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FOCUS LIST🔎
GIFI – Up over 25% in pre after beating earnings estimates
PRCH – Up over 20% in pre after 79% YoY revenue growth in Q4
RIVN – Closed up over 13% yesterday on news it’s pausing new Georgia factory, offering new R2 and R3 vehicle models
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HOTLIST🔥
GIFI – Up over 25% in pre after beating earnings estimates
Gulf Island Fabrication, Inc. (GIFI) together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions.
In the after-hours yesterday, the company reported Q4 consolidated revenue of $44.6 million vs $38.1 million a year prior. Net Income for Q4 came in at $7.1million vs $0.5 million year over year.
The big earnings beat reported yesterday saw the stock trade up over 25% in the pre-market.
The $6.40 area has acted as support so far in the pre-market and will be an important level to watch.
Above it, targets to the upside are $6.60, $7 and then the pre-market high at $7.21. Beyond that, $7.50, $8.50, $9.50 and $10.40 come into play.
Below $6.40, targets to the downside are $6, $5.80, $5.50 and then a gap to fill at $5.18.
PRCH – Up over 20% in pre after 79% YoY revenue growth in Q4
Porch Group, Inc. (PRCH) operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance.
In the after-hours yesterday the company reported Q4 revenue of $114.6 million, which increased 79% compared to the prior year. Q4 GAAP net loss was $2.5 million vs $35.5 million GAAP net loss a year prior.
The stock traded up over 20% in pre-market in reaction to the earnings report.
The $3.65 area has acted as support in the after-hours and pre-market and will be an important level to watch.
Above it, targets to the upside are $3.80, $3.90 and then the pre-market high at $4.03. Beyond that, $5, $6 and $7.50 come into play.
Below $3.65, targets to the downside are $3.60, $3.40, $3.30 and then a gap to fill at $3.11.
RIVN – Closed up over 13% yesterday on news it’s pausing new Georgia factory, offering new R2 and R3 vehicle models
Rivian Automotive, Inc. (RIVN) together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. During yesterday’s trade, RIVN announced that it’s pausing plans to build a new factory in Georgia and would be offering new R2 and R3 vehicle models with production of the R2 shifting to its existing facility in Illinois.
The decision is aimed cutting costs while the company prepares to launch a cheaper electric vehicle, the R2 as its R1 model is currently sold at a loss.
Investors cheered the news, as RIVN closed yesterday up over 13% and is gapping slightly higher so far this morning.
$12.74 was yesterday’s intraday high and will be an important level to watch.
Above it, the first target for bulls is the pre-market high at $12.98. Beyond that $14 and $15 come into play, then there is a gap to fill at $15.39.
Below $12.74, targets to the downside are $12.55, $12.40, $12.20, $12, $11.85, $11.70, $11.40, then $11.05.
MARKET NEWS 📰
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