WLL, VLO, AMBA Stocks Downgraded Today

Ambarella stock is in the red after a downgrade at Pacific Crest

by Karee Venema

Published on May 30, 2017 at 9:53 AM
Updated on May 30, 2017 at 9:56 AM

Analysts are weighing in on oil-and-gas stocks Whiting Petroleum Corp (NYSE:WLL) and Valero Energy Corporation (NYSE:VLO), as well as semiconductor concern and GoPro supplier Ambarella Inc (NASDAQ:AMBA). Here's a quick roundup of today's bearish brokerage notes on shares of WLL, VLO, and AMBA.

WLL Stock Downgraded to 'Sell'

Whiting Petroleum stock was downgraded to "sell" from "neutral" at Goldman Sachs, which also slashed its price target on the stock by 37% to $7.50 -- a discount to WLL stock's closing price of $7.97 on Friday. The security has kicked off a historically bad week for energy stocks down 5% to trade at $7.57, widening its year-to-date deficit to nearly 37%. Short sellers have been in control of WLL stock, too. Short interest surged 26% in the two most recent reporting periods, and now accounts for 15.2% of the equity's available float.

Morgan Stanley Downgrades VLO Stock

Valero Energy stock was downgraded to "equal weight" at Morgan Stanley, sending the shares down 2% to trade at $61.41. The shares have struggled since their Jan 3. annual high at $71.40, and surrendered a long-term perch atop their 200-day moving average last Friday.

VLO options traders have been betting on a bounce, though. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 1.23 ranks in the 72nd annual percentile. In other words, calls have been bought to open over puts at a faster-than-usual clip.

AMBA Stock Cut to 'Sector Weight' at Pacific Crest

Ambarella stock is down 6.7% at $60.71, after Pacific Crest Securities downgraded the shares to "sector weight" from "overweight." This negative price action is a change of pace for the shares, which dipped below $50 as recently as late April. AMBA options traders have been anticipating higher highs ahead of Ambarella's after-the-close June 6 earnings report. At the ISE, CBOE, and PHLX, AMBA's 10-day call/put volume ratio of 4.69 ranks just 6 percentage points from a 52-week peak.


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