Market Overview

IPO-Mania: What You Need To Know

There were five initial public offerings on Friday alone, among the 11 IPOs this week. Let's take a look a closer look at Friday's action.

What's hot?

Energous (NASDAQ: WATT) is Friday's IPO winner thus far, and one of the most unusual IPOs investors have seen. The company is a developer of a disruptive wire-free charging technology.

The company initially planned to offer four million shares at a price of $6 per share. Shares initially opened at $9.50 before trading to $10.79 and then retreating to $7.82. Shares have rebounded since, trading around $8.70 -- below its debut price, but still up nearly 45 percent.

It is important to note that shares of Energrous have been trading with a wide bid-to-ask spread. Benzinga phoned NASDAQ who confirmed that trading was operating normally.

CBS Outdoor Americas (NYSE: CBSO) leases advertising space on out-of-home structures such as billboards and transit systems

The company initially planned to offer 20 million shares in a price range of $26 to $28 per share. Shares initially opened at $30.10 before hitting highs of $30.47.

Going into the afternoon session, shares were trading near its opening price of $30.10 as volume cooled down.

Related: IPO March Madness Continues! TNET, AGTC, SQBK Open on March 27

2U (NASDAQ: TWOU) is a provider of an SaaS cloud-based platform allowing non-profit colleges and universities to offer online programs.

The company initially planned to offer 9.2 million shares at a price range of $11 to $13 per share. Shares opened at $13.00 before rising to $14.34, cooling down a bit and finding some support around $14.00.

What's Not Hot?

Everyday Health (NYSE: EVDY) is a provider of digital health and welfare solutions. Everyday Health takes a unique approach and uses data and analytics to provide its users with personalized content.

The company initially planned to offer 7.2 million shares at a price range of $13 to $15 per share. Shares initially opened at $14.50 and briefly touched $14.75, before reversing course and declining as low as $13.23. Shares then rebounded to around $13.80 where the stock found some support.

Aerohive Networks (NYSE: HIVE) is a provider of a cloud-based mobile networking platform that is designed to support a mobile network edge.

The company initially planned to offer 7.5 million shares at a price range of $9 to $11. Shares opened at $8.95 before surging to $9.88. Shares then reversed course and traded as low as $8.81, before battling back and trading slightly above its debut price.

Bluerock Residential Growth (NYSE: BRG) has yet to open for trading.

Posted-In: 2U Aerohive Networks Bluerock Residential Growth Energous Everyday Health IPONews IPOs Best of Benzinga

 

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