In this article, we take a look at five stocks that are trending today. If you want to take a look at some more stocks that are in the news today and the latest market situation, go to 10 Stocks to Watch on Friday.
5. Robinhood Markets, Inc. (NASDAQ:HOOD) has plummeted 5.4% as of 10:23 AM ET after the Menlo Park, California-based financial services provider was downgraded to a Sell rating by William Nance at Goldman Sachs. The analyst believes that there is weakness in Robinhood Markets, Inc.’s (NASDAQ:HOOD) retail engagement levels. This is accompanied by slow account growth and a challenging path to profitability in the short term. Nance has given Robinhood Markets, Inc. (NASDAQ:HOOD) a price target of $13, reflecting a potential upside of 3.9% from the last closing price.
Of the 924 hedge funds being tracked by Insider Monkey, 24 funds held a stake in Robinhood Markets, Inc. (NASDAQ:HOOD) as of Q4 2021.
4. Peabody Energy Corporation (NYSE:BTU) is 2.3% in the green as of 10:43 AM ET after the news that the European Union has announced new restrictions that target coal imports from Russia as part of the fifth round of sanctions. This action was taken in retaliation to the conflict between Russia and Ukraine that started in late February. Germany is the biggest country in the EU, and its Chancellor Olaf Scholz has announced that it would take four months to completely transition from Russian coal.
As of Q4 2021, 28 hedge funds held a stake in Peabody Energy Corporation (NYSE:BTU). Elliott Management is the leading investor in Peabody Energy Corporation (NYSE:BTU), with a stake worth over $260 million.
3. HP Inc. (NYSE:HPQ) is down 0.4% as of 10:20 AM ET after the Palo Alto, California-based IT company was downgraded from a Buy to a Neutral rating by Jon Roy at UBS with a price target of $40. The price target implies a modest upside of 14.5% from yesterday’s closing price. The analyst has highlighted weakness in the low-end consumer PCs market as one of the factors for the downgrade. Furthermore, Roy added that the PC unit sales would decline from the fourth quarter of this year as supply chain disruptions and macroeconomic issues will come into play. The analyst also anticipates the share purchase to slow down following the completion of the $3.3 billion acquisition of Plantronics, Inc. (NYSE:POLY) by the end of this year.
Out of the 924 hedge funds being tracked by Insider Monkey, HP Inc. (NYSE:HPQ) was held by 39 funds as of Q4 2021.
2. Paysafe Limited (NYSE:PSFE) has gained 9.8% as of 10:22 AM ET after the UK-based online payments company announced that Bruce Lowthers would take over as the company’s new CEO and Executive Director succeeding Philip McHugh. Lowthers has an extensive experience of over 15 years in the US with FIS, a leading fintech company known to process around 75 billion transactions with a volume of $9 trillion annually. The last CEO, Philip McHugh, led Paysafe Limited (NYSE:PSFE) through the uncertainties of the COVID-19 pandemic and took the company public.
Overall, Paysafe Limited (NYSE:PSFE) was under the ownership of 32 hedge funds as of Q4 2021.
1. The Kroger Co. (NYSE:KR) is up 2.8% as of 10:25 AM ET after the Cincinnati, Ohio-based grocery retailer was upgraded from a Neutral to a Buy rating by Robert Ohmes at Bank of America. The analyst also revised the price target on The Kroger Co. (NYSE:KR) by nearly 23% to $75, as opposed to $61 previously. The target price reflects a potential upside of over 25% from the last closing price.
Ohmes anticipates a higher level of grocery inflation to continue until the first half of next year. This is based on rising prices of underlying commodities along with fertilizer prices. The analyst further expects the consumer to absorb this increase in prices as the US hourly wage rate has also increased by over 6%. Ohmes summed up his analysis by stating that more people are opting for retailers with greater variety as they are looking to shift their consumption to economical offerings.
The number of hedge funds holding a stake in The Kroger Co. (NYSE:KR) has increased to 41 as of Q4 2021, up from 39 in the preceding quarter.
You can also take a peek at the 10 Safe Stocks To Invest in For The Long-Term in 2022 and 10 Stocks to Buy According to Canyon Capital Advisors.
