It’s a green day on Wall Street as all three major indexes are higher. Among the gainers leading the way are Pyxis Tankers Inc. (NASDAQ:PXS), Globus Maritime Limited (NASDAQ:GLBS), Stratasys Ltd. (NASDAQ:SSYS), Floor & Decor Holdings Inc. (NYSE:FND), and 1-800 FLOWERS.COM Inc. (NASDAQ:FLWS). Let’s find out why each stock is surging.
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Nano-caps Pyxis Tankers Inc. (NASDAQ:PXS) and Globus Maritime Limited (NASDAQ:GLBS) are each up over 15% today due to momentum buying. Seeing as how both stocks are relatively low float and have rallied sharply in the past, some traders are buying to chase the previous upward movement. Shares of GLBS may have rallied in the past due to Globus Maritime Limited (NASDAQ:GLBS) regaining listing compliance with the NASDAQ exchange earlier in the week by maintaining the $1 minimum share closing bid price for a minimum of 10 consecutive business days. Similarly, Pyxis Tankers Inc. (NASDAQ:PXS) also achieved the NASDAQ minimum closing bid price rule as of November 1. Although achieving NASDAQ compliance doesn’t really affect the fundamentals of both companies, they ensure that both stocks are relatively more liquid than if they weren’t listed on a meaningful exchange.
Shares of 3D maker Stratasys Ltd. (NASDAQ:SSYS) are up 16% after the company turned in better than expected third quarter results. Earnings for the period came in at $0.11 per share while revenue was $162 million, both numbers ahead of the Street’s estimate of $0.05 per share and $161.61 million. Profits were better than expected in part due to operating margin for the period of 5.1% versus the consensus of $3.3%. Guidance is also better than expected, with management increasing FY 18 adjusted EPS outlook to $0.50-$0.55 from the previous $0.30-$0.50. Revenue for FY18 is seen coming in at $670-$680 million. 12 elite funds were long Stratasys Ltd. (NASDAQ:SSYS) at the end of Q2. Those numbers are out of around 645 fund we track in total. In terms of more recent data, Ken Fisher‘s Fisher Asset Management owned around 2.9 million shares at the end of September.