La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Universal Stainless a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Universal Stainless..

Universal Stainless (NASDAQ:USAP) Azioni, Catena delle Opzioni

Universal Stainless

Universal Stainless & Alloy Products Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel, and certain other alloyed steels. The company along with its subsidiaries involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels. Its products are sold to service centers, forgers, rerollers, and original equipment manufacturers.

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USAP

Due titoli del settore materiali mostrano segnali di eccessivo ipercomprato e potrebbero affrontare un crollo imminente nel terzo trimestre.

Le 2 azioni a rischio di crollo nel terzo trimestre 2024

Universal Stainless & Alloy Products, Inc. - Common Stock

Universal Stainless & Alloy Products Inc

DENNIS OATES, Director at Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>), reported a large exercise of company stock options on November 20, according to a new SEC filing.
What Happened: OATES, Director at Universal Stainless, made a strategic move by exercising stock options for 14,500 shares of USAP as detailed in a Form 4 filing on Wednesday with the <a href="https://www.sec.gov/Archives/edgar/data/0000931584/000180968924000022//Archives/edgar/data/931584/000180968924000022/0001809689-24-000022-index.htm">U.S. Securities and Exchange Commission</a>. The transaction value amounted to $251,720.
Universal Stainless shares are trading down 1.25% at $43.5 at the time of this writing on Thursday morning. Since the current price is $43.5, this makes OATES's 14,500 shares worth $251,720.
<h3>Delving into Universal Stainless's Background</h3>
Universal Stainless &amp; Alloy Products Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel, and certain other alloyed steels. The company along with its subsidiaries involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels. Its products are sold to service centers, forgers, rerollers, and original equipment manufacturers.
<h3>Financial Milestones: Universal Stainless's Journey</h3>
Positive Revenue Trend: Examining Universal Stainless's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 22.4% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Materials sector.
Analyzing Profitability Metrics:
<ul>
<li>
Gross Margin: The company sets a benchmark with a high gross margin of 25.21%, reflecting superior cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Universal Stainless's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 1.19.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 0.27, Universal Stainless adopts a prudent financial strategy, indicating a balanced approach to debt management.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 16.14, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 1.3 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 7.9, Universal Stainless demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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<h3>Why Insider Activity Matters in Finance</h3>
Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>Transaction Codes To Focus On</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000931584">Check Out The Full List Of Universal Stainless's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Witnessing An Insider Decision, DENNIS OATES Exercises Options Valued At $251K At Universal Stainless

<a href="https://x.com/hntrbrkmedia/status/1849079003312775222" title="https://x.com/hntrbrkmedia/status/1849079003312775222">https://x.com/hntrbrkmedia/status/1849079003312775222</a>

Hunterbrook Posted on X ".. Hunterbrook Media uncovers a decades-long history of product defects, financial red flags, and toxic workplace culture at $USAP, a key supplier for Boeing and the U.S. military…."

<h2 class="wp-block-heading">New On The Block</h2>
Altus Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPS#NYSE">AMPS</a>) tapped investment bank Moelis &amp; Company LLC to explore strategies to boost shareholder value. According to the clean electricity provider, the process should wrap up by 2025. Altus retained law firm Latham &amp; Watkins to <a href="https://www.benzinga.com/topic/clean-energy">advise on legal matters</a>. 
Motorsport Games Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSGM#NASDAQ">MSGM</a>) is also looking to increase shareholder value via a potential sale or merger. The goal is to generate enough funds to bring Le Mans Ultimate to Sony PlayStation and Microsoft Xbox gaming consoles. Le Mans Ultimate is the official game of the FIA World Endurance Championship.
<h2 class="wp-block-heading">Off The Block</h2>
Denmark-based H. Lundbeck A/S agreed to acquire Longboard Pharmaceuticals, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBPH#NASDAQ">LBPH</a>) for $60 per share in cash. The transaction is valued at approximately $2.6 billion in equity value and $2.5 billion (approximately 17 billion Danish krone). The deal is expected to close in the <a href="https://www.benzinga.com/general/biotech/24/10/41313129/why-is-epilepsy-focused-longboard-pharmaceuticals-stock-trading-higher-on-monday">fourth quarter of 2024</a>.
Universal Stainless &amp; Alloy Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) agreed to an all-cash offer by Luxembourg-based Aperam for $45 per share. The acquisition will give Aperam its first manufacturing facility in the U.S., expanding its geographic reach and product portfolio, particularly in high-growth sectors such as <a href="https://www.benzinga.com/markets/equities/24/10/41385280/universal-stainless-finds-new-home-as-luxembourg-based-aperam-makes-big-us-move-details">aerospace and industrial applications</a>.
Bit Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) purchased HPC data center company Enovum Data Centers&nbsp;for about CAD$62.8 million ($46 million). The acquisition <a href="https://www.benzinga.com/m-a/24/10/41336358/bit-digital-stock-is-rising-tuesday-whats-driving-the-action">closed on Oct. 11</a>.
<h2 class="wp-block-heading">Updates From The Block</h2>
Private equity firms TPG and Blackstone placed a joint bid to acquire eye care company Bausch + Lomb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), per the Financial Times. Last month, Bausch + Lomb said it was considering a sale to address concerns from creditors, including&nbsp;Apollo Global Management Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>),&nbsp; over the separation from parent company,&nbsp;Bausch Health&nbsp;Companies&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>). The Bausch + Lomb spin-off was part of Bausch Health&#8217;s plan to <a href="https://www.benzinga.com/news/large-cap/24/10/41313679/bausch-lomb-sale-process-gains-momentum-as-tpg-and-blackstone-join-forces">alleviate its $21 billion debt</a>.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
True Value declared bankruptcy. It plans to sell assets to rival Do it Best. The Chicago-based hardware store chain said an agreement was reached after a &#8220;robust marketing process&#8221; from which the company emerged as the top bidder. See our coverage below. 
<figure class="wp-block-embed is-type-video is-provider-dailymotion wp-block-embed-dailymotion wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="True Value Files for Chapter 11. Aims For Sale By Rival Do It Best By Year&#039;s End." frameborder="0" width="500" height="281" src="https://geo.dailymotion.com/player.html?video=x97f6ta&#038;" allowfullscreen allow="autoplay; fullscreen; picture-in-picture; web-share"></iframe>
</div>
</figure>
<h2 class="wp-block-heading">Notes From The Block</h2>
According to <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/m-a-activity-in-the-us-and-canada-falls-in-q3-as-deal-value-rises-85741632">S&amp;P Global</a>, M&amp;A activity in the U.S. and Canada lagged compared to 2023.
<ul>
<li>The deal tally for the U.S. and Canada announced in the third quarter was 4,153 — down 4.3% from the preceding quarter, but up 2% from the third quarter of 2023.</li>
<li>Aggregate value amounted to $365.99 billion; up from $301.62 billion in the second quarter and $282.77 billion in the year-ago period.</li>
<li>The first nine months of 2024 saw 12,680 M&amp;A deals in the U.S. and Canada. That&#8217;s less than the 13,203 deals for the same time frame in 2023.</li>
<li>M&amp;A value for the first three quarters of 2024 hovered at around $1.052 trillion — up from $838.32 billion during the three months in 2023.</li>
</ul>
Joe Mantone, who authors the quarterly M&amp;A reports at S&amp;P Global Market Intelligence, had this to say: 
BZ: Was there anything that surprised you from the latest deal data?
Mantone: The quarter-over-quarter drop in the number of deals is not that surprising given seasonal trends. Dealmaking tends to slow during the third quarter&#8217;s summer months. The year-over-year increase in deals provides a bit of evidence that M&amp;A is recovering. But activity levels are still below historical norms, and the number of transactions announced in the US and Canada haven't fluctuated much over the last six quarters.
BZ: Will Q4 finish strong with the change in benchmark <a href="https://www.benzinga.com/topic/interest-rates">interest rates</a>?
Lower rates can create a more conducive backdrop for M&amp;A, and help the number of deals announced move beyond current levels. While it&#8217;s hard to predict activity in any one given quarter, I do think lower rates will serve as a catalyst for M&amp;A as we move into 2025, especially for deals involving private equity. Private equity firms have plenty of dry powder, and the lower interest rates will decrease the cost of acquisition financing, which is beneficial for those using leverage on the buyside. Buyers having access to less expensive debt tends to increase valuations, which can lead to more private equity firms selling portfolio companies.
BZ: How do you expect dealmakers to react post-Election Day?
On the total deal value side, the fourth quarter presents a difficult year-over-year comparison because there were some extremely large deals in the fourth quarter of 2023. It wouldn&#8217;t surprise if there was some pause around the election for bigger transactions, but I doubt that dealmakers will completely change their strategic plans based on the outcome, one way or another.&nbsp;
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41402089/goldman-sachs-highlights-20-top-short-squeeze-opportunities-for-q3-earnings-season">Goldman Sachs Highlights 20 Top Short-Squeeze Opportunities, A Pet Retailer Tops The Chart</a></li>
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Deal Dispatch: Altus Power, Motorsport Games Explore Options, True Value Goes Bankrupt, M&A Activity Lags

U.S. stocks settled higher on Friday, with the Dow Jones index and S&amp;P 500 jumping to fresh record highs during the session. All three major indices recorded gains for the sixth straight week, with the Dow and S&amp;P 500 gaining 0.96% and 0.85%, respectively. The Nasdaq, meanwhile, added 0.80% last week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Leo Mariani
<ul>
<li>Analyst Firm: Roth MKM</li>
<li>Ratings Accuracy: 88%</li>
<li>Latest Rating: Maintained a Buy rating on Viper Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNOM#NASDAQ">VNOM</a>) and raised the price target from $46 to $53 on Oct. 16. This analyst sees around 4% upside in the stock.</li>
<li>Recent News: On Sept. 12, Viper Energy priced an upsized public offering of 10 million Class A common shares at $42.50 per share.</li>
</ul>
Analyst: Philip Gibbs
<ul>
<li>Analyst Firm: Keybanc</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Downgraded rating on Universal Stainless &amp; Alloy Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) from Overweight to Sector Weight with a price target of $46 on Oct. 18. This analyst sees around 6% upside in the stock.</li>
<li>Recent News: On Oct. 17, Universal Stainless &amp; Alloy Products disclosed that it has entered into a definitive agreement for an all-cash acquisition by Luxembourg-based Aperam.</li>
</ul>
Analyst: Lloyd Walmsley
<ul>
<li>Analyst Firm: UBS</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Buy rating on Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and raised the price target from $102 to $114 on Oct. 18. This analyst sees around 44% upside in the stock.</li>
<li>Recent News: Uber Technologies is working towards its goal of transforming into a zero-emission platform with measures including the introduction of an AI assistant on the driver app to help with EV-related queries, company CEO Dara Khosrowshahi recently said.</li>
</ul>
Analyst: Chris Kotowski
<ul>
<li>Analyst Firm: Oppenheimer</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Maintained an Outperform rating on Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and cut the price target from $92 to $91 on Oct. 16. This analyst sees around 45% surge in the stock.</li>
<li>Recent News: On Oct. 15, Citigroup reported better-than-expected third-quarter EPS and sales results.</li>
</ul>
Analyst: Doug Anmuth
<ul>
<li>Analyst Firm: JP Morgan</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Maintained an Overweight rating on Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and boosted the price target from $750 to $850 on Oct. 18. This analyst sees around 11% upside in the stock.</li>
<li>Recent News: On Oct. 17, Netflix reported better-than-expected third-quarter financial results and 14.4% growth in global streaming paid memberships.</li>
</ul>
Read More: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41402086/wall-streets-most-accurate-analysts-give-their-take-on-3-financials-stocks-delivering-hi">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Financials Stocks Delivering High-Dividend Yields</a></li>
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Analyst Ratings

NFLX

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This Analyst With 85% Accuracy Rate Sees Around 11% Upside In Netflix - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Keybanc analyst Philip Gibbs downgrades Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) from Overweight to Sector Weight and maintains the price target from $46 to $46.

Downgrades

Keybanc Downgrades Universal Stainless to Sector Weight, Maintains Price Target to $46

Universal Stainless &amp; Alloy Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) shares are trading higher on Thursday. The company disclosed that it has entered into a definitive agreement for an all-cash acquisition by Luxembourg-based Aperam.
According to the terms of the agreement, Aperam will purchase all outstanding shares of Universal Stainless for $45.00 per share, reflecting a premium of approximately 19% over Universal Stainless&#8217; three-month volume-weighted average stock price as of October 16, 2024, and a valuation of 10.6 times trailing 12-month Adjusted EBITDA as of June 30, 2024.
The acquisition will give Aperam its first manufacturing facility in the U.S., expanding its geographic reach and product portfolio, particularly in high-growth sectors such as aerospace and industrial applications.
Also Read: <a href="https://www.benzinga.com//node/41045029">Amid Nippon-US Steel Debacle, Kamala Harris Stresses Importance Of US Steel Production, Even If It Means Job Losses: &#8216;Critically Important, Not Only In Terms Of Our Economy, But Also In The Context Of National Security&#8217;</a>
Universal Stainless and Aperam&#8217;s boards have unanimously approved the transaction, which is expected to close in the first quarter of 2025, pending customary closing conditions.
Upon completion, Universal Stainless will become a wholly owned subsidiary of Aperam, and its shares will cease trading on NASDAQ.
Universal Stainless will continue to operate under its name and maintain its headquarters in Bridgeville, Pennsylvania.
Christopher M. Zimmer, President and CEO of Universal Stainless, said, &#8220;Becoming part of Aperam is also expected to benefit our customers because Aperam plans to invest in and support our manufacturing capabilities and technologies, enabling us to be more efficient and expand our product and services portfolio.&#8221;
&#8221;This combination also gives us access to world-class research centers and innovations to further enhance our product quality and offerings.&#8221;
Price Action: USAP shares are up 2.12% at $44.35 at the last check Thursday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com//node/41383055" target="_blank" rel="noreferrer noopener">China Launches Probe Into Intel, Cites National Security Risks Amid Trade Tensions With US</a></li>
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Small Cap

Movers

Universal Stainless Finds New Home As Luxembourg-Based Aperam Makes Big US Move: Details

<ul>
<li>Universal stockholders to receive&nbsp;$45.00&nbsp;per share in cash, a&nbsp;19%&nbsp;premium to three-month volume-weighted average stock price; 10.6x trailing 12-month Adjusted EBITDA</li>
<li>Universal to become part of leader in stainless, specialty steel solutions and recycling, with complementary capabilities and strong financial resources</li>
<li>Universal to maintain distinct U.S. identity; team and operations to remain intact</li>
</ul>

Universal Stainless To Be Acquired by Aperam In $45/Share All-Cash Deal

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Tuesday.
Shares of Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) fell in today's pre-market trading after the company announced a <a href="https://www.benzinga.com/news/24/09/40991747/snowflake-stock-dips-on-offering-after-hours-what-to-know">$2 billion private placement of senior convertible notes.</a>
Snowflake announced it intends to offer $1 billion aggregate principal amount of its convertible senior notes due 2027 and a $1 billion aggregate principal amount of its convertible senior notes due 2029.
Snowflake shares fell 3.3% to $109.56 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Light &amp; Wonder, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNW#NASDAQ">LNW</a>) shares tumbled 17.1% to $93.43 in pre-market trading after the company received an order from the U.S. District Court for the District of Nevada granting Aristocrat a preliminary injunction relating to L&amp;W&#8217;s Dragon Train game..</li>
<li>Hawaiian Electric Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HE#NASDAQ">HE</a>) shares fell 10.5% to $9.75 in pre-market trading. Hawaiian Electric Industries raised $500 million via secondary stock offering of 54 million shares at $9.25 per share.</li>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) fell 5.8% to $2.34 in pre-market trading. Uxin shares jumped 54% on Monday after the company reported a year-over-year increase in first-quarter sales results.</li>
<li>argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) shares declined 3.3% to $511.19 in pre-market trading.</li>
<li>Universal Stainless &amp; Alloy Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) fell 2.4% to $39.10 in pre-market trading.</li>
<li>Grifols, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) shares fell 2.4% to $8.59 in pre-market trading.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/markets/24/09/40991631/jim-cramer-says-this-utilities-stock-is-a-buy-we-need-cheap-power"> </a>
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Snowflake, Hawaiian Electric Industries And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

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Shares of companies within the broader metals and mining sector are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

U.S. stocks settled lower on Friday, with the Dow Jones index tumbling over 600 points during the session following weak jobs data. Nonfarm payrolls came in at 114,000 last month, a slowdown of 65,000 from June, and well below the economist consensus estimate of 175,000 according to TradingEconomics.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Philip Gibbs
<ul>
<li>Analyst Firm: Keybanc</li>
<li>Ratings Accuracy: 88%</li>
<li>Latest Rating: Maintained an Overweight rating on Universal Stainless &amp; Alloy Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) and raised the price target from $36 to $46 on Aug. 1. This analyst sees around 20% increase in the stock.</li>
<li>Recent News: On July 31, Universal Stainless &amp; Alloy Products reported better-than-expected second-quarter financial results.</li>
</ul>
Analyst: William Stein
<ul>
<li>Analyst Firm: Truist Securities</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained a Hold rating on Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and cut the price target from $33 to $25 on Aug. 2. This analyst sees around 22% upside in the stock.</li>
<li>Recent News: On Aug. 1, the tech giant reported earnings of just 2 cents per share, falling dramatically short of the analyst consensus estimate of 10 cents.</li>
</ul>
Analyst: Mark Kelley
<ul>
<li>Analyst Firm: Stifel</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained a Buy rating on Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and cut the price target from $228 to $224 on Aug. 2. This analyst sees around 41% upside in the stock.</li>
<li>Recent News: The company posted mixed second-quarter financial results after Thursday's closing bell.</li>
</ul>
Analyst: Trey Grooms
<ul>
<li>Analyst Firm: Stephens &amp; Co.</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Maintained an Overweight rating on Eagle Materials Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) and boosted the price target from $280 to $315 on Aug. 1. This analyst sees around 24% surge in the stock.</li>
<li>Recent News: On July 30, Eagle Materials reported better-than-expected first-quarter EPS results.</li>
</ul>
Analyst: Alexander Paris
<ul>
<li>Analyst Firm: Barrington Research</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained an Outperform rating on Perdoceo Education Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRDO#NASDAQ">PRDO</a>) and raised the price target from $27 to $30 on Aug. 1. This analyst sees more than 25% upside in the stock.</li>
<li>Recent News: On July 31, Perdoceo Education posted better-than-expected quarterly earnings.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40142776/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a></li>
</ul>

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This Analyst With 87% Accuracy Rate Sees Around 41% Upside In Amazon.com - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

As of Aug 2, 2024, two stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</h3>
<ul>
<li>On July 24, Newmont posted better-than-expected quarterly results. &#8220;Newmont delivered a solid second quarter, producing 2.1 million gold equivalent ounces and generating $594 million in free cash flow,&#8221; said Tom Palmer, Newmont&#8217;s President and Chief Executive Officer. The company's stock gained around 19% over the past month and has a <a href="https://www.benzinga.com/quote/NEM">52-week high of $50.14</a>.</li>
<li>RSI Value: 70.76&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NEM Price Action: Shares of Newmont gained 1% to close at $49.55 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Universal Stainless &amp; Alloy Products Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>)</h3>
<ul>
<li>On July 31, Universal Stainless &amp; Alloy Products reported better-than-expected second-quarter financial results. Christopher M. Zimmer, President and CEO, commented, &#8220;Our record sales were driven by the continued robust commercial aerospace and defense markets, with our record aerospace sales representing 82.9% of sales in the quarter. Aerospace demand also drives our premium alloy sales, which now represent one-quarter of our total sales.&#8221; The company's stock gained around 43% over the past month and <a href="https://www.benzinga.com/quote/USAP">has a 52-week high </a>of $40.92.</li>
<li>RSI Value: 79.93</li>
<li>USAP Price Action: Shares of Universal Stainless gained 7.8% to close at $40.44 on Thursday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40102555/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a></li>
</ul>

Top 2 Materials Stocks That May Crash In Q3

Keybanc analyst Philip Gibbs maintains Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) with a Overweight and raises the price target from $36 to $46.

Keybanc Maintains Overweight on Universal Stainless, Raises Price Target to $46

Universal Stainless & Alloy Products shares are trading higher after the company reported better-than-expected Q2 financial results.

Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) reported quarterly earnings of $0.90 per share which beat the analyst consensus estimate of $0.42 by 114.29 percent. The company reported quarterly sales of $82.759 million which beat the analyst consensus estimate of $80.375 million by 2.97 percent. This is a 19.91 percent increase over sales of $69.015 million the same period last year.

Earnings

Earnings Beats

Universal Stainless Q2 2024 GAAP EPS $0.90 Beats $0.42 Estimate, Sales $82.759M Beat $80.375M Estimate

Universal Stainless & Alloy Products Reaches New Five-year Collective Bargaining Agreement At North Jackson Facility

Keybanc analyst Philip Gibbs maintains Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) with a Overweight and raises the price target from $30 to $36.

Keybanc Maintains Overweight on Universal Stainless, Raises Price Target to $36

As of May 14, 2024, three stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.  
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Universal Stainless &amp; Alloy Products, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>)</h3>
<ul>
<li>On May 1, Universal Stainless &amp; Alloy Products reported better-than-expected first-quarter GAAP EPS results. Christopher M. Zimmer, President and CEO, said, &#8220;We achieved the highest profitability in 12 years in the first quarter, including a gross margin of 18.9%, on near-record sales. Our performance was driven by robust aerospace demand and the continued realization of base price increases implemented over the past three years.&#8221; The company's stock gained around 29% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/USAP">high of $33.79</a>.</li>
<li>RSI Value: 72.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>USAP Price Action: Shares of Universal Stainless &amp; Alloy Products fell 0.6% to close at $32.26 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Intrepid Potash, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPI#NYSE">IPI</a>)</h3>
<ul>
<li>On May 8, Interpid Potash reported better-than-expected first-quarter sales results. Matt Preston, Intrepid&#8217;s Chief Financial Officer and acting principal executive officer said, &#8220;Intrepid started the year with a solid first quarter that was highlighted by robust demand and stable pricing in the potash market. Our quarterly Trio&#xAE; sales volumes of 91 thousand tons exceeded expectations as consistent potash pricing and improving sulfate values drove strong in-season demand.&#8221; The company's stock gained around 20% over the past five days and <a href="https://www.benzinga.com/quote/IPI">has a 52-week high</a> of $28.30.</li>
<li>RSI Value: 76.02</li>
<li>IPI Price Action: Shares of Intrepid Potash rose 3.4% to close at $25.53 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>)</h3>
<ul>
<li>On May 1, Aspen Aerogels reported better-than-expected first-quarter financial results. &#8220;We continue to execute the transition of our Energy Industrial products to our external manufacturing facility and dedicate our manufacturing plant in East Providence to the production of aerogel for EV thermal barriers. We believe the Q1 results further demonstrate that we have the capability with existing assets and supply arrangements to deliver $650 million of annual revenue with at least 35% gross margins and 25% Adjusted EBITDA margins,&#8221; commented Don Young, Aspen&#8217;s President and CEO. The company's stock gained around 79% over the past month and has a <a href="https://www.benzinga.com/quote/ASPN">52-week high</a> of $27.46.</li>
<li>RSI Value: 82.20</li>
<li>ASPN Price Action: Shares of Aspen Aerogels rose 1.2% to close at $27.33 on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38807221/home-depot-paysafe-and-3-stocks-to-watch-heading-into-tuesday">Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday</a>

ASPN

Top 3 Materials Stocks You May Want To Dump In May

Top Stories for May 1, 2024:
1. IperionX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPX#NASDAQ">IPX</a>) and Vegas Fastener Manufacturing have partnered to develop and manufacture <a href="https://www.benzinga.com/news/24/05/38549587/iperionx-and-vegas-fastener-to-co-produce-titanium-fasteners-for-u-s-army">titanium alloy fasteners</a> and precision components for critical sectors, including the U.S. Army Ground Vehicle Systems Center. 
This collaboration aims to create products with exceptional strength-to-weight ratios and corrosion resistance for aerospace, naval, oil and gas and other high-performance industries.
2. Q1 sales for Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) reached $77.6 million, nearly matching the previous record and showing an 18% increase from Q1 2023. 
Gross margin hit a 12-year high at 18.9%, despite a $1.3 million cost from raw materials, and net income rose 59% to $4.1 million
Operations cash flow was $10.3 million, up 39%, with a $325 million backlog due to strong orders, particularly in the aerospace sector.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/general/biotech/24/04/38535093/april-showers-on-wall-street-miners-utilities-emerge-as-bright-spots-in-gloomy-market">April Showers On Wall Street: Miners, Utilities Emerge As Bright Spots In Gloomy Market</a>
3. Century Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) reported Q1 2024 net sales of $489.5 million and net income of $246.8 million, with adjusted EBITDA at $25 million. 
The company experienced a $22.8 million sales drop due to lower premiums, despite an aluminum price increase to $2,190 per ton, and cash and liquidity totaled $302 million.&nbsp;
Adjusted net loss for the quarter was $3 million, influenced by exceptional items, including a large gain from an acquisition.
Notably, Century was chosen for a $500 million investment by the U.S. Department of Energy for a new green aluminum smelter and announced a joint venture to develop a low carbon billet casthouse.&nbsp;
4. Ryerson Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYI#NYSE">RYI</a>) reported Q1 earnings with revenue of $1.24 billion from 497,000 tons shipped at an average price of $2,493 per ton. 
The company faced a net loss of $7.6 million and adjusted EBITDA of $40.2 million amid challenging conditions and costs from capital investments and system upgrades.&nbsp;
Debt increased to $497 million, with net debt at $455 million, but Ryerson started operations at a new service center, completed a major enterprise resource planning integration and announced $40 million in expected annual cost savings.&nbsp;
The company plans to spend $110 million on capital expenditures in 2024, reducing to $50 million in 2025.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38500350/first-quantum-minerals-closes-ravensthorpe-nickel-mine-cuts-330-jobs">First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Shutterstock

Commodities

IperionX Partners With Vegas Fastener; Universal Stainless Hits Record Margins; Century Aluminum's Sales Downturn And More: Wednesday's Top Mining Stories

Universal Stainless & Alloy Products shares are trading higher after the company reported better-than-expected Q1 GAAP EPS results.

Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.32 by 34.37 percent. The company reported quarterly sales of $77.637 million which missed the analyst consensus estimate of $79.125 million by 1.88 percent. This is a 17.87 percent increase over sales of $65.865 million the same period last year.

Earnings Misses

Universal Stainless Q1 2024 GAAP EPS $0.43 Beats $0.32 Estimate, Sales $77.637M Miss $79.125M Estimate

Small-caps get a lift after Fed's jumbo rate cut: See top 20 names in SA Quant ratings

Aperam to buy Universal Stainless for $45 per share

Universal Stainless & Alloy Products, Inc. (USAP) M&A Call Transcript

KeyBanc analyst Philip Gibbs maintained a Hold rating on Universal Stainless & Alloy Products (USAP – Research Report) yesterday. The company's sha...

KeyBanc Reaffirms Their Hold Rating on Universal Stainless & Alloy Products (USAP)

Universal Stainless & Alloy Products Merger Arbitrage Play

M&A deals roundup: Expedia, Sanofi, Zuora, Forward Air and more

Next Century Growth Investors Q3 2024 Commentary

Universal Stainless & Alloy is set to be acquired by Aperam S.A. in early 2025, notes Hunterbrook Media, which also says that a U.S. Air Force Safe...

Universal Stainless & Alloy tied to fatal crash last year, Hunterbrook says

Universal Stainless &amp; Alloy Products GAAP EPS of $1.11, revenue of $87.3M

Universal Stainless & Alloy Products (USAP) has disclosed a new risk, in the Regulation category. The ongoing merger involving Universal Stainless ...

Regulatory Hurdles Threaten to Delay Universal Stainless & Alloy Products Merger

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Press Releases

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ZUO, USAP, SASR on Behalf of Shareholders

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USAP, GATO, AG on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Universal Stainless & Alloy Products Inc. - USAP

Kuehn Law Encourages SASR, ICCH, USAP, and INSI Investors to Contact Law Firm

Universal Stainless Reports Record Sales and Net Income in Third Quarter of 2024

USAP Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Universal Stainless & Alloy Products to Aperam

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USAP, ALTR, GLYC on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Mergers of ARCH, AG, USAP and PWUP

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USAP, ARCH, PWUP, AG on Behalf of Shareholders

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