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The energy sector is under pressure, but some stocks within the space are poised for an upside breakout. These names are cheap, are expected to rise more than 10% to their average price targets and are trading below where they have been historically. Upside to average price target of more than 10%. The U.S-listed shares, which are trading 5% below their 200-day moving average, have a forward price-to-earnings ratio of 8.6. It's set to surge 26% to its average price target and is trading at a forward P/E of just 7.6.

Persons: Baker Hughes, It's, Bank of America's Christopher Kuplent, Kuplent, underperformed, Murray Auchincloss, Auchincloss, Bernard Looney Organizations: Energy, APA, CNBC, Equinor ASA, Bank of America's, BP Locations: China, Norwegian, U.S, 2Q23

CNBC Pro reviewed FactSet data to see how the major indexes fared 12 months after the final rate hike in prior cycles. In fact, as Hooper observed, the S & P 500 saw double-digit returns following the last increase in five out of the last six rate-hiking cycles. After the final rate hike in June 2006, the S & P 500 gained 18% in the following 12 months, in the runup to the Global Financial Crisis. The S & P 500 lost 12%, while the Nasdaq Composite plunged 41%. The Dow alone came out in positive territory 12 months out.

Persons: Invesco's Kristina Hooper, CNBC's, it's, Hooper, Russell, Dow, Invesco's Hooper Organizations: CNBC Pro, Nasdaq, CNBC, Dow Jones Industrial, Global

As of March 15, short interest against Tattooed Chef rose nearly 4% to 17.1 million shares, which is about 35% of the total float, according to FactSet data. The percentage of float refers to the number of shares that are sold short divided by the the total number of shares available for trading. Short interest in another plant-based food company, Beyond Meat, remained elevated even after falling slightly by 2.5% to around 21 million shares. Other companies that saw a surge in short interest this month include a number of biotech companies. In the first half of March, investors increased their bets against Allogene Therapeutics by about 8% to 39.8 million shares, or about half its total float.

Investors raised bets against Beauty Health Company , owner of the skincare brand HydraFacial, in the first half of November. Short interest as a percentage of float refers to the amount of shares available for trading that are being bet against the company. Shares of Beauty Health underperformed in 2022, down more than 50% this year, while the S & P 500 declined about 17% over the same time period. Beauty Health has made a number of infrastructure investments as it expands its business globally. Short interest data is updated twice a month and reported mid-month and at the end of the month.

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