Why These Five Stocks Are Trading Higher Today

Matador Resources Inches On Upgrade

Matador Resources Co (NYSE:MTDR) is up by 5.33%, not only on the back of a rebound in energy prices, but also following an analyst upgrade. Earlier today, analysts at Stifel boosted their rating on the stock from Hold to Buy, setting a $25 price target, to account for the company’s high quality assets and industry-leading returns. Matador Resources Co (NYSE:MTDR) witnessed a 44.4% increase in hedge fund support over the first quarter of 2016 and 13 funds tracked by us held 4.7% of the company’s float at the end of March. Among the newcomers was Steve Cohen’s Point72 Asset Management, with 1.91 million shares, worth more than $36 million.

Shopify Spikes On Analyst Bullishness

Also on the rise on Wednesday is Shopify Inc (NYSE:SHOP), which has advanced by over 5%. The surge was driven by at least two bullish analyst notes: on the one hand, KeyBanc reiterated a Buy rating and $37 price target on the stock; on the other hand, Monness Crespi Hardt initiated coverage with a Buy rating and $35 price target. Shares trade around $30 at the time of the writing of this article. A total of 14 funds among those we track were long Shopify Inc (NYSE:SHOP) at the end of March.

CryoPort Continues Its Rally

Finally, there’s CryoPort Inc (NASDAQ:CYRX), which has gained more than 19% on Wednesday trading, on almost 7.0 times its average volume, continuing with a rally that started on Monday, after the company reported its fourth quarter and full fiscal 2016 financial results, which included 50% revenue growth for the year. The stock’s return this week has surpassed 53%. Having said this, it should be noted that CryoPort Inc (NASDAQ:CYRX) is a nano-cap, and, as such, does not count on much hedge fund support. In fact, none of the funds in our database were long the stock at the end of the first quarter.

 Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.