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☆ Three stocks to play the booming energy needs of AI data centers, according to BTIG
▼ + stars: | 2024-06-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

"Speed to market for some data centers matters," the analysts told clients in a Thursday research note. This should provide opportunities for companies that can provide on-site solutions that allow data centers to skip the interconnection line, they said. BTIG recommends Bloom Energy , Core Scientific and FTAI Infrastructure as ways to play the power shortage theme. Bloom can provide energy through on-site fuel cells that run on natural gas or hydrogen. Core Scientific is a Bitcoin miner that is diversifying into data centers.

Persons: Gregory Lewis, BTIG, FTAI Organizations: Bloom Energy, Core, FTAI, Intel Locations: California

☆ This Nvidia derivative play can more than double from current prices, Benchmark says
▼ + stars: | 2024-03-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

One derivative play on Nvidia is a buying opportunity that can more than double from current prices, according to Benchmark. Analyst Mark Palmer initiated coverage of Bitdeer Technologies with a buy rating in a report out Thursday. That view is driven in part by a key partnership with Nvidia that will help Bitdeer expand into artificial intelligence. In November, Bitdeer announced it will be a preferred cloud service provider for Nvidia 's partner network. But Benchmark's $13 price target implies the stock could nearly double from Wednesday's closing price of $6.74 per share.

Persons: Mark Palmer, Palmer, Bitdeer, BTIG's Gregory Lewis, — CNBC's Michael Bloom Organizations: Nvidia, Bitdeer Technologies Locations: Singapore, U.S, Norway, Bhutan

☆ Stocks making the biggest moves midday: Instacart, Spirit Airlines, Marathon Digital and more
▼ + stars: | 2024-01-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.

Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, —, Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China

Early analyst calls on Wednesday included a downgrade to a legacy automaker and a rerating for a crypto mining stock that won big last year. "As we have parsed through our numbers, we think the road to recovery will be tougher for SEDG from the perspectives of top line, gross margins, and market share," analyst Christine Cho said. Morgan Stanley stock has slipped nearly 8% this year. The firm downgraded Ford to neutral from buy in a Tuesday note and reiterated a $12 per share price target. Ford shares have struggled this year, losing 6%.

Persons: BTIG, Wall, Joseph Spak, Spak, — Brian Evans, Barclays downgrades SolarEdge, Christine Cho, Cho, SolarEdge, JPMorgan downgrades Morgan Stanley, Morgan Stanley, Ted Pick, Kian Abouhossein, UBS downgrades Ford, Ford, Jim Farley's, Gregory Lewis, Lewis, MARA 1Y, MARA, Fred Imbert Organizations: CNBC, UBS, Ford Motor, Barclays downgrades, Barclays, SolarEdge, Enphase Energy, JPMorgan, Ford, U.S, General Motors, Crypto, Marathon, Marathon Digital, BTC Locations: U.S, Tuesday's

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 14 (Reuters) - Bitcoin miners are making hay while the sun shines. "You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin. "It's too early to say if all bitcoin miners are out of the wood," said Ludovic Thomas, portfolio manager at Swiss-based Criptonite Asset Management that invests in digital assets.

Persons: Benoit Tessier, Gregory Lewis, Bitcoin's, Morgan, William Szamosszegi, Matteo Greco, It's, Ludovic Thomas, Medha Singh, Lisa Mattackal, Vidya Ranganathan Organizations: La Maison du, REUTERS, U.S, Fineqia, Central, Swiss, Management, Thomson, Reuters Locations: La, Paris, France, J.P, Bengaluru

Friday's early calls include an upgrade to a restaurant software stock and a big downgrade to a solar name. The bank downgraded Unity stock to neutral from outperform, also slashing its target price to $20 from $55. Analyst Doug Anmuth's updated price target of $510 could mean that there's still 17% room for the stock to go. Analyst Jonathan Block's price target of $70 signifies a 13% upside from the stock's Thursday closing price of $62.16. Koning has a price target of $18 per share, implying upside of nearly 30% over the next 12 months.

Persons: Baird, Tim Nollen, Lisa Kailai Han, Carlo Santarelli, — Lisa Kailai Han, JPMorgan downgrades, Drew Chamberlain, Doug Anmuth's, Anmuth, NFLX, Henry Schein, Jonathan, Freyr, BTIG, Gregory Lewis, FREY, Lewis, Stephens, Joshua Long . Long, Long, Portillo's, Mgmt, Chris Dendrinos, Dendrinos, Baird Baird, David Koning, Koning, — Fred Imbert, Julien Dumoulin, Smith, Fred Imbert Organizations: CNBC, Bank of America, Macquarie, Unity, Wynn Resorts, Deutsche Bank, JPMorgan, JPMorgan downgrades Enviva, Netflix, FR, European Union, RBC Capital, FTC Solar Bank of America, FTC Solar, FTC Locations: Macquarie, Unity, UAE, Boston, Norway, Portillo's, Thursday's

☆ Nikola tumbles to record low on $100 million stock sale
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Shares of Nikola Corp (NKLA.O) hit a record low on Friday after the electric-truck maker said it plans to sell shares and raise $100 million, amid high production costs. Nikola said late Thursday it will sell about 29.9 million shares in public offering and 59.4 million shares to hedge fund Antara Capital L.P., an existing holder of the company's convertible bonds. Nikola fell to $1.15 per share after offering shares to raise capital"Despite the $100 million cash injection, management still has a lot of work to do to balance cash burn against its existing cash," said BTIG analyst Gregory Lewis, and downgraded the stock to "neutral" from "buy". The company said it has $123 million in cash and $85 million in restricted cash as of March 28. Last year, the company had said it might sell shares to raise up to $400 million.

FactSet data showed short interest in Nikola increased by 12% to 97.4 million shares. Short interest in Carvana also rose by 10% to 34.6 million shares, or about 36% of the overall float. Investors also mounted bets against Wayfair , with short interest rising 14% to 21.2 million shares. Short interest data is updated twice a month and reported mid-month and at the end of the month. The next release date is Nov. 9 for short interest data as of Oct. 31).

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