Schaeffer's Trading Floor Blog

Stocks On the Move: Mobileye NV, Kandi Technologies Group Inc, and Trina Solar Limited (ADR)

MBLY, KNDI, and TSL are moving sharply in Tuesday's trading

by 8/26/2014 11:01 AM
Stocks quoted in this article:

U.S. stocks are solidly higher this morning, thanks to another dose of big merger news -- though a mixed batch of economic data is keeping the bulls in check. Among the names making notable moves are Wall Street newcomer Mobileye NV (NYSE:MBLY), electrical vehicle issue Kandi Technologies Group Inc (NASDAQ:KNDI), and alternative energy name Trina Solar Limited (ADR) (NYSE:TSL). Here's a quick look at how MBLY, KNDI, and TSL are faring on the charts today.

  • With the stock's post-IPO quiet period over, MBLY was absolutely bombarded today by a wave of bullish brokerage notes. No fewer than six brokerage firms started the equity at "buy," "outperform," or "overweight," with Morgan Stanley going so far as to call MBLY its new top pick. (Baird, meanwhile, issued a lukewarm "neutral" rating.) Following this flood of endorsements, shares of Mobileye NV have surged 4.8% to trade at $40.03. The stock is now within striking distance of its all-time peak of $41.50, which was set Aug. 4 -- just one session after its public trading debut.

  • KNDI is up 6.9% to $19.52, bouncing back from yesterday's 5.2% slump. Despite the day-to-day volatility, shares of Kandi Technologies Group Inc now boast a bullish year-to-date return of 65.6%. Short sellers aren't buying into KNDI's price action, though, with short interest rising 6.4% over the past two reporting periods -- and now accounting for 23.6% of the equity's float. Elsewhere, KNDI remains a prime target for options traders, as the stock's Schaeffer's Volatility Scorecard (SVS) stands at a towering 91. This high reading indicates the shares have tended to make more significant moves over the past year than what the options market has priced in, creating some attractive opportunities for premium buyers.

  • TSL has tumbled 7.3% to trade at $12.39, pressured by a softer-than-forecast second-quarter revenue number. Today's bearish gap has left TSL back on the south side of the $13 level, which could now resume its previous role as resistance. In the wake of the company's disappointing quarterly report, Trina Solar Limited (ADR) could be vulnerable to downgrades. Among the eight brokerage firms following TSL, no fewer than five maintain a "strong buy" rating.

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