Why Investors Are Piling Into Etsy, Juniper, Huntsman & 2 Other Stocks Today

Etsy Inc (NASDAQ:ETSY) is up by 10% today after Monness Crespi upgraded the stock to ‘Buy’ from ‘Neutral’ and set a $17 price target on it. The firm thinks Etsy’s solid organic growth isn’t fully priced into the stock. The analysts also estimate that Etsy will achieve sales of $364 million and $455 million for 2016 and 2017, respectively, versus the consensus estimates of $340 million and $442 million for the same years. Jim Simons‘ Renaissance Technologies upped its stake in Etsy Inc (NASDAQ:ETSY) by 127% in the second quarter to over 2.22 million shares on June 30.

Huntsman Corporation (NYSE:HUN) has soared by almost 5% today on the back of more optimistic investor sentiment. Due to the stock’s forward P/E ratio of 7.5 and current annual dividend yield of around 3.4%, some value investors are likely buying for the long run. In addition, due to the stock’s 31% year-to-date rally, some technical traders could be buying in hopes of catching the stock’s upward momentum, for however long it might last. Some news traders could be buying on reports of an explosion in a chemical plant in China that might temporarily raise the price of some chemicals. Hedge funds were more bullish on Huntsman in the second quarter. According to our records, the number of funds that we track with holdings in Huntsman Corporation (NYSE:HUN) rose by 12 quarter-over-quarter to 38 as of the end of June.

Last but not least, Juniper Networks, Inc. (NYSE:JNPR) is 5% in the green, largely on improved sentiment. Some investors might also be buying due to a regulatory filing that Juniper issued yesterday, which detailed an updated form of change in control agreement, which will replace the existing change in control agreements for officers and members of senior management. 27 funds in our database owned $374.06 million in Juniper Networks, Inc. (NYSE:JNPR) positions at the end of June, which accounted for 4.30% of the float. Those ownership figures were down from 29 funds with $515.89 million in holdings on March 31.

Disclosure: None