The China-Based Stock That's More Than Doubled Today

DE hit a fresh record high out of the gate this morning after an earnings beat

Managing Editor
Nov 22, 2017 at 10:06 AM
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U.S. stocks are trading close to breakeven in low-volume, pre-holiday action. Three stocks making moves today are e-commerce solutions company Baozun Inc (NASDAQ:BZUN), farming machinery concern Deere & Company (NYSE:DE), and Chinese machinery company Cleantech Solutions International Inc (NASDAQ:CLNT). Here's a closer look at what's moving shares of BZUN, DE, and CLNT.

BZUN Falls After Third-Quarter Results

Baozun stock is down 7.7% to trade at $32.79, after the company late Tuesday reported third-quarter earnings and offered a fourth-quarter revenue forecast. The stock is now trading roughly 20% below its mid-September intraday high north of $40, but has managed to maintain a nearly 172% year-to-date gain.

Short interest on BZUN dropped 8.6% during the past two reporting periods, but still accounts for a sizable 25% of the stock's total available float. With the stock at risk of closing back below recent resistance at its 80-day moving average, these bears are likely cheering Baozun's negative earnings reaction.

Deere & Company Stock Hits All-Time High

Shares of DE are up 2.4% at $142.68-- and hit a fresh record high of $146 out of the gate -- after the company reported a fiscal fourth-quarter earnings beat and a positive 2018 forecast. Deere & Company stock is now up 38.5% on the year.

Options traders were upbeat ahead of DE's quarterly report. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows DE with a 10-day call/put volume ratio of 1.46, which ranks in the 74th percentile of its annual  range. This suggests calls were bought to open over puts at a faster-than-usual clip during the past two weeks.

Cleantech Stock Soars on Share Swap

CLNT stock is up a whopping 106.7% to trade at $9.20, after the company announced a conditional share swap agreement with Marvel Finance to acquire a 51% stake in Integrated Media Technology. Today's bull gap has pushed Cleantech stock up 248% on the year.

Short interest on CLNT rose 25% during the past two reporting periods, and now represents 17.5% of the stock's total available float. Given this backdrop, some of today's gains could be the result of short-covering activity among some of the weaker bearish hands.

 

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