Equities

Broad, Low-Volume Rebound In US Stock Indices

Value and small caps overperformed growth and large caps today, with financials and materials the leading sectors in the S&P 500

Published ET

S&P 100 Market Caps | Sources: ϕpost, FactSet data

S&P 100 Market Caps | Sources: ϕpost, FactSet data


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QUICK SUMMARY

  • Daily performance of US indices: S&P 500 up 1.13%; Nasdaq Composite up 0.98%; Wilshire 5000 up 1.27%
  • 91.1% of S&P 500 stocks were up today, with 90.7% of stocks above their 200-day moving average (DMA) and 55.2% above their 50-DMA
  • Top performing sectors: financials up 2.87% and materials up 2.01%
  • Bottom performing sectors: utilities up 0.16% and health care up 0.36%
  • The number of shares in the S&P 500 traded today was 518m for a total turnover of US$ 61 bn
  • The S&P 500 Value Index was up 1.6%, while the S&P 500 Growth Index was up 0.7%; the S&P small caps index was up 2.7% and mid caps were up 2.2%
  • The volume on CME's INX (S&P 500 Index) was 1.8m (3-month z-score: -0.9); the 3-month average volume is 2.1m and the 12-month range is 0.8 - 5.1m
  • Daily performance of international indices: Europe Stoxx 600 up 1.34%; China CSI 300 down -0.37%; Japan down -0.38%; UK FTSE 100 up 1.30%

VOLATILITY

  • 1-month at-the-money implied volatility on the S&P 500 at 11.1%, down from 13.8%
  • 1-month at-the-money implied volatility on the Europe Stoxx 600 at 12.2%, down from 14.3%
S&P 1500 Performance By Sectors Today | Sources: ϕpost, Refinitiv dataS&P 500 Options skewed to the downside this week | Sources: ϕpost, Refinitiv data

TOP WINNERS

  • Stamps.Com Inc (STMP), up 64.0% to $324.23 / YTD price return: +65.3% / 12-Month Price Range: $ 159.22-325.13 / Short interest (% of float): 4.5%; days to cover: 3.6
  • Kanzhun Ltd (BZ), up 15.9% to $36.17 / 12-Month Price Range: $ 29.01-44.96 / Short interest (% of float): 0.0%; days to cover: 0.0
  • Pitney Bowes Inc (PBI), up 14.9% to $9.43 / YTD price return: +53.1% / 12-Month Price Range: $ 2.34-15.50 / Short interest (% of float): 6.9%; days to cover: 6.1
  • Sprinklr Inc (CXM), up 14.2% to $22.37 / 12-Month Price Range: $ 14.60-26.50
  • Quantum-Si Inc (QSI), up 11.8% to $13.56 / 12-Month Price Range: $ 7.85-25.00 / Short interest (% of float): 1.9%; days to cover: 2.6
  • NIU Technologies (NIU), up 11.8% to $33.86 / YTD price return: +20.7% / 12-Month Price Range: $ 17.61-53.38 / Short interest (% of float): 2.9%; days to cover: 3.1
  • AZZ Inc (AZZ), up 11.7% to $57.57 / YTD price return: +21.4% / 12-Month Price Range: $ 28.18-56.74 / Short interest (% of float): 1.2%; days to cover: 2.5
  • Peabody Energy Corp (BTU), up 11.7% to $11.01 / YTD price return: +356.8% / 12-Month Price Range: $ .80-10.54 / Short interest (% of float): 10.5%; days to cover: 1.2 (the stock is currently on the short sale restriction list)
  • Score Media and Gaming Inc (SCR), up 11.6% to $19.28 / YTD price return: +61.4% / 12-Month Price Range: $ 4.03-45.00 / Short interest (% of float): 1.8%; days to cover: 1.2
  • Zhihu Inc (ZH), up 11.3% to $10.52 / 12-Month Price Range: $ 6.81-13.85 / Short interest (% of float): 0.9%; days to cover: 2.5

BIGGEST LOSERS

  • Meta Materials Inc (MMAT), down 17.4% to $4.75 / YTD price return: +239.3% / 12-Month Price Range: $ .42-21.76 / Short interest (% of float): 2.8%; days to cover: 0.7 (the stock is currently on the short sale restriction list)
  • Cassava Sciences Inc (SAVA), down 10.1% to $95.34 / YTD price return: +1,297.9% / 12-Month Price Range: $ 2.78-117.54 / Short interest (% of float): 10.0%; days to cover: 1.9 (the stock is currently on the short sale restriction list)
  • Alussa Energy Acquisition Corp (FREY), down 6.9% to $8.80 / YTD price return: -12.5% / 12-Month Price Range: $ 9.20-15.28
  • Virgin Galactic Holdings Inc (SPCE), down 6.6% to $49.20 / YTD price return: +107.3% / 12-Month Price Range: $ 14.27-62.80 / Short interest (% of float): 20.3%; days to cover: 1.1
  • MediaAlpha Inc (MAX), down 6.6% to $34.86 / YTD price return: -10.8% / 12-Month Price Range: $ 21.62-70.33 / Short interest (% of float): 2.4%; days to cover: 3.7
  • Goosehead Insurance Inc (GSHD), down 6.5% to $111.74 / YTD price return: -10.4% / 12-Month Price Range: $ 76.75-174.80 / Short interest (% of float): 5.0%; days to cover: 3.5
  • Companhia Energetica de Minas Gerais CEMIG (CIGc), down 5.9% to $2.70 / YTD price return: -7.1% / 12-Month Price Range: $ 1.59-3.55 / Short interest (% of float): 0.0%; days to cover: 0.4
  • XL Fleet Corp (XL), down 5.8% to $7.25 / YTD price return: -69.4% / 12-Month Price Range: $ 5.41-35.00 / Short interest (% of float): 20.7%; days to cover: 3.7
  • Seaboard Corp (SEB), down 5.8% to $3,948.85 / YTD price return: +30.3% / 12-Month Price Range: $ 2,624.50-4,199.99 / Short interest (% of float): 0.8%; days to cover: 3.2
  • Alector Inc (ALEC), down 5.7% to $36.91 / YTD price return: +144.0% / 12-Month Price Range: $ 9.12-43.32 / Short interest (% of float): 9.6%; days to cover: 11.5

VALUATION METRICS CHARTS

S&P 500 Forward P/E Multiples By Sector | Sources: ϕpost, FactSet dataS&P 500 Forward EV/EBITDA Multiples By Sector | Sources: ϕpost, FactSet data

NEW IPOs ANNOUNCED OR PRICED

  • Galata Acquisition Corp / United States of America - Financials / Listing Exchange: New York / Ticker: GLTA.U / Gross proceeds (including overallotment): US$ 125.00m (offering in U.S. Dollar) / Bookrunners: B Riley FBR
  • Al Yah Satellite Communications Co PJSC / United Arab Emirates - Media and Entertainment / Listing Exchange: Abu Dhabi / Ticker: N/A / Gross proceeds (including overallotment): US$ 730.71m (offering in Utd. Arab Em. Dirham) / Bookrunners: Abu Dhabi Commercial Bank PJSC, Merrill Lynch International Limited, EFG-Hermes UAE Ltd, HSBC Bank Middle East Ltd, Morgan Stanley & Co International PLC, First Abu Dhabi Bank PJSC

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

  • Ellington Financial Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: EFC / Gross proceeds (including overallotment): US$ 109.32m (offering in U.S. Dollar) / Bookrunners: Keefe Bruyette & Woods Inc, JMP Securities LLC, Morgan Stanley & Co LLC, Bofa Securities Inc, UBS Securities LLC
  • eHi Car Services Ltd / China - Consumer Products and Services / Listing Exchange: Hong Kong / Ticker: - / Gross proceeds (including overallotment): US$ 1,000.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable