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Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."
Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
There are several stocks that currently pass through the screen and Clover Health Investments, Corp. (CLOV) is one of them. Here are the key reasons why this stock is a great candidate.
Investors' growing interest in a stock is reflected in its recent price increase. A price change of 5.6% over the past four weeks positions the stock of this company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. CLOV meets this criterion too, as the stock gained 140.9% over the past 12 weeks.
Moreover, the momentum for CLOV is fast paced, as the stock currently has a beta of 2.13. This indicates that the stock moves 113% higher than the market in either direction.
Given this price performance, it is no surprise that CLOV has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped CLOV earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Most importantly, despite possessing fast-paced momentum features, CLOV is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. CLOV is currently trading at 0.78 times its sales. In other words, investors need to pay only 78 cents for each dollar of sales.
So, CLOV appears to have plenty of room to run, and that too at a fast pace.
In addition to CLOV, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Aligos Therapeutics, Inc. (ALGS) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Aligos Therapeutics, Inc. is a member of our Medical group, which includes 1019 different companies and currently sits at #4 in the Zacks Sector Rank. 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. Aligos Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGS' full-year earnings has moved 55.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGS has moved about 17.1% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 10.3% on average. This means that Aligos Therapeutics, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Clover Health Investments, Corp. (CLOV). The stock is up 163.6% year-to-date.
Over the past three months, Clover Health Investments, Corp.'s consensus EPS estimate for the current year has increased 38.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aligos Therapeutics, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 497 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 0% so far this year, meaning that ALGS is performing better in terms of year-to-date returns.
On the other hand, Clover Health Investments, Corp. belongs to the Medical Info Systems industry. This 41-stock industry is currently ranked #74. The industry has moved -12.9% year to date.
Investors with an interest in Medical stocks should continue to track Aligos Therapeutics, Inc. and Clover Health Investments, Corp. These stocks will be looking to continue their solid performance.
Zacks Investment Research
Sept 3 (Reuters) - Clover Health Investments Corp CLOV.O:
THE IOWA CLINIC SIGNS MULTI-YEAR AGREEMENT WITH COUNTERPART HEALTH TO DEPLOY PROVEN AI TECHNOLOGY TO HUNDREDS OF PROVIDERS ACROSS THE MIDWEST
Source text for Eikon: (Full Story)
Further company coverage: CLOV.O
U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.1% on Wednesday.
Shares of PVH Corp. fell sharply in today's pre-market trading after the company guided a third-quarter revenue decline and issued EPS estimates below estimates.
PVH reported quarterly earnings of $3.01 per share, which beat the analyst consensus estimate of $2.29 by 31.44%. Quarterly sales came in at $2.074 billion which beat the analyst consensus estimate and is a 6.03% decrease from the same period last year.
PVH expects third-quarter revenue to decrease by 6% to 7% and sees earnings of approximately $2.50 per share versus the $3.12 estimate. The company reaffirmed the fiscal year 2024 revenue decrease of 6% to 7% and raised its earnings outlook from between $11.00 and $11.25 per share to between $11.55 and $11.80 per share versus the estimate of $11.31.
PVH shares dipped 8.1% to $95.97 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."
Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
Clover Health Investments, Corp. is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
Investors' growing interest in a stock is reflected in its recent price increase. A price change of 88.1% over the past four weeks positions the stock of this company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. CLOV meets this criterion too, as the stock gained 184.6% over the past 12 weeks.
Moreover, the momentum for CLOV is fast paced, as the stock currently has a beta of 2.1. This indicates that the stock moves 110% higher than the market in either direction.
Given this price performance, it is no surprise that CLOV has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped CLOV earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Most importantly, despite possessing fast-paced momentum features, CLOV is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. CLOV is currently trading at 0.98 times its sales. In other words, investors need to pay only 98 cents for each dollar of sales.
So, CLOV appears to have plenty of room to run, and that too at a fast pace.
In addition to CLOV, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
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