Dyax, Bill Barrett, MeetMe: What You Need To Know About Today’s Hottest Stocks

Bill Barrett Corporation (NYSE:BBG), an independent E&P energy company with activities mainly in the DJ Basin, is up as investors speculate on the future direction of WTI. While the forward month contract price of crude has retraced substantially from the $50 per barrel level as the sector is oversupplied given the weak global economic conditions and Saudi Arabia’s above-average production, the long-term price of crude is still favorable given that Saudi Arabia cannot keep crude prices artificially low forever. OPEC member countries will meet in Vienna on December 4, and some investors are clearly speculating that crude prices will rebound enough for some beaten up E&P’s to do well. Bill Barrett Corp investors could certainly use a crude rally, as shares are down by almost 60% year-to-date. 20% of Bill Barrett Corporation (NYSE:BBG)’s float is short, so short covering could also be a reason for today’s rally.

MeetMe Inc (NASDAQ:MEET) isn’t exactly a social media goliath but its shares are up today from follow-on momentum. MeetMe shares gapped up on October 7 after the company issued positive preliminary third quarter 2015 financial results of $14.2 million in revenue (versus previous guidance of $12.5 million-to-$13 million) and $5.1 million in adjusted EBITDA (versus previous guidance of $2 million-to-$3 million). The company’s mobile engagement numbers are rising, and management is controlling costs. The analysts at Northland Securities have an ‘Outperform’ rating on the stock with a $3.50 price target, which implies greater than 50% upside potential. We would like to see consistent growth before considering however.

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