AFC Energy Stock (OTC:AFGYF), Trade Ideas

AFC Energy PLC is a provider of hydrogen fuel cell power systems to generate clean energy in support of the energy transition. The company's scalable systems provide off-grid, zero-emission power that is already being deployed for rapid electric vehicle charging and the replacement of diesel generators for temporary power applications. it is also working with its partners in the deployment of products for the Maritime, Ports, Data Centers, and Rail industries, emphasizing the central role of its technology in the decarbonization of industry.

AFC Energy PLC

Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) released its Q1 earnings report on Tuesday, which showed impressive growth <a href="https://www.benzinga.com/quote/LMT/news">in net sales</a>. 
The company reported net sales of $17.195 billion, marking a 13.7% increase compared to the same quarter last year. Despite this strong performance, adjusted earnings per share (EPS) fell slightly to $6.33 from $6.43 year-over-year (YoY). However, the EPS still exceeded expectations by a notable margin.
More on the earnings, here: <a href="https://www.benzinga.com/news/earnings/24/04/38383997/lockheed-martins-q1-revenue-climbs-amid-fluctuating-profit-margins-2024-outlook-reaffirmed">Lockheed Martin&#8217;s Q1 Revenue Climbs Amid Fluctuating Profit Margins, 2024 Outlook Reaffirmed</a>
Lockheed Martin stock has been relatively stable, down a modest 4.53% over the past year and up 1.30% year-to-date (YTD). Despite this, a technical analysis has identified signs that a Golden Cross, a potentially bullish indicator, might be approaching, suggesting a possible positive trend reversal for the stock.
<h2 class="wp-block-heading">Positive Trend Reversal &#8211; Golden Cross In Sight</h2>
The current trend for Lockheed Martin is moderately bullish, with slight selling pressure. Several key technical indicators support this outlook.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075344/Screenshot-2024-04-25-at-4.37.49-PM.png" alt="" class="wp-image-308555" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075344/Screenshot-2024-04-25-at-4.37.49-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075344/Screenshot-2024-04-25-at-4.37.49-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
The stock&#8217;s current price is $459.14, slightly above its 8-day SMA of $457.99 and the 20-day SMA of $454.67, signaling a bullish trend. It also trades above the 50-day SMA of $441.38 and the 200-day SMA of $442.31, reinforcing the long-term bullish outlook.
One traditionally bullish signal is the Golden Cross, where the 50-day SMA is about to cross above the 200-day SMA. If a Golden Cross were to occur, it would indicate bullish potential for the stock.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075548/Screenshot-2024-04-25-at-5.25.09-PM.png" alt="" class="wp-image-308562" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075548/Screenshot-2024-04-25-at-5.25.09-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25075548/Screenshot-2024-04-25-at-5.25.09-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
The Moving Average Convergence Divergence (MACD) indicator for Lockheed Martin is 4.74, reinforcing the bullish signal. However, the Relative Strength Index (RSI) is at 61.72, with the stock treading near the overbought zone above 70.
Looking at the Bollinger Bands, the stock price continues to lie in the upper (bullish) band, also suggesting a bullish trend.
Overall, while there are multiple signs of a bullish trend, the RSI indicates caution as the stock may soon be overbought. Investors should consider these technical indicators along with other factors before making investment decisions.
<h2 class="wp-block-heading">Analysts See 10%+ Upside</h2>
Despite the positive technical signals, analyst ratings for Lockheed Martin Corp are Neutral, with a <a href="https://www.benzinga.com/quote/LMT/analyst-ratings">consensus price target</a> of $444. The most recent analyst ratings from Deutsche Bank, Citigroup, and UBS, released over the past two days, suggest an average price target of $503.67. This implies a potential upside of 10.21% from the current price.
While Lockheed Martin&#8217;s Q1 2024 earnings report demonstrated strong sales growth, its stock has not seen significant movement recently. 
However, the technical analysis suggests a potential bullish trend. Investors should consider these factors along with analyst ratings and consensus targets before making any investment decisions regarding Lockheed Martin stock.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38414013/lockheed-martin-reports-q1-earnings-beat-but-margin-concerns-remain-analysts-dive-i">Lockheed Martin Reports Q1 Earnings Beat, But Margin Concerns Remain: Analysts Dive Into Results, Outlook</a>
Photo: Shutterstock

Analyst Color

Earnings

News

Technicals

Analyst Ratings

Trading Ideas

Lockheed Martin Set For Lift-Off: Is A Golden Cross On The Horizon?

Guidance

Dow Sees Strong Demand Growth From Autos, Data Centers, Chips

Editor&#8217;s note: This story has been updated to correct an error in Personal Consumption Expenditure data.
The U.S. economy grew in the first quarter of the year, albeit at a markedly slower pace compared to the final quarter of 2023 <a href="https://www.benzinga.com/topic/economics">and below economists&#8217; predictions.</a>
The annualized growth rate of the Gross Domestic Product (GDP) stood at 1.6% for the recently concluded quarter, according to the advanced estimates released by the Bureau of Economic Analysis on Thursday. 
<h3 class="wp-block-heading">Q1 2024 GDP: Key Highlights</h3>
<ul>
<li>A growth rate of 1.6% in Q1 marks a notable slowdown from the 3.4% in the final quarter of 2023, and it fell short of the forecasted 2.5% growth according to the economist consensus.</li>
<li>Core Personal Consumption Expenditure (PCE) price index – Fed&#8217;s favorite inflation gauge – rose from 3.4% in Q4 2023 to 3.7% in Q1 2024, beating the expected 2%.</li>
<li>Headline PCE price rose from 1.8% in Q4 2023 to 3.4% </li>
<li>Real consumer spending growth slowed from 3.5% to 2.5%, below the expected 2.8%. </li>
</ul>
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), inched higher by 0.1% minutes after the GDP print. 
Treasury yields slightly rose by approximately 3 basis points across the curve, with the policy-sensitive 2-year yield rising to 4.95%, as traders bolstered their expectations for fewer and delayed Fed rate cuts in light of the higher-than-expected inflation figures.
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), went up 0.5%
During Thursday&#8217;s premarket trading, futures on major U.S. indices were all in the red, driven by a sharp drop of about 15% in tech giant Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) following the issuance of a weak revenue guidance for the second quarter, overshadowing the company&#8217;s better-than-expected first quarter results.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>
Image: Shutterstock

Macro Economic Events

Macro Notification

Broad U.S. Equity ETFs

Econ #s

Economics

ETFs

US Economy Grows 1.6% In Q1, Sharply Below Expectations As Price Pressures Weigh On Spending (CORRECTED)

During the recent Benzinga Cannabis Capital Conference, Rebecca Koar, executive vice president of investor relations &amp; strategy at Ascend Wellness Holdings, highlighted significant developments in the company's operations, particularly in Massachusetts. 
<h2 class="wp-block-heading">Enhancing Supply Capabilities</h2>
Koar noted that Ascend&#8217;s Simply Herbal brand has emerged as the top brand in the state, a notable achievement given that it was launched just two years ago. &#8220;Our Simply Herbal brand has become the number one brand,&#8221; Koar stated, attributing the success to the company&#8217;s strategic placement of three dispensaries and a new outlet in New Bedford that opened last year.
To support increasing demand, Ascend Wellness has expanded its cultivation capabilities. &#8220;We previously had about 42,000 square feet of cultivation in Massachusetts,&#8221; Koar explained. &#8220;We just announced an acquisition a couple of months ago in Amesbury, Massachusetts, for a second cultivation facility.&#8221; This new facility adds 15,000 square feet of additional canopy and includes a kitchen, enabling the company to introduce gummies.
<h2 class="wp-block-heading">Financial Health and Strategic Moves</h2>
Ascend Wellness has reported a strong financial outlook, with positive cash flow from operations and free cash flow for 2023. &#8220;We announced positive cash flow from operations for the entire year and positive free cash flow,&#8221; said Koar, underlining the company&#8217;s financial stability since its founding in 2018. This financial health positions Ascend well for upcoming financial maneuvers, including a planned refinancing and debt repayment strategy for next year.
<h2 class="wp-block-heading">Preparing for Expansion in New Markets</h2>
With new states legalizing adult-use cannabis, Ascend Wellness is preparing to enter these emerging markets while strengthening its presence in existing ones. Koar shared that Ohio and Pennsylvania are potential new markets, with Pennsylvania&#8217;s progress hinging on legislative developments. &#8220;We&#8217;re constantly looking at what states we want to be in,&#8221; she mentioned, emphasizing the importance of strategic market selection.
<h2 class="wp-block-heading">Networking and Learning Opportunities at the Conference</h2>
Koar also discussed the importance of the conference for networking and learning from industry peers. &#8220;Our biggest priority was meeting with our sell-side analysts this morning,&#8221; she revealed. The interactions included discussions with buy-side investors and panel participation by Ascend&#8217;s CEO, which Koar described as very successful. Through these engagements, the company aims to share and gather valuable practices within the industry.
Image: Boston Shutterstock

Ascend Wellness Strengthens Position in Massachusetts Cannabis Market

Roth MKM analyst George Kelly reiterates Mama`s Creations (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAMA#NASDAQ">MAMA</a>) with a Buy and raises the price target from $6 to $6.5.

Price Target

Reiteration

MAMA

Roth MKM Reiterates Buy on Mama's Creations, Raises Price Target to $6.5

Cantor Fitzgerald analyst Sarah James maintains Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) with a Neutral and lowers the price target from $391 to $360.

Cantor Fitzgerald Maintains Neutral on Humana, Lowers Price Target to $360

WIIM

MORN

Morningstar shares are trading lower. The company reported Q1 financial results.

UBS analyst Dennis Geiger maintains Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) with a Buy and raises the price target from $3400 to $3500.

UBS Maintains Buy on Chipotle Mexican Grill, Raises Price Target to $3500

Roth MKM analyst Sean McGowan maintains MGP Ingredients (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGPI#NASDAQ">MGPI</a>) with a Buy and lowers the price target from $100 to $95.

MGPI

Roth MKM Maintains Buy on MGP Ingredients, Lowers Price Target to $95

Graco shares are trading lower after the company reported worse-than-expected Q1 financial results.

UBS analyst Stephen Ju maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Buy and lowers the price target from $610 to $575.

UBS Maintains Buy on Meta Platforms, Lowers Price Target to $575

FCNCA

First Citizens BancShares are trading higher after the company reported better-than-expected Q1 adjusted EPS results.

UBS analyst Stephen Ju maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $198 to $215.

AMZN

UBS Maintains Buy on Amazon.com, Raises Price Target to $215

Cantor Fitzgerald analyst Olivia Brayer reiterates Biomarin Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) with a Overweight and maintains $110 price target.

BMRN

Cantor Fitzgerald Reiterates Overweight on Biomarin Pharmaceutical, Maintains $110 Price Target

Global

Royal Caribbean Executive Says Bookings Have Been Outpacing Last Year By A Wide Margin On A Weekly Basis Despite Having Less Inventory Remaining For Sale

NorthEast Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NECB#NASDAQ">NECB</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.72 by 19.44 percent. This is a 11.69 percent increase over earnings of $0.77 per share from the same period last year.

NECB

NorthEast Community Q1 EPS $0.86 Beats $0.72 Estimate

Cantor Fitzgerald analyst Louise Chen reiterates Cidara Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) with a Overweight.

CDTX

Cantor Fitzgerald Reiterates Overweight on Cidara Therapeutics

Wells Fargo analyst Steven Cahall maintains Interpublic Gr of Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>) with a Equal-Weight and lowers the price target from $32 to $31.

Wells Fargo Maintains Equal-Weight on Interpublic Gr of Cos, Lowers Price Target to $31

Investors with a lot of money to spend have taken a bullish stance on JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with JPM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 33 uncommon options trades for JPMorgan Chase.
This isn't normal.
The overall sentiment of these big-money traders is split between 48% bullish and 45%, bearish.
Out of all of the special options we uncovered, 23 are puts, for a total amount of $1,502,520, and 10 are calls, for a total amount of $494,926.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $175.0 and $220.0 for JPMorgan Chase, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for JPMorgan Chase's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of JPMorgan Chase's whale activity within a strike price range from $175.0 to $220.0 in the last 30 days. 
<h3>JPMorgan Chase 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714055467_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$21.0</td>
<td>$19.9</td>
<td>$19.9</td>
<td>$195.00</td>
<td>$189.0K</td>
<td>136</td>
<td>106</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$2.68</td>
<td>$2.63</td>
<td>$2.65</td>
<td>$190.00</td>
<td>$145.7K</td>
<td>8.7K</td>
<td>349</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$11.35</td>
<td>$11.3</td>
<td>$11.3</td>
<td>$190.00</td>
<td>$136.7K</td>
<td>1.2K</td>
<td>10</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$1.82</td>
<td>$1.8</td>
<td>$1.82</td>
<td>$180.00</td>
<td>$109.3K</td>
<td>7.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$5.85</td>
<td>$5.75</td>
<td>$5.75</td>
<td>$190.00</td>
<td>$94.3K</td>
<td>1.3K</td>
<td>7</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
Following our analysis of the options activities associated with JPMorgan Chase, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of JPMorgan Chase</h3>
<ul>
<li>With a volume of 1,632,572, the price of JPM is down -0.85% at $191.44. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 78 days.</li>
</ul>
<h3>What Analysts Are Saying About JPMorgan Chase</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $211.4.
<ul>
<li>Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for JPMorgan Chase, targeting a price of $216. </li>
<li>Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for JPMorgan Chase, targeting a price of $217. </li>
<li>An analyst from UBS has decided to maintain their Buy rating on JPMorgan Chase, which currently sits at a price target of $219. </li>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $210. </li>
<li>An analyst from BMO Capital persists with their Market Perform rating on JPMorgan Chase, maintaining a target price of $195. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.