Analysts are weighing in on e-commerce concern Amazon.com, Inc. (NASDAQ:AMZN), renewable energy issue SolarCity Corp (NASDAQ:SCTY), and online review firm Yelp Inc (NYSE:YELP). Here's a quick roundup of today's bullish brokerage notes on AMZN, SCTY, and YELP.
- SCTY is headed for a 5.1% gain, after Morgan Stanley upped its opinion to "overweight." The stock has given up nearly 26% in August, pressured by its 10-day moving average, and just touched an annual low of $34.65 on Monday. As such, it's not surprising to see short-term option traders loaded up on puts; the equity's Schaeffer's put/call open interest ratio (SOIR) sits at an annual high of 1.90. Echoing that, short interest accounts for a whopping 52% of SolarCity Corp's total available float. SCTY ended at $43.05 yesterday.
- YELP is poised for a 3% pop out of the gate, after the beleaguered stock was upgraded to "neutral" from "sell" at B. Riley. The brokerage firm cited signs of improvement in traffic, though it doesn't "think that YELP is out of the woods." The stock has surrendered 57.3% in 2015, and just touched a two-year low of $20.50 earlier this week, before settling yesterday at $23.38. Despite the stock's struggles, option traders have picked up calls over puts at a rapid-fire rate. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Yelp Inc's 10-day call/put volume ratio of 4.49 sits in the 89th percentile of its annual range. An unwinding of optimism in the options pits could pressure the shares lower.
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