15 Good Stocks to Buy Right Now

Published on September 1, 2021 at 1:45 pm by Trish Novicio in Hedge Funds, News

In this article, we discuss the 15 good stocks to buy right now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Good Stocks to Buy Right Now.

Investors are practicing extreme caution amid uncertainty caused by the resurgence of COVID-19 all over the world. Nonetheless, the market has improved since the dip in 2020, when nearly all sectors, especially manufacturing, retail, and entertainment, were impacted by the pandemic-driven recession.

Some industries, however, saw a robust demand amid the coronavirus. The healthcare industry remains in the limelight as major companies in the sector made COVID-19 vaccines and raked in billions in revenues. With the rise of the Delta variant, vaccine manufacturers are working on a booster shot to combat the new COVID-19 variant.

On the other hand, technology growth stocks, EV stocks and battery stocks also remain investors’ favorite. President Joe Biden’s infrastructure bill is boosting investor sentiment in the electric vehicle, battery, and charging equipment stocks like Blink Charging Co. (NASDAQ: BLNK), XPeng Inc. (NYSE: XPEV), Ford Motor Company (NYSE: F), and Microvast Holdings, Inc. (NASDAQ: MVST). The bill includes a $7.5 billion budget to establish a countrywide network of 500,000 electric vehicle chargers.

Another stock that is gaining investors’ attention is chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD), which has gained 39% in the last three months. On July 29, shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) rose more than 5% as Chief Executive Lisa Su spoke optimistically about the chipmaker’s position in the semiconductor market, despite the continued chip shortage.

Photo by Marga Santoso on Unsplash

The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Our Methodology

The stocks on our list were picked based on their fundamentals and prospects for growth based on key business characteristics. We chose cheap stocks that have long-term growth prospects and high analyst ratings. You will see that most of the stocks in our list are from high-growth industries like cybersecurity, space, biotech and energy.

We ranked these stocks based on the number of hedge funds having stakes in them, based on our data of over 866 hedge funds. Let’s look at the 15 good stocks to buy right now.

Good Stocks to Buy Right Now

15. Astra Space, Inc. (NASDAQ: ASTR)

Number of Hedge Fund Holders: N/A

We start our list of 15 good stocks to buy right now with space technology provider Astra Space, Inc. (NASDAQ: ASTR). The defense firm based in California offers satellite launch services. Astra Space, Inc. (NASDAQ: ASTR) shares have gone up by 29% in the last five days following the announcement of the company’s launch period for its first commercial orbital launch with the United States Space Force.

On July 27, Deutsche Bank analyst Edison Yu began coverage of Astra Space, Inc. (NASDAQ: ASTR) with a Buy rating and a $13 price target, noting the company’s opportunity in the market.

The company has a market cap of $2.7 billion. In the quarter that ended in March 2021, Astra Space, Inc. (NASDAQ: ASTR) reported an EPS of -$0.53. Shares of Astra Space, Inc. (NASDAQ: ASTR) climbed 7%, year to date.

14. Microvast Holdings, Inc. (NASDAQ: MVST)

Number of Hedge Fund Holders: N/A

Microvast Holdings, Inc. (NASDAQ: MVST) ranks 14th on the list of 15 good stocks to buy right now. Microvast Holdings, Inc. (NASDAQ: MVST) is a Texas-based manufacturer of ultra-fast charging batteries. The company produces batteries for commercial and passenger vehicles. Microvast Holdings, Inc. (NASDAQ: MVST) also provides energy storage for data centers.

Recently, Microvast Holdings, Inc. (NASDAQ: MVST) inked a deal to supply cutting-edge battery systems for Austria-based commercial electric vehicle manufacturer eVersum. In the next six years, the potential supply amount is expected to be over $117 million. Shares of Microvast Holdings, Inc. (NASDAQ: MVST) increased 28% in the last five days.

Morgan Stanley analyst Adam Jones initiated coverage of Microvast Holdings, Inc. (NASDAQ: MVST) on August 3 with an Underweight rating and a $6 price target.

The company has a market cap of $3.5 billion. In the quarter that ended in March 2021, Microvast Holdings, Inc. (NASDAQ: MVST) reported an EPS of -$0.07. The stock has gained 14% in the last twelve months.

Out of the hedge funds being tracked by Insider Monkey, New York-based hedge fund firm Ionic Capital Management is a leading shareholder in Microvast Holdings, Inc. (NASDAQ: MVST) with 2,310,694 million shares worth more than $7.44 million.

Just like Novavax, Inc. (NASDAQ: NVAX), Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), XPeng Inc. (NYSE: XPEV), Ford Motor Company (NYSE: F), and Advanced Micro Devices, Inc. (NASDAQ: AMD), Microvast Holdings, Inc. (NASDAQ: MVST) is a good stock to buy right now, according to market analysts.

13. Virgin Galactic Holdings, Inc. (NYSE: SPCE)

Number of Hedge Fund Holders: 18

Virgin Galactic Holdings, Inc. (NYSE: SPCE) is a New Mexico-based spaceflight company founded by Virgin Group owner Sir Richard Branson. The aerospace company ranks 13th on the list of 15 good stocks to buy right now.

After the successful July 11 spaceflight with Sir Richard Branson, Canaccord analyst Ken Herbert maintained a Buy rating on Virgin Galactic Holdings, Inc. (NYSE: SPCE) and boosted the firm’s price target to $48 per share from $35 earlier. Shares of Virgin Galactic Holdings, Inc. (NYSE: SPCE) increased 70% in the last three months.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) stock rose 7.20% after trading hours on August 5 as the aerospace business resumed ticket sales after observing a growing interest in the Unity 22 flight. A single seat in spaceflight starts at $450,000. Virgin Galactic Holdings, Inc. (NYSE: SPCE) plans to launch its next mission from Spaceport America in New Mexico in late September.

The company has a market cap of $8.6 billion. In the second quarter of 2021, Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported an EPS of -$0.39, missing estimates by -$0.07. The company’s second-quarter revenue came in at $571,000 and beat revenue estimates by $440,000.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm D E Shaw is a leading shareholder in Virgin Galactic Holdings, Inc. (NYSE: SPCE) with 1,849,261 shares worth more than $85.1 million.

12. fuboTV Inc. (NYSE: FUBO)

Number of Hedge Fund Holders: 18

fuboTV Inc. (NYSE: FUBO) is a New York-based live TV streaming platform that ranks 12th on the list of 15 good stocks to buy right now. As of August 10, fuboTV Inc. (NYSE: FUBO) has 681,721 subscribers.

Shares of fuboTV Inc. (NYSE: FUBO) jumped 11% on August 11 after the company released its Q2 2021 earnings. In the second quarter of 2021, fuboTV Inc. (NYSE: FUBO) reported an EPS of -$0.38, beating estimates by $0.11. The company’s second-quarter revenue grew 196% year over year to $130.9 million and beat revenue estimates by $9.46 million.

Following strong Q2 results, Roth Capital Partners analyst Darren Aftahi maintained a Buy rating on fuboTV Inc. (NYSE: FUBO) and raised its price target to $45 per share from $42.

At the end of the second quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $203 million in fuboTV Inc. (NYSE: FUBO), the same as in the previous quarter worth $207 million.

11. Cognyte Software Ltd. (NASDAQ: CGNT)

Number of Hedge Fund Holders: 19

Cognyte Software Ltd. (NASDAQ: CGNT) is a security analytics software developer based in Israel and it ranks 11th on the list of 15 good stocks to buy right now. The tech company’s AI-based analytics solutions help commercial clients and the local government.

On July 27, William Blair analyst Louie DiPalma initiated coverage of Cognyte Software Ltd. (NASDAQ: CGNT) with an Outperform rating and no price target, citing the software company’s potential benefit from increased demand for software solutions. Meanwhile, Needham analyst Mike Cikos initiated coverage on Cognyte Software Ltd. (NASDAQ: CGNT) with a Buy rating and a price target of $36 per share, citing the company’s spin-off from Verint Systems as a growth strategy.

The company has a market cap of $1.8 billion. In the second quarter of 2021, Cognyte Software Ltd. (NASDAQ: CGNT) reported an EPS of $0.20, beating estimates by $0.05. The company’s first-quarter revenue came in at $115.17 million and beat analyst consensus by $1.30 million. Shares of Cognyte Software Ltd. (NASDAQ: CGNT) increased 14% in the last month following strong Q1 2022 results.

At the end of the second quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $345 million in Cognyte Software Ltd. (NASDAQ: CGNT), up from 12 in the previous quarter worth $234 million.

10. XPeng Inc. (NYSE: XPEV)

Number of Hedge Fund Holders: 19

XPeng Inc. (NYSE: XPEV) is a Chinese smart electric vehicle manufacturer and it ranks 10th on the list of 15 good stocks to buy right now. XPeng Inc. (NYSE: XPEV) sells premium electric vehicles that integrate modern internet and AI technologies. In July, the company announced its record-high monthly delivery of 8,040 smart EVs, an increase of 228% year over year. Shares of XPeng Inc. (NYSE: XPEV) climbed 4% in the last month.

On July 2, Citi analyst Jeff Chung maintained a Buy rating on XPeng Inc. (NYSE: XPEV) and raised the firm’s price target to $56.30 from $50.30.

The company has a market cap of $37 billion. In the first quarter of 2021, XPeng Inc. (NYSE: XPEV) reported an EPS of -$0.14, beating estimates by $0.05. The company’s revenue in the first quarter was $450.4 million. The Chinese EV maker has delivered 13,340 units in the first quarter, an increase of 487.4% year over year. Shares of XPeng Inc. (NYSE: XPEV) increased 62% in the last three months.

At the end of the second quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $785 million in XPeng Inc. (NYSE: XPEV), the same as in the previous quarter worth $976 million.

9. Bumble Inc. (NASDAQ: BMBL)

Number of Hedge Fund Holders: 23

Bumble Inc. (NASDAQ: BMBL) is an online dating platform based in Texas and it ranks 9th on the list of 15 good stocks to buy now. In May, Bumble Inc. (NASDAQ: BMBL) debuted Snap Inc.’s (NYSE: SNAP) Snapchat Lenses to creatively enhance the users’ virtual dating experience.

Shares of Bumble Inc. (NASDAQ: BMBL) jumped 2.5% on July 9 after the dating app stock was given an Outperform rating and a $65 price target by RBC Capital analyst Brad Erickson, citing the company’s pricing power as a sign of longer-term margin upside.

The company has a market cap of $9 billion. In the first quarter of 2021, Bumble Inc. (NASDAQ: BMBL) reported an EPS of $2.08, beating analysts’ estimates by $2.10. The company’s first-quarter revenue grew more than 115% year over year to $170.7 million and beating estimates by $6.14 million. The total paying users of Bumble and Badoo apps in the quarter increased 30% to 2.8 million, up from 2.2 million in the same period in 2020.

Out of the hedge funds being tracked by Insider Monkey, Hong Kong-based investment firm Segantii Capital is a leading shareholder in Bumble Inc. (NASDAQ: BMBL) with 165,000 shares worth more than $9.50 million.

Just like Novavax, Inc. (NASDAQ: NVAX), Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), XPeng Inc. (NYSE: XPEV), Ford Motor Company (NYSE: F), and Advanced Micro Devices, Inc. (NASDAQ: AMD), Bumble Inc. (NASDAQ: BMBL) is a good stock to buy right now, according to market analysts.

In its Q1 2021 investor letter, ClearBridge Investments mentioned Bumble Inc. (NASDAQ: BMBL) and shared their insights on the company. Here is what the fund said:

“We also participated in two IPOs during the quarter (including) Bumble, which runs a popular social media dating app. Bumble is a women-first dating app founded in 2014 and is the second-highest-grossing dating app globally. The company will benefit from a near doubling of industry spend in the next five years plus company-specific initiatives in international expansion, improved app payer conversion, and higher average revenue per user premium tier upgrades.”

8. BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)

Number of Hedge Fund Holders: 25

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) is a biotech company based in North Carolina and it ranks 8th on the list of 15 good stocks to buy right now. BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) commercializes the FDA-approved influenza virus inhibitor, Peramivir.

On August 6, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) and increased the firm’s price target to $30 per share from $18, citing Orladeyo, a once-daily capsule that prevents hereditary angioedema, as the company’s growth driver.

Shares of BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) jumped 8.5% on August 11 after the company canceled its previously announced $200 million underwritten public offering, highlighting the company’s strong financial position and growing revenue from Orladeyo, which contributed $28.5 million to the biotech company’s total revenue in the second quarter of 2021.

The company has a market cap of $2.8 billion. In the second quarter of 2021, BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) reported an EPS of -$0.24, beating estimates by $0.01. The company’s second-quarter revenue came in at $50 million, up from $2.9 million in the same quarter in 2020. The stock has gained 109%, year to date.

At the end of the second quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $511 million in BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), up from 22 in the previous quarter worth $348 million.

Just like Novavax, Inc. (NASDAQ: NVAX), Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), XPeng Inc. (NYSE: XPEV), Ford Motor Company (NYSE: F), and Advanced Micro Devices, Inc. (NASDAQ: AMD), BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) is a good stock to buy right now, according to market analysts.

7. Palantir Technologies Inc. (NYSE: PLTR)

Number of Hedge Fund Holders: 26

Palantir Technologies Inc. (NYSE: PLTR) is a Colorado-based software company and it ranks 7th on the list of 15 good stocks to buy right now. The software firm uses AI and machine learning to provide data solutions used in the sectors of defense, intelligence, health and life sciences, insurance, sales, supply chain, manufacturing, and COVID-19 response.

In the past five months, the data analytics software firm has been investing in digital healthcare, EV, robotics, and biopharmaceuticals through SPACs. According to a 10-Q filing, these companies have a total of $132 million in PIPE (private investment in public equity) interests. In June, Palantir Technologies Inc. (NYSE: PLTR) made its most recent investment in app-based healthcare delivery expert Babylon Health’s SPAC merger transaction to go public, where the software business announced a $230 million joint investment with a group of investors.

On June 24, shares of Palantir Technologies Inc. (NYSE: PLTR) jumped nearly 1% premarket after announcing a partnership to build a forecasting framework with Boston-based enterprise AI firm DataRobot, Inc. In the same month, the Federal Aviation Administration has issued Palantir Technologies Inc. (NYSE: PLTR) a one-year contract worth $18.4 million to deliver data analytics tools.

The company has a market cap of $41 billion. In the second quarter of 2021, Palantir Technologies Inc. (NYSE: PLTR) reported an EPS of $0.04, beating estimates by $0.01. The company’s second-quarter revenue grew 49.1% year over year to $375.64 million and beat revenue estimates by $14.54 million. Palantir Technologies Inc. (NYSE: PLTR) gained 20 net new clients in the quarter, representing an increase of 13% quarter over quarter. Palantir Technologies Inc. (NYSE: PLTR) shares climbed 22% in the past three months.

In the Q2 2021 investor letter of Guardian Fund, the fund mentioned Palantir Technologies Inc. (NYSE: PLTR) and discussed its stance on the firm. Here is what the fund said:

“The success of the private sector to innovate in order to help people through the lockdowns and to produce vaccines at record speed at scale has been impressive. The fact that almost every public institution was struggling to be effective no matter how hard some of the people worked, shows the fundamental need of the public sector to become data-driven and invest in data infrastructure.

Government institutions have to partner with enterprises such as Palantir to become digital-native. The public sector will always struggle to attract the most talented engineers as compensations cannot be justified with tax money and therefore this must be a partnership with specialized private enterprises. This is a great opportunity for Palantir especially as it has already

shown to be capable of working with demanding and complex public institutions entrusting it to work on the most critical and sensitive matters.

The news section of Palantir’s website gives insight in where new business is coming from. The main opportunity is in enterprise software and the faster onboarding time and increased self-service of clients is a positive sign. We believe Palantir is becoming one of the more important global software companies.

In addition, Palantir has quietly become a significant investor, investing well over USD 200 million in eight companies. Thereby, it is following the lead of companies like Tencent, Alphabet, and Shopify of establishing valuable investment portfolios.”

6. DraftKings Inc. (NASDAQ: DKNG)

Number of Hedge Fund Holders: 26

DraftKings Inc. (NASDAQ: DKNG) operates as a digital sports entertainment and gaming platform based in Boston and it ranks 6th on the list of 15 good stocks to buy right now. DraftKings Inc. (NASDAQ: DKNG) has served 1.1 million monthly unique paying clients as of the second quarter of 2021.

On August 6, Craig-Hallum analyst Ryan Sigdahl maintained a Buy rating on DraftKings Inc. (NASDAQ: DKNG) and a price target of $60 per share, highlighting the company’s strong Q2 results. According to the analyst, DraftKings Inc.’s (NASDAQ: DKNG) growth catalysts are expanding in and out of North America, as well as the company’s position in the NFT market. Shares of DraftKings Inc. (NASDAQ: DKNG) increased 11%, year to date.

The company has a market cap of $21 billion. In the second quarter of 2021, DraftKings Inc. (NASDAQ: DKNG) reported an EPS of -$0.76, missing estimates by -$0.10. The company’s revenue in the second quarter came in at $298 million, an increase of 320% year over year, and beat revenue estimates by $49.3 million.

Just like Novavax, Inc. (NASDAQ: NVAX), Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), XPeng Inc. (NYSE: XPEV), Ford Motor Company (NYSE: F), and Advanced Micro Devices, Inc. (NASDAQ: AMD), DraftKings Inc. (NASDAQ: DKNG) is a good stock to buy right now, according to market analysts.

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