Schaeffer's Trading Floor Blog

Biggest Movers: International, Ltd. (ADR), Rocket Fuel Inc, and Ubiquiti Networks Inc

CTRP, FUEL, and UBNT are moving sharply in Friday's trading

by 5/9/2014 3:05 PM
Stocks quoted in this article:

As we approach the final minutes of the trading day, three of the top movers are travel planning site International, Ltd. (ADR) (NASDAQ:CTRP), artificial intelligence developer Rocket Fuel Inc (NASDAQ:FUEL), and communications technology firm Ubiquiti Networks Inc (NASDAQ:UBNT). Here's a quick roundup of how this trio of names is performing on the charts this afternoon.

  • Despite receiving a price-target cut to $53.60 from $56.20 at UBS this morning, CTRP is up 9.1% to trade at $49.39, thanks to a halo lift from the solid public debut of sector peer Tuniu Corp (NASDAQ:TOUR). On a year-over-year basis, in fact, the shares have tacked on more than 50%. Nevertheless, traders on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been bearish in recent weeks. International, Ltd.'s (ADR) 10-day put/call volume ratio on those exchanges checks in at 0.69, higher than 78% of comparable readings from the last year. If CTRP continues to rally, it could force those bearish bettors to the exits, providing the shares with a lift.

  • FUEL is reeling today, down 28% at $20.01 after last night's weaker-than-expected current-quarter revenue forecast, as well as subsequent bearish brokerage notes from the likes of BMO, Evercore Partners, and Goldman Sachs. If that's not enough, the shares hit a record low of $19.31 earlier, and have underperformed the broader S&P 500 Index (SPX) by almost 50 percentage points in the past three months. Not surprisingly, bearish betting has picked up on Rocket Fuel Inc. Specifically, 30% of the equity's float is sold short, which would take a week to cover, at FUEL's average daily trading volume.

  • Finally, UBNT has shed more than 25% today to wink at the $30.82 level, thanks to last night's disappointing current-quarter profit estimate, which prompted a round of downgrades and price-target cuts on the Street. While the stock has still roughly doubled in value over the previous year, it's plummeted in 2014, down about 33%. If this recent trend continues, there's plenty of room for brokerage firms on Ubiquiti Networks Inc's bearish bandwagon. Of the nine analysts covering the stock, eight have doled out a "buy" or better rating; similarly, UBNT's consensus 12-month price target stands at a lofty $52.64.

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