In this article, we take a look at five stocks that are moving on Monday. If you want to read our detailed analysis of these stocks, go directly to Why These 10 Stocks Are Moving on Monday.
5. Archer-Daniels-Midland Company (NYSE:ADM) is up 5.8% today. The Russia-Ukraine conflict is contributing towards an increase in commodity prices globally. This is playing in favor of the Chicago, Illinois-based multinational food processing and commodities trading corporation. Furthermore, Archer-Daniels-Midland Company (NYSE:ADM) also received a favorable revision in its target price from Benjamin Theurer at Barclays. The analyst increased the target price from $80 to $88 and thinks that Archer-Daniels-Midland Company (NYSE:ADM) is in a position to capitalize on the short-term disruption and has strong long-term prospects based on the company fundamentals. Insider Monkey’s proprietary data comprising 924 hedge funds revealed that 41 hedge funds held a stake in Archer-Daniels-Midland Company (NYSE:ADM) as of Q4 2021.
4. Ralph Lauren Corporation (NYSE:RL) has lost 9.4% of its value in trading today after the New York-based company was downgraded from an Outperform to a Neutral rating by Tom Nikic at Wedbush. The analyst downgraded Ralph Lauren Corporation (NYSE:RL) stock due to higher exposure to the European market. Before the start of the COVID-19 pandemic, the European business of Ralph Lauren compounded by an average of 3% annually between 2016 and 2019. However, the size of the remaining business shrunk by an average of 5% annually during the same period. Last week, Ralph Lauren Corporation (NYSE:RL) was in the limelight after its Chief Commercial Officer Howard Smith was forced to resign due to personal conduct allegations. At the end of Q4 2021, 24 hedge funds reported owning a stake in Ralph Lauren Corporation (NYSE:RL), down from 25 in the third quarter.
3. Enphase Energy, Inc. (NASDAQ:ENPH) is up 2.9% after the Fremont, California-based company announced that there had been a growing number of deployments for Enphase installers in Belgium. The system is powered by IQ Microinverters and IQ Batteries. IQ Batteries were launched in Belgium in 2021. Enphase Energy, Inc. (NASDAQ:ENPH) thinks that the requirement of its offering will increase in the future as more homeowners are looking to get energy independent and Enphase Energy, Inc. (NASDAQ:ENPH) provides a platform for homeowners to harness clean power from the sun. Overall, 50 hedge funds held a stake in Enphase Energy, Inc. (NASDAQ:ENPH) at the end of Q4 2021.
2. Bed Bath & Beyond Inc. (NASDAQ:BBBY) has soared more than 40% after GameStop Corp. (NYSE:GME) Chairman Ryan Cohen revealed that he had taken a 9.8% stake in the stock of the homeware retail chain. Mr. Cohen wants the board to explore strategic alternatives to streamline its operations. He thinks that Bed Bath & Beyond Inc.’s (NASDAQ:BBBY) stock is undervalued and provides an attractive investment opportunity. Following this development, Zachary Fadem at Wells Fargo increased the target price on Bed Bath & Beyond Inc. (NASDAQ:BBBY) from $12 to $20. However, the analyst maintained an Underweight rating as he believes that the fundamentals are still weak and the company is operating in a structurally disadvantaged industry. Of the 924 hedge funds in Insider Monkey’s database, 17 held a stake in Bed Bath & Beyond Inc.’s (NASDAQ:BBBY) as of Q4 2021.
1. United Airlines Holdings, Inc. (NASDAQ:UAL) has dipped more than 8.5% today. The surge in crude oil prices to a 13-year high will adversely affect the profitability of the airline operators such as United Airlines Holdings, Inc. (NASDAQ:UAL). According to the Financial Times (FT), the number of scheduled flights at 11 integral airlines in the US has fallen by 12% to 1.63 million. There has been a significant decline in travel for business as people prefer virtual meetings over face-to-face meetings since the pandemic. Out of the 924 hedge funds being tracked by Insider Monkey, 35 funds held a stake in United Airlines Holdings, Inc. (NASDAQ:UAL) as of Q4 2021, up from 30 in the previous quarter.
You can also take a peek at the Ro Khanna Stock Portfolio: 10 Stocks To Consider and Billionaire Leon Cooperman Is Buying These 10 Stocks.
