SHOP, HL, and MDXG stocks are making notable moves on the charts today
Despite a midday push, the Dow has turned sharply lower in afternoon trading, after the U.S. bombing in Afghanistan. Among specific equities on the move this afternoon are e-commerce specialist Shopify Inc (US) (NYSE:SHOP), mining stock Hecla Mining Company (NYSE:HL), and regenerative tissue expert MiMedx Group Inc (NASDAQ:MDXG). Here's a quick look at what's moving shares of SHOP, HL, and MDXG.
Shopify Stock Outperforms After Bull Note
SHOP stock is continuing its push up the charts today, adding 1.8% at $70.51, following a huge price-target hike to $100 from $70 at CIBC. This is well above the shares' record high of $73 from March 28, though Shopify Inc has been gaining fast on the charts, easily doubling in value during the past 52 weeks. Seven analysts still say SHOP stock is just a "hold," and the shares are now trading above their average 12-month price target of $69.46, so there's potential for even more bullish brokerage attention to come through.
Hecla Mining Stock Burns Shorts
HL shares are getting a lift today as commodity stocks rally, last seen 7.7% higher at $6.08. Shares of Hecla Mining Company have now added almost 32% since bottoming at a near-term low of $4.61 one month ago, yet short interest continues to rise. Specifically, short interest on HL stock increased by 18.5% over the past two reporting periods.
MiMedx Revenue Beat Boosts Shares
MDXG is up 7.9% at $10.68, after the company posted better-than-expected first-quarter revenue. Needham raised its price target to $15 from $12 in response, representing all-time-high territory. MiMedx Group Inc shares now boast a 20.5% year-to-date lead, and could continue to climb if short sellers start throwing in the towel. These bears currently control a whopping 29% of MDXG's float, which would take almost two months to buy back, based on the stock's average pace of trading.