Schaeffer's Trading Floor Blog

Stocks On the Move: Digital Ally, Inc., GrubHub Inc, and Qihoo 360 Technology Co Ltd

DGLY, GRUB, and QIHU are moving sharply in Monday's trading

by 8/25/2014 1:44 PM
Stocks quoted in this article:

U.S. stocks have retreated from their early highs -- which featured a brief, first-ever move above 2,000 for the S&P 500 Index (SPX) -- but M&A enthusiasm still has the major equity indexes on positive ground this afternoon. Among the names making notable moves are surveillance specialist Digital Ally, Inc. (NASDAQ:DGLY), food delivery firm GrubHub Inc (NYSE:GRUB), and anti-virus issue Qihoo 360 Technology Co Ltd (NYSE:QIHU). Here's a quick look at how DGLY, GRUB, and QIHU are faring on the charts today.

  • Shares of DGLY have spiked more than 59% today to trade at $12.64, bringing the stock back into positive territory on a year-to-date basis (by more than 37%). Digital Ally, Inc. is a maker of wearable body cameras, and -- like its sector peer TASER International, Inc. (NASDAQ:TASR) -- the stock has experienced a surge of interest following the tragic events in Ferguson, Missouri. It's a rare bit of attention for DGLY, which typically flies under Wall Street's radar. The stock isn't even optionable, and there's not a single analyst rating on the name. However, bears have placed a few bets on DGLY, as 11.2% of the equity's float is dedicated to short interest.

  • GRUB has plummeted 7.6% to trade at $39.53, after the company unveiled plans to sell 10 million shares in a follow-on public offering. Today's steep pullback appears to have bottomed out in the $38-$39 area -- which previously marked a few tops for GrubHub Inc shares, but may now be emerging as support. Most analysts have high hopes for the Wall Street newcomer, which just made its public trading debut back in April. Among the four brokerage firms following GRUB, all of them maintain "buy" or better ratings.

  • QIHU has tanked 9.1% to $92.59, with traders unimpressed by last night's second-quarter earnings report -- which revealed shrinking margins for the Beijing-based tech firm. Analysts at Barclays brushed off the troubling news, upping their price target to $145 from $139. Most brokerage firms have slightly lower expectations for Qihoo 360 Technology Co Ltd, which sports an average 12-month price target of $134.78. However, with nine analysts out of 10 holding a "strong buy" rating on QIHU, the stock could be vulnerable to downgrades if the post-earnings sell-off persists.

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