Plug Power rises to industry-leading success, while stocks move anchor among the bears

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Panuwat Dangsungnoen

Energy/electricity-related stocks were among the top gainers for the week ended July 8, while shipping stocks led the decline amid recession fears. economy as Federal Reserve policymakers put a 75 basis point mark interest rate hike at their next meeting to fight inflation.

SPDR S&P 500 Trust ETF (SPY) came back out of the profit (+ 3.03%) after being in red one week ago. YTD, ETF is -18.17%. SPDR for industrial selection field (XLI) is also green (+0.65%), after falling last week. YTD, XLI are -16.92%.

The top five gainers in the industrial sector (stocks with market capitalizations over $2 billion) all rose more than + 14% every week. However, from the beginning of the year until now, all 5 stocks are in the red.

Plug in the power (NASDAQ:PLUG) + 19.31% take number one again after two week. Stocks rallied throughout the week but peaked on July 7 (+7.83%) because of clean and solar energy energy Stocks rose as the US government plans to lift tariffs on Canadian solar products and China is considering a $220 billion stimulus package to boost the country’s economy.

However, YTD, the shares of the company based in Latham, New York fell -29.97%. The SA number rating on the stock is Sell, which takes into account factors such as growth and profitability, among other things. Rating as opposed to Wall Street Analyst’s Average Rating of Buyingwhere 14 out of 28 analysts give the stock a Strong Buy rating.

Work (UPDATE) + 17.26% seems to mirror Plug’s stock performance as it came in second, like it was two weeks ago. The Santa Clara, California-based company, which offers an online job marketplace, is also among the top five riser (in this segment) in June. However, at the beginning of the year, the stock fell -29.01%. The SA number rating on the stock is Organizationwith Factor Profitability D+ while Factor Valuation is F. But Wall Street Analysts’ Average Ratings are different and give the stock a Buying ratings, with an Average Price Target of $32.18.

The chart below shows YTD return price performance of the top five gainers and SP500TR:

Ballard electrical system (BLDP) + 16.03%. The Canadian fuel cell systems developer was among the bulls on July 7 (+ 9.88%) with the US-Canada agreement on the removal of tariffs on Canadian solar products. Stocks were also supported by a report that solar and wind installations in the US generated more electricity than nuclear power plants for the first time in April. YTD, Ballard refused -41.80%, the most of this week’s top five gainers. Wall Street analysts’ average rating for BLDP is Hold, with 13 out of 23 analysts favoring the stock. Organization. Rank as opposed to SA Quantity Rating of Sellwith Valuation receiving a factor grade of C and Profitability with a factor level of D-.

Border group (ULCC) + 14.73%. At the weekend, Frontier failed as Spirit Airlines (SAVE) postpone a shareholder votes for the acquisition of the company so they can have more time to continue discussions with JetBlue (JBLU). SA contributor Dhierin Bechai wrote: Just look at the value of suggestions From an overall and cash standpoint, the best Frontier offer is unappealing. Wall Street analysts’ average rating of ULCC is Strong buywith an Average Price Target of $16.86, as opposed to the SA Quantity Rating of Organization. YTD, Frontier’s stock is gone -20.78%.

Flowering energy (IT IS IN) + 14.55%. San Jose, California-based Bloom, which provides the electricity generation platform, also gained ground in proposing to lift Canada’s solar product tariff. The stock also saw Northland kick in with an Outperform rating calling the company “at bended phase” and strongly positioned to use its solid oxide platform. YTD, BE fell -13.82% but Wall Street Analysts’ Average Rating is Buyingwhile the SA Number Rank is Organization.

The top five losers this week among industrial stocks (market capitalization over $2 billion) all lost more -5% every. YTD, only one of these five is green.

Ocean of Gold (NASDAQ:GOGL) -10.48% led the decliners, followed by shipping companies Star Bulk Carriers (SBLK) -10.12% and ZIM Integrated Shipping (ZIM) -5.67%, taking second and third place, amid growing recession fears. According to analysis by the German Economic Institute IfW, more than 2% globally freight capacity is at a standstill in the North Sea while cargo volumes in the Red Sea declined in June affecting European trade.

Vincent Stamer, head of Kiel Trade Indicator, said: “Overall, world trade tended to be slightly positive in June, but there was significant congestion, high transportation costs and as a result troubles in shipping. supply chains have hindered the exchange of goods.

Stamer, however, added that the situation in North America has improved. “The pandemic caused high demand growth for consumer goods to have slowed and the congestion in the Port of Los Angeles has dissipated,” Stamer noted.

The chart below shows YTD return price performance of the five worst losers and XLI:

Bermuda-based GOGL had a relatively better first half of the year than the broader market and certain industrial stocks (in this segment). Stocks are among Top five stocks that gained in price (in this segment) in the first 6 months (+ 29.48%). Rank number of SA on GOGL is one Strong buy, with Profitability and Valuation both with A+ multiplier grades. Meanwhile, Wall Street Analysts’ Average Rating is Buying. YTD, the stock is the only one among this week’s losers in green.

Star Bulk – among Top 2021 Five industrial stocks (in this segment) also returned among the loser with GOGL after two weeks. The Rated number of SA and Wall Street Analysts’ Average Rating on SBLK is Strong buy. YTD, SBLK is -0.93%.

YTD, ZIM refused -24.31% but get a SA Quantity Rating of Strong buyin contrast to the Wall Street Analyst’s Average Rating of Organization.

ESAB (ESAB) -5.67%. Manufacturer of welding products based in North Bethesda, Md. reached 4th place among discount codes. YTD, the stock has fallen -16.68% but Wall Street Analysts’ Average Rating is Buying with an Average Price Target of $57.67.

Brady (BRC) -4.34%. The Milwaukee, Wis.-based company, which makes workplace safety products, has seen its stock tumble. -16.16% YTD. Rank number of SAs on BRC is one Organizationin contrast to the Wall Street Analyst’s Average Rating of Buying.

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