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Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.

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On Monday, Zomedica Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ZOM#AMEX">ZOM</a>) disclosed the launch of two new canine assays for its TRUFORMA <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/ac42643363/zomedica-launches-two-new-quantitative-assays-on-the-truforma-r-platform-canine-nt-probnp-and-pro" rel="noreferrer noopener">In-Clinic Biosensor Testing Platform</a>.
Zomedica&#8217;s progesterone test quantitatively measures progesterone levels in canine serum, helping determine optimal breeding timing, predict parturition dates, plan cesarean sections, and detect reproductive disorders, all with reference lab-level accuracy and in-clinic convenience.
The progesterone assay has become one of the most requested by practitioners, reflecting the high demand given the 4 million puppies born in the U.S. each year.
The canine NT-poBNP test measures NT-proBNP levels in EDTA plasma or serum, helping identify conditions such as congestive heart failure.
It distinguishes between cardiac and respiratory issues, identifies high-risk dogs, and supports monitoring of myxomatous mitral valve degeneration with reference lab-level accuracy.
Dr. Kelli Puccio, a Professional Services Veterinarian for Zomedica, said, &#8220;The TRUFORMA canine NT-proBNP assay facilitates the early detection of canine heart disease with the convenience of results in just a few minutes.&#8221;
&#8221;This provides veterinarians with the ability to start treatments and schedule advanced diagnostic tests more quickly. Increasing our patients&#8217; quality of life earlier in the disease process.&#8221;
&#8220;The TRUFORMA canine progesterone assay provides accurate serial quantitative progesterone measurements in clinic. This will permit veterinarians to recognize the optimal breeding window more efficiently, allowing for more successful breeding cycles.&#8221;
Ashley Wood, PhD, Zomedica&#8217;s Vice President of Research &amp; Development added, &#8220;Canine NT-proBNP and progesterone expand the range of indications to now include cardiac and reproductive conditions, offering even more comprehensive insights and support for clinical decision-making.&#8221;
Last month, Zomedica launched its third equine-focused assay—insulin for equine plasma—on the TRUFORMA <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/ac41966890/zomedica-launches-quantitative-insulin-assay-for-equine-plasma-on-the-truforma-r-platform" rel="noreferrer noopener">In-Clinic Biosensor Testing Platform</a>.
Price Action: ZOM shares are down 4.31% at $0.1199 at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com//node/42646240" target="_blank" rel="noreferrer noopener">Rocket Lab Ends 2024 With 16th Launch, Stock Gains</a></li>
</ul>
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Zomedica Unveils New Canine Tests Offering Faster Diagnostics for Heart and Breeding Health

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has dropped 17% in the past week, but analysts and traders suggest this could be a setup for a significant rally in 2025, fueled by increased investor interest and key bullish metrics.
What Happened: Lookonchain <a href="https://x.com/lookonchain/status/1871138914226057482">posted</a> on X on Dec. 23 that North Korean hackers suffered a $458,000 loss after betting on an Ethereum price increase. 
They deposited $476,489 USDC on Hyperliquid (CRYPTO: HYPE) to take a long position at $3,791.8 but were liquidated when Ethereum's price fell to $3,251.8.
CryptoQuant detailed shows key Ethereum metrics having turned bullish, such as moderately positive funding rates.
The Korea Premium Index for Ethereum suggests a significant price premium on South Korean exchanges, signaling heightened local demand.
Lastly, both institutional and retail investors are <a href="https://x.com/cryptoquant_com/status/1871168626021016027">showing</a> renewed confidence, with Ethereum fund holdings increasing despite the price dip.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42596979/ethereum-price-plummets-5-why-is-eth-going-down">Ethereum Price Plummets 5%: Why Is ETH Going Down?</a>
Trader Notes: Amid the downturn, crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/1871138681198666100">noted</a> Ethereum&#8217;s struggle to break above $4,000, a key resistance level. However, he remains skeptical that bears can "hold it down for a fourth time."
Adding optimism, IncomeSharks described the price drop as a "chimney pattern," hinting at a potential Santa Claus rally heading into the year-end.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> &#8211; We had to make the chimney pattern for a Santa Claus rally to play out. <a href="https://t.co/pC1KsxklZt">pic.twitter.com/pC1KsxklZt</a>
&mdash; IncomeSharks (@IncomeSharks) <a href="https://twitter.com/IncomeSharks/status/1871044701706674524?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Implying positive long-term sentiment, Quinten Francois dubbed Ethereum the &#8220;underdog of this cycle,&#8221; <a href="https://x.com/QuintenFrancois/status/1871092863305433259">highlighting</a> its potential for "massive accumulation" rather than speculative hype.
Cold Blooded Shiller predicts Ethereum will have a "really good 2025," suggesting that a price dip to $2,750–$3,000 could be an excellent entry point for long-term positioning. 
However, he <a href="https://x.com/ColdBloodShill/status/1871206623726743888">notes</a> Ethereum's 2024 performance may be limited to a 20% gain.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42490266/bitcoin-to-180000-ethereum-over-6000-solana-to-500-vanecks-2025-crypto-predictions">Bitcoin To $180,000, Ethereum Over $6,000, Solana To $500: VanEck&#8217;s 2025 Crypto Predictions</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ETH

Ethereum Price Drops 17% In 7 Days: What Is Going On With ETH?

Trading Ideas

NVNI

Nvni Group Shares Resumed Trade

Morgan Stanley analyst Brian Harbour maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Overweight and raises the price target from $193 to $209.

Price Target

Analyst Ratings

Morgan Stanley Maintains Overweight on Darden Restaurants, Raises Price Target to $209

QCOM

Live On CNBC, Jim Lebenthal Announces Bought More Qualcomm

In the current market session, Magnolia Oil &amp; Gas Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGY#NYSE">MGY</a>) share price is at $22.99, after a 0.44% spike. Moreover, over the past month, the stock fell by 18.05%, but in the past year, went up by 3.27%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1734974110_0.png" alt="Past Year Chart" />

<h3>Magnolia Oil &amp; Gas P/E Ratio Analysis in Relation to Industry Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Magnolia Oil &amp; Gas has a lower P/E than the aggregate P/E of 24.49 of the Oil, Gas &amp; Consumable Fuels industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1734974110_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

P/E Ratio Insights for Magnolia Oil & Gas

Nvni Group Shares Halted On Circuit Breaker To The Upside, Stock Now Up 1.28%

Nvni Group Shares Resume Trading

Shares of Winnebago Industries Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) remained under pressure on Monday, after the company reported a higher-than-expected loss <a href="https://www.benzinga.com/news/earnings/24/12/42615254/winnebago-industries-stock-falls-after-q1-earnings-miss-amid-challenging-marine-operating-environment">for the first quarter</a>.
Here are some key analyst takeaways.
<ul>
<li>Roth Capital Partners <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58fe05b90bd9910001595372/scott-stember">analyst Scott Stember</a> reiterated a Neutral rating and price target of $56.</li>
<li>BMO Capital Partners <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6531555b0d10db0001eaba63/tristan-thomas-martin">analyst Tristan Thomas-Martin</a> maintained an Outperform rating and price target of $70.</li>
<li>Truist Securities <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ee65320bd9910001ca9bef/michael-swartz">analyst Michael Swartz</a> reaffirmed a Buy rating and price target of $64.</li>
<li>Benchmark <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/62ab115992747d0001c9ab9f/michael-albanese">analyst Michael Albanese</a> reiterated a Buy rating and price target of $70.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Roth Capital Partners: Winnebago reiterated the midpoint of its fiscal 2025 earnings guidance, Stember said in a note. The company indicated prospects of the RV (recreational vehicle) environment becoming brighter, with monthly improvements in trend from October into November and the first two weeks of December showing year-on-year growth, he added.
"While encouraging, we note that December tends to be among the lowest selling volume months of the year, so one should be careful in drawing conclusions at this time," the analyst wrote. Although Winnebago would likely be "among the first OEMs to come out of the RV recession," there are limited signs of a sustained retail recovery, he further stated.
BMO Capital Partners: The company reported an adjusted loss of 3 cents per share. That&#8217;s below Street expectations of 20 cents, and a contraction from the year-ago quarter's 95 cents. Management indicated there were several "green shoots" heading into 2025, "with improving consumer confidence and an expectation of more interest rate cuts in 2025," Thomas-Martin said.
Management added that post-election retail trends had been positive, which could support a turnaround in the second half of fiscal 2025, the analyst stated. "For Q2, management expects sales to be in line with Q1 with a modest improvement to profitability," he further wrote.
Truist Securities: Although Winnebago missed its first-quarter results and announced a muted guidance for the second quarter, conversations with management suggest that "the tide may finally be turning," Swartz said in a note. The company's own internal registrations strengthened on a year-on-year basis in November) and the trend has carried into mid-December, he added.
"In addition to WGO&#8217;s greater production constraint (it undershipped the RV industry considerably in FY1Q), mngts&#8217; upbeat retail commentary, evidenced market share gains and (hopefully) a bottoming of Motorized RV profitability in FY1Q is suggestive of a relatively stronger recovery curve over the coming 12-18 months," the analyst further wrote.
Benchmark: The shortfall on the company's bottom-line was driven by a decline in sales and margin contraction, Albanese said. This resulted from factors such as "the GD Motor startup, increased warranty expense and absorption de-leverage," he added.
Management suggested that consumer confidence had improved. Retail sales had inflected positively for the first time in 40 months. Also, inventory was close to the one-to-one ratio, which "should relieve some pricing pressures," the analyst stated. "WGO likes what it is seeing in its internal data through the end of the year," he further wrote.
Price Action: Shares of Winnebago had declined by 1% to $49.47 at the time of publication on Monday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41914981/bitcoin-miners-hive-digital-hut-8-bitfarms-to-report-earnings-as-future-of-crypto-has-never-been-brighter">Bitcoin Miners Hive Digital, Hut 8, Bitfarms To Report Earnings As Future Of Crypto &#8216;Has Never Been Brighter&#8217;</a></li>
</ul>
Image: Courtesy of Winnebago

Analyst Color

Earnings Beats

Reiteration

Is Winnebago Steering Toward A Turnaround? Analysts Are Split

Nvni Group Shares Halted On Circuit Breaker To The Upside, Stock Now Down -9.79%

Nvni Group Shares Resume Trade

HC Wainwright &amp; Co. analyst Amit Dayal reiterates REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) with a Buy and maintains $15 price target.

HC Wainwright & Co. Reiterates Buy on REE Automotive, Maintains $15 Price Target

Nvni Group Shares Halted On Circuit Breaker To The Upside, Stock Now Down -20.4%

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Aemetis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMTX#NASDAQ">AMTX</a>) with a Buy and maintains $28 price target.

AMTX

HC Wainwright & Co. Reiterates Buy on Aemetis, Maintains $28 Price Target

Lululemon Athletica's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NYSE">LULU</a>) short percent of float has fallen 14.2% since its last report. The company recently reported that it has 5.50 million shares sold short, which is 5.56% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lululemon Athletica Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734973224_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lululemon Athletica has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Lululemon Athletica's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lululemon Athletica's peer group average for short interest as a percentage of float is 9.62%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Lululemon Athletica's Recent Short Interest

Curtiss-Wright's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CW#NYSE">CW</a>) short percent of float has risen 36.78% since its last report. The company recently reported that it has 400 thousand shares sold short, which is 1.19% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.64 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Curtiss-Wright Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734973218_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Curtiss-Wright has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Curtiss-Wright's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Curtiss-Wright's peer group average for short interest as a percentage of float is 3.99%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Curtiss-Wright?

For generations, owning a home has been celebrated as a cornerstone of the American dream. If you believe the financial advice echoed by countless experts, it's where you put down roots, raise your family and invest in your biggest asset.
But <a href="https://www.benzinga.com/news/24/12/42599186/a-trillion-seconds-was-31688-years-ago-robert-kiyosaki-runs-the-numbers-to-show-magnitude-of-the-nations-massive-mounting-debt">Robert Kiyosaki</a>, author of Rich Dad Poor Dad, has a blunt message: Your house is not your asset. In fact, you don't even truly own it.
As Kiyosaki said in a 2021 Facebook post:
"Your house is not your asset. You never own your house; the government does. You'll be paying them property tax forever."
Don't Miss:
<ul>
<li>Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a></li>
</ul>
It's a provocative claim, but Kiyosaki's reasoning is this: If something consistently costs you rather than putting money in your pocket, it's not an asset.
He points to the <a href="https://www.benzinga.com/real-estate/24/05/38620303/grant-cardone-exposes-housing-cost-surge-under-biden-mortgages-have-doubled-to-the-highest-level-in">ongoing expenses of homeownership – </a>mortgage payments, repairs, maintenance, utilities and, most notably, property taxes. Even when you've paid off your mortgage and hold the title to your home, you're not off the hook. Property taxes don't go away.
Property taxes are levied by local governments and are <a href="https://www.benzinga.com/real-estate/24/11/42010931/florida-just-introduced-a-property-tax-cola-for-retirees-how-this-boost-could-ease-housing-costs-for-thousands">calculated based on the assessed value</a> of your home. These taxes fund schools, infrastructure and emergency services but are a perpetual expense. If you fail to pay them, the consequences can be severe. The government can place a lien on your property and in extreme cases, your house could even be seized and sold to recover the debt.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a>
This is where Kiyosaki's argument hits hardest. Even though you may technically own your home, the reality is that the government retains a financial claim on it forever. For many, that's a sobering realization.
To be fair, there are exceptions. Some states offer tax breaks or exemptions for seniors, veterans or disabled homeowners. Others have homestead protections to limit how much property taxes can rise each year. But for most homeowners, these taxes remain a significant, lifelong expense.
Trending: Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.
Kiyosaki doesn't dismiss real estate altogether – far from it. He makes a sharp distinction between primary residences and investment properties. Unlike your home, investment properties can generate income through rent while appreciating, making them true assets in his eyes.
This perspective challenges the traditional narrative that homeownership is the ultimate financial milestone. Many people buy homes believing they're securing their future, but Kiyosaki argues that unless your home actively puts money in your pocket, it's not an investment – it's a liability.
So, what does this mean for the way people see homeownership? Does it change how you view your biggest purchase or reinforce the <a href="https://www.benzinga.com/real-estate/24/05/38874948/have-american-renters-given-up-on-the-dream-of-homeownership">value of owning a home despite the costs</a>?
Read Next:
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<li>Commercial real estate has historically outperformed the stock market, and<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=stockmarket-yahoo"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=jeffbezos100"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>

'You'll Never Own Your House. The Government Does' – Robert Kiyosaki Argues Your Home Is Never An Asset Because Property Taxes Are 'Forever'

SLM's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NYSE">SLM</a>) short percent of float has risen 4.85% since its last report. The company recently reported that it has 8.05 million shares sold short, which is 4.54% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.56 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SLM Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734973213_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SLM has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing SLM's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SLM's peer group average for short interest as a percentage of float is 6.38%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into SLM's Recent Short Interest

HC Wainwright &amp; Co. analyst Edward White reiterates 60 Degrees (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTP#NASDAQ">SXTP</a>) from Neutral to Neutral.

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Shares of quantum computing companies are trading higher. The sector has recently seen increased interest.

Nextracker Non-GAAP EPS of $0.97 beats by $0.36, revenue of $636M beats by $22.23M

Nextracker Inc. (NXT) Q2 2025 Earnings Call Transcript

Nextracker: Tracking Well On Quality Metrics

Powell Industries (POWL) reported solid financial results in the third quarter of 2024, easily beating analysts' expectations. While the industrial machinery company's long-term prospects are robust with a wide product portfolio, increasing demand, and market expansion, it faces short-term uncertainties amid upcoming earnings report and rigid competition. So, should you add this stock to your watchlist? Read more to find out... Powell Industries, Inc. (<a href="https://stocknews.com/stock/POWL/">POWL</a>) is a leading provider of custom-engineered equipment and systems. The company engaged in the designing, development, manufacturing, sale, and services of these systems. In the last reported quarter, the company's revenue of $288.17 million surpassed the analysts' expectations of $222.18 million. Also, its EPS of $3.79 was above the estimate of $2.16.
The revenue increase from the prior period was primarily driven by strong growth in the Oil and Gas sector, which increased 56% year-over-year to $114.3 million. Also, revenues from the Electric Utility sector amounted to $57 million, indicating an increase of 30%.
During the third quarter, POWL's new orders totaled $356 million, which were spread broadly across its key end markets, and its backlog was $1.30 billion as of June 30, 2024. The orders represent the estimated value of contracts added to the company's existing backlog and its continuous strides toward further expansion.
Amid the growth in the manufacturing industry and overall economic growth, the global industrial machinery market has grown strongly in recent years. The market is poised to grow to $777.35 billion by 2028, at a <a href="https://www.researchandmarkets.com/reports/5939714/industrial-machinery-global-market-report#:~:text=The%20industrial%20machinery%20market%20size,(CAGR)%20of%207.8%25.">CAGR of 7.2%</a>, driven by technological advances, market expansion, and adoption of robotics and automation.
Powell stands to capitalize on the industry's solid standing with its wide product portfolio. The company plays a crucial role in the industrial sector, especially with its electrical equipment products like electrical houses and medium-voltage circuit breakers.
Currently, a certain degree of uncertainty is lingering around the future prospects of POWL as it prepares to announce its financial results for the fiscal fourth quarter and year ended September 30, 2024, on November 19, 2024. Analysts have mostly projected optimistic expectations on its revenue and EPS for the quarter, with some alternate opinions.
Shares of POWL have gained 114.4% over the past six months and 317.3% over the past year to close its last trading session at $343.86.
Let's look at factors that could influence POWL's performance in the upcoming months.
Robust Financials
For the third quarter that ended June 30, 2024, POWL's revenues increased 49.8% year-over-year to $288.17 million. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 91.6% from the year-ago value to $81.74 million. The company's operating income of $57.29 million indicates growth of 165.8% year-over-year.
Furthermore, the company reported net income and EPS of $46.22 million and $3.79, reflecting increases of 150.5% and 149.3% from the prior year's quarter, respectively. Also, POWL's total assets stood at $868.98 million as of June 30, 2024, compared to $752.24 million as of September 30, 2023.
Favorable Analyst Estimates
Analysts expect POWL's revenue for the fourth quarter (ended September 2024) to come in at $286.49 million, indicating an increase of 37.3% year-over-year. The consensus EPS estimate of $3.55 for the same period reflects an 82.1% year-over-year improvement. Further, the company has maintained an impressive earning history, having topped the consensus revenue and EPS estimates in each trailing four quarters.
For the fiscal year 2024, the company's revenue and EPS are anticipated to grow 50.2% and 185.9% year-over-year to $1.05 billion and $11.78, respectively. In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 6% and 4.9% from the prior year to $1.11 billion and $12.36, respectively.
Robust Profitability
POWL's trailing-12-month EBIT margin and net income margin of 16.12% and 13.77% are 56.3% and 114.2% higher than the 10.31% and 6.43% industry average, respectively. Its trailing-12-month Levered FCF margin of 16.81% is significantly higher than the industry average of 6.66%.
Elevated Valuation
In terms of forward non-GAAP P/E, POWL is currently trading at 29.19x, 36.4% higher than the industry average of 21.40x. The stock's forward EV/Sales and Price/Sales of 3.57x and 3.92x are considerably higher than the industry average of 2.04x and 1.64x, respectively.
Additionally, the stock's forward EV/EBITDA and Price/Book of 20.42x and 8.75x are currently 63.2% and 167% higher than the industry averages of 12.51x and 3.28x, respectively.
POWR Ratings Reflect Uncertainty
POWL's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. POWL has an A grade for Quality, consistent with its higher-than-industry profitability.
However, the company's elevated valuation has earned it a C grade for Value.
POWL is ranked #42 among the 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry.
Beyond what I have stated above, we have also given POWL grades for Momentum, Sentiment, Stability, and Growth. Get access to all the POWL ratings <a href="https://stocknews.com/stock/POWL/">here</a>.
Bottom Line
POWL reported solid financial results in the last reported quarter. Further, the company's long-term growth opportunities are solid, driven by the increasing number of new orders, innovative products, and widening sector scope. However, it continues to grapple with elevated valuation, short-term uncertainties, and rigid competition from its peers like Fluence Energy, Inc. (<a href="https://stocknews.com/stock/FLNC/">FLNC</a>) and Nextracker, Inc. (<a href="https://stocknews.com/stock/NXT/">NXT</a>).
Given POWL's elevated valuation and near-term prospects, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Powell Industries, Inc. (POWL)
Given its near-term uncertain prospects, the odds of POWL outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry instead:
Smiths Group PLC (<a href="https://stocknews.com/stock/SMGZY/">SMGZY</a>)
Donaldson Company, Inc. (<a href="https://stocknews.com/stock/DCI/">DCI</a>)
Techtronic Industries Co. Ltd. ADR (<a href="https://stocknews.com/stock/TTNDY/">TTNDY</a>)
For exploring more A and B-rated industrial stocks, <a href="https://stocknews.com/category/industrial-machinery/">click here</a>.
What To Do Next?
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POWL shares were trading at $317.63 per share on Wednesday afternoon, down $26.23 (-7.63%). Year-to-date, POWL has gained 261.12%, versus a 26.92% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/powl-smgzy-dci-ttndy-flnc-nxt-should-you-watch-powell-industries-amidst-industrial-sector-growth/>Should You Watch Powell Industries Amidst Industrial Sector Growth?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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