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Investing.com - Citi’s Quantitative research team has released an analysis of market positioning in North American alternative energy stocks, identifying the most crowded long and short positions in the sector.
According to the report, the three most-crowded long positions are NXT (85th percentile), LEU (79th percentile), and SMR (60th percentile). On the opposite end, the least-crowded long names include ENPH (1st percentile), OKLO (5th percentile), and CSIQ (6th percentile).
For short positions, ENPH leads as the most-crowded short at the 94th percentile, followed by FLNC (93rd percentile) and BLDP (91st percentile). The least-crowded shorts are LEU (7th percentile), SMR (10th percentile), and NXT (28th percentile).
The analysis shows average long crowding in the alternative energy space has been trending higher from early 2024 levels, likely driven by positioning in nuclear stocks. Conversely, short crowding in renewables has sharply declined month-over-month to among the lowest levels observed since the second quarter of 2023.
In its spotlight on nuclear stocks, Citi notes that OKLO, LEU, and SMR maintain low short crowding, while LEU and SMR show relatively high long crowding scores of 79% and 60%, respectively. OKLO screens as an uncrowded long position primarily due to its relative valuation and macro exposure factors. For investors seeking deeper insights, InvestingPro offers comprehensive analysis of LEU’s fundamentals, including 17 additional ProTips and a detailed Pro Research Report, part of its coverage of over 1,400 US stocks.
In other recent news, Centrus Energy (NYSE:LEU) has been the focus of several analyst reports, highlighting its strategic position in the nuclear energy sector. Stifel initiated coverage with a Buy rating and a $220 price target, emphasizing Centrus Energy’s unique status as the only publicly traded nuclear enrichment company with strong ties to the U.S. government. Additionally, Stifel reiterated its Buy rating, pointing to challenges in the U.S. nuclear supply chain that could benefit Centrus. Evercore ISI maintained an Outperform rating with a $205 price target, describing the company as a "MUST OWN" investment amid a "nuclear renaissance." UBS started coverage with a Neutral rating and a $215 price target, citing policy tailwinds and increasing electricity demand. JPMorgan shared that investors showed interest in Centrus Energy’s high risk/high reward potential but raised questions about the sustainability of its current valuation. These developments reflect growing analyst and investor interest in Centrus Energy’s role in the evolving nuclear industry landscape.
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