Market

Ceva And Carvana Among Today’s Top Shorts As April Jobs Data Shockingly Disappoints

The Nasdaq
NDAQ
this morning shattered its worst losing streak since October. After high-flying growth stocks dropped by double digits yesterday, such as Fastly, Rocket Mortgage, and Etsy, we saw a sharp return to the pandemic trade. On the one hand, reopening stocks panicked at the shockingly disappointing April job numbers, which came in at 266,000 compared to the estimate of 1 million. They also did not like that bond yields fell 5 basis points and that unemployment came in at 6.1% compared to the forecasted 5.8%. But, like it or not, the tech stocks cheered this. The Dow remained flat, while the S&P rose 0.3%, and the Nasdaq popped 0.8%. Many investors began the week concerned that the Fed would have to hike interest rates sooner than expected, especially considering Treasury Secretary Janet Yellin’s comments. But, if these results show us anything, we may not be as close to normal as we once thought. If you’re looking for a way to play this market, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays. 

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Ceva Inc (CEVA) 

Ceva Inc is today’s first Top Buy, and on our list for the second consecutive day. Ceva is a leading provider of ultra-low-power IP for vision, deep learning, audio, communication and connectivity. Our AI systems rated the company D in Technicals, D in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 0.55% to $51.37 on volume of 174,563 vs its 10-day price average of $55.3 and its 22-day price average of $56.19, and is up 14.87% for the year. Revenue was $100.33M in the last fiscal year compared to $77.88M three years ago, Operating Income was $(0.76)M in the last fiscal year compared to $(1.25)M three years ago, EPS was $(0.11) in the last fiscal year compared to $0.03 three years ago, and ROE was (0.93%) in the last year compared to 0.23% three years ago. The stock is also trading with a Forward 12M P/E of 85.33.

MORE FROM FORBESCeva (CEVA)

Carvana Co (CVNA)

Carvana is our second Top Short. The company is a major innovator and disruptor in the car industry, and is a robust online used car dealer. Our AI systems rated Carvana C in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed down 6.12% to $263.45 on volume of 3,424,914 vs its 10-day price average of $285.79 and its 22-day price average of $277.85, and is up 11.5% for the year. Revenue grew by 20.53% in the last fiscal year and grew by 244.35% over the last three fiscal years, Operating Income grew by -23.77% in the last fiscal year, and EPS grew by -22.3% in the last fiscal year. Revenue was $5586.56M in the last fiscal year compared to $1955.47M three years ago, Operating Income was $(332.4)M in the last fiscal year compared to $(220.73)M three years ago, EPS was $(2.63) in the last fiscal year compared to $(2.03) three years ago, and ROE was (93.05%) in the last year compared to (100.5%) three years ago. Forward 12M Revenue is also expected to grow by 5.83% over the next 12 months. 

MORE FROM FORBESCarvana (CVNA)

Kirby Corp (KEX) 

Kirby Corporation
KEX
 
is our next Top Short. The Houston-based company is the largest tank barge operator in the United States, and transports bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, along all three U.S. Coasts, and in Alaska and Hawaii. Our AI systems rated the company F in Technicals, F in Growth, C in Low Volatility Momentum, and C in Quality Value. The stock closed up 0.8% to $67.01 on volume of 353,671 vs its 10-day price average of $64.45 and its 22-day price average of $62.91, and is up 30.07% for the year. EPS grew by -126.08% in the last fiscal year. Revenue was $2171.41M in the last fiscal year compared to $2970.7M three years ago, Operating Income was $148.31M in the last fiscal year compared to $251.7M three years ago, EPS was $(4.55) in the last fiscal year compared to $1.31 three years ago, and ROE was (8.41%) in the last year compared to 2.5% three years ago. Forward 12M Revenue is expected to grow by 3.34% over the next 12 months, and the stock is trading with a Forward 12M P/E of 46.12.

MORE FROM FORBESKirby (KEX)

Pbf Energy Inc (PBF) 

PBF Energy, Inc. is our fourth Top Short today. The company engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. Our AI systems rated Pbf Energy D in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 2.89% to $16.11 on volume of 2,280,670 vs its 10-day price average of $14.72 and its 22-day price average of $14.09, and is up 135.53% for the year. EPS grew by -72.71% in the last fiscal year. Revenue was $15115.9M in the last fiscal year compared to $27186.1M three years ago, Operating Income was $(1484.5)M in the last fiscal year compared to $722.6M three years ago, EPS was $(11.64) in the last fiscal year compared to $1.1 three years ago, and ROE was (46.07%) in the last year compared to 5.7% three years ago. Forward 12M Revenue is also expected to grow by 3.26% over the next 12 months. 

MORE FROM FORBESPBF Energy (PBF)

United States Steel Corp (X)

Pittsburgh based steel producer United States Steel, or US Steel, is our final Top Short of the day. WIth cracks of inflation showing, and commodity prices soaring, this is a stock to pay close attention to. As of 2018, the company was the world’s 27th-largest steel producer and the second-largest in the US, trailing only Nucor Corporation
NUE
. Our AI systems rated US Steel F in Technicals, F in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed up 0.93% to $25.96 on volume of 20,150,350 vs its 10-day price average of $24.4 and its 22-day price average of $23.25, and is up 51.46% for the year. Revenue grew by 9.4% in the last fiscal year, Operating Income grew by -59.41% in the last fiscal year, and EPS grew by -46.73% in the last fiscal year. Revenue was $9741.0M in the last fiscal year compared to $14178.0M three years ago, Operating Income was $(712.0)M in the last fiscal year compared to $950.0M three years ago, EPS was $(5.92) in the last fiscal year compared to $6.25 three years ago, and ROE was (29.23%) in the last year compared to 29.64% three years ago. Forward 12M Revenue is expected to grow by 0.46% over the next 12 months, and the stock is trading with a Forward 12M P/E of 4.1. 

MORE FROM FORBESUS Steel (X)

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