Best Stocks To Short Today As S&P 500 Briefly Surpasses Peak

148 days after seeing the low on March 23, 2020, the markets once again surpassed a prior peak with the S&P 500 breaking its all-time high intraday this morning. But it didn’t last long. Almost as soon as it broke it, selling pressure abounded and now the markets are trading slightly lower on the morning, despite impressive earnings beats by Walmart and Home Depot. It may be the talking heads in Washington holding back the market right now, with Treasury Secretary Mnuchin saying Democrats are unwilling to strike a ‘reasonable’ relief deal, or maybe the market has just gone too far to the upside, too quickly. U.S. housing starts did come in better than expected this morning at 1.496 million, versus estimates of 1.24 million. Still, if you are looking to hedge your portfolio or want some stocks to short, our deep learning algorithms paired with Artificial Intelligence (“AI”) technology have you covered with the Top Shorts today.

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Axon Enterprise Inc (AAXN)

First on the Top Short list is Axon Enterprise Inc with AI-based factor scores of D in Technical, D in Growth, D in Momentum Volatility, and D in Quality Value. The stock has recovered losses this year and now sits at a year-to-date gain of 4.0%. The company is in the development, manufacture, and sale of Conducted Energy Weapons designed for use by law enforcement, corrections, military forces, private security personnel and by private individuals for personal defense. As for the financials, Revenue grew by 11.35% in the last fiscal year to $530.86M, a growth of 71.93% over the last three fiscal years from $343.8M three years ago. Operating Income was $(4.39)M in the last fiscal year, which compares to $14.02M three years ago. EPS was $0.01 in the last fiscal year, a tenth of the $0.1 three years ago. ROE was 0.17% in the last year, versus 3.27% three years ago. Forward 12M Revenue is expected to grow by 8.05% and the stock is trading with a forward 12M P/E of 68.29.

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MORE FROM FORBESAxon Enterprise (AAXN)

Hess Corp (HES)

Next on the Top Short list today is Hess Corp with AI-based factor scores of C in Technical, C in Growth, F in Momentum Volatility, and F in Quality Value. The company is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2019, they reported net proved reserves of 1.2 billion barrels of oil equivalent. The stock has been under pressure this year, already down 22.52%, but our deep learning algorithms thinks momentum will continue to the downside. Operating Income shrank by -89.72% over the last three fiscal years to $576.0M in the last fiscal, compared to $(2849.0)M three years ago. EPS shrank by -19.98% over the last three fiscal years to $(1.37) in the last fiscal, compared to $(13.12) three years ago. Revenue was $6311.0M in the last fiscal year, which compares to $5347.0M three years ago. ROE was (2.33%) in the last year, much better than the (28.21%) three years ago but still negative. Forward 12M Revenue is expected to grow by only 2.78%.

MORE FROM FORBESHess (HES)

HollyFrontier Corp (HFC)

Another company that has struggled this year and makes the Top Short list, as the stock has lost 48.43%, is HollyFrontier Corp. Our AI systems have identified factor scores of D in Technical, F in Growth, D in Momentum Volatility, and C in Quality Value. The company is an independent petroleum refiner that owns and operates five refineries serving the Rockies, midcontinent, and Southwest, with a total crude oil throughput capacity of 510,000 barrels per day. As for the financials, revenue grew by 0.13% over the last three fiscal years to $17486.58M in the last fiscal, which compares to $14251.3M three years ago. Operating Income was $1457.33M in the last fiscal year, versus $950.18M three years ago. EPS was $4.61 in the last fiscal year, about flat when compared to $4.52 three years ago. ROE was 13.45% in the last year, lower than the 15.74% three years ago. Forward 12M Revenue is expected to grow by 2.11%.

MORE FROM FORBESHollyFrontier (HFC)

Ii-Vi Inc (IIVI)

The Top Short list has a newcomer today with Ii-Vi Inc being named one of them this morning. The stock has done extremely well but has pulled back as of late, now sporting a 30.83% gain for the year. Our AI systems have identified factor scores of D in Technical, D in Growth, D in Momentum Volatility, and D in Quality Value. The company manufactures engineered materials, optoelectronic components and products used in industrial, optical communications, military, semiconductor, consumer, and life science applications. Looking at the financials, revenue was $2380.07M in the last fiscal year, which compares to $1158.79M three years ago. Operating Income was $199.38M in the last fiscal year versus $140.46M three years ago. EPS was $(0.79) in the last fiscal year, much worse than the $1.35 in EPS from three years ago. ROE was (4.18%) in the last year, compared to 9.14% three years ago. The stock is currently trading with a forward 12M P/E of 17.56.

MORE FROM FORBESII-VI (IIVI)

Marathon Petroleum Corp (MPC)

And finally, our last Top Short today is a repeated company on this column in Marathon Petroleum Corp. The company is an independent refiner with 16 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Our AI systems have identified factor scores of C in Technical, F in Growth, D in Momentum Volatility, and D in Quality Value for the stock that has already lost 37.57% for the year. Revenue grew by 36.76% over the last three fiscal years to $124,112.0M in the last fiscal year, which compares to $75,053.0M three years ago. Operating Income was $6,069.0M in the last fiscal year, versus $3653.0M three years ago. EPS was $3.97 in the last fiscal year, lower than the $6.7 three years ago. ROE was 7.38% in the last year, less than half of the 17.68% three years ago. Forward 12M Revenue is expected to grow by 10.25%.

MORE FROM FORBESMarathon Petroleum (MPC)

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