Real Goods Solar stock has more than tripled in value today
U.S. stocks are trading higher again this afternoon, with the Dow eyeing a sixth straight winning win. Solar stock Real Goods Solar, Inc (NASDAQ:RGSE) and biotech stock Motif Bio (NASDAQ:MTFB) are soaring, while specialty retailer Office Depot Inc (NASDAQ:ODP) is in the gutter. Here's a quick look at what is moving shares of RGSE, MTFB, and ODP.
Real Goods Solar Stock More Than Triples After Licensing Deal
Real Goods Solar stock leads the Nasdaq today, up a whopping 268% to trade at $3.02 after the solar company entered an exclusive license agreement with Dow Chemical for its Powerhouse shingles system. Even with the rally today, RGSE stock has shed 55% year-to-date. In fact, going back one year, the shares were trading above $86.
Positive Late-Stage Results Boosting Motif Bio Stock
Motif Bio stock is up 16.6% to trade at $11.79, among the best on the Nasdaq today, after reporting positive late-stage trial results from its
bacterial infection drug iclaprim. Earlier today, the stock touched a record high of $13.75, which represents a 149% jump since it opened for trade at $5.52 back in mid-November.
While MTFB stock has outperformed the S&P 500 Index (SPX) by over 27 percentage points during the past three months, a short-term breather may be looming. The security sports a 14-day Relative Strength Index (RSI) of 83, firmly in overbought territory. Still, H.C. Wainwright sees plenty more upside, as the brokerage firm this morning raised its price target to $32 from $25.
Lowered Guidance Cripples Office Depot Stock
Office Depot stock is down 16% to trade at $3.85, among the worst on the Nasdaq and earning a spot on the short-sale restricted list. The office retailer lowered its full-year guidance, while also announcing plans to buy CompuCom Systems for $1 billion dollars. The drop today has ODP stock on pace for its lowest close since November.
Meanwhile, Telsey Advisory Group dropped its price target to $5 from $5.50, while Deutsche Bank lowered its price target to $4.50 from $5. Short sellers are likely cheering ODP's demise. Short interest has grown by 5% during the last reporting period to 15.13 million shares, its highest level since mid-June.