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Mid Cap Stocks To Add to Your Watchlist - November 6th

ProShares UltraPro Short QQQ logo with background
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Key Points

  • Five mid-cap stocks flagged for unusually high trading volume were ProShares UltraPro Short QQQ (SQQQ), IREN, TeraWulf, DraftKings, and Applied Optoelectronics.
  • The companies span very different businesses: SQQQ is designed to deliver three times the inverse of the Nasdaq-100’s daily performance, IREN and TeraWulf mine bitcoin, DraftKings operates sports betting and gaming products, and Applied Optoelectronics makes fiber-optic networking equipment.
  • Several stocks show substantial volatility: IREN, TeraWulf, and Applied Optoelectronics have betas near or above 4, while the article notes that mid-cap stocks can offer growth potential but carry greater risk than large-cap stocks.
  • Five stocks we like better than ProShares UltraPro Short QQQ.

ProShares UltraPro Short QQQ, IREN, TeraWulf, DraftKings, and Applied Optoelectronics are the five Mid Cap stocks to watch today, according to MarketBeat's stock screener tool. Mid-cap stocks are shares of companies with medium-sized market values, typically between those of small-cap and large-cap companies; the exact size range varies by index or provider. Investors may view them as offering more growth potential than large-cap stocks, but they can also be more volatile and carry greater risk. These companies had the highest dollar trading volume of any Mid Cap stocks within the last several days.

ProShares UltraPro Short QQQ (SQQQ)

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market.

Shares of NASDAQ SQQQ traded down $2.58 during mid-day trading on Friday, reaching $46.97. The company had a trading volume of 66,327,556 shares, compared to its average volume of 55,972,980. The business's 50-day moving average is $37.33 and its 200-day moving average is $49.82. ProShares UltraPro Short QQQ has a 52 week low of $31.42 and a 52 week high of $90.71.

Read Our Latest Research Report on SQQQ

IREN (IREN)

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

NASDAQ IREN traded up $3.55 on Friday, hitting $21.58. The stock had a trading volume of 88,332,131 shares, compared to its average volume of 44,460,797. IREN has a 52-week low of $17.16 and a 52-week high of $70.71. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.55 and a quick ratio of 3.55. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of -9.15 and a beta of 4.33. The business's fifty day moving average price is $36.25 and its 200 day moving average price is $43.77.

Read Our Latest Research Report on IREN

TeraWulf (WULF)

WULF traded up $1.09 during trading on Friday, reaching $11.18. 83,689,477 shares of the company's stock were exchanged, compared to its average volume of 33,227,063. The stock has a market capitalization of $5.58 billion, a P/E ratio of -2.56 and a beta of 4.00. The company's fifty day simple moving average is $14.31 and its 200-day simple moving average is $17.96. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf has a 1 year low of $9.51 and a 1 year high of $29.84.

Read Our Latest Research Report on WULF

DraftKings (DKNG)

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.

Shares of NASDAQ:DKNG traded down $5.41 during midday trading on Friday, reaching $18.11. 49,366,835 shares of the company's stock traded hands, compared to its average volume of 13,677,625. The company has a fifty day simple moving average of $21.62 and a two-hundred day simple moving average of $24.13. DraftKings has a 1 year low of $16.55 and a 1 year high of $36.98. The company has a market cap of $8.99 billion, a P/E ratio of -47.79, a PEG ratio of 3.03 and a beta of 1.65. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.02 and a current ratio of 1.02.

Read Our Latest Research Report on DKNG

Applied Optoelectronics (AAOI)

Applied Optoelectronics, Inc. designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.

Shares of Applied Optoelectronics stock traded up $2.60 during mid-day trading on Friday, hitting $49.48. The stock had a trading volume of 17,286,562 shares, compared to its average volume of 10,608,525. The firm has a 50-day moving average of $94.22 and a two-hundred day moving average of $113.19. The company has a quick ratio of 2.13, a current ratio of 2.78 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.18 billion, a P/E ratio of -62.80 and a beta of 4.04. Applied Optoelectronics has a 12-month low of $18.50 and a 12-month high of $233.67.

Read Our Latest Research Report on AAOI

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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