target

BLDP

Ballard Announces Multiple Orders Totaling Over 6 MW Of Fuel Cell Engines For European Bus Market

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Sangamo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) with a Buy and maintains $10 price target.

SGMO

HC Wainwright & Co. Reiterates Buy on Sangamo Therapeutics, Maintains $10 Price Target

LODE

Comstock Sells Northern Mining Targets To Mackay Precious Metals Inc.  For An Aggregate Purchase Price Of $2.75M

Management

Travel Leisure Says CFO Michael A. Hug Notified His Intention To Retire During FY25

PMGC Holdings Inc. (formerly known as Elevai Labs Inc.) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELAB#NASDAQ">ELAB</a>) (before and after the redomestication, the "Company" or "we") announced today that it plans to effectuate a strategic reorganization effective on December 20, 2024. This reorganization will include changing the Company's name from Elevai Labs Inc. to PMGC Holdings Inc. and redomiciling from Delaware to Nevada. After this reorganization, the Company will continue to trade on The Nasdaq Stock Market&nbsp;("Nasdaq") under the ticker symbol "ELAB."&nbsp;The redomestication and name change will be effective on Nasdaq at the opening of business on December 23, 2024.

ELAB

Elevai Labs Inc. Announces Anticipated Name Change To PMGC Holdings Inc. And Redomicile To Nevada

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on Friday announced a recall affecting nearly 700,000 vehicles, leading to a notable drop in its stock price during the premarket.
What Happened: Tesla experienced a 5.04% drop in its stock price during Friday&#8217;s premarket, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, after a recall of 694,304 vehicles in the U.S. due to a tire pressure monitoring system (TPMS) issue that could potentially increase the risk of accidents, as per NHTSA.
The TPMS warning light may&nbsp;fail to stay illuminated between drive cycles, potentially leaving drivers unaware of low tire pressure, as noted in the recall acknowledgment. This malfunction could lead to vehicles being operated with improperly inflated tires, heightening the risk of accidents.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42528919/how-to-earn-500-a-month-from-apple-stock-4?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Apple Stock</a>
The recall affects certain Model 3, Model Y, and Cybertruck vehicles.&nbsp;Tesla&nbsp;plans to address the issue through an over-the-air software update, minimizing disruption for owners. The automaker&#8217;s vehicles comprised&nbsp;21% of all U.S. recalls&nbsp;in the first three quarters&nbsp;of the year, as reported by recall management firm&nbsp;BizzyCar.
Meanwhile, Tesla has a consensus price target of&nbsp;$280.41&nbsp;based on the ratings of&nbsp;33&nbsp;analysts, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. As per the&nbsp;three most recent analyst ratings were released by&nbsp;Baird, Mizuho, and Goldman Sachs, respectively. The average price target has been set at $446.67&nbsp;with an implied&nbsp;7.26%&nbsp;upside for Tesla from these most recent analyst ratings.
Despite the high number of recalls, most problems with&nbsp;Tesla&nbsp;vehicles are typically resolved via software updates. In the September quarter alone, the company recalled 1,858,774 vehicles, the most in the U.S. In November,&nbsp;Tesla&nbsp;recalled 2,400 Cybertruck units due to a faulty part that could cause power loss, marking the sixth recall for the model this year.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20071959/Screenshot-2024-12-20-at-5.49.31%E2%80%AFPM-1024x394.png" alt="" class="wp-image-701554" /></a></figure>
Why It Matters: The latest recall highlights ongoing challenges for&nbsp;Tesla&nbsp;in maintaining vehicle safety standards. The company has been proactive in addressing issues, often through software updates, but the frequency of recalls remains a concern. Notably,&nbsp;<a href="https://www.benzinga.com/tech/24/11/41934708/tesla-recalls-over-2400-cybertrucks-in-us">Tesla recently recalled over 2,400 Cybertrucks</a>&nbsp;due to a drive inverter fault that could lead to power loss, as reported by the National Highway Traffic Safety Administration (NHTSA). This issue was identified after a customer complaint in July, prompting an investigation and subsequent recall.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42545419/bitcoin-ethereum-dogecoin-stay-muted-before-feds-interest-rate-decision-analyst-says-btc-in-parabolic-phase-reveals-its-duration?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Stay Muted Before Fed&#8217;s Interest Rate Decision: Analyst Says BTC In Parabolic Phase, Reveals Its Duration</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Equities

Pre-Market Outlook

Markets

General

TSLA

Tesla Stock Falls Over 5% During Pre-Market After Elon Musk-Led EV Giant Recalls Nearly 700,000 Vehicles

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;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 <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Axcelis Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLS#NASDAQ">ACLS</a>)</h3>
<ul>
<li>On Nov. 6, Axcelis Technologies posted better-than-expected quarterly earnings. President and CEO Russell Low commented, &#8220;Axcelis executed well in the third quarter with results relatively in-line with our expectations. While we anticipate a near term digestion of mature node capacity through the first half of 2025, customer engagement is strong and our long-term growth opportunity remains squarely intact highlighted by attractive secular growth in silicon carbide, a cyclical recovery in our memory and general mature markets, market share gains in advanced logic and regional penetration of the Japan market.&#8221; The company's stock fell around 9% over the past five days and has a <a href="https://www.benzinga.com/quote/ACLS">52-week low of $68.79</a>.</li>
<li>RSI Value: 29.60&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>ACLS Price Action: Shares of Axcelis Technologies fell 2.5% to close at $69.18 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1"> latest ACLS news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="838" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20042416/image-176.png" alt="" class="wp-image-701292" style="width:590px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20042416/image-176.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20042416/image-176-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20042416/image-176-768x706.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Dec. 6, Wells Fargo analyst Joseph Quatrochi maintained the stock with an Overweight rating and lowered the price target from $220 to $210.. The company's stock fell around 4% over the past five days and <a href="https://www.benzinga.com/quote/AMAT">has a 52-week low</a> of $148.06.</li>
<li>RSI Value: 29.31</li>
<li>AMAT Price Action: Shares of Applied Materials fell 2.4% to close at $161.44 on Thursday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1"> trend in AMAT stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="917" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20043922/image-177.png" alt="" class="wp-image-701321" style="width:615px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20043922/image-177.png 917w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20043922/image-177-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20043922/image-177-768x709.png 768w" sizes="(max-width: 917px) 100vw, 917px" /></a></figure>
<h3 class="wp-block-heading">Microchip Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>)</h3>
<ul>
<li>On Dec. 11, Stifel analyst Nathan Jones maintained A.O. Smith with a Buy and lowered the price target from $91 to $90. The company's stock fell around 14% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/MCHP">low of $55.90</a>.</li>
<li>RSI Value: 27.86</li>
<li>MCHP Price Action: Shares of Microchip Technology fell 0.3% to close at $55.99 on Thursday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1">breakout in MCHP shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent122024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="908" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20044118/image-178.png" alt="" class="wp-image-701323" style="width:635px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20044118/image-178.png 908w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20044118/image-178-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/20044118/image-178-768x705.png 768w" sizes="(max-width: 908px) 100vw, 908px" /></a></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42582254/top-3-consumer-stocks-you-may-want-to-dump-this-quarter">Top 3 Consumer Stocks You May Want To Dump This Quarter</a></li>
</ul>

Long Ideas

Trading Ideas

ACLS

AMAT

MCHP

Top 3 Tech Stocks That Could Blast Off In Q4

Knife River Announced Today That It Has Entered Into A Definitive Agreement To Acquire Strata Corporation; Based On Strata's Projected 2025 Adj. EBITDA, The Purchase Price Of $454M Reflects A Multiple In The High Single Digits

The company entered securities purchase agreement with certain institutional investors for the purchase and sale of 3.33 million shares of common stock (or common stock equivalents) and warrants to purchase up to an aggregate of 5 million shares of its common stock at a combined public offering price of $1.50 per share of common stock (or common stock equivalent) and associated warrant in a registered direct offering.
The common warrants will have an exercise price of $1.50 per share, are exercisable immediately, and have a term of exercise equal to five years from the date of initial exercise.
The Company intends to use the net proceeds from this offering for general corporate purposes.

Offerings

FNGR

FingerMotion Enters Definitive Securities Purchase Agreement For $5M Registered Direct Offering

QNTM

Quantum BioPharma Says It Diversified Treasury With The Purchase Of Usd $1M Of Bitcoin And Other Cryptocurrencies And To Allow For Future Financings And Other Transactions In Cryptocurrency

Strata is a construction materials and contracting services provider in North Dakota and northwestern Minnesota. Based on Strata's projected 2025 Adj. EBITDA, the purchase price reflects a multiple in the high single digits.
The transaction is expected to close in the first half of 2025, subject to regulatory approval and customary closing conditions. Knife River expects to use cash on hand and the proceeds from the issuance of long-term debt to finance the acquisition.

Knife River Enters Definitive Deal To Acquire Strata For Purchase Price Of $454M

Northland Capital Markets analyst Bobby Brooks maintains CECO Environmental (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CECO#NASDAQ">CECO</a>) with a Outperform and raises the price target from $35 to $38.

CECO

Northland Capital Markets Maintains Outperform on CECO Environmental, Raises Price Target to $38

Northland Capital Markets analyst Mike Grondahl maintains Legacy Education (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/LGCY#AMEX">LGCY</a>) with a Outperform and raises the price target from $10 to $10.5.

LGCY

Northland Capital Markets Maintains Outperform on Legacy Education, Raises Price Target to $10.5

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Celldex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) with a Buy and maintains $80 price target.

CLDX

HC Wainwright & Co. Reiterates Buy on Celldex Therapeutics, Maintains $80 Price Target

Westlake Securities analyst Casey Ryan maintains Glimpse Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAR#NASDAQ">VRAR</a>) with a Buy and raises the price target from $2.65 to $4.67.

VRAR

Westlake Securities Maintains Buy on Glimpse Group, Raises Price Target to $4.67

TSLA: -6% &#x7C; <a href="https://www.benzinga.com//node/42613402">NHTSA Announced Earlier, Tesla Recalls 2024 Cybertruck, 2017-2025 Model 3, And 2020-2025 Model Y For TPMS Warning Light Issue; OTA Fix Released, Owner Notification Letters To Be Mailed Feb. 15, 2025</a>
&nbsp;
NKE: -6% &#x7C; <a href="https://www.benzinga.com//node/42605414">Nike Q2 Earnings: Revenue Beat, EPS Beat, Shares Jump, and then reverse — 'Nike Being Nike Again'</a>
&nbsp;
HUMA: 91% &#x7C; <a href="https://www.benzinga.com//node/42609617">FDA Approves Humacyte's SYMVESS For Treating Extremity Vascular Injuries</a>

Movers

HUMA

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