Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

Yahoo Finance
Why the broad stock market isn't in a bubble, says veteran investor
The broad stock market isn't in a bubble for these three reasons, according to Hugh Johnson, chairman and chief economist at Hugh Johnson Advisors.
3h ago
MoneyWise
Your next stimulus check is just weeks away — will you get the full $1,400?
Congressional leaders are hurrying the new payments along. Will you get one — and when?
1d ago
TipRanks
3 Monster Growth Stocks That Are Still Undervalued
Let’s talk about growth. With corona receding, politics growing less exciting, and a new year ahead, investors are getting optimistic – and that means there’s a hunt for stocks that will bring in strong returns. In other words, growth stocks. In a recent interview, Jan Hatzius, chief economist at investment giant Goldman Sachs, said that he sees GDP growth in 2Q21 hitting as high as 10%. In an environment like that, most stocks are going to show a growth trend. Now, we all know that past performance won’t guarantee future results. Still, the best place to start looking for tomorrow’s high-growth stocks is among yesterday’s winners. Bearing this in mind, we set out to find stocks flagged as exciting growth plays by Wall Street. Using TipRanks’ database, we locked in on three analyst-backed names that have already notched impressive gains and boast solid growth narratives for the long-term. Kaleyra (KLR) We will start with Kaleyra, a cloud computing company offering communications solutions. The company’s SaaS platform supports SMS, voice calls, and chatbots – a product with obvious applications and value in today’s office climate, with the strong push to telecommuting and remote work. Kaleyra boasts over 3,500 customers, who make 3 billion voice calls and sent 27 billion text messages in 2019 (the last year with full numbers available). Over the past 6 months, KLR shares have shown tremendous growth, appreciating 155%. Kaleyra’s revenues have grown along with the share value. The company’s 3Q20 results hit $38.3 million, the best since KLR went public. While Kaleyra still runs a net earnings loss each quarter, the Q3 EPS was the lowest such loss in the past four quarters. Maxim analyst Allen Klee is bullish on KLR, seeing recent growth and product offerings as indicative of future performance. “Over the past few years, Kaleyra has posted double-digit revenue growth and positive adjusted EBITDA. We forecast revenue growth of 9%, 22%, and 28% for 2020-2022. We project adjusted EBITDA declines in 2020 to reflect public company costs and COVID-19, but growth at over twice the rate of revenue for the following two years. We expect benefits from operating leverage, low-cost tech employees, cost volume discounts as the company expands, and margin improvement from new offerings and geographies. Over the longer term, we believe the company can grow revenue close to 30% with even faster bottom line growth," Klee opined. With such growth, it’s no wonder Klee takes a bullish stance on KLR. To kick off his coverage, the analyst published a Buy rating and set a $22 price target. This figure implies a 45% for the coming year. (To watch Klee’s track record, click here) Overall, based on the 3 Buy ratings vs no Holds or Sells assigned in the last three months, Wall Street analysts agree that this ‘Strong Buy’ is a solid bet. It also doesn’t hurt that its $19 average price target implies ~26% upside potential. (See KLR stock analysis on TipRanks) Vista Outdoor (VSTO) Next up, Vista Outdoor, is a venerable company that saw its niche gain attractiveness in recent times. Vista is a sporting goods company, with 40 brands in two main divisions: outdoor products and shooting sports. Vista’s brands include well-known names as Bushnell Golf, CamelBak, and Remington. The company has found a burst of success in the ‘corona year’ as people have turned more and more to outdoor activities that can be practiced solo or in small groups – expanding the customer base. VSTO shares are up as a result, by 214% in the last 12 months. Vista’s earnings reflect the increase in consumer interest in outdoor sports. The company’s EPS grew in 2020, turning from a net loss to a $1.34 per share profit in the fiscal Q2 report (released in November). The fiscal Q3 report, released earlier this month, showed lower earnings, at $1.31 per share, but was still considered solid by the company, as it covered winter months when the company normally sees a revenue decline. Both quarters showed strong year-over-year EPS gains. Covering Vista for B. Riley, 5-star analyst Eric Wold sees several avenues for continued growth by Vista. He is impressed by the growth in firearm and ammunition sales, and by the price increase for products in both the outdoor goods and the shooting sports divisions. “Given our expectation that the increased industry participation numbers for both outdoor products and shooting sports during the pandemic will represent an incremental tailwind for VSTO in the coming years beyond the impressive production visibility that has been created by depleted channel inventory levels, we continue to see an attractive set-up for baseline growth,” Wold commented. Overall, Wold is bullish on the stock and rates it a Buy, with a $41 price target. This figure indicates room for 27% upside in the coming year. (To watch Wold’s track record, click here) Vista is another company with a unanimous Strong Buy consensus rating. That rating is based on 9 recent reviews, all to Buy. VSTO shares have an average price target of $36.78, which gives an upside of 14% from the trading price of $32.15. (See VSTO stock analysis on TipRanks) Textainer Group Holdings (TGH) You might not think about the ubiquitous cargo container, but these deceptively simple metal boxes have changed the face of bulk transport since their breakout proliferation in the 1960s. These containers make it easy to organize, load, ship, and track vast amounts of cargo, and are especially valuable for their ease of switching; containers can be quickly loaded on or switched between ships, trains, and trucks. Textainer is a billion-dollar company that buys, owns, and leases shipping containers for the cargo industry. The company has over 250 customers, and boasts a fleet of 3 million twenty-foot equivalent units (TEUs). Textainer is also a major reseller of used containers, and operates from 500 depots around the world. Even during the corona pandemic, when international trading routes and patterns were badly disrupted, and the quarterly revenues were down year-over-year, Textainer saw share gains. The company’s stock soared 110% over the past 12 months. The bulk of these gains have come in the past six months, as economies – and trading patterns – have begun to reopen. Looking at Textainer for B. Riley, analyst Daniel Day is deeply impressed. He sees this company as the lowest priced among its peer group, with a strong market share in a competitive industry. Day rates TGH a Buy, and his $31 price target suggests it has room for 57% growth ahead of it. In support of this bullish stance, Day writes, in part, “We believe that TGH is an underfollowed, misunderstood name that is ideal for the portfolio of a deep value investor looking for cash flow–generative names trading at a steep discount to intrinsic value. With new container prices at multiyear highs amid a resurgence in container shipping, we expect upcoming earnings results to be positive catalyst events for TGH…” Some stocks fly under the radar, and TGH is one of those. Day's is the only recent analyst review of this company, and it is decidedly positive. (See TGH stock analysis on TipRanks) To find good ideas for growth stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
8h ago
Yahoo Money
Democrats unveil bill for child cash payments up to $3,600 for American families
House Democrats unveiled legislation to provide millions of American families with up to $3,600 in direct payments per child.
6h ago
Investopedia
6 Social Security Changes for 2021
Every October, the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in Oct. 2020 to take effect on Jan. 1, 2021, according to the SSA's annual fact sheet. Keep them in mind when you update your Social Security information. For 2021, nearly 70 million Social Security recipients are seeing a 1.3% cost-of-living adjustment (COLA) to their monthly benefits. The adjustment helps benefits keep pace with inflation and is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as calculated by the Bureau of Labor Statistics (BLS).
2d ago
Benzinga
Should GE Try To Acquire FuelCell Or Plug Power In 2021?
Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. This week we posed the following question to over 1,000 traders and investors on whether General Electric Company (NYSE: GE) should acquire a clean energy manufacturing company: Over the next year, should GE buy FuelCell or Plug Power? Buy FuelCell Energy Inc (NASDAQ: FCEL)? Buy Plug Power Inc (NASDAQ: PLUG)? Buy Neither? About GE General Electric is known for its digital industrial offerings and massive installed base spread across a variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment, among others. After the sale of GE Transportation to Wabtec and a majority of its stake in Baker Hughes, as well as the sale of GE Biopharma to Danaher, the company's focus turns to aviation, legacy healthcare, power and renewable energy. The Boston-based conglomerate’s market cap comes in at nearly $100 billion, more than double FuelCell ($7.7 billion) and Plug Power’s ($32.7 billion) market caps combined. See Also: How To Buy GE Stock Sentiment was extremely tight for this study. Our survey revealed 39% think GE should complete an M&A deal with FuelCell in 2021. FuelCell Energy designs manufactures, sells, installs, operates, and services fuel-cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions. Meanwhile, 43% believe GE would be better served acquiring Plug Power by the end of the year. Plug Power provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. The clean energy company focuses on proton exchange membrane fuel cell and fuel processing technologies, fuel cell and battery hybrid technologies and related hydrogen storage and dispensing infrastructure. Plug Power garnered an abundance of attention from investors in 2020 for its GenDrive system, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles. Only 18% thought GE should not acquire either clean energy manufacturing company in 2021. Buy FuelCell 39.40% Buy Plug Power 42.70% Buy Neither 17.90% This survey was conducted by Benzinga in February 2021 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults. See more from BenzingaClick here for options trades from BenzingaHere's Why Marathon Patent, Riot, Westport Fuel and Clean Energy Are MovingTesla's Rumored ,000 Model 2 For China Could Be Unveiled In Late 2021: Report© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
5h ago
MoneyWise
10 tax deductions that have disappeared
Trump's tax law saw the standard deduction rise as many write-offs were eliminated.
5h ago
Bloomberg
EV Company With Almost No Revenue Posts 3,000% Gain in 8 Months
(Bloomberg) -- There is nothing about the finances of Blink Charging Co. that would suggest it’s one of the hottest stocks in America.It’s never posted an annual profit in its 11-year history; it warned last year it could go bankrupt; it’s losing market share, pulls in anemic revenue and has churned through management in recent years.And yet a hot stock it is. Investors have bid Blink’s share price up 3,000% over the past eight months. Only seven stocks -- out of about 2,700 that are worth at least $1 billion -- have risen more over that time. The reason: Blink is a green-energy company, an owner and operator of charging stations that power up electric vehicles. And if investors are certain of one thing in the mania that is sweeping through financial markets, it is that green companies are can’t-miss, must-own investments of the future.No stock better captures this euphoria than Blink. With a market capitalization of $2.17 billion as of Monday, its enterprise value-to-sales ratio -- a common metric to gauge whether a stock is overvalued -- has blown out to 481. For some context, at Tesla Inc. -- the darling of the EV world and a company with a very rich valuation itself -- that number is just 26.“Everything about it is wrong,” said Andrew Left, the founder of Citron Research. “It is just a cute name which caught the eye of retail investors.”Citron was one of a handful of firms that bet against Blink last year, putting on short-sale trades that would pay off if the share price fell. It’s one of several wagers against stocks favored by the retail-investment crowd that have gone against Citron -- with GameStop Corp. being the most high-profile -- and prompted Left to declare Jan. 29 that the firm was abandoning its research into short-selling targets. Overall short interest on Blink -- a gauge of the amount of wagers against the stock -- has fallen to under 25% of free-floating shares from more than 40% in late December.For the short-sellers, one of the things that raised alarms is that several figures tied to Blink, including CEO and Chairman Michael Farkas, were linked to companies that ran afoul of securities regulations years ago.Farkas dismisses this and the other criticisms lobbied by the shorts. “There have been and always will be naysayers,” Farkas said in an email. “When I founded the business, the naysayers questioned whether the shift to EV was real. Now, as the value of our business grows, the naysayers tend to be the short sellers.”Also See: Bloomberg Intelligence’s Environmental, Social, and Corporate Governance DashboardIn the CrosshairsMaking money on charging is, historically, a losing proposition. In theory, a model like Blink’s that involves both equipment sales and collecting user fees could become consistently profitable as government support accelerates EV adoption. But no one’s done it yet.“This market is still too small and early-stage,” said Pavel Molchanov, an analyst at Raymond James & Associates. “It will take time for economies of scale to materialize.”Even by the industry’s fairly forgiving standards, Blink’s revenue is meager, totaling an estimated $5.5 million in 2020. ChargePoint Inc., which announced plans to go public via a special purpose acquisition company last year, generated $144.5 million in revenue in 2020, according to a January filing. EVgo Services LLC, which is nearing a similar deal to go public through a SPAC, has a smaller charging network than Blink but more than double the sales -- an estimated $14 million in 2020. Despite the wildly different revenue figures, all three companies have an enterprise value of between $2.1 billion and $2.4 billion.Blink warned in a May filing that its finances “raise substantial doubt about the Company’s ability to continue as a going concern within a year,” a required disclosure when a company doesn’t have enough cash on hand for 18 months of expenses.“Electric is real. The stock prices of companies in the space are not,” said Erik Gordon, an assistant professor at University of Michigan’s Ross School of Business. “The dot-com boom produced some real companies, but most of the overpriced dot-com companies were lousy investments. The electric boom will be the same story. Some great companies will be built, but most of the investors who chase insanely-priced companies will be crying.”Still, the recent market boom has breathed new life into Blink, allowing it to raise $232.1 million though a share offering in January. Roth Capital Partners as recently as Friday recommended buying the stock, giving it a price target of $67, 29% above the current level.Shares fell 2.3% to $52.10 in New York Monday.The company’s prospects rely on exponential EV growth, and Farkas in January discussed plans to deploy roughly 250,000 chargers “over the next several years” and often touts the company’s ability to generate recurring revenue from its network.Currently, the company says it has 6,944 charging stations in its network. An internal map of Blink’s public fleet lists about 3,700 stations available in the U.S. By contrast, ChargePoint boasts a global public and private charging network that’s more than 15 times larger.Unlike some of its competitors, Blink’s revenue model hinges in part on driving up utilization rates, which for now remain in the “low-single-digits,” too scant to generate significant revenue, Farkas said during a November earnings call. He told Bloomberg that use will increase as EVs become more popular.For most chargers in operation now, utilization probably must reach 10%-15% to break even, although profitability depends on many other factors such as a company’s business model, electricity rates and capital costs, according to BloombergNEF Senior Associate Ryan Fisher.Blink was an early market leader among charging companies but has lost its lead and now controls about 4% of the sector in Level 2 public charging, said Nick Nigro, founder of Atlas Public Policy, an electric car consulting and policy firm.Blink has also acknowledged “material weaknesses” over its financial reporting, disclosed in U.S. Securities and Exchange Commission filings dating back to 2011. The company says it has hired an accounting consultant to review its controls and is making necessary changes.Origin StoryBlink’s colorful origin story has been a prime target of short-sellers. It traces back to 2006 when it formed as shell company New Image Concepts Inc. to provide “top-drawer” personal consulting services related to grooming, wardrobe and entertainment, according to an SEC filing.In December 2009, the company entered a share exchange agreement with Car Charging Inc. Farkas joined the company as CEO in 2010, after working as a stockbroker and investing in companies including Skyway Communications Holding Corp., which the SEC deemed a “pump-and-dump scheme” during the years Farkas held shares. (Farkas said he was a passive investor, was unaware of any misdeeds and “had no involvement in any capacity in the activities of Skyway.”)In 2013, Farkas oversaw Car Charging’s $3.3 million purchase of bankrupt Ecotality, which had received more than $100 million in U.S. Department of Energy grants to install chargers nationwide. The company later changed its name to Blink.Since then, Blink has been plagued by executive turnover, with three of five board members departing between November 2018 and November 2019. The company has had two chief financial officers and three chief operating officers since 2017. One former COO, James Christodoulou, was fired in March 2020. He sued the company, accusing it of potential securities violations, and reached a settlement with Blink, which denied any wrongdoing, for $400,000 in October.Financier Justin Keener, a one-time major Blink shareholder whose capital assisted the company’s 2018 Nasdaq listing, and the company he operated were charged last year for failing to register as a securities dealer while allegedly selling billions of penny-stock shares unrelated to Blink. He said he has since divested from Blink and now owns “a relatively small number of common shares” as a result of a settlement of a warrant dispute with the company. Keener denies the SEC allegations.Farkas told Bloomberg he has cut all ties to Keener, was unaware of any investigations going on while they worked together and has no knowledge of any wrongdoing by Keener.The surging stock has brought a windfall to Farkas, Blink’s largest shareholder. On Jan. 12, after shares rallied to records, he sold $22 million of stock, according to Bloomberg data. Farkas’s total compensation, including stock awards, totaled $6.5 million from 2016 to 2019, equivalent to more than half the company’s revenue. Included in his 2018 compensation were $394,466 in commissions to Farkas Group Inc., a third-party entity he controlled that Blink hired to install chargers.Farkas said his compensation is justified given that he had personally invested in the company’s formation and had for many years received shares in lieu of salary.More recently, Blink board member Donald Engel followed the CEO’s lead.He sold more than $18 million of shares during the past two weeks.(Updates share price in 15th paragraph and market value in fourth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2h ago
Yahoo Finance
7 public companies with exposure to bitcoin
Now that Tesla has invested significantly in bitcoin, Fundstrat's Tom Lee points to seven companies as ways to invest in the digital currency.
9h ago
Investor's Business Daily
Is Nio Stock A Buy As Electric Vehicle Sales Surge In New Year?
Nio is growing its lineup of electric vehicles as sales boom for the emerging Tesla of China. But is Nio stock a buy right now?
2h ago
Investor's Business Daily
Apple Car Deal With Auto Giant Just Stopped In Its Tracks
Kia and Hyundai are no longer in talks with Apple on an electric vehicle, after reports surfaced that an Apple car production deal could come as soon as next week.
3h ago
Oilprice.com
Green Tech Could Create The First Trillionaire
The green tech boom is just getting started, but it’s already looking like it may just wind up crowning the world’s first trillionaire
1d ago
TipRanks
Bionano Stock Gets a New Street-High Price Target
The last few months have been a breakout period for Bionano Genomics (BNGO). The share price has gone stratospheric as investors have cottoned on to the potential of its genome imaging system, Saphyr, and the impact Bionano can have in the world of cytogenetics. Oppenheimer analyst Kevin DeGeeter believes technical developments could lead to reduced COGs (cost of goods sold) per genome, which in turn could help the next-gen platform gain “deeper market penetration.” “Since the 2017 launch of Saphyr, there has been steady improvement in both laser optics and photon capture components from OEMs,” the 5-star analyst said. “BNGO is launching an aggressive initiative to combine these improved components with new informatics workflow to support a stepwise increase in throughput from 5,000 genomes per year to 68,000 (four modules @ 17,000) and chip cost from $500 to $100 per genome.” While cytogenetics remains the bull case’ main driver, the optical imaging platform’s addressable market could expand via newly planned studies in other verticals including prenatal, pediatrics, hematology and solid tumors. DeGeeter also believes the recent equity raises which totaled more than $380 million give the company “balance sheet flexibility.” Therefore, the analyst is more focused on the company’s progress than near-term revenue prospects. The strengthened balance sheet allows Bionano to “aggressively invest in both commercial infrastructure expansion and next-generation optical imaging technologies.” DeGeeter thinks that by 2026, 3 full years into the launch of a “next-generation platform offering up to 80% reduction in per genome disposable cost,” the company can deliver revenue of $353.1 million. Overall, the analyst estimates the cytogenetics TAM (total addressable market) could reach more than $1.5 billion. To this end, DeGeeter reiterates a Buy rating on Bionano shares and boosts the price target up from $1.5 all the way to a Street high of $15. Investors could be pocketing gains of 29%, should DeGeeter's thesis play out over the coming months. (To watch DeGeeter’s track record, click here) That’s Oppenheimer’s take, what about the rest of the Street’s view? 2 other analysts agree by providing additional Buy ratings, while one Hold can’t detract from a Strong Buy consensus rating. However, the $10.94 average price target is dragged down by the latter’s depressed objective, and therefore, shares are anticipated to remain range-bound for the foreseeable future. (See BNGO stock analysis on TipRanks) To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
6h ago
Barrons.com
15 Undervalued Stocks With Strong Earnings Growth in 2021
Many companies have weathered the pandemic well, but their stock prices don't always reflect their potential for higher earnings.
12h ago
Financial Times
A wealth tax is the economic buffer rich nations need
In the US and the UK there is an obvious solution: a wealth tax. According to the US Federal Reserve, the wealthiest 10 per cent of American households had a net worth of $80.7tn in the third quarter of 2020 — just under 70 per cent of total US household wealth. The top 10 per cent net wealth was equivalent to 375 per cent of gross domestic product in the same period, and it has never been less than 200 per cent of GDP in the past 30 years.
1d ago
Yahoo Finance
Tesla buying $1.5 billion in bitcoin opens the company up to further scrutiny
Tesla CEO Elon Musk just spent $1.5 billion of his company's cash on bitcoin. But did he also just make it tougher to invest in the company?
6h ago
Investor's Business Daily
AI Technology, Autonomous Vehicle Leader Nvidia Stock Trucking Higher
As top funds scoop up semiconductor stocks, AI tech leader Nvidia stock is trucking toward a new breakout and all-time high.
4h ago
TipRanks
Wells Fargo: These 2 Stocks Could Climb at Least 30%
After January’s sell-off, February’s first week of trading saw the stock market firmly back in bull mode. All 3 major indexes closed off the week at or at touching distance from all-time highs, as the market reacted favorably to the latest job data and the Democrats’ decision to move forward with a $1.9 trillion stimulus package. So, where is the market heading next? Investment firm Wells Fargo sees long-term appreciation ahead for the stock markets. Attempting to peer into the future, Wells Fargo’s senior global equity strategist Scott Wren says, “Playing into our expectation for a meaningful bounce back from the pandemic-induced contraction of last year are factors we have discussed in the past and we believe will continue to be the drivers this year. Positive vaccine news, easy money policies being pursued by the Federal Reserve, and additional anticipated government stimulus have all helped the stock market...” Against this backdrop, Wells Fargo analysts are pounding the table on two stocks, noting that each could surge at least 30% in the year ahead. After running the two through TipRanks’ database, we found out that the rest of the Street is also standing squarely in the bull camp. Guild Holdings (GHLD) The stock market may get more headlines, but real estate is where most Americans hold their wealth. The two markets intersect when real estate companies go public. Guild Holdings is a mortgage company, originating, selling, and servicing home loans in the US residential mortgage sector. The company has a footprint across most of the States, and operates through retail and word-of-mouth channels. The San Diego-based company held its IPO last year, in the latter half of October. The opening was only moderately successful, with the stock holding at or near $15, below the $17 planned. Guild Holdings sold 6.5 million shares, which was below the 8.5 million anticipated. The IPO raised $97.5 million, and the company boasts a current market cap ofreiterate our Overweight rating on GHLD. $972.6 million. Looking ahead, Wells Fargo analyst Donald Fandetti thinks the company is well-positioned to benefit in the current climate. "Despite rising interest rates, we believe management struck a confident posture that their business model should hold up relatively well given their purchase/retail orientation. There is also opportunity to fill in their branch footprint in areas such as the Northeast. The rising 10-year yield has shifted investor sentiment further negative for originators," the analyst opined. In this environment, Fandetti continues to "favor value and purchase mkt exposure," hence his bullish take on the stock. In line with these comments, Fandetti rates GHLD an Overweight (i.e. Buy), and his $22 price target indicates a potential for 36% upside growth in the year ahead. (To watch Fandetti’s track record, click here) Similarly, the rest of the Street is getting onboard. 4 Buys and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. The stock is selling for $16.21, and its $19.30 average price target implies a 19% one-year upside. (See GHLD stock analysis on TipRanks) PDC Energy (PDCE) Next up, PDC Energy, is a hydrocarbon producer based in Denver, Colorado. The company has operations in the Wattenberg Field of its home state, as well as the Delaware Basin of the Texas Permian oil formation. PDC produces oil, natural gas, and natural gas liquids through an aggressive horizontal drilling program. PDC saw revenues slip in 1Q20, and slip farther in the second quarter – but the top-line moved in the right direction in Q3. The company brought in $303 million that quarter, and on an adjusted basis showed a profit of $1.04 per share. Looking ahead to the fourth quarter report, due out at the end of February, the company is expected to show 92 cents per share in earnings. In some additional positive metrics, PDC produced a total of 192,000 barrels of oil equivalent per day in the third quarter, for a total of 17.7 million Boe. The company generated net cash from operations of $280 million, and saw a free cash flow of $225 million. During Q3, PDC was able to pay down $215 million worth of debt. Analyst Thomas Hughes, in his note on the stock for Wells Fargo, is impressed by the company’s free cash flow and potential for future production. “FCF generation will drive absolute debt below $1.5bn by the end of 1Q21 per our model, an important figure as shareholder returns (buybacks first) are predicated on this achievement… As debt falls below $1.5bn, the company will likely take a formulaic approach to distributing FCF… While heightened CO regulatory risk exists, PDCE has been successful building a backlog of permits and DUCs for forward development,” Hughes wrote. To this end, Hughes rates the stock an Overweight (i.e. Buy), and his $33 price target shows his confidence in a 30% upside for the next 12 months. (To watch Hughes’ track record, click here) It’s not often that the analysts all agree on a stock, so when it does happen, take note. PDCE’s Strong Buy consensus rating is based on a unanimous 10 Buys. The stock’s $27.90 average price target suggests a 10% and a change from the current share price of $25.35. (See PDCE stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
1d ago
Benzinga
Tonix Pharmaceuticals $70M; Plans To Develop COVID-19 Skin Test
Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) has entered into a securities purchase agreement with institutional investors to purchase 58.3 million shares at $1.20 per share, raising gross proceeds of approximately $70 million. The offering is expected to close by February 9. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. Earlier today, Tonix received a written response from the FDA to a Type B pre-investigational new drug meeting package describing its technology and plans to develop a diagnostic skin test, TNX-2100 (SARS-CoV-2 epitope peptide mixtures for intradermal administration), to measure the delayed-type hypersensitivity reaction to SARS-CoV-2 (CoV-2). TNX-2100 is designed to measure T cell immunity to CoV-2 and comprises three different mixtures of synthetic peptides (TNX-2110, -2120, and -2130), which are designed to represent different protein components of the CoV-2 virus. Each of these three tests would be administered as part of the same procedure at separate locations on the forearm. Each is expected to elicit a DTH response after approximately 48 hours in individuals with pre-existing T cell immunity to peptides in that mixture. Last month, the company raised million via equity sale of 50 million shares at $0.80 per share. Price Action: TNXP shares are trading higher by 18.2% at $1.50 on the last check Monday. See more from BenzingaClick here for options trades from BenzingaFreeline Therapeutics To Start FLT180a Dose Confirmation Study In Hemophilia B By 2021 EndNo Safety Concerns Observed In Uniqure's Early-Stage Huntington's Gene Therapy Study, DSMB Says© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
6h ago
Investor's Business Daily
Nvidia, IBD Stock Of The Day, Nears Buy Point Ahead Of Earnings
Nvidia is the IBD Stock Of The Day as the graphics-chip maker approaches a buy point ahead of its fiscal fourth-quarter earnings report. NVDA stock cleared a resistance level Monday.
3h ago

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Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

Latest Stories

Why the broad stock market isn't in a bubble, says veteran investor

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