Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors and casual readers should watch them. Here is a look at the Benzinga Stock Whisper Index for the week of Oct. 13, 2023:
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- Edesa Biotech Inc EDSA: Shares saw increased attention and high volatility over the week after the company announced a reverse stock split and shared news of securing a financial commitment from Canada's government to be used for a Phase 3 clinical study of its EB05 (paridiprubart) therapeutic candidate.
- Palantir Technologies PLTR: The data and software company saw high volatility during the week, which could be related to the conflict in the Middle East and recent updates from the company. Palantir, which has contracts with multiple government agencies and defense organizations around the world, announced a new contract award from the U.S. Department of Defense worth up to $250 million. Palantir supports the Department of Defense with artificial intelligence and machine learning capabilities. Shares of Palantir are up over 180% year-to-date in 2023.
- Akero Therapeutics AKRO: The biotech company saw shares down sharply on the week after reporting data from a Phase 2b study of its treatment for nonalcoholic steatohepatitis (NASH). The company’s Efruxifermin did not come in ahead of the placebo in improving liver scarring without worsening of NASH. Multiple analysts lowered their price target on the stock. Morgan Stanley, Cantor Fitzgerald, HC Wainwright, JPMorgan Chase & Co. and UBS all kept ratings of Overweight or Buy but lowered price targets from the $60s and $70s to a range of $33 to $41. Shares of Akero trade under $15 at the time of writing, down 70% in the last five days.
- Tupperware Brands Corp TUP: The consumer products company saw increased volatility and trading, which led to a 90% move up for share over the last week. The stock became a trending ticker on several finance sites. An SEC filing from the company also showed amendments made to an existing credit agreement, which extended the deadline to deliver financial statements and a Turnaround Plan. High short interest in the company has also attracted investors with over 20% of the float short.
- Plug Power Inc PLUG: The hydrogen fuel cell company saw increased attention from investors and shares traded higher on the week after the company held its fifth annual Plug Symposium. The company shared updated guidance for long-term revenue with $6 billion now expected in 2027 and $20 billion in 2030. Plug Power could also be seeing increased interest as the Biden administration is expected to award more federal grants related to clean hydrogen fuel.
Check out the most recent Stock Whisper reports here:
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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