Deere & Company (DE), Gas Natural Inc. (EGAS) & More: Why These Stocks are Trending Today

The US stock market is trading higher today, despite some weakness across global indexes.

Among individual stocks that are showing more volatility today, are Deere & Company (NYSE:DE), Gas Natural Inc. (NYSEMKT:EGAS), Exelixis Inc. (NASDAQ:EXEL), Calpine Corporation (NYSE:CPN), and Panera Bread Co (NASDAQ:PNRA). Let’s take a look at the latest news surrounding these stocks and assess the smart money sentiment towards them.

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Deere & Company (NYSE:DE) stock is trading higher today, after a Wells Fargo & Company upgraded the stock to ‘Outperform’ from ‘Market Perform’. Wells Fargo also raised the price target to $100-$103 per share from $85-$88. Analyst Andrew Casey mentioned in his note that Deere & Company (NYSE:DE)’s improving its sales in Brazil, Ukraine, Russia, and other regions and the farm equipment market may be set for a rebound after several years of declines. Among the funds we track, 33 funds held $3.53 billion worth of Deere’s stock in aggregate at the end of June, having amassed 13.90% of its outstanding stock, compared to 30 investors that held $3.46 billion worth of stock a quarter earlier.

Gas Natural Inc. (NYSEMKT:EGAS) stock has jumped by 64% on the news of a $196 million buyout deal. The company has agreed to be acquired by an investment fund sponsored by First Reserve, a private equity firm. The deal has priced the stock at $13.10 apiece, giving a premium of 71% on the stock’s closing price on Friday. The transaction is likely to be closed in the second half of 2017. The number of funds from our database long Gas Natural Inc. (NYSEMKT:EGAS) remained unchanged at two during the second quarter.

Exelixis Inc. (NASDAQ:EXEL) is around 3% in the green after the company announced positive results from the Phase 2 trial of Cabosun in patients with previously untreated advanced renal cell carcinoma. According to the company, the trial showed a statistically significant and clinically meaningful 31% reduction in the rate of disease progression or death of patient under study. A total of 21 funds from our database have positions in Exelixis Inc. (NASDAQ:EXEL) worth around $225 million in aggregate as of the end of June, which is higher compared to $60.9 million held by 17 hedge funds at the end of June.

Calpine Corporation (NYSE:CPN) stock has gained some 3% so far today amid news that the company is buying North America energy distribution unit from Noble Group. The deal, expected be closed in December, is priced at $800 million plus the repayment of working capital of Noble Americas Energy Solutions to Noble Group. Among the funds we track, 32 funds hold about $988 million worth of Calpine Corporation (NYSE:CPN) stock as of the end of June, versus 36 funds holding stock worth $865 million at the end of March.

Panera Bread Co (NASDAQ:PNRA) stock has inched up by more than 2% after analysts at Longbow Research upgraded the stock to ‘Buy’ from ‘Neutral’. The analysts also set a price target of $239, showing upside potential of more than 25%.  A total of 23 funds from our database reported stakes in Panera Bread Co (NASDAQ:PNRA) worth about $442 million in aggregate as of the end of June, compared to 26 funds and $451 million, respectively, a quarter earlier.

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