‘Snap’ To It: My Trade Plan for Today
Let’s catch up on these stocks I’m trading and watching — and lots of ratings.
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Recent Portfolio News
With earnings from four of our stocks to cover last week and my recent days off, it’s time to catch up on the portfolio news flow. And then, we’ll get to my intentions and actions on Snap (SNAP):
Mobileye Global Rating: On Monday, analyst Vanessa Jeffriess of Jefferies initiated Mobileye Global (MBLY) with a “Sell”-equivalent rating and an $8 target price. Jeffriess is rated at four stars out of five at TipRanks. Over the past two years, she has a 58% success rate with an average return of 9.5%.
Ondas Acquisition: Ondas (ONDS) on Monday revealed it entered into a definitive agreement to buy 100% of Omnisys. This move marks a significant step forward in Ondas’ evolution into a software-driven defense industry contractor. The Omnisys “BRO” platform will be expected to serve as a core orchestration layer across the Ondas autonomous systems portfolio. This will, according to Ondas help with “enabling mission planning, operational coordination, and real-time battlefield resource optimization across sensors, autonomous systems, and defense assets operating within complex mission environments.”
Also, last Wednesday, analyst Jonathan Siegmann of Stifel Nicolaus reiterated a “Buy” rating on ONDS along with an $18 target price. Siegmann is rated at three stars out of five at TipRanks. Over the past two years, he has a 34% success rate with an average return of -2%.
Finally, this morning, analyst Austin Bohlig of Needham reiterated a buy rating on ONDS along with a $23 target price. Bohlig is rated at three stars out of five at TipRanks. Over the past two years, he has a 39% success rate with an average return of 0.6%.
Planet Labs Takes Off: Planet Labs (PL) released last Thursday the first light images from its latest Pelican launch. This included the Swedish military’s first sovereign satellite to date. The company also launched three Pelican spacecraft to orbit aboard the CAS500-2 rideshare mission with SpaceX from Vandenberg Space Force Base in California on May 3. Will Marshall, co-founder and CEO of Planet Labs, said, “As we continue to scale the Pelican constellation, we’re showing how Planet can move quickly to help our partners around the world achieve sovereign, AI-enabled space capabilities.”
Additionally, on Thursday, analyst Dan Ives of Wedbush reiterated a buy rating on PL while increasing his target price from $40 to $50. Ives is rated at five stars out of five at TipRanks. Over the past two years, he has a 54% success rate with an average return of 15.4%.
Palantir Technologies Rating: Analyst Arvind Ramnani of Truist Financial today reiterated a “Buy” rating on PLTR (PLTR) without setting a target price. Ramnani is rated at one star out of five at TipRanks. Over the past two years, he has a 46% success rate with an average return of -2.3%.
Rocket Rating: Analyst Michael Leshock of KeyBanc has reiterated a “Hold” rating on RKLB (RKLB) without setting a target price. Leshock is rated at five stars out of five at TipRanks. Over the past two years, he has a 66% success rate with an average return of 61.4%.
Snap ‘Hold’: On Monday, analyst Ronald Josey of Citigroup was assigned coverage of Snap (SNAP). Josey rated the stock a “Hold” while cutting his firm’s target price from $7 to $6.50. Josey is rated at four stars out of five at TipRanks. Over the past two years, he has a 50% success rate with an average return of 3.1%.
Velo3D Share Sale: On Thursday, news broke that Velo3D (VELO) had filed a registration statement for a potential sale of up to three million shares of common stock by a selling stockholder. The stock sold off late last week in response.
Upcoming Portfolio Earnings
Planet Labs: After the closing bell on Thursday, June 4th.
Monday’s Intention Vs. Monday’s Actual Trade: Snap
Buy one SNAP June 26th $7 call for $0.10 or less to close out that position.
Bought one SNAP June 26th $7 call for $0.08.
Tuesday’s Intentions: More Snap
Now that the SNAP call that we were short has been covered for a profit, the portfolio is adding to its long position in SNAP, while selling longer-dated (with actual premium) covered calls against the equity position:
Buy 100 shares of SNAP at or close to the last sale of $5.61.
Sell (write) two SNAP Oct. 16 $6 calls for $0.85 a piece or more.
Current Positions
Long 60 shares of (EVLV) at $5.9895. Target Price: $8.50. Last sale: $5.61.
Long 25 shares of (MBLY) at $8.92. Last sale: $9.23. Long 150 shares of OCUL at $8.305. Last sale: $8.38.
Short one (OCUL) $11 Sept. 18 call at $1.65, Last sale: $1.20.
Long 125 shares of (ONDS) at $9.4749. Target Price: $14. Last sale: $9.81.
Long 10 shares of PL at $37.18. Target Price $47. Last sale: $40.85.
Long 12 shares of PLTR at $140.30. Target Price: $194. Last sale: $134.88.
Long 7 shares of RKLB at $62.6157. Target Price: $132. Last sale: $127.70.
Long 125 shares of (SIDU) at $2.725. Target Price: $6. Last sale: $3.73.
Long 100 shares of SNAP at $5.9034. Target Price: $7.50. Last sale: $5.61.
Long 175 shares of (SOFI) at $15.9573. Target Price: $24. Last sale: $15.62.
Short one SOFI Aug. 21 $20 call at $1.02. Last sale: $0.78.
Long 45 shares of (VELO) at $12.0136. Target Price: $20. Last sale: $18.40.
Cash: $1,088.40
Portfolio Value: $11,487,41, +14.9% from inception on March 24.
