Each week, The Fly will announce the newest downgrades to Strong Sell in StockNews.com's POWR Ratings algorithmic model.
This Fly exclusive recap identifies stocks with over a $1B market capitalization that have been downgraded this week to the Strong Sell, or "F," rating in the service's proprietary model that analyzes 118 different factors, each of which contribute a little to the stock's predicted likelihood of underperformance. A bell curve distribution of StockNews.com's ratings shows that only the top 5% of the over 5,000 stocks rated by the system are assigned a "Strong Buy," or "A," rating while the bottom 5% are assigned a Strong Sell. The F-rated stocks would have tumbled an average of 18.98% a year since 1999, according to StockNews.com.
This week's downgrades to Strong Sell as determined by the POWR Ratings algorithm:
Learn more about the POWR Ratings
The Fly's recent reporting on these stocks includes:
On July 28, Enovix Corporation announced an agreement with EDOM Technology, which has 32 sales offices across their subsidiary network in China, Singapore, Thailand, Vietnam, India, Malaysia, South Korea and Japan. "EDOM has more than 160 engineers that work directly with customers to design leading-edge, consumer-based products. The team includes technical experts with in-depth knowledge of the complexities of powering consumer electronics, who will work with targeted customers in Asia for Enovix," the company stated.
The same day, Canaccord analyst Katie Lachapelle initiated coverage of Energy Fuels with a Speculative Buy rating and C$10 price target. The company, a leading U.S. producer of uranium and vanadium and an emerging producer of rare earth element products, is leveraging its diverse asset base, including the White Mesa mill, on a path to become "a leading multi-commodity critical mineral company," Lachapelle said. Both uranium and rare earths have strong fundamental outlooks backed by the global energy transition and Energy Fuels is well positioned as "a proven producer with near-term production potential," the analyst added.
On July 26, Iveric Bio reported on its second quarter results. As of June 30, the company had $312M in cash, cash equivalents and available for sale securities. "We are excited to share that today marks one year since we completed patient enrollment of GATHER2, our second Phase 3 clinical trial for Zimura, a novel complement C5 inhibitor, for the treatment of geographic atrophy. Our team executed well all year as we exceeded our expectations for patient retention and injection fidelity, which we believe further de-risks GATHER2 and is an integral part of the clinical trial outcome. We look forward to reporting the topline data of GATHER2 in September of this year," stated Glenn Sblendorio, CEO of Iveric Bio.
Vacasa
+0.01 (+0.40%)
Enovix
+1.2 (+10.11%)
Iveric bio
-0.225 (-2.11%)
NeoGenomics
+0.105 (+1.06%)
NexGen Energy
+0.03 (+0.70%)
Sana Biotechnology
-0.825 (-11.34%)
Planet Labs
+0.095 (+1.86%)
Recursion Pharmaceuticals
+0.02 (+0.24%)
Warby Parker
-0.085 (-0.68%)
Lightspeed
+0.07 (+0.34%)
Monday.com
-0.6 (-0.59%)
Par Technology
-0.13 (-0.31%)
Energy Fuels
+0.135 (+2.07%)