In this article, we take a look at five stocks that are moving today. If you want to take a look at some more stocks that are trending and the latest market situation, go to 10 Market-Moving Stocks to Watch Today.
5. Generac Holdings Inc. (NYSE:GNRC) has risen 7.58% as of 11:21 AM ET after the energy technology company’s subsidiary Generac Grid Services announced a new program to expand clean-energy access for low-to-moderate-income citizens. In collaboration with PosiGen, Generac Holdings Inc.’s (NYSE:GNRC) subsidiary aims to offer “state-of-the-art battery backup and load-management systems” to residents. The program is expected to provide grid stability by providing energy back to the grid as well.
As of Q4 2021, 46 hedge funds held a stake in Generac Holdings Inc. (NYSE:GNRC). Impax Asset Management was the leading hedge fund investor in Generac Holdings Inc. (NYSE:GNRC) during Q1 2022.
4. Thor Industries, Inc. (NYSE:THO) has declined 3.09% as of 11:36 AM ET after the manufacturer of recreational vehicles was downgraded from a Neutral to an Underperform by Brandon Rolle at DA Davidson. The analyst maintained a price target of $60 on Thor Industries, Inc. (NYSE:THO). There have been concerns regarding high factory inventory levels being maintained by Thor Industries, Inc. (NYSE:THO) and lower retail demand amid a weaker economic outlook.
Thor Industries, Inc. (NYSE:THO) was held by 32 hedge funds at the end of Q4 2021.
3. Bath & Body Works Inc (NYSE:BBWI) is down 7.36% as of 11:48 AM ET after analyst Mark Altschwager at Baird lowered the price target on the stock from $75 to $65. Even though Bath & Body Works Inc (NYSE:BBWI) managed to surpass Q1 forecasts, the analyst believes that escalated IT investments, inflationary pressures, and the expenses associated with CEO change have led to a reduced annual margin outlook. For FY22, Bath & Body Works Inc (NYSE:BBWI) is expecting diluted EPS to be between $3.80 and $4.15, as opposed to the previous forecast of $4.30 to $4.70.
At the end of Q4 2021, Bath & Body Works Inc (NYSE:BBWI) was held by 62 hedge funds.
2. CSX Corporation (NASDAQ:CSX) has crashed 2.88% as of 12:10 PM ET after the real estate and rail transportation company was downgraded from a Buy to a Neutral rating at Citigroup. The price target on CSX Corporation (NASDAQ:CSX) was also lowered from $45 to $35. Transportation stocks like CSX Corporation (NASDAQ:CSX) have taken a hit following the recent market sell-off. The sell-off was driven by investor concerns over inflation adversely impacting shipping demand and increasing gas costs. Analysts believe the current economic situation is not favorable for the earnings growth of railroad stocks.
CSX Corporation (NASDAQ:CSX) was held by 56 hedge funds at the end of Q4 2021.
1. Lucid Group, Inc. (NASDAQ:LCID) has surged 12.9% as of 12:20 PM ET after the electric vehicle manufacturer announced that the company would establish an overseas factory in Saudi Arabia. Lucid Group, Inc. (NASDAQ:LCID) revealed that the manufacturing plant would have a production capacity of 155,000 units a year. The vehicles would initially be produced for the local market and eventually be exported to other locations.
Overall, 14 hedge funds held a stake in Lucid Group, Inc. (NASDAQ:LCID) at the end of Q4 2021.
You can also take a peek at the 10 Best Stocks To Buy For Beginners Right Now and 10 Cryptocurrencies Millionaires Love.
