Apple, Amazon and Tesla did not end the year with new 52-week highs. These most actively traded NYSE stocks hit highs earlier in December and then their prices began fading away again.
On the other hand, a few Nasdaq stocks, not so widely followed, managed to make it up to new highs during the final session of the year.
5 Nasdaq Stocks That Hit New Highs At Year End
Ares Capital (Nasdaq: ARCC)
The stock traded at the high of the year early in today’s session and then fell back a bit as sellers showed up. It’s bullish that the 50-day and the 200-day moving averages trend upward.
Ares Capital is an asset management firm with a market capitalization of $14.09 billion. It trades with a price-earnings ratio of 8.42 and at 1.11 times its book value. The stock pays a dividend of 8.77%. Wells Fargo analysts this month upgraded Ares from “equal weight” to “overweight.”
CyberArk Software (Nasdaq: CYBR)
The stock on the last day of 2024 hits a new high, above the November peak, and it comes on relatively heavy buying volume. The price remains above both up-trending 50-day and 200-day moving averages.
The Israel-based software maker has a market cap of $16.42 billion. This year’s earnings are up by 163% and there is no five-year EPS record yet as it hasn’t been around that long. Scotiabank in October 2023 initiated coverage of Cyber Ark with a “sector outperform” rating and a price target of $340.
Retail Opportunity Investment (Nasdaq: ROIC)
This real estate investment trust that specializes in shopping center investments was acquired by Blackstone in November. On the chart you can see where the price gapped up and then continued mostly sideways. The REIT on Friday hit a slight new high anyway and then backed off a bit.
Blackstone bought out Retail Opportunity Investment in a deal that came to $4 billion. The REIT had been a component of the Russell 2000 and had a market cap of $2.33 billion.
Trinity Capital (Nasdaq: TRIN)
The stock on Friday hit a new high with two days of decent buying volume. Both the 50-day and the 200-day moving average trend in the up direction.
Trinity is an asset management company focused on private credit markets. Market capitalization for the company is $852 million. It trades with a price-earnings ratio of 8.54 at 1.11 times its book value. Trinity Capital offers investors a dividend of 14.14%. In early December, Wells Fargo reduced its rating on the stock from “equal weight” to “underweight” with a price target of $13.
Verisign (Nasdaq: VRSN)
Friday’s new high comes following a 50-day moving average crossover of the 200-day moving average in late October/early November. From the early May low of $160 to the present $205 is a nice run-up.
The software company on its website calls itself “a leader in domain name registry services and internet infrastructure.” Market cap is $19.89 billion. The stock is a component of the S&P 500. The price-earnings ratio is 24. Robert Baird in early December had upgraded VeriSign from “neutral” to “outperform” with a price target of $250.
States courtesy of FinViz.com. Charts courtesy of Stockcharts.com.
More analysis and commentary at johnnavin.substack.com.
Read the full article here