Why Are These Five Stocks Rallying on Monday?

It’s opposite day for 3D Systems Corporation (NYSE:DDD) shareholders, as 3D Systems’ shares are 10.8% in the green at a time when the NASDAQ is 2.8% in the red. Perhaps stoking demand for 3D Systems Corporation (NYSE:DDD) is the news that the company recently introduced the ProX DMP 320, a 3D printer designed for high throughput, high precision direct metal printing. Given that 3D Systems Corporation’s shares fell by 73% in 2015 and that almost a third of the company’s float is short, short covering could also have something to do with today’s rally. A total of 12 funds from our database owned $93.25 million worth of 3D Systems Corporation’s stock at the end of September.

Ascena Retail Group Inc (NASDAQ:ASNA)’s stock has surged by 5% today as investors become more optimistic on the stock’s future. Although the company’s shares lost 21% in 2015, the specialty retailer trades at a reasonable forward P/E of 10.01. The analysts at FBR also recently reiterated their ‘Buy’ rating on the stock. The hedge fund sentiment around Ascena Retail Group Inc (NASDAQ:ASNA) has been stable, with the number of elite funds owning shares of the retailer falling by just two quarter-over-quarter to 23 as of September 30.

There is a short squeeze around Unilife Corp (NASDAQ:UNIS), as shares of the company have rallied over 50% on the news that it has started negotiations with Amgen over a potential licensing deal for Unilife’s wearable injector devices. Under terms of the deal, Amgen will pay Unilife Corp (NASDAQ:UNIS) a non-refundable deposit of $15 million. Four funds among those we track amassed 2.4% of Unilife Corp as of the end of the third quarter.

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