Benzinga - Investors are on the hunt for undervalued, underfollowed and emerging stocks to spot opportunities. Retail traders have countless methods at their disposal to uncover new information. For some, this may be overwhelming.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks are of interest and whether they broach an area for the investor and casual reader to watch.
Here is a look at the Benzinga Stock Whisper Index for the week of Jan. 19, 2023.
Bed Bath & Beyond Inc (NASDAQ: BBBY): After being one of the trendier stocks in 2022, retailer Bed Bath & Beyond has seen interest pick up in its stock.
The company shared plans that it might close more stores as part of its restructuring process. Rumors of bankruptcy have also made shares highly volatile. Interest in the stock was high for the week using Benzinga’s proprietary data, which could signal more volatility ahead.
Related Link: Bed Bath & Beyond Surges Higher In This Key Trend, What's Going On?
Schlumberger NV (NYSE: SLB): As the world’s largest oilfield service operator, Schlumberger isn’t as small a company as the others on this list: the company has a market capitalization of $81 billion.
Oil stocks performed well in 2022 with Schlumberger shares up 55% over the last year. The war between Russia and Ukraine increased oil prices and put a heavier emphasis on finding oil stocks for investors.
Interest in Schlumberger placed it as one of the top stocks for the week and this comes ahead of the company’s latest quarterly earnings report on Friday, Jan. 20. The stock also saw analyst initiation and a Buy rating from Benchmark with a price target of $65.
DermTech Inc (NASDAQ: DMTK): A molecular diagnostic company, DermTech saw shares soar over the past month. The company recently reportedits melanoma test was recommended for coverage by Tricare.
Shares of DermTech trade at $4.16 at the time of writing versus a 52-week trading range of $1.55 to $16.33. Shares are up over 100% in the past month.
Direxion Small Cap Bull 3x Shares ETF (NYSE: TNA): The lone ETF on the list for the week is a leveraged fund that seeks to have results that are 300% of the performance of the Russell 2000 Index.
The Russel 2000 Index tracks 2,000 small cap companies in the U.S. and is considered a benchmark for many small cap mutual funds.
The ETF was among the top stocks for the week using Benzinga’s data, which could suggest investors are looking for ways to get increased exposure to small cap stocks for 2023. The ETF is down over 60% in the last year.
Ontrak Inc (NASDAQ: OTRK): Shares of artificial intelligence and telehealth company Ontrak increased this week on news of data from the company showing a reduction in depression and anxiety symptoms. The results showed 30% of members saw a reduction in anxiety and 55% saw a reduction in depression symptoms.
Shares of the stock are up over 100% in the last five days. The company has a market capitalization of around $30 million, making it one of the smaller stocks covered in the Stock Whisper Index. The company saw strong interest using Benzinga’s data and could be a stock to watch moving forward.
That’s it for this edition of the Benzinga Stock Whisper Index.
Click on the latest in the Benzinga Stock Whisper Index stocks to watch here:
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