Sticking With This Alto Ingredients Price Target as Breakout Develops
Readers should take note of some action in the stock chart for this small-cap name.
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Is portfolio holding Alto Ingredients (ALTO) breaking out? Maybe. Check this out:
Readers should note that, despite the fact that ALTO had developed a double-top pattern of bearish reversal from early April into June, that the downside pivot was never triggered. Now, the shares have retaken both their 50-day SMA and 21-day EMA. This gets professional participation and the swing crowd on the same side of the football.
Relative strength is improving and all three components of the daily MACD are now sending short- to medium-term bullish signals. The portfolio now reiterates its $8 target price, but with an upside bias. The upside pivot remains the $6 early May high.
Other Portfolio News
Ocular Therapeutix (OCUL)
On Wednesday, analysts at William Blair removed Ocular Therapeutix, along with 27 other stocks from the firm’s “conviction list.” Well-known names also being removed include Chewy (CHWY), Meta Platforms (META) and Roku (ROKU). At William Blair, OCUL is covered by Lachlan Hanbury who is rated at two stars by TipRanks. Over the past two years, he has had a 43% success rate, and generated an average return of 1.9%.
Planet Labs (PL)
On Wednesday morning, analyst Dan Ives of Wedbush reiterated his “buy” rating on PL along with his $50 target price. Ives is rated at five stars out of five by TipRanks. Over the past two years, he has had a 57% success rate and generated an average return of 26.3%.
SoFi Technologies (SOFI)
On Tuesday, SoFi Technologies announced the launch of the new product, SoFi Small Business Loans, to help entrepreneurs access fast, transparent financing. SoFi Small Business Loans would provide eligible business owners with fixed business loans of up to $250,000 to help with the purchase of equipment and inventory or to increase staffing. Members can check eligibility in minutes and, if approved, access funding as soon as 24 hours after said approval.
Velo3d (VELO)
On Tuesday, Velo3D announced what will be a major expansion of its manufacturing operations with a new 288,747-square-foot advanced manufacturing facility in Livermore, California. The new campus is expected to become operational later this year and will ultimately serve as Velo3D’s primary production and manufacturing center. This facility will complement the firm’s Fremont headquarters, which will remain the hub for R&D, applications engineering, process development and customer collaboration. The need for this facility reflects the growing demand for what Velo3D provides.
Tuesday’s Intention vs Tuesday’s Actual Trade
Purchase 10 shares of (SWBI) at or close to the last sale of $15.40
Bought 10 shares of SWBI at $14.97
Wednesday’s Intentions
Purchase 5 shares of VELO at or close to the last sale of $17.61
Current Positions
Long 150 shares of ALTO at $5.51. Target price: $8. Last sale: $5.69.
Long 70 shares of EVLV at $5.8746. Target price: $8.50. Last sale: $5.90.
Long 200 shares of OCUL at $8.271. Target Price: $11. Last sale: $9.82.
Short one OCUL $11 September 18 call at $1.65. Last sale: $1.41.
Short one OCUL $9 July 17 call at $0.90. Last sale: $1.25.
Long 225 shares of ONDS at $9.1284. Target price: $14. Last sale: $8.26.
Long 30 shares of PL at $30.6067. Target price: $46. Last sale: $33.03.
Long 5 shares of (RKLB) at $89.162. Target price: $131. Last sale: $100.01.
Long 35 shares of (RXT) at $6.4529. Target price: $9. Last sale: $6.50.
Long 175 shares of (SIDU) at $3.0342. Target price: $6. Last sale: $2.80.
Long 135 shares of SOFI at $15.8617. Target price: $24. Last sale: $17.97.
Short one SOFI August 21 $20 call at $1.02. Last sale: $1.06.
Long 30 shares of SWBI at $15.74. Target price: $19. Last sale: $15.03.
Long 45 shares of VELO at $13.2602. No target price right now. Last sale: $17.61.
Cash: $782.73.
Portfolio Value: $11,383.91, +13.8% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, EVLV, OCUL, ONDS, PL, RKLB, RXT, SIDU, SOFI, SWBI and VELO.
