In this article, we take a look at five stocks that are soaring today. If you want to take a look at some more stocks that are gaining and the latest market situation, go to These 10 Stocks Are Soaring Today.
5. Tesla, Inc. (NASDAQ:TSLA) has increased 3.17% as of 12:10 PM ET after the Austin, Texas-based manufacturer and seller of electric vehicles is staging a recovery following yesterday’s decline due to negative developments from India. Analysts think that the completion of the Twitter acquisition will help Elon Musk to focus on addressing the factors that are pressuring the stock of Tesla, Inc. (NASDAQ:TSLA). Musk is expected to take over a more passive role after the acquisition and opt for a less demanding role like the Chairman of the Board. The primary concern being faced by Tesla, Inc. (NASDAQ:TSLA) currently is the production slowdown in Shanghai.
As of Q4 2021, Tesla, Inc. (NASDAQ:TSLA) stock was held by 91 hedge funds.
4. Enphase Energy, Inc. (NASDAQ:ENPH) has rocketed 7.26% as of 12:09 PM ET after the manufacturer of microinverters and backup energy storage for solar systems reported strong Q1 2022 results. Enphase Energy, Inc. (NASDAQ:ENPH) reported revenue of $441 million, increasing by 46.2% YoY and beating consensus estimates of $432 million. The adjusted EPS was posted at 79 cents as opposed to the forecast of 67 cents. For Q2 2022, Enphase Energy, Inc. (NASDAQ:ENPH) sees revenue to be in the range of $490 million to $520 million. This is significantly higher than the analysts’ estimate of $475 million.
Of the 924 hedge funds in Insider Monkey’s database, 50 funds held a stake in Enphase Energy, Inc. (NASDAQ:ENPH) as of Q4 2021.
3. Schlumberger Limited (NYSE:SLB) has elevated 1.62% as of 12:10 PM ET after the Houston, Texas-based oilfield equipment and services company was upgraded from a Hold to a Buy rating by Abhishek Kumar at HSBC. The analyst also increased the target price from $40.60 to $44.20. The target price reflects a potential upside of 11.78% from the previous closing price. Kumar thinks that Schlumberger Limited (NYSE:SLB) is in a strong position to improve its margins through price increases. Furthermore, the analyst thinks that Schlumberger Limited (NYSE:SLB) would see its earnings improve, which would result in a higher generation of free cash flows and enhance shareholder return in the form of dividends and share buyback.
As of Q4 2021, Schlumberger Limited (NYSE:SLB) was held by 47 hedge funds.
2. Microsoft Corporation (NASDAQ:MSFT) is up 5.90% as of 12:07 PM ET after the Redmond, Washington-based tech giant reported better-than-expected results for Q3 2022 and provided strong guidance for the rest of the year. The software maker reported revenue and adjusted EPS of $49.36 billion and $2.22, respectively, and outperformed the consensus estimate of $49.05 billion and $2.19. Microsoft Corporation’s (NASDAQ:MSFT) top line increased by 18% YoY and 20% on a sequential basis. Microsoft Corporation (NASDAQ:MSFT) anticipates Q4 2022 revenue to be in the range of $52.4 billion to $53.2 billion. The midpoint of $52.8 billion is $150 million lower than the analysts’ expectations of $52.95 billion.
According to Insider Monkey’s proprietary data, Microsoft Corporation (NASDAQ:MSFT) was held by 262 hedge funds as of Q4 2021.
1. General Dynamics Corporation (NYSE:GD) has gained 3.41% as of 12:10 PM ET after Reston, Virginia-based aerospace and defense corporation reported a 3.1% increase in profit during Q1 2022. The Gulfstream jet maker saw the demand for private air travel rise during the COVID-19 pandemic. Companies like General Dynamics Corporation (NYSE:GD) have increased their production to capitalize on the strong demand for private jets. General Dynamics Corporation (NYSE:GD) delivered 25 Gulfstream business jets during the quarter. Revenue was posted at $9.4 billion and outperformed analysts’ estimates of $9 billion. Meanwhile, EPS was reported at $2.61 and was 10 cents higher than the analysts’ forecast.
Overall, 48 hedge funds held General Dynamics Corporation (NYSE:GD) as of Q4 2021.
You can also take a peek at the 10 Biotech Penny Stocks with Growth Catalysts and 10 Stocks to Buy According to Canyon Capital Advisors.
