BlackSky Technology Stock (NYSE:BKSY), Trade Ideas

BlackSky Technology

BlackSky Technology Inc is a provider of real-time geospatial intelligence. The company delivers on-demand, high-frequency imagery, monitoring, and analytics of some of the critical and strategic locations, economic assets, and events in the world. It designs, owns, and operates one of the industry's low earth orbit (LEO) small satellite constellations, optimized to capture imagery cost-efficiently where and when its customers need it. its Spectra AI software platform processes data from BlackSky's constellation and from other third-party sensors to develop the critical insights and analytics that provide its customers with the actionable intelligence. Geographically, the company operates in North America, the Middle East, Asia, and Others.

Earnings

News

Penny Stocks

Guidance

BlackSky Technology Inc. Class A Common Stock

BKSY

BlackSky Technology Inc (NYSE: BKSY) reported second-quarter (Q2) 2023 revenue growth of 28% year-over-year to $19.33 million, missing the consensus of $20.55 million.

BlackSky Technology Misses Q2 Consensus, Sees Strong Contract Win

Movers

RKLB

Rocket Lab USA, Inc. (NASDAQ: RKLB) shares are moving Wednesday.

What&#39;s Going On With Rocket Lab USA Stock?

Contracts

General

BlackSky Technology Bags $30M Contract For High-Frequency Imagery Services

BlackSky Technology Inc

BlackSky Technology Inc. Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock

Wells Fargo analyst Ike Boruchow maintains Amer Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) with a Overweight and lowers the price target from $19 to $17.

Price Target

Analyst Ratings

Wells Fargo Maintains Overweight on Amer Sports, Lowers Price Target to $17

Keefe, Bruyette &amp; Woods analyst Kelly Motta reiterates Stock Yards Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYBT#NASDAQ">SYBT</a>) with a Market Perform and raises the price target from $53 to $54.

Reiteration

SYBT

Keefe, Bruyette & Woods Reiterates Market Perform on Stock Yards Bancorp, Raises Price Target to $54

Wedbush analyst Michael Pachter reiterates FuboTV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) with a Outperform and maintains $5 price target.

FUBO

Wedbush Reiterates Outperform on FuboTV, Maintains $5 Price Target

European and US futures are trading lower on the second last day of the week as traders and investors digest the current earnings&rsquo; season while keeping a close eye on the economic data, which is very much not going to shape the monetary policy of central banks, but it could also provide a massive tailwind for the equity markets in the US and in Europe, which they desperately need.
Earlier today, in Europe, we had a mixed bag of earnings from a number of major players. Deutsche Bank (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) and Barclays (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) produced decent earnings numbers. For instance, Barclays, first quarter net income was 1.55 billion pounds, which was way ahead of expectations. Similarly, Deutsche Bank also reported 1.275 billion euros of profit, which is a 10% annual increase. However, both banks failed to impress investors, and their stocks traded in negative territory during the early morning&rsquo;s price action.
Neste, another major player in the consumer sector, also failed to impress markets as it reported a 5.9% fall in sales for the quarter to 22.1 bullion Swiss francs, and most of the drag came from North American markets. However, as always, the shining spot for the company was its organic sales growth&mdash;a trend that many consumers are favouring despite higher inflation pressure, which has already squeezed their disposable income. The company did assure investors that its strategies to promote organic products are still very much in play, and they are expecting another 4% growth, which should help its overall operating profit margin. The stock traded over 4% during the early morning&rsquo;s price action.
While earnings are in focus, investors are paying attention to the big potential M&amp;A news that has given a massive lift to the Anglo American company, which has received a takeover bid from BHP Group. BHP has valued the company at 31.1 billion pounds, and the share price has surged by over 13%. In a time like this, the initial surge is usually only the beginning of a larger rally. If the deal goes through, this BHP Group would become the biggest player in the copper mining playfield, which is already attracting a lot of attention among investors.
Over in the US, the focus will be on the tech sector, as Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) failed to impress investors and its shares tanked, which made Meta lose its market cap by nearly $200 billion. The issue with the company is its big dive into the metaverse and also its headsets, which continue to become less popular than many initially thought. Perhaps the issue here is not the concept but the slow adoption of the technology. But if you look at the earnings on its face value, things were no short of good surprises, as the company not only produced stellar numbers for its profit but also healthy revenue for the first quarter. The core business for Meta still continues to be its advertising, where 98% of its revenue comes from. The company continues to show progress here, and the fact that it has increased its CAPEX means that Zuckerberg has something up his sleeves that he is working on.
Moving away from all of this, the main factor to focus on today is the US GDP data, which is going to either firm up the narrative that the Fed already has or make the Fed think again about their monetary policy. Looking at the recent PMI numbers and other economic indicators, no one is expecting the GDP number to fall off the cliff&mdash;what we need is just about the right number that matches expectations, and the Fed will be more than happy to drum the same beat. The Dow Jones index posted three consecutive weeks of losses; however, this week the index is set to close higher, but by only a small margin. If the sentiment becomes adverse, the current bounce in the price action of the Dow Jones will be nothing more than a dead cat bounce, which means that the index is likely to move lower and could easily test the levels that are shown on the chart. The support level is already tested by the market, and another test could either make a double bottom, which would mean that the only potential way for the price action would be to the upside. However, on the flip side, a break in this zone would open the floor for a much deeper correction for the price action, which could actually last all summer.
<img alt="dow_jones_-_benzinga_25-04.png" src="https://www.benzinga.com/files/u1724330/dow_jones_-_benzinga_25-04.png" style="height:609px; width:624px" />
<a href="https://www.xtb.com/int/education/dow-jones-trading-how-to-invest-in-the-us30-index">US 30 chart by XTB</a>
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Markets

Trading Ideas

Markets Today: Earnings Are Failing To Impress Traders, Dow Jones Flirting With Critical Levels

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains Simmons First Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFNC#NASDAQ">SFNC</a>) with a Market Perform and lowers the price target from $21 to $20.

SFNC

Keefe, Bruyette & Woods Maintains Market Perform on Simmons First Ntl, Lowers Price Target to $20

<a href="https://www.reuters.com/business/autos-transportation/three-stellantis-plants-halted-due-strike-contractor-2024-04-25/">https://www.reuters.com/business/autos-transportation/three-stellantis-plants-halted-due-strike-contractor-2024-04-25/</a>
Production at three Stellantis assembly plants in Europe has been stopped for several days due to a strike at a plant run by supplier MA France, a spokesperson told Reuters.
"Three sites have seen a production halt since the start of the week," the spokesperson said, adding two are in France (Poissy and Hordain) and one in Britain (Luton).
The Hordain plant makes vans and mini buses for Stellantis brands and also for Toyota.
MA France, a division of Italian group CLN, specialises in stamped metal parts.
CLN did not immediately respond to a request for comment.
MA France produces components on a site in the northeastern suburbs of Paris previously used by PSA until it was shut in 2014. PSA has since become Stellantis through its merger with FCA.
Workers at the plant are worried about plans to move production to Poland, said Brahim Aitathmane, head of the Force Ouvriere union at Stellantis.
Stellantis is hoping that discussions underway at the factory will allow it to resume production soon, the company spokesperson added.

STLA

Reported Earlier, 'Three Stellantis Plants In Europe Halted Due To Strike At Supplier MA France' - Reuters

Wedbush analyst Daniel Ives reiterates Alight (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALIT#NYSE">ALIT</a>) with a Outperform and maintains $14 price target.

ALIT

Wedbush Reiterates Outperform on Alight, Maintains $14 Price Target

New AI capabilities in Oracle Cloud CX help marketers, sellers, and service agents, improve customer satisfaction, increase productivity, and accelerate deal cycles
MEXICO CITY, April 25, 2024 &nbsp;/PRNewswire/ -- Oracle&nbsp;CloudWorld -&nbsp;Oracle today announced new artificial intelligence (AI) capabilities within <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=1939322209&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2F&amp;a=Oracle+Fusion+Cloud+Customer+Experience+(CX)">Oracle Fusion Cloud Customer Experience (CX)</a>&nbsp;to&nbsp;help marketers, sellers, and service agents accelerate deal cycles. The new AI capabilities will help organizations generate more sales faster by automating time-consuming tasks and enabling front office professionals to more precisely target, engage, and serve buyers.
&nbsp;
"AI is continuously proving its ability to enhance user experiences and we are only beginning to see what this technology can do for customer service, sales, and marketing," said Katrina Gosek, vice president of product strategy, Oracle Cloud CX. "The new AI capabilities embedded within Oracle Cloud CX will enable organizations to enhance customer satisfaction and drive more sales by automating processes that enable marketing, sales, and service professionals to spend their quality time on more meaningful tasks while the technology is helping to engage and serve buyers in a more precise manner."
Built on Oracle Cloud Infrastructure (OCI) and leveraging its leading AI services, Oracle supports over 50 generative AI use cases that are embedded within <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=357673463&amp;u=https%3A%2F%2Fwww.oracle.com%2Fapplications%2F&amp;a=Oracle+Fusion+Cloud+Applications+Suite">Oracle Fusion Cloud Applications Suite</a>&nbsp;and designed to respect customers' enterprise data, privacy, and security. With OCI Generative AI Service, no customer data is shared with large language model (LLM) providers or seen by other customers. In addition, an individual customer is the only entity allowed to use custom models trained on its data. To further protect sensitive information, role-based security is embedded directly into Oracle Fusion Applications workflows that only recommends content that end users are entitled to view.
The new AI capabilities in Oracle Cloud CX further expand the AI capabilities within Oracle Fusion Applications, which helps organizations be more competitive, boost productivity, and reduce the cost of doing business. New AI capabilities in Oracle Cloud CX include:
<ul>
<li>Gen AI Assisted Answer Generation: Helps service agents reduce their workloads by automatically crafting contextually aware responses to customer questions. This new generative AI capability in <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=1838338013&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2Fservice%2F&amp;a=Oracle+Service">Oracle Service</a> will improve customer response times and free up service agents to focus on more complex scenarios by leveraging Oracle Digital Assistant to manage and answer customer inquiries.</li>
<li>Assisted Scheduling for Field Service: Helps field service technicians optimize their schedules by automatically recommending relevant jobs by considering key identifiers such as availability, location, skills, billing status, and more. This new capability in Oracle Service leverages AI to improve service productivity and overall customer satisfaction by automatically recommending jobs based on the estimated job duration and travel time.</li>
<li>Opportunity Identification: Helps marketers and sellers generate more B2B deals and grow account-based revenue by helping to identify the right contacts at target accounts in order to improve effective cross-sell and upsell motions. The new AI models within <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=1764748714&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2Fcustomer-data-platform%2F&amp;a=Oracle+Unity+CDP">Oracle Unity CDP</a> provide look-alike modeling for contacts, job title normalization, and topic interest mapping, which help predictively identify and label the right members of a buying group to drive activation and more relevant sales engagement.</li>
<li>Gen AI Assisted Authoring for Marketing and Sales: Helps marketers and sellers quickly create compelling content to better engage buyers and accelerate deal cycles. The new generative AI capabilities in <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=1920075084&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2Fmarketing%2F&amp;a=Oracle+Marketing">Oracle Marketing</a> and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=2697985760&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2Fsales%2F&amp;a=Oracle+Sales">Oracle Sales</a> help increase buyer engagement by producing targeted content for marketing and sales collateral, such as recommended copy for emails and landing pages.</li>
<li>Seller Engagement Recommendations: Helps sellers increase buyer engagement and accelerate purchase decisions. The new AI capabilities within Oracle Sales enable sellers to generate more deals by delivering highly targeted recommendations on specific products to offer, insights on the buyers' role and engagement level, and additional contacts for key opportunities.</li>
</ul>
"Service resources are finite so it is critical that organizations can predict, plan, and proactively activate the parts of service that can be automated. This would also free up time to be spent on more complex and business-critical tasks that only a human can complete," said Aly Pinder, research vice president, IDC. "The latest updates to Oracle Service are good examples of how AI and machine learning models can improve customer experiences and create the efficiencies needed for service workers to be more productive."
Part of Oracle Fusion Applications, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=830948402&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2F&amp;a=Oracle+Cloud+CX">Oracle Cloud CX</a>&nbsp;helps organizations connect data and workflows across marketing, sales, and service to make every customer interaction matter. To learn how Oracle Cloud CX can help your organization improve the customer experience and build brand loyalty, please visit: <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4150576-1&amp;h=185374333&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcx%2F&amp;a=oracle.com%2Fcx">oracle.com/cx</a>

ORCL

Oracle Introduces New AI Capabilities Within Oracle Fusion Cloud Customer Experience (CX) To Help Marketers, Sellers, And Service Agents Accelerate Deal Cycles

Keefe, Bruyette &amp; Woods analyst Aidan Hall reiterates SEI Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEIC#NASDAQ">SEIC</a>) with a Market Perform and raises the price target from $72 to $74.

SEIC

Keefe, Bruyette & Woods Reiterates Market Perform on SEI Inv, Raises Price Target to $74

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) with a Market Perform and lowers the price target from $132 to $131.

Keefe, Bruyette & Woods Maintains Market Perform on Raymond James Finl, Lowers Price Target to $131

Canadian cannabis company Adastra Holdings Ltd. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/XTRX#CSE">XTRX</a>)(FRA:D2EP) (OTCPK:XTXXF) its financial results reported Tuesday for the fourth quarter and the year ended Dec. 31, 2023.
For the fourth quarter of 2024, the British Columbia-based cannabis concentrates producer reported gross revenue of CA$9.1 million ($6.7 million), compared to CA$6.8 million in the same period of 2022.
&#8220;During 2023, Adastra experienced significant sales growth of $37.7 million, representing a 108% increase compared to the same period last year, and marking our third consecutive year of achieving record revenue," stated Lachlan McLeod, interim CEO of Adastra. "The increased demand for our in-house brand, Endgame Extracts, has been a key driver behind this success, evident in our continued success with numerous best-selling SKUs in B.C, Alberta, and Ontario according to Headset.&#8221;
<h2 class="wp-block-heading">Fiscal Year 2023 Summary&nbsp;</h2>
<ul>
<li>Net revenue amounted to CA$22.2 million, up 67% from CA$13.3 million in 2022.</li>
<li>Record gross profit of CA$7.6 million for 2023, representing&nbsp;a 24% increase compared to CA6.1 million in 2022.</li>
<li>Net loss was CA$3.54 million, up&nbsp;by&nbsp;17% from the previous year.</li>
<li>Loss from operations of CA$1.8 million, compared to CA$800,000 for 2022, an increase of 124% due to the&nbsp;company&#8217;s&nbsp;increased spending on marketing initiatives to increase brand awareness of the suite of products under the Endgame Extracts brand.</li>
<li>Record cash provided by operating activities of CA$1.9 million compared to CA$900,000 in 2022 as the company closely managed cash flows during the year.</li>
<li>As of Dec. 31, 2023, Adastra had a working capital deficiency of around CA$6 million and a deficit of CA$21.7 million.</li>
</ul>
<h2 class="wp-block-heading">Q4 2023 Financial Takeaways</h2>
<ul>
<li>Gross revenues of CA$9.1 million in Q4 2023, compared to CA$6.8&nbsp;million in the fourth quarter of 2022, representing an increase of&nbsp;34%,&nbsp;due to an increase in throughput of the Langley Facility and increased deliveries to provincial distributors.</li>
<li>Net loss and comprehensive loss of CA$1.5 million during, compared to CA$2.6 million during the third quarter of 2023, a decrease of 43% quarter over quarter.</li>
</ul>
&#8220;Looking ahead to 2024, we expect to continue&nbsp;this momentum and have already set new records, including receiving a&nbsp;record&nbsp;single purchase order of $1 million in March 2024,"&nbsp;McLeod added.&nbsp;"Moreover,&nbsp;we&#8217;re&nbsp;committed to a renewed focus on cost-saving measures&nbsp;aimed at ensuring&nbsp;profitability. As we continue to grow, we aim&nbsp;to further strengthen our financial position&nbsp;and drive sustainable success.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38291847/no-cannabis-tax-relief-in-canada-tilray-ceo-says-this-hinders-our-ability-to-compete-with-the-il" target="_blank" rel="noreferrer noopener">No Cannabis Tax Relief In Canada, Tilray CEO Says This&nbsp;&#8216;Hinders Our Ability To Compete With The Illicit Market&#8217;</a>
Photo: Courtesy of iQoncept via Shutterstock

Cannabis

CSE:XTRX

XTXXF

Canadian Cannabis Concentrates Producer, Adastra, Reports Third Year Of Record Revenue, But Also Higher Losses

U.S. stocks traded lower this morning, with the Dow Jones index tumbling by more than 500 points on Thursday.
Following the market opening Thursday, the Dow traded down 1.42% to 37,915.92 while the NASDAQ fell 2.16% to 15,374.09. The S&amp;P 500 also fell, dropping, 1.37% to 5,002.04.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38428592/how-to-earn-500-a-month-from-t-mobile-us-stock-ahead-of-q1-earnings-report">How To Earn $500 A Month From T-Mobile US Stock Ahead Of Q1 Earnings Report</a>
Leading and Lagging Sectors Consumer staples shares climbed by 0.3% on Thursday.
In trading on Thursday, communication services shares fell by 6.3%.
Top Headline
The U.S. economy grew an annualized 1.6% in the first quarter, marking a notable slowdown from the 3.4% rate in the final quarter of 2023. However, analysts were expecting a 2.5% growth.
Equities Trading UP                       
<ul>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares shot up 70% to $0.2453. Safe &amp; Green Holdings said it has entered into an agreement to produce 4 modular electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.</li>
<li>Shares of Barfresh Food Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRFH#NASDAQ">BRFH</a>) got a boost, surging 68% to $1.85.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares were also up, gaining 49% to $2.4201 after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Hanryu Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) shares dropped 37% to $0.3330. Hanryu Holdings received delinquency notice from the Nasdaq for late annual report filing.</li>
<li>Shares of Huize Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>) were down 25% to $0.4697.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) was down, falling 28% to $0.3047. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38429948/meta-platforms-to-rally-around-14-here-are-10-top-analyst-forecasts-for-thursday">Meta Platforms To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday</a>
Commodities In commodity news, oil traded up 0.4% to $83.13 while gold traded up 0.1% at $2,341.60.
Silver traded up 0.4% to $27.45 on Thursday, while copper rose 2.6% to $4.5745.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.3%, London's FTSE 100 rose 0.7% while Spain's IBEX 35 Index rose 0.3% The German DAX fell 0.5% French CAC 40 fell 0.8% while Italy's FTSE MIB Index fell 0.2%.
Producer prices in Spain fell 8.2% year-over-year in March compared to a revised 8.5% decline in February. The GfK Consumer Climate Indicator for Germany climbed to -24.2 heading into May versus a revised reading of -27.3 in the prior period. UK's car production fell 27.1% to 59,467 units for March.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 falling 2.16%, Hong Kong's Hang Seng Index gaining 0.48%, China's Shanghai Composite climbing 0.27% and India's S&amp;P BSE Sensex gaining 0.66%.
Hong Kong's trade deficit increased to $45.0 billion in March from $40.6 billion in the year-ago month. The index of leading economic indicators in Japan came in unchanged at 111.8 in February, while index of coincident economic indicators was revised higher to 111.6 in February versus a flash reading of 110.9.
Economics
<ul>
<li>U.S. initial jobless claims declined by 5,000 to 207,000 in the week ending April 20, compared to market estimates of 214,000.</li>
<li>The U.S. economy grew an annualized 1.6% in the first quarter, marking a notable slowdown from the 3.4% rate in the final quarter of 2023. However, analysts were expecting a 2.5% growth.</li>
<li>U.S. wholesale inventories fell by 0.4% month-over-month in March compared to a revised 0.4% gain in February.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/24/04/38429015/jim-cramer-youre-dice-rolling-with-this-biopharma-stock-but-vista-energy-is-a-good-situation"> Jim Cramer: You&#8217;re &#8216;Dice Rolling&#8217; With This Biopharma Stock, But Vista Energy Is &#8216;A Good Situation</a>

Eurozone

Commodities

Intraday Update

BRFH

CSSE

HRYU

HUIZ

PCSA

SGBX

Dow Dips Over 500 Points; US GDP Growth Misses Expectations

Thursday,&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>)&nbsp;<a target="_blank" href="https://www.sanofi.com/en/investors/financial-results-and-events/financial-results/q1-results-2024" rel="noreferrer noopener">reported</a>&nbsp;first-quarter operating income of 2.8 billion euros, down 14.7% Y/Y and 4.2% on constant currency.
The French drugmaker reported adjusted EPS of $0.97&nbsp;(1.78 euros), beating the consensus estimate of $0.94.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38091091/in-heart-burn-drug-zantacs-litigation-saga-sanofi-nears-settlement-in-major-lawsuit-cluster" rel="noreferrer noopener">In Heart Burn Drug Zantac&#8217;s Litigation Saga, Sanofi Nears Settlement in Major Lawsuit Cluster</a>.
The company reported first-quarter sales of $11.36 billion (10.5 billion euros), beating the consensus of $11.04 billion.
Research and Development expenses increased by 10.0% to 1.7 billion euros. At CER, R&amp;D expenses increased by 11.8%, reflecting increased expenses in Vaccines (mRNA) and Pharma (pipeline acceleration).
The strong performance of Dupixent, Pharma launches, and Beyfortus late-season deliveries was partially offset by the impact of generic competition on Aubagio&nbsp;as well as&nbsp;lower sales of Lantus.
First-quarter sales of eczema and asthma drug Dupixent jumped a currency-adjusted 24.9% to 2.84 billion euros.
Pharma launches up 90.5% to 606 million euros, led by Nexviazyme and ALTUVIIIO.
Vaccine sales increased by 5.6% to 1.2 billion euros, driven by strong Beyfortus (RSV vaccine) uptake partly offset by the absence of COVID-19 vaccine&nbsp;sales this quarter compared to 167 million euros in Q1 2023
Guidance:&nbsp;For 2024, Sanofi reiterates a low single-digit business EPS decline.
The company expects Dupixent to&nbsp;<a target="_blank" href="https://www.sanofi.com/assets/dotcom/content-app/events/quaterly-results/2024/2024-q1-2024-results/q1-2024-presentation-en.pdf" rel="noreferrer noopener">deliver</a>&nbsp;around €13 billion in 2024 sales.
Vaccine sales&nbsp;are expected&nbsp;to grow mid-single-digit in 2024.
Sanofi shares an ambition to reach blockbuster status (sales over $1 billion) for its Beyfortus vaccine.
Beyfortus sales reached&nbsp;182 million euros, reflecting late deliveries in the US and&nbsp;the new&nbsp;implementation of &#8220;All Infant Protection&#8221; programs in Chile and Australia. No Beyfortus sales&nbsp;are expected&nbsp;in Q2 2024 due to the early delivery in Q1 and the specific seasonality.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38299995/amgenastrazenecas-asthma-drug-tezspire-vs-sanofiregenerons-blockbuster-dupixent-ana" rel="noreferrer noopener">Amgen/AstraZeneca&#8217;s Asthma Drug Tezspire Vs. Sanofi/Regeneron&#8217;s Blockbuster Dupixent &#8211; Analyst Gives His Pick</a>.
Price Action: SNY shares are up 5.40% at $49.13 at the last check Thursday.
Image by HJBC via Shutterstock

Biotech

Large Cap

Health Care

Drugmaker Sanofi's Strong Dupixent And Beyfortus Vaccine Sales Propel Q1 Earnings

Keefe, Bruyette &amp; Woods analyst Kelly Motta reiterates RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) with a Market Perform and raises the price target from $20 to $22.

Keefe, Bruyette & Woods Reiterates Market Perform on RBB Bancorp, Raises Price Target to $22

Amkor Tech's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NYSE">AMKR</a>) short percent of float has fallen 8.02% since its last report. The company recently reported that it has 3.11 million shares sold short, which is 4.7% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Amkor Tech Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052723_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Amkor Tech has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Amkor Tech's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Amkor Tech's peer group average for short interest as a percentage of float is 7.00%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

AMKR

Peering Into Amkor Tech's Recent Short Interest

Moderna's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NYSE">MRNA</a>) short percent of float has fallen 3.53% since its last report. The company recently reported that it has 21.44 million shares sold short, which is 7.38% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Moderna Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052717_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Moderna has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Moderna's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Moderna's peer group average for short interest as a percentage of float is 5.01%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

MRNA

How Is The Market Feeling About Moderna?

BigBear.ai Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) short percent of float has risen 19.54% since its last report. The company recently reported that it has 16.93 million shares sold short, which is 12.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.43 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>BigBear.ai Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052712_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for BigBear.ai Hldgs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing BigBear.ai Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, BigBear.ai Hldgs's peer group average for short interest as a percentage of float is 3.31%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

BBAI

Looking Into BigBear.ai Hldgs's Recent Short Interest

WIIM

CLSK

COIN

MSTR

Shares of crypto-related stocks are trading lower as Bitcoin falls following weak US GDP data.

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Pacific Premier Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBI#NASDAQ">PPBI</a>) with a Market Perform and lowers the price target from $29 to $27.

PPBI

Keefe, Bruyette & Woods Maintains Market Perform on Pacific Premier Bancorp, Lowers Price Target to $27

Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>) shares are trading lower on Thursday.
The company reported first-quarter adjusted earnings per share of $1.72,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38426150/harley-davidson-delivers-first-quarter-financial-results" rel="noreferrer noopener">beating the analyst consensus of $1.51.&nbsp;</a>
The company reported first-quarter HDMC + LiveWire sales of $1.48 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $1.34 billion</a>.&nbsp;HDMC revenue is down 5%, primarily due to a planned decrease in motorcycle shipments.
Consolidated revenue in the first quarter was down 3%, driven by an HDMC revenue decrease, partially offset by HDFS revenue growth of 12%.
In the first quarter, global motorcycle shipments decreased by 7%. The first quarter gross margin was down 4.5 points due to the impacts of pricing and sales incentives, lower volume, and higher manufacturing costs. 
The first quarter operating income margin was down 5.4 points,&nbsp;where&nbsp;operating expenses were roughly flat&nbsp;in the quarter.
Harley-Davidson generated&nbsp;$104 million&nbsp;of cash from operating activities. The company exited the quarter with cash and equivalents of&nbsp;$1.5 billion.
Outlook:&nbsp;&#8220;Harley-Davidson delivered a good start to the year with a six percent retail growth in&nbsp;North America, our largest and most important region,&#8221; said&nbsp;Jochen Zeitz, Chairman, President&nbsp;and&nbsp;CEO,&nbsp;Harley-Davidson.&nbsp;
For the full year 2024, the company continues to expect HDMC revenue&nbsp;flat&nbsp;to down 9% and&nbsp;operating&nbsp;income margin of 12.6%-13.6%.
Harley-Davidson sees LiveWire operating loss of $(105)&nbsp;million-$(115) million in FY24, versus the&nbsp;previous&nbsp;guidance&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">of an operating loss of&nbsp;$(115)&nbsp;million-$(125) million.</a>
The company projects LiveWire electric motorcycle unit sales of 1,000 to 1,500. Harley-Davidson anticipates capital investments of <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">$225 million to $250 million.</a>
Price Action: HOG shares are trading lower by 13.7% to $34.06 at last check Thursday. 
Photo via Wikimedia Commons

Equities

What's Going On With Harley-Davidson Shares After Q1 Results?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/growth-stocks/">Growth stocks</a> have been on a tear over the past year and a half &ndash; that&rsquo;s if you put them all in the same basket. If you invested in Big Tech, AI, or SaaS, you&rsquo;d likely be sitting on some massive gains right now. However, while the rising tide has lifted many boats, not all growth stocks have been rewarded equally.



Many incredible businesses with tremendous growth potential are still trading at very discounted valuations, despite strong operational performance. Their core fundamentals have not only recovered from the downturn but are exceeding pre-pandemic levels in many cases. Yet, Wall Street has failed to reward them accordingly.



At the same time, a lot of these growth stocks are nearing or already achieving profitability, with profits expected to expand rapidly over the coming years. This presents a compelling opportunity to snap up shares of strong companies while they are still under the radar. Once the market notices their execution, their stocks could take off in a big way. Let&rsquo;s take a look!



<h2>Data Storage Corporation (DTST)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/02/fingers-touching-digital-world.jpg"><img width="300" height="180" src="https://investorplace.com/wp-content/uploads/2024/02/fingers-touching-digital-world-300x180.jpg" alt="An image of two fingers touching a holographic digital Earth"></a>As someone who has been following Data Storage Corporation (NASDAQ:<a href="https://investorplace.com/stock-quotes/dtst-stock-quote/">DTST</a>) closely, I can confidently say that this stock continues to deliver impressive returns. Since I first featured DTST, the company has nearly doubled in value. In the past year alone we&rsquo;ve seen DTST rise a whopping 232%, with additional gains of 47% just last month.



Of course, maintaining such torrid growth rates going forward is no sure thing. However, DTST&rsquo;s rising visibility provides clues to further catalysts. For years this company flew under the radar, but new contracts with major cloud and AI players could thrust them into the spotlight. Data Storage Corporation&rsquo;s niche focus on data management solutions positions them to assist the escalating needs of tech giants. With few comparable options at the penny stock level delivering DTST&rsquo;s profitable results and minimal dilution, this story remains compelling.



Landing additional large contracts will go a long way in sustaining the multi-bagger returns investors have enjoyed. While past performance offers no guarantee of alike gains, Data Storage Corporation&rsquo;s technical know-how and strong growth trajectory leave room for further surprises to the upside. At its current valuation, any such developments could multiply the rewards for patient shareholders.



<h2>Fuel Tech Inc. (FTEK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/racecar-300x169.jpg" alt="An image from behind around twenty race cars of various colors in two uneven rows racing on a race track."><div>Source: Action Sports Photography / Shutterstock.com</div></div>While Fuel Tech (NASDAQ:<a href="https://investorplace.com/stock-quotes/ftek-stock-quote/">FTEK</a>) may not scream &ldquo;value play,&rdquo; I still view its quality prospects favorably among <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>. Rather than chasing cheap valuations, my priority lies in identifying small companies poised for explosive growth. Fuel Tech fits this profile through exposure to robust environmental tech demand.



To be sure, profits remain near breakeven for now. But the market typically rewards execution, not accounting results alone. Analyst estimates foresee accelerating 20%-plus annual revenue gains, with minimal ongoing losses that pose little threat to Fuel Tech&rsquo;s robust balance sheet. As the world transitions toward emission-curbing solutions, the company is well-positioned to complement industry adoption.



Some investors may balk at the stock&rsquo;s current unprofitability. I understand the concern. However, given reasonable <a href="https://seekingalpha.com/symbol/FTEK/earnings/estimates" target="_blank">profitability expectations starting in 2027</a>, it seems early criticism disregards Fuel Tech&rsquo;s long runway for cash flow expansion. Quality often commands its worth&mdash;if guidance proves accurate, shareholders stand to enjoy the rewards of foresight. Total losses until it hits profitability is expected to be less than $10 million. The company has $28.3 million in cash and negligible debt.



<h2>Applied Digital Corporation (APLD)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/04/datacentermsn-300x165.jpg" alt="Image of a well-lit data center"><div>Source: Shutterstock</div></div>As a provider of data center solutions including crypto mining operations, Applied Digital Corporation (NASDAQ:<a href="https://investorplace.com/stock-quotes/apld-stock-quote/">APLD</a>) offers a unique angle on the thriving technology industry. Despite doubts about cryptocurrency&rsquo;s influence, I see APLD&rsquo;s exposure ultimately enhancing long-term prospects.



Blockchain applications and associated mining demand will likely intensify alongside crypto&rsquo;s patented volatility. As the network effects strengthen, miners require ever-greater infrastructure to satisfy increasing hash rates. Simultaneously, AI and other digital innovations spur massive data needs&mdash;all benefiting APLD.



While some dismiss crypto ties as posing risk, the cyclical nature of currencies creates stable opportunities. Miners rapidly build new fleets during downcycles in preparation for the next rally, bolstering Applied Digital&rsquo;s utilization and potential revenue quadrupling.



At just <a href="https://seekingalpha.com/symbol/APLD/earnings/estimates" target="_blank">6x estimated 2025 earnings</a>, APLD sits at an attractive entry point before its progress resonates more broadly. Multi-bagger gains could ensue as business relationships in high-growth industries take the company&rsquo;s valuation to new heights.



<h2>BlackSky Technology Inc (BKSY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/passenger-craft-space-flight-300x169.png" alt="An image of a rendered space craft flying above Earth"><div>Source: andrey_l/Shutterstock</div></div>Military and civic-oriented companies alike demand high-quality intelligence, and BlackSky (NYSE:<a href="https://investorplace.com/stock-quotes/bksy-stock-quote/">BKSY</a>) aims to deliver through its growing constellation of low Earth orbit satellites. Unlike many fledgling space firms hemorrhaging funds, BlackSky boasts relatively sound financials &ndash; traits I find reassuring in such a speculative industry.



Analyst projections citing <a href="https://seekingalpha.com/symbol/BKSY/earnings/estimates" target="_blank">profitability by 2026</a> and sales doubling 2024 to 2026 point to BlackSky&rsquo;s maturing business model. While some may doubt multi-million dollar contracts materialize as planned, the company&rsquo;s $52 million cash reserves provide valuable wiggle room through interim losses. With shares anchored near $1.50 for over two years, the downside appears limited should milestones fail to meet optimism.



At the same time, BlackSky holds significant strategic interests in the commercial and defense sectors. As geopolitical tensions rise globally, demand for real-time surveillance only grows. If BlackSky succeeds in capturing a sizable customer base as forecasted, <a href="https://www.tipranks.com/stocks/bksy/forecast" target="_blank">$3.50 price targets</a> could prove conservative. For adventurous investors, the risk-reward profile makes BlackSky worth a look at current valuations.



<h2>Hive Blockchain Technologies (HIVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/hive-1600-300x169.png" alt="HIVE Blockchain Technologies logo over a map of the world. HIVE stock."><div>Source: karnoff / Shutterstock</div></div>Bitcoin&rsquo;s (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) climb past $71,000 highlights mining firms&rsquo; under-appreciated upside. While some dismiss crypto on principle, Hive Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/hive-stock-quote/">HIVE</a>) offers a reliable way to leverage Bitcoin&rsquo;s momentum without direct ownership. Miners like HIVE stockpiled currency during crypto winter, arming themselves for explosive gains as we enter the bull season.



<a href="https://hivedigitaltechnologies.com/news/hive-digital-announces-bitcoin-production-and-hodl-growth-in-february-2024-to-2131-bitcoins/" target="_blank">Expanding mining capacity of over 4 exahashes</a> since last month bodes well for HIVE&rsquo;s 200 Bitcoin February haul. With 10% higher Bitcoin reserves reaching 2,131 coins, HIVE readies itself as blocking rewards halve and difficulty rises. Many forecast mining profits squeeze, but firms prepared for this event years ago.



Miners hold a BTC stash that swells with Bitcoin&rsquo;s tide. With the tide now flooding, mining shares appear primed to synchronize. HIVE looks well-positioned to translate growing hash power into soaring share price.



<h2>Forian Inc. (FORA)</h2>



<a href="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_566877226-scaled.jpg"><img width="300" height="162" src="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_566877226-300x162.jpg" alt="A 3D image of a hand touching an illustration of the earth."></a>Forian (NASDAQ:<a href="https://investorplace.com/stock-quotes/fora-stock-quote/">FORA</a>) is an under-the-radar data analytics and SaaS play. The market has yet to recognize FORA&rsquo;s hidden value. Likely overshadowed in obscurity with its sub-$90 million cap, FORA nonetheless maintains stable growth finances that merit a closer look.



The company <a href="https://www.google.com/finance/quote/FORA:NASDAQ" target="_blank">had $28 million in revenue and $26 million in losses in 2022</a>. It has been improving margins greatly since then. Analysts expect 6 cents in EPS for 2023 followed by some more <a href="https://seekingalpha.com/symbol/FORA/earnings/estimates" target="_blank">losses near breakeven</a> that can be handled with its cash balance. Meanwhile, it is expected to post 15% annual revenue growth going forward as operations stabilize post-pandemic. The company&rsquo;s $49 million cash pile can easily sustain losses until it hits profitability.



Undoubtedly, wider profits remain years away. However, as artificial intelligence reshapes business, demand will follow. Growth is on the mend and Forian looks like a big SaaS player in the making.



<h2>Bit Digital Inc (BTBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/shutterstock_772693789-300x169.jpg" alt="Bit Digital (BTBT stock): several rows of processors in a crypto mining farm."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock</div></div>As I have noted previously, Bitcoin&rsquo;s latest surge has energized crypto markets. However, mining stocks have curiously lagged the recovery. Bit Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/btbt-stock-quote/">BTBT</a>) is one of them and it looks primed to play catch up should sentiment heal. With <a href="https://bit-digital.com/press-releases/bit-digital-inc-announces-monthly-production-update-for-february-2024/" target="_blank">over $160 million in digital holdings</a> (as of writing) and $38 million in fiat reserves, BTBT fields ample firepower to weather ongoing volatility.



It mined 128.7 Bitcoin in February, and Bit Digital has been aggressively expanding its fleet along with other miners in anticipation of the halving.



All that remains is restoring traders&rsquo; faith in miners&rsquo; potential. As Bitcoin matures into a $1.5 trillion asset and likely beyond, mining firms facilitating the network gain recognition. Their growing stash of BTC won&rsquo;t be discounted forever.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-growth-stocks-that-could-turn-10000-into-500000/">7 Growth Stocks That Could Turn $10,000 Into $500,000</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Growth Stocks That Could Turn $10,000 Into $500,000

Analysts have been eager to weigh in on the Technology sector with new ratings on Jamf Holding (JAMF – Research Report), BlackSky Technology (BKSY ...

Analysts Offer Insights on Technology Companies: Jamf Holding (JAMF), BlackSky Technology (BKSY) and UiPath (PATH)

In a report released today, Jeff Van Rhee from Craig-Hallum maintained a Hold rating on BlackSky Technology (BKSY – Research Report). The company's...

Craig-Hallum Keeps Their Hold Rating on BlackSky Technology (BKSY)

Blacksky Technology Inc (BKSY) is near the top in its industry group according to InvestorsObserver. BKSY gets an overall rating of 55. That means it scores higher than 55 percent of stocks. Blacksky Technology Inc gets a 74 rank in the Scientific and Technical Instruments industry. Scientific and Technical Instruments is

Should Scientific & Technical Instruments Stock Blacksky Technology Inc (BKSY) Be in Your Portfolio Thursday?

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Buy Rating on BlackSky Technology: Poised for Growth Amid Rising Geospatial Intelligence Demand

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
For the most extreme opportunities in the market this side of an options trade, your best bet may be to consider <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> to watch in Q2. And by bet, I&rsquo;m meaning exactly that &ndash; this arena should be treated like a casino.



That&rsquo;s no disrespect to the legitimate enterprises on this list. However, much like when the coach puts you into &ldquo;special&rdquo; teams, you have to protect yourself. Anybody who has played football knows that there&rsquo;s nothing special about special teams. You offer your body as a battering ram and hopefully, you don&rsquo;t get injured.



That&rsquo;s the same thing with speculative market ideas. Their proponents will argue till they&rsquo;re blue in the face that these are hidden-gem opportunities. Maybe they are. But you still must protect your portfolio. With that, there may be some enticing ideas here. Below are penny stocks to watch in Q2.



<h2>GrowGeneration (GRWG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/grwg-stock-1600-300x169.jpg" alt="Cannabis leaves and stems are grown hydroponically in the garden."><div>Source: LuYago / Shutterstock.com</div></div>Falling under the consumer cyclical sector, GrowGeneration (NASDAQ:<a href="https://investorplace.com/stock-quotes/grwg-stock-quote/">GRWG</a>) owns and operates retail hydroponic and organic gardening stores in the U.S. It&rsquo;s not really a cannabis player. However, because the company markets and distributes products such as nutrients, additives and environmental control systems, the association can&rsquo;t be avoided. It is but it isn&rsquo;t (but it is).



Thanks to rising calls for rescheduling marijuana down to a lesser enforcement category, GRWG stock has benefited handsomely. That&rsquo;s because demand should accelerate with a more favorable federal backdrop. Even some clarity on the matter could do wonders for the cannabis industry.



Therefore, I&rsquo;m not particularly worried about GrowGeneration&rsquo;s less-than-favorable quarterly earnings performance last year. Yes, the average surprise came out to nearly 63% below breakeven. In addition, fiscal 2024 projections call for revenue of $225.88 million. That&rsquo;s 7.5% down on a year-over-year basis.



But if the legal framework improves or receives more clarity? That could be the real catalyst. Therefore, investors should keep close tabs on GRWG as one of the penny stocks to watch in Q2.



<h2>US Energy (USEG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/oil-price-predictions1600-300x169.png" alt="Rise in gasoline prices concept with double exposure of digital screen with financial chart graphs and oil pumps on a field. Oil prices and oil price predictions"><div>Source: Golden Dayz / Shutterstock.com</div></div>Operating under the hydrocarbon energy space, US Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/useg-stock-quote/">USEG</a>) operates in the exploration and production segment of the value chain. It&rsquo;s an independent company, focused on core upstream activities including acquisitions. Per the company&rsquo;s <a href="https://finance.yahoo.com/quote/USEG/profile">public profile</a>, US Energy holds interests in various oil and gas properties located in the Rockies region.



To be fair, USEG stock is an incredibly risky idea among penny stocks to watch in Q2. A big part of the reason why is the financial volatility. It just can&rsquo;t seem to catch a break in terms of bottom-line quarterly targets. That said, for the current fiscal year, experts believe that US Energy will post a loss of 31 cents. While not great, that&rsquo;s much better than last year&rsquo;s print of a loss of $1.28.



Now, projected sales of $30.86 million is down 4.5% YOY. However, given the geopolitical dynamic, crude oil and other critical hydrocarbon supplies will likely diminish. Combined with rising demand based on heightened consumption, USEG is a name to keep tabs on.



<h2>Arbe Robotics (ARBE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/semiconductor1600c-300x169.jpg" alt="AI. Circuit board. Technology background. Central Computer Processors CPU concept. Motherboard digital chip. Tech science background. Integrated communication processor. 3D illustration representing semiconductor stocks. Semiconductors Stocks to Sell"><div>Source: Shutterstock</div></div>Operating in the technology space, Arbe Robotics (NASDAQ:<a href="https://investorplace.com/stock-quotes/arbe-stock-quote/">ARBE</a>) focuses on infrastructure software. Per its <a href="https://finance.yahoo.com/quote/ARBE/profile">corporate profile</a>, Arbe is a semiconductor enterprise, providing 4D imaging radar solutions for Tier 1 automotive suppliers and manufacturers. Its business networks cover China, Sweden, Germany, Switzerland, the U.S., Italy and Israel. Mainly, Arbe seeks to address the core issues that have caused autonomous-vehicle and autopilot accidents.



For full disclosure, ARBE ranks among the riskier ideas in the market. One look at its 52-week chart tells you what you need to know. At the same time, it&rsquo;s also one of the penny stocks to watch in Q2. While autonomous mobility has rapidly increased in scope and scale, lingering trust issues remain. Arbe could potentially fill a critical gap, thus imbuing a major catalyst for the underlying security.



Granted, the company&rsquo;s fiscal 2023 performance wasn&rsquo;t all that great. However, in fiscal 2024, analysts anticipate that Arbe will post revenue of $1.65 million, up 12.2% YOY. Not only that, covering experts rate shares a <a href="https://www.tipranks.com/stocks/arbe/forecast">unanimous strong buy</a> with a $3.50 price target.



<h2>LightPath Technologies (LPTH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/penny-stocks-1600-300x169.jpg" alt="Page of newspaper with words penny stocks. Undervalued Penny Stocks"><div>Source: Vitalii Vodolazskyi / Shutterstock.com</div></div>Conducting business in the broader technology sphere, LightPath Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/lpth-stock-quote/">LPTH</a>) operates in the electronic components subcategory. Per its <a href="https://finance.yahoo.com/quote/LPTH/profile">corporate profile</a>, LightPath designs, develops, manufactures and distributes optical components and assemblies. Specifically, the company offers products such as precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components.



Surprisingly, LPTH has performed reasonably well considering its speculative nature. Shares appear to be charting a series of higher lows since December last year. Therefore, it could be one of the penny stocks to watch in Q2. To be fair, LightPath could use consistently better performances on the financial side of the business. That&rsquo;s where the risk comes in.



For fiscal 2024, analysts see LightPath losing 15 cents per share on revenue of $32.57 million. That&rsquo;s disappointing compared to last year&rsquo;s results of a loss of 13 cents on $32.93 million in sales. However, the top line could expand to $39.14 million in fiscal 2025.



Notably, analysts peg shares as a <a href="https://www.tipranks.com/stocks/lpth/forecast">moderate buy</a> with a $3 price target.



<h2>BlackSky Technology (BKSY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/penny-stocks-1600-300x169.jpg" alt="A concept image of a penny sitting on a stock chart"><div>Source: Billion Photos / Shutterstock.com</div></div>Working in the technology realm, BlackSky Technology (NYSE:<a href="https://investorplace.com/stock-quotes/bksy-stock-quote/">BKSY</a>) focuses on the scientific and technical instruments subcategory. According to its <a href="https://finance.yahoo.com/quote/BKSY/profile">public profile</a>, BlackSky provides geospatial intelligence, imagery and related data analytic products and services. It also offers mission systems that include the development, integration and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, Asia-Pacific and internationally.



Interestingly, BlackSky has been delivering some strong results. Don&rsquo;t get me wrong &ndash; it&rsquo;s not always consistent. For example, last year in the second quarter, the company posted a loss of 23 cents against an expected loss of 12 cents. That said, the overall quarterly surprise last year was 22.6%.



For fiscal 2024, experts believe BlackSky will post a loss of 28 cents per share on revenue of $111.62 million. Conspicuously, the projected top line represents an 18.1% YOY lift against 2023&rsquo;s haul of $94.49 million.



Lastly, analysts rate shares a <a href="https://www.tipranks.com/stocks/bksy">consensus strong buy</a> with a $3.17 price target. It&rsquo;s one of the penny stocks to watch in Q2.



<h2>Rigetti (RGTI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/quantum-computing-3-300x169.jpg" alt="A concept image showing a quantum computer with a matrix background; quantum computing. leading quantum stocks, Best Quantum Computing Stocks to Buy"><div>Source: Shutterstock</div></div>Another tech player, Rigetti (NASDAQ:<a href="https://investorplace.com/stock-quotes/rgti-stock-quote/">RGTI</a>) operates under the computer hardware segment. Through its subsidiaries, Rigetti builds quantum computers and superconducting quantum processors. Further, the company offers cloud computing solutions as a quantum processing unit. It also sells access to its quantum computers via a subscription business model. Given the exponentially accelerated capacities of the quantum paradigm, RGTI is easily one of the penny stocks to watch in Q2.



Still, as with other speculative enterprises, prospective investors must balance the upside potential with the serious possibility of extreme downside. For example, last fiscal year, the company badly missed bottom-line targets in Q1 and Q3. However, it also beat by a wide margin expectations in Q2 and Q4.



For fiscal 2024, analysts believe Rigetti will post a loss of 38 cents on revenue of $16.1 million. Last year, it delivered a loss of 57 cents on sales of $12.01 million. Therefore, the top line could expand by a whopping 34.1%.



Experts peg RGTI a <a href="https://www.tipranks.com/stocks/rgti/forecast">unanimous strong buy</a> with a $3.17 price target.



<h2>Wag! Group (PET)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/pet-stocks-300x169.jpg" alt="A photo of an old woman and a dog sitting on a couch. pet stocks"><div>Source: SeventyFour / Shutterstock.com</div></div>Doing business as an application software specialist, Wag! Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/pet-stock-quote/">PET</a>) may be one of the most intriguing ideas for penny stocks to watch in Q2. <a href="https://finance.yahoo.com/quote/PET/profile">Per its corporate profile</a>, Wag! develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents.



Fundamentally, Americans love their pets so that should be a huge plus for PET stock. More importantly, it&rsquo;s not just rhetoric. Recently, the American Pet Products Association revealed that in 2023, <a href="https://www.americanpetproducts.org/news/press-release/u.s.-pet-industry-reaches-147-billion-in-sales-in-2023">we collectively spent $147 billion on our furry friends</a>. Armed with a nothing-but-the-best attitude, Wag! &ndash; which incredibly speculative &ndash; should be attractive, even in this tough economic environment.



Notably, experts anticipate the company&rsquo;s loss per share to reach 22 cents. That would be a favorable print compared to last year&rsquo;s loss of 35 cents. Moreover, they believe sales should hit $108.43 million, up 29.2% from last year&rsquo;s haul of $83.92 million.



Finally, Craig-Hallum rates PET a &ldquo;buy&rdquo; with a <a href="https://www.tipranks.com/stocks/pet/forecast">$5.50 price target</a>. That&rsquo;s massive upside if it gets there.



On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions,&nbsp;InvestorPlace&nbsp;does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s&nbsp;writers disclose this fact and warn readers of the risks.



Read More:&#8239;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">Penny Stocks &mdash;&nbsp;How to Profit Without Getting Scammed</a>



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-penny-stocks-that-deserve-a-closer-look-in-q2/">7 Penny Stocks That Deserve a Closer Look in Q2</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Stocks That Deserve a Closer Look in Q2

Analysts have been eager to weigh in on the Technology sector with new ratings on BlackSky Technology (BKSY – Research Report), indie Semiconductor...

Analysts' Opinions Are Mixed on These Technology Stocks: BlackSky Technology (BKSY), indie Semiconductor (INDI) and Vuzix (VUZI)

BlackSky Technology Appears Undervalued Despite Recent Major Contract Wins

APLD

ARBE

BTBT

DTST

FORA

FTEK

GRWG

HIVE

INDI

JAMF

LPTH

PATH

RGTI

USEG

VUZI

Press Releases

BlackSky to Participate at Three Upcoming Investor Conferences

BlackSky Wins Initial Task Order Exceeding $1 Million Against New Multi-Year Contract to Deliver Space-based Intelligence Capabilities to Indonesian Ministry of Defense

IARPA Selects BlackSky Spectra® Software Platform as Leading Space-Based AI Approach for Bringing Speed and Scalability to Broad Area Search Mission

BlackSky to Host Fourth Quarter and Full Year 2023 Results Conference Call

BlackSky Wins Approximately $50 Million in Multi-Year Contracts for Gen-3 Capabilities and Services to Accelerate Sovereign Space Capabilities for Indonesian Ministry of Defense