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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Air Industries (AIRI), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Air Industries currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for AIRI that show why this maker of parts for the aerospace industry and defense contractors shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For AIRI, shares are up 24.33% over the past week while the Zacks Aerospace - Defense industry is up 4.11% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 57.32% compares favorably with the industry's 3.25% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of Air Industries have risen 93.69%, and are up 104.11% in the last year. In comparison, the S&P 500 has only moved 4.07% and 28.21%, respectively.
Investors should also take note of AIRI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, AIRI is averaging 3,725,149 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with AIRI.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost AIRI's consensus estimate, increasing from -$0.65 to -$0.05 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that AIRI is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Air Industries on your short list.
Zacks Investment Research
Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is Air Industries (AIRI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
Air Industries is one of 46 companies in the Aerospace group. The Aerospace group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Air Industries is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AIRI's full-year earnings has moved 92.3% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AIRI has returned about 98.5% since the start of the calendar year. Meanwhile, stocks in the Aerospace group have gained about 4.1% on average. As we can see, Air Industries is performing better than its sector in the calendar year.
Another stock in the Aerospace sector, Vertical Aerospace Ltd. (EVTL), has outperformed the sector so far this year. The stock's year-to-date return is 32.3%.
In Vertical Aerospace Ltd.'s case, the consensus EPS estimate for the current year increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Air Industries belongs to the Aerospace - Defense industry, a group that includes 22 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have lost 2.3% this year, meaning that AIRI is performing better in terms of year-to-date returns. Vertical Aerospace Ltd. is also part of the same industry.
Investors with an interest in Aerospace stocks should continue to track Air Industries and Vertical Aerospace Ltd. These stocks will be looking to continue their solid performance.
Zacks Investment Research
From a technical perspective, Air Industries Group (AIRI) is looking like an interesting pick, as it just reached a key level of support. AIRI's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.
A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.
This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.
Over the past four weeks, AIRI has gained 71.5%. The company currently sits at a #1 (Strong Buy) on the Zacks Rank, also indicating that the stock could be poised for a breakout.
The bullish case only gets stronger once investors take into account AIRI's positive earnings outlook for the current quarter. There have been 1 upwards revisions compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
Given this move in earnings estimates and the positive technical factor, investors may want to keep their eye on AIRI for more gains in the near future.
Zacks Investment Research
It’s been over 20 years since the September 11th attacks but many of us vividly remember where we were and what we were doing on this tragic day.
One of the gifts of the stock market is that investors have the option to invest in companies that may help to prevent these heinous acts in the future.
Outside of reaping potential monetary gains, these types of investments may fulfill a call to support and strengthen our patriotism and the ability to keep our world safe from future terror.
The Top-Rated Aerospace-Defense Industry
Notably, the Zacks Aerospace-Defense Industry is currently in the top 9% of over 250 Zacks industries. One of the well-known companies to consider in the space is Lockheed Martin LMT, a crucial contributor to homeland security.
Headquartered near Washington D.C., Lockheed Martin is the largest defense contractor in the world with its operations extending to aeronautics including the production of fighter jets along with information and intelligence security.
Rising over 20% YTD, Lockheed Martin’s stock currently lands a Zacks Rank #3 (Hold). While there could be better buying opportuniteis ahead, longer-term investors may still be rewarded considering the defense giant’s robust top and bottom lines. Plus, LMT offers a generous 2.2% annual dividend yield.
Furthermore, Lockheed Martin’s defense technology solutions remain in high demand with the company having a backlog of $160 billion which is 2X greater than its annual revenue.
Hidden Gem
Sporting a Zacks Rank #1 (Strong Buy), Air Industries Group AIRI has been a prime beneficiary among the top-rated aerospace-defense industry. Based in New York, Air Industries’ stock has skyrocketed over +80% YTD as a manufacturer of landing gear components and other critical safety parts to the defense and commercial markets.
With its stock trading around $6, the continued rally in AIRI comes as earnings estimate revisions have soared in the last 30 days. Even better, Air Industries is on the cusp of turning a profit next year with fiscal 2025 EPS projected at $0.26.
Air Industries' top line growth also alludes to its future earnings potential with total sales expected to be up 7% this year and projected to rise another 9% in FY25 to $60 million.
Palantir Technologies PLTR
Among the business services sector, Palantir Technologies has remained one of the most intriguing companies to invest in regarding homeland security. Located in Denver Colorado, Palantir provides artificial intelligence-driven software platforms to the intelligence community including counter-terrorism agencies.
Palantir’s stock has soared +100% year to date and sports a Zack Rank #2 (Buy) with high double-digit top and bottom line growth in the forecast for FY24 and FY25. Reassuringly, earnings estimate revisions have remained higher in the last 30 days with it noteworthy that Palantir’s Zacks Technology Services Industry is in the top 28% of all Zacks industries.
PLTR has soared over +200% since its IPO in 2020 with investors becoming more engaged by Palantir’s AI offerings and the fact that the company is already profitable.
Final Thoughts
As we commemorate 9/11 these top aerospace and defense stocks may certainly be attractive not only for financial gains but to support and invest in homeland security.
Zacks Investment Research
For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Air Industries is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Air Industries is a member of the Aerospace sector. This group includes 46 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Air Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIRI's full-year earnings has moved 92.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AIRI has moved about 68.6% on a year-to-date basis. In comparison, Aerospace companies have returned an average of 5.3%. This means that Air Industries is outperforming the sector as a whole this year.
MTU Aero Engines AG is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 39%.
Over the past three months, MTU Aero Engines AG's consensus EPS estimate for the current year has increased 3.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Air Industries belongs to the Aerospace - Defense industry, which includes 22 individual stocks and currently sits at #45 in the Zacks Industry Rank. On average, stocks in this group have lost 0.7% this year, meaning that AIRI is performing better in terms of year-to-date returns. MTU Aero Engines AG is also part of the same industry.
Air Industries and MTU Aero Engines AG could continue their solid performance, so investors interested in Aerospace stocks should continue to pay close attention to these stocks.
Zacks Investment Research
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Air Industries , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Air Industries currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here
Set to Beat the Market?
In order to see if AIRI is a promising momentum pick, let's examine some Momentum Style elements to see if this maker of parts for the aerospace industry and defense contractors holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For AIRI, shares are up 68.97% over the past week while the Zacks Aerospace - Defense industry is up 2.68% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 46.07% compares favorably with the industry's 2.23% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Air Industries have risen 54%, and are up 84.84% in the last year. In comparison, the S&P 500 has only moved 5.71% and 27.74%, respectively.
Investors should also pay attention to AIRI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. AIRI is currently averaging 3,603,150 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with AIRI.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost AIRI's consensus estimate, increasing from -$0.65 to -$0.05 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that AIRI is a #1 (Strong Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Air Industries on your short list.
Zacks Investment Research
Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Here’s a look at the Benzinga Stock Whisper Index for the week of Aug. 23:
Okta Inc : The cloud security stock is seeing strong interest from investors ahead of second-quarter financial results. Okta will report Q2 financial results on Aug. 28 after market close.
Analysts expect the company to report earnings per share of 61 cents and revenue of $632.6 million. Both figures represent significant year-over-year increases from 31 cents and $556.0 million respectively. The company has beaten both earnings and revenue estimates from analysts in more than 10 straight quarters. Cloud and security remain two key sectors seeing growth and increased attention from investors.
Okta shares are up 7.3% year-to-date, currently underperforming the broader market.
Faraday Future Intelligent Electric : The electric vehicle stock has been popular with retail investors over the past year and the stock traded as a penny stock. The company recently completed a reverse stock split lowering the float.
On Monday, the company completed a 1:40 reverse stock split and saw shares soar on the lower float of 12 million shares, with the ticker trending on social media.
Outside of the stock split and retail interest, another catalyst for the company could be coming on Sept. 19 with the company hosting a launch event for its China-U.S. Automotive Bridge Strategy, where it will share details on its second automotive brand. Faraday Future shares soared over 140% on the week, but the stock remains down over 60% year-to-date in 2024.
Air Industries Group : The aerospace company announced a new $110 million, seven-year contract to produce parts for the Geared Turbo-Fan jet engine.
This marks the largest contract in company history for Air Industries and the value is higher than the company's market capitalization of $24 million. The new contract begins in 2025 and replaces an existing contract set to expire in December 2024. The company said annual sales are expected to increase due to the contract.
"With this single order, our backlog has surged to over $280 million, marking the first time our backlog has exceeded a quarter of a billion dollars," Air Industries CEO Lou Melluzzo said.
The company recently reported second-quarter financial results with revenue of $13.6 million and earnings per share of 9 cents beating analyst estimates. Air Industries shares are up over 50% in the past five trading days.
GE Aerospace : The aerospace company is seeing increased interest from investors, which could be due to the defense sector becoming a value play or a sector investors are looking at ahead of the 2024 presidential election.
Freedom Capital Markets Chief Global Strategist Jay Woods recently told Benzinga, the defense sector was one that could be a winner no matter who wins the election. Woods named GE Aerospace as a company to watch in the defense sector and a prime example of what splitting up companies can do, with the sum of the parts now worth more than the whole.
GE shares were up slightly on the week and the stock is up over 60% year-to-date in 2024.
Lululemon Athletica Inc : The apparel company is seeing strong interest from readers ahead of second-quarter financial results.
Lululemon will report second-quarter results on Aug. 29 after market close. Analysts expect the company to report second-quarter revenue of $2.42 billion, up from $2.21 billion in the prior year. Analysts expect the company to post earnings per share of $2.95 for the quarter, up from $2.68 in the prior year.
Lululemon has beaten analyst estimates for revenue in nine straight quarters and earnings per share in more than 10 straight quarters.
Shares of Lululemon rose over 1.5% on the week, but remain down over 40% year-to-date in 2024.
Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
Read the latest Stock Whisper Index reports here:
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