Short interest for Sortis Holdings gives investors a sense of the degree to which investors are betting on the decline of Sortis Holdings's stock. Short interest data is updated every two weeks.

Sortis Holdings Stock (OTC:SOHI), Short Interest Report

Sortis Holdings Inc is a finance company. The company operates in the business of providing alternative lending solutions through the use of technology and extensive lending experience. It is engaged in the mortgage loan servicing business for loans.

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

2 Micro-Cap OTC Companies Thriving During COVID-19

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Sortis Holdings, Inc. (OTC Pink: SOHI) Accelerates Investment Activity Amid Crisis

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Stocks That Hit 52-Week Lows On Monday

SORTIS HOLDINGS INC by Sortis Holdings, Inc.

Sortis Holdings Inc

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M/I Homes shares are trading higher after the company reported better-than-expected Q1 financial results.

Management

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NeoVolta Appoints Ardes Johnson As CEO

Stride shares are trading higher after the company reported better-than-expected Q3 financial results and issued FY24 revenue guidance above estimates.

Roth MKM analyst Sean McGowan maintains GameSquare Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) with a Buy and lowers the price target from $7 to $5.

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GAME

Roth MKM Maintains Buy on GameSquare Holdings, Lowers Price Target to $5

<ul>
<li>Detailed results from randomized controlled Bentrio&#xAE; trial in seasonal allergic rhinitis published in Allergy journal</li>
<li>Study met primary efficacy endpoint of improvement in nasal symptoms (p = 0.013)</li>
<li>Corroborated by statistically significant improvement in health-related quality of life and reduced need for relief medication</li>
<li>Study outcomes support plans for further international expansion</li>
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Altamira Therapeutics Announces Publication Of Results From Bentrio Trial In Seasonal Allergic Rhinitis In Peer Reviewed Journal

Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) may install 85,000&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100 chips by year-end to train its artificial intelligence (AI) models.&nbsp;
If CEO Elon Musk proceeds with this plan, Tesla will surpass tech giants like&nbsp;Amazon.Com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;as a significant Nvidia customer.&nbsp;
During Tesla&#8217;s first quarterly earnings report for 2024, Musk disclosed that the company currently possesses 35,000 H100 chips, the most advanced and expensive graphics processing units designed for AI applications, CNBC&nbsp;<a target="_blank" href="https://www.cnbctv18.com/technology/tesla-nvidia-h100-biggest-buyer-google-amazon-microsoft-meta-19401278.htm" rel="noreferrer noopener">reports</a>.
These chips are vital for Musk&#8217;s AI initiatives, which include the development of advanced robots like Optimus Bot and Robotaxi and a supercomputer named Dojo.
Reports indicate that&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is Nvidia&#8217;s largest customer.&nbsp;
According to the World Economic Forum, Nvidia produced 550,000 chips last year, and companies must wait until 2024 to secure additional supplies.&nbsp;
Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is the second-largest buyer, as stated by Omdia, with an order of 150,000 GPUs in 2023. Other significant purchasers include Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Tencent Holding Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), Google, and Amazon, each reportedly acquiring 50,000 chips. Meta, Microsoft, Google, and Amazon nearly account for 40% of Nvidia&#8217;s revenue. CNBC writes.&nbsp;
Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers" rel="noreferrer noopener">had mocked Nvidia&#8217;s</a>&nbsp;substantial market capitalization loss on April 19, calling the 10% stock decline &#8220;rookie numbers&#8221; on X, formerly Twitter.&nbsp;
Nvidia experienced a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38358181/whats-going-on-with-nvidia-and-amd-stocks-on-monday" rel="noreferrer noopener">significant drop in</a>&nbsp;stock value, shedding $211 billion in market capitalization, marking the second-largest single-day loss in U.S. stock market history.&nbsp;
This steep decline&nbsp;was triggered&nbsp;by disappointing earnings from&nbsp;ASML Holdings NV&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and a pessimistic market outlook from&nbsp;Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).&nbsp;
Meanwhile, analysts maintained their bullish stance on Nvidia, expecting it to rule the accelerator market primarily backed by&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38388117/whats-going-on-with-nvidia-and-amd-stocks-on-tuesday" rel="noreferrer noopener">its Blackwell product</a>.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24044332/newplot-27.png" alt="" class="wp-image-305990" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24044332/newplot-27.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24044332/newplot-27-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Nvidia stock gained 205% in the last 12 months. Tesla stock lost 11%.
Price Actions: TSLA shares traded higher by 11.40% at $161.21 premarket at the last check Wednesday.
Photo courtesy: Shutterstock

Tech

Media

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TSLA

Elon Musk's Big Bet: Tesla to Ramp Up AI Development with Nvidia's Powerful Chips

Bunge shares are trading lower after the company reported mixed Q1 financial results and issued FY24 adjusted EPS guidance below estimates.

Generative AI will help advance Moderna's broad and diverse portfolio to maximize the Company's impact on patients
Moderna embeds OpenAI's generative AI tools throughout its organization and sees early success with broad adoption of ChatGPT Enterprise

MRNA

Moderna And OpenAI Collaborate To Advance mRNA Medicine

B. Riley Securities analyst Hal Goetsch maintains Oportun Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRT#NASDAQ">OPRT</a>) with a Buy and lowers the price target from $9 to $8.

OPRT

B. Riley Securities Maintains Buy on Oportun Financial, Lowers Price Target to $8

Masco shares are trading lower after the company reported mixed Q1 financial results.

Canaccord Genuity analyst Austin Moeller maintains Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) with a Buy and lowers the price target from $132 to $130.

ENPH

Canaccord Genuity Maintains Buy on Enphase Energy, Lowers Price Target to $130

B. Riley Securities analyst Anna Glaessgen maintains Hibbett (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIBB#NASDAQ">HIBB</a>) with a Neutral and raises the price target from $70 to $87.5.

HIBB

B. Riley Securities Maintains Neutral on Hibbett, Raises Price Target to $87.5

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares are trading higher Wednesday after the U.S. Senate passed a bill under which ByteDance would need to divest TikTok or <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats">face a ban in the U.S.</a>
What Happened: Late Tuesday, Congress passed new legislation to ban or force a sale of popular social media platform TikTok, according to a <a href="https://www.washingtonpost.com/technology/2024/04/23/tiktok-ban-senate-vote-sale-biden/">report</a> from the Washington Post. 
The Senate approved the bill 79 to 18 as part of an aid package for Israel, Ukraine and Taiwan. The House already approved the bill over the weekend, so the proposal is now headed to President Joe Biden&#8217;s desk, who is expected to sign it this week. 
Once the bill is signed, parent company ByteDance, which has been scrutinized for potential connections to the Chinese Communist Party, will have approximately nine months to sell TikTok. If the company fails to divest the popular app within that time, it will face a national ban.
The lawmakers who are pushing hard to implement restrictions on TikTok have cited concerns that ByteDance ownership may allow the Chinese government to access American user data.
From Last Month: <a href="https://www.benzinga.com/news/24/03/37594839/enemy-of-the-people-trump-slams-meta-stock-as-tiktok-ban-faces-scrutiny">&#8216;Enemy Of The People&#8217;: Trump Slams Meta Stock As TikTok Ban Faces Scrutiny</a>
Meta Platforms is due to report <a href="https://www.benzinga.com/calendars/earnings">first-quarter financial results</a> after the market close on Wednesday. The company is expected to report earnings of $4.32 per share on revenue of $36.156 billion, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Last quarter, Meta delivered an upside surprise when it reported <a href="https://www.benzinga.com/news/earnings/24/02/36899267/meta-platforms-q4-earnings-highlights-revenue-beat-eps-beat-companys-first-dividend-and-more">better-than-expected results</a>, initiated a quarterly dividend and announced a $50 billion increase to its buyback program. 
Meta said it focused on increasing its operating discipline, delivering strong execution and improving advertising performance in 2023. In 2024, the company said it plans to build on its progress in each of those areas while advancing longer-term ambitions in AI and Reality Labs. 
META Price Action: Meta shares were up 2.86% at $510.31 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Earnings

Previews

What's Going On With Meta Platforms Stock Wednesday?

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is scheduled to post earnings results for its first quarter, after the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38387398/meta-platforms-q1-earnings-preview-marginally-cautious-ai-opportunity-could-prove-f">closing bell on Wednesday</a>.
Analysts expect the Menlo Park, California-based company to report quarterly earnings at $4.32 per share, up from $2.20 per share in the year-ago period. Meta is projected to report quarterly revenue of $36.16 billion, up from $28.64 billion in the same quarter last year, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Meta has beaten revenue estimates from analysts in six straight quarters.
On April 22, Keybanc analyst Justin Patterson maintained Meta Platforms with an Overweight rating and lowered the price target from $575 to $555, while JMP Securities analyst Andrew Boone reiterated the stock with a Market Outperform and maintained a $550 price target.
With the recent buzz around Meta Platforms, some investors may be eyeing potential gains from the company's dividends. As of now, Meta Platforms has a dividend yield of 0.40%, which is a quarterly dividend amount of 50 cents a share ($2.00 a year).
To figure out how to earn $500 monthly from Meta Platforms, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Meta's $2.00 dividend: $6,000 / $2.00 &nbsp;= 3,000 shares
So, an investor would need to own approximately $1,488,300 worth of Meta Platforms, or 3,000 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $2.00 = 600 shares, or $297,660 to generate a monthly dividend income of $100.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/04/38396278/investor-sentiment-improves-further-dow-jumps-over-250-points">Investor Sentiment Improves Further, Dow Jumps Over 250 Points</a>
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
META Price Action: Shares of Meta Platforms rose 3% to close at $496.10 on Tuesday.
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38396305/tesla-boeing-and-3-stocks-to-watch-heading-into-wednesday">Tesla, Boeing And 3 Stocks To Watch Heading Into Wednesday</a>
Photo: Shutterstock

Long Ideas

How To Earn $500 A Month From Meta Platforms Stock Ahead Of Q1 Earnings

Amazon.Com,&nbsp;Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is establishing cloud regions in Southeast Asia in response to customer demands for secure local data storage.
&#8220;The reason for this is that many of our customers have been asking for that.&nbsp;They really wanted something local&nbsp;such that they can&nbsp;meet, for example, local data storage requirements, or protection of&nbsp;personal identifiable information,&#8221; CNBC&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/24/amazon-cto-on-opening-southeast-asia-cloud-regions.html" rel="noreferrer noopener">cites</a>&nbsp;from Amazon&#8217;s Chief Technology Officer Werner Vogels&#8217; interview.
Amazon Web Services (AWS), Amazon&#8217;s cloud computing division, led the global cloud service market in the fourth quarter, capturing 31% of total cloud spending, says a Canalys report according to CNBC.
An AWS region consists of a physical location with clusters of data centers. Each area contains at least three separate availability zones, each equipped with power, cooling, and physical security and connected by redundant, ultra-low-latency networks.
Vogels noted that startups, large enterprises, and government agencies seek local technological deployments.&nbsp;
In November, Amazon announced the launch of a new AWS Region in Malaysia and committed to investing 25.5 billion Malaysian ringgit ($6 billion) by 2037. This investment supports the Malaysian government&#8217;s goal of transforming the country into a high-income digital economy by 2030.
Following the opening of cloud regions in Indonesia in December 2021 and Singapore in 2010, AWS plans to introduce an infrastructure region in Thailand.
AWS already operates multiple regions across various global locations, including North America, South America, Europe, China, Asia Pacific, South Africa, and the Middle East.
Analysts have flagged Amazon&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38322252/amazon-analyst-predicts-lead-in-ai-revolution-with-strategic-cost-efficiency-and-tech-innovations" rel="noreferrer noopener">leading position in</a>&nbsp;generative AI, predicting significant advantages from its development of AI chips and diverse&nbsp;large&nbsp;language model offerings.&nbsp;
For AWS, a quarter-over-quarter growth of $545 million and a 16% year-over-year increase are likely slightly ahead of the market&#8217;s 15% expectation.&nbsp;
They&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38364395/amazons-earnings-poised-for-boost-from-aws-ads-and-retail-innovation-bofa-analyst" rel="noreferrer noopener">highlighted potential growth</a>&nbsp;from AWS, advertising, and outperformance in the retail segment, with AWS expected to achieve a 16% year-over-year increase, slightly surpassing market expectations. Analysts also remain optimistic about Amazon&#8217;s eCommerce growth, supported by increased U.S. online spending and new developments like Prime Video ads and AI enhancements at the upcoming Worldwide Developer Conference.
Amazon stock gained over 69% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund&nbsp;&#8211;&nbsp;Consumer Discretionary&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and&nbsp;Vanguard Consumer Discretion ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>).
Price Action:&nbsp;AMZN shares traded higher by 0.43% at $180.31 premarket on&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Company

Select Sector SPDR-Consumer Discretionary

Amazon to Open More Cloud Centers in Southeast Asia for Better Data Protection

B. Riley Securities analyst Christopher Souther maintains Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) with a Buy and lowers the price target from $149 to $133.

B. Riley Securities Maintains Buy on Enphase Energy, Lowers Price Target to $133

Following Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)<a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp"> first-quarter earnings release,</a> Wedbush analyst Daniel Ives maintained his bullish recommendation.
The Tesla Analyst: Ives maintained an Outperform rating, but reduced the price target from $300 to $275, citing his lowered estimates for the company. 
The Tesla Thesis: Tesla delivered a &#8220;rip the band-aid off 1Q,&#8221; with the <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">disaster results</a> widely expected by the Street following the weak quarterly delivery numbers, said Ives in a note. The focus of the analysts and investors was, however, around the blueprint and roadmap for growth, he said.
The analyst also approved of CEO Elon Musk&#8217;s earnings call comments. &#8220;In a much-needed conference call Elon Musk finally stepped up as the adult in the room and laid the foundation for Tesla&#8217;s growth strategy, with most importantly a lower cost vehicle now slated for 2025 production and delivery,&#8221; he said.
This quelled anxiety among investors that Musk would take Tesla straight to robotaxis and essentially ditch the low-cost Model 2 vehicle, he had. 
&#8220;Instead it appears a &#8216;Model 2.5&#8217; will be the answer with a lower cost EV vehicle that we believe will be in the $25k-$30k range that uses &#8216;aspects of the next-gen platform&#8217; as well as the current platform and will be produced on current factory lines,&#8221; Ives said.
More importantly, the timeline for such a vehicle has been accelerated from the second half of 2025 and this EV will be key to Tesla&#8217;s volume turnaround in 2025, he said, adding &#8220;While it&#8217;s not a next-generation Model 2 platform, we believe this is the right strategy and move at the right time.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need To Know About Tesla Stock</a>
The autonomy and full self-driving, according to Ives, is a key longer-term strategy but he sees regulatory hurdles and technology challenges serving as pushbacks.
&#8220;Clearly Tesla is going through a challenging period of delivery growth and this story will not turn around overnight so patience is required,&#8221; the analyst said. But he is encouraged by Musk taking tighter control of the reigns of Tesla, the lower-cost vehicle on the roadmap, cost cuts, FSD advancements, and ample financial power/treasure chest.
Ives cautioned of potential execution missteps. &#8220;Execution of the lower cost vehicle and driving incremental demand in the key China market must be flawless….otherwise this could derail the bull thesis in the next 6 to 12 months,&#8221; he said.
The &#8220;next wave of the Tesla growth story&#8221; and the &#8220;autonomous vision&#8221; was now forming, reinforcing Wedbush&#8217;s bullish thesis, the analyst said.
Tesla Price Action: In premarket trading on Wednesday, Tesla climbed 11.57% to $161.42, according to Benzinga Pro data.
Tesla Photo by Sheila Fitzgerald on Shutterstock

Analyst Color

Earnings Misses

Equities

Reiteration

Tesla Bull Says Elon Musk Delivered 'Rip The Band-Aid Off' Q1 But Cautions This Could Derail Bullish Thesis

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">making waves again</a> is making waves again with significant burn rates, wallet movements, a good first-quarter performance and ecosystem developments.
What Happened: Shibburn data reveals a spike of 2,211.9% in burn rate in the past 24 hours, with a single transaction burning 1.8 million SHIB coins around two hours ago.
Shibburn data reveals a spike of 2,211.9% in burn rate in the past 24 hours, with a single transaction burning 1.8 million SHIB. 
Whale Alert <a href="https://twitter.com/whale_alert/status/1782930203393565004?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1782930203393565004%7Ctwgr%5E1d13da3e7916f44ac2b58af30e299c6305b47ac5%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F04%2F24%2Frobinhood-shuffles-3000000000000-shiba-inu-in-one-transaction%2F">data</a> highlights the movement of 3 trillion SHIB tokens, worth $79.9 million, from one unknown wallet to another, both belonging to the trading platform Robinhood. This could be an internal shuffle carried out by the exchange to maintain security and optimize asset management. 
Tangem wallet <a href="https://twitter.com/Tangem/status/1782734816502280673?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1782734816502280673%7Ctwgr%5E4e700220b6bb2a9eb01317a4d745aa9fe57a6a91%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F04%2F24%2Ftangem-wallet-adds-shiba-inu-as-payment-method%2F">announced</a> its support for payments in selected cryptocurrencies, with Shiba Inu being the only meme coin.
Price Action: At the time of writing, SHIB was trading at $0.00002723, up 3.2% over the past 24 hours, taking weekly gains to 24.7%. In the past 24 hours, Shiba Inu trading volume has expanded by 32% despite a marginal increase in its price.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38337646/dogecoin-killer-shiba-inu-whale-transactions-spike-55-100b-by-2025-predicts-crypto-investo">&#8216;Dogecoin Killer&#8217; Shiba Inu Whale Transactions Spike 55%: &#8216;$100B By 2025,&#8217; Predicts Crypto Investor</a>
Why It Matters: IntoTheBlock data highlights an increase of 3.2% in large transaction volume to $100.7 million, while concentration by large holders stands at 73%. 
Bitget Global, in its latest <a href="https://twitter.com/bitgetglobal/status/1782737175186178107?ref_src=twsrc%5Etfw">X</a> post, highlighted Shiba Inu&#8217;s Q1 performance, with a 416% surge in trading volume in the ecosystem and a 178% increase in the number of traders. The top three gainers in the SHIB Ecosystem sector were Shib, Leash, and Bone, with gains of 190%, 87%, and 25%, respectively.
This strong performance follows <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358696/dogecoin-killer-shiba-inu-up-19-in-2-days-raises-12m-for-new-blockchain">Shiba Inu's announcement of a $12 million capital</a> raise to enhance its Layer 3 network and its collaboration with Fully Homomorphic Encryption technology leader Zama during the quarter.
What's Next: The influence of meme coins and&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;are topics expected to be thoroughly explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38386424/shiba-inu-whale-accumulates-237b-shib-in-one-transaction-much-in-store-for-the-shib-army-v">Shiba Inu Whale Accumulates 237B SHIB In One Transaction: &#8216;Much In Store For The SHIB Army,&#8217; Vows Lead Developer</a>

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B. Riley Securities analyst Zach Cummins maintains AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) with a Buy and raises the price target from $14 to $18.5.

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B. Riley Securities Maintains Buy on AudioEye, Raises Price Target to $18.5

Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are trading lower Wednesday after the company reported worse-than-expected financial results and <a href="https://www.benzinga.com/news/24/04/38398319/enphase-energy-reports-weak-results-joins-lithia-motors-and-other-big-stocks-moving-lower-in-wednesd">issued weak guidance</a>.
What Happened: Enphase reported first-quarter revenue of $263.3 million, which missed the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $281.95 million, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. U.S. revenue was down approximately 34% on a year-over-year basis, while revenues in Europe climbed approximately 70%. 
&#8220;The decline in revenue for the&nbsp;first quarter&nbsp;of 2024 compared to the&nbsp;fourth quarter&nbsp;of 2023 was the result of seasonality and a further softening in U.S. demand, while we continued to reduce shipments to manage channel inventory,&#8221; the company said. 
The company reported adjusted earnings of 35 cents per share, which missed analyst estimates of 40 cents per share.
Gross margin came in at 43.9%. Enphase said it generated $49.2 million in cash flow from operations and $41.8 million in free cash flow during the quarter. The company ended the quarter with $1.63 billion in cash, cash equivalents&nbsp;and marketable securities.
Enphase said it expects second-quarter revenue to be between $290 million and $330 million versus estimates of $350.706 million. The company anticipates second-quarter gross margin of 42% to 45%. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38401219/spotify-analysts-boost-their-forecasts-after-q1-earnings">Spotify Analysts Boost Their Forecasts After Q1 Earnings</a>
Analyst Changes: Following the print, multiple analysts adjusted ratings and price targets.
<ul>
<li>Guggenheim analyst Joseph Osha downgraded Enphase from Neutral to Sell and announced a price target of $92.</li>
</ul>
<ul>
<li>Mizuho analyst Maheep Mandloi maintained Enphase with a Buy and lowered the price target from $148 to $147.</li>
</ul>
<ul>
<li>Oppenheimer analyst Colin Rusch maintained Enphase with an Outperform and raised the price target from $133 to $134.</li>
</ul>
ENPH Price Action: <a href="https://www.benzinga.com/quote/ENPH">Enphase shares</a> were down 8.1% at $104.29 at the time of writing, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: courtesy of Enphase Energy.

Enphase Energy Stock Is Falling Wednesday: What's Going On?

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