Every week, Benzinga’s Inventory Whisper Index makes use of a mixture of proprietary knowledge and sample recognition to showcase 5 shares which are slightly below the floor and deserve consideration.
Traders are always on the hunt for undervalued, under-followed and rising shares. With numerous strategies out there to retail merchants, the problem typically lies in sifting via the abundance of data to uncover new alternatives and perceive why sure shares ought to be of curiosity.
Right here’s a take a look at the Benzinga Inventory Whisper Index for the week of Aug. 23:
Okta Inc OKTA: The cloud safety inventory is seeing sturdy curiosity from traders forward of second-quarter monetary outcomes. Okta will report Q2 monetary outcomes on Aug. 28 after market shut.
Analysts anticipate the corporate to report earnings per share of 61 cents and income of $632.6 million. Each figures signify important year-over-year will increase from 31 cents and $556.0 million respectively. The corporate has overwhelmed each earnings and income estimates from analysts in additional than 10 straight quarters. Cloud and safety stay two key sectors seeing development and elevated consideration from traders.
Okta shares are up 7.3% year-to-date, at the moment underperforming the broader market.
Faraday Future Clever Electrical FFIE: The electrical automobile inventory has been well-liked with retail traders over the previous 12 months and the inventory traded as a penny inventory. The corporate just lately accomplished a reverse inventory cut up reducing the float.
On Monday, the corporate accomplished a 1:40 reverse inventory cut up and noticed shares soar on the decrease float of 12 million shares, with the ticker trending on social media.
Exterior of the inventory cut up and retail curiosity, one other catalyst for the corporate may very well be approaching Sept. 19 with the corporate internet hosting a launch occasion for its China-U.S. Automotive Bridge Technique, the place it would share particulars on its second automotive model. Faraday Future shares soared over 140% on the week, however the inventory stays down over 60% year-to-date in 2024.
Air Industries Group AIRI: The aerospace firm introduced a brand new $110 million, seven-year contract to supply components for the Geared Turbo-Fan jet engine.
This marks the biggest contract in firm historical past for Air Industries and the worth is increased than the corporate’s market capitalization of $24 million. The brand new contract begins in 2025 and replaces an present contract set to run out in December 2024. The corporate mentioned annual gross sales are anticipated to extend because of the contract.
“With this single order, our backlog has surged to over $280 million, marking the primary time our backlog has exceeded 1 / 4 of a billion {dollars},” Air Industries CEO Lou Melluzzo mentioned.
The corporate just lately reported second-quarter monetary outcomes with income of $13.6 million and earnings per share of 9 cents beating analyst estimates. Air Industries shares are up over 50% previously 5 buying and selling days.
GE Aerospace GE: The aerospace firm is seeing elevated curiosity from traders, which may very well be because of the protection sector changing into a price play or a sector traders are taking a look at forward of the 2024 presidential election.
Freedom Capital Markets Chief World Strategist Jay Woods just lately advised Benzinga, the protection sector was one which may very well be a winner regardless of who wins the election. Woods named GE Aerospace as an organization to look at within the protection sector and a primary instance of what splitting up corporations can do, with the sum of the components now price greater than the entire.
GE shares have been up barely on the week and the inventory is up over 60% year-to-date in 2024.
Lululemon Athletica Inc LULU: The attire firm is seeing sturdy curiosity from readers forward of second-quarter monetary outcomes.
Lululemon will report second-quarter outcomes on Aug. 29 after market shut. Analysts anticipate the corporate to report second-quarter income of $2.42 billion, up from $2.21 billion within the prior 12 months. Analysts anticipate the corporate to submit earnings per share of $2.95 for the quarter, up from $2.68 within the prior 12 months.
Lululemon has overwhelmed analyst estimates for income in 9 straight quarters and earnings per share in additional than 10 straight quarters.
Shares of Lululemon rose over 1.5% on the week, however stay down over 40% year-to-date in 2024.
Keep tuned for subsequent week’s report, and observe Benzinga Professional for all the newest headlines and prime market-moving tales right here.
Learn the newest Inventory Whisper Index stories right here:
Learn Subsequent:
Market Information and Knowledge delivered to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
