5 $10 Stocks That Will Triple

In this article, we discuss 5 $10 stocks that will triple. If you want to read our discussion on the latest stock market landscape, head directly to 12 $10 Stocks That Will Triple. 

5. Borr Drilling Limited (NYSE:BORR)

Number of Hedge Fund Holders: 14

Share Price as of February 26: $6.21

Borr Drilling Limited (NYSE:BORR) is a global offshore drilling contractor for the oil and gas industry. The company owns, contracts, and operates jack-up drilling rigs, specializing in shallow-water areas. On February 22, Borr Drilling Limited (NYSE:BORR) reported a Q4 GAAP EPS of $0.11 and a revenue of $220.6 million, outperforming Wall Street estimates by $0.01 and $7.8 million, respectively. The company will also pay a $0.05 per share quarterly dividend on March 18, to shareholders on record as of March 4. Borr Drilling Limited (NYSE:BORR) is one of the $10 stocks that will triple. 

According to Insider Monkey’s fourth quarter database, 14 hedge funds were bullish on Borr Drilling Limited (NYSE:BORR), same as the prior quarter. William B. Gray’s Orbis Investment Management is the largest stakeholder of the company, with 8.4 million shares worth $61.8 million. 

4. Despegar.com, Corp. (NYSE:DESP)

Number of Hedge Fund Holders: 15

Share Price as of February 26: $8.70

Despegar.com, Corp. (NYSE:DESP) is an online travel company operating in Latin America and the United States. The company offers airline tickets, travel packages, hotel rooms, car rentals, and more, allowing consumers to compare, plan, and purchase travel products. Despegar.com, Corp. (NYSE:DESP) is one of the stocks that will triple. On December 13, 2023, the company revised its full-year 2023 revenue expectations, adjusting the range to $690 million to $700 million compared to the previous estimate of $670 million to $700 million. Additionally, Despegar.com, Corp. (NYSE:DESP) raised its adjusted EBITDA outlook to $105 million to $110 million, up from the earlier guidance of $90 million to $100 million.

According to Insider Monkey’s fourth quarter database, 15 hedge funds were bullish on Despegar.com, Corp. (NYSE:DESP), compared to 12 funds in the last quarter. Amit Wadhwaney’s Moerus Capital Management is the biggest stakeholder of the company, with 3.75 million shares worth $35.4 million. 

3. Archer Aviation Inc. (NYSE:ACHR)

Number of Hedge Fund Holders: 22

Share Price as of February 26: $4.81

Archer Aviation Inc. (NYSE:ACHR) is an urban air mobility company specializing in the design, development, manufacturing, and operation of electric vertical takeoff and landing aircraft for passenger transportation. It is one of the stocks that will triple. 

On January 22, Archer Aviation Inc. (NYSE:ACHR) announced that it had entered into a Space Act Agreement with NASA, marking the start of a collaboration focused on studying high-performance battery cells for Advanced Air Mobility and space applications. NASA aims to test Archer’s battery cell and system design, contributing to advancements in the entire Advanced Air Mobility industry. Archer plans to deliver a high-performing battery pack for its Midnight electric air taxi, emphasizing safety and suitability for aerospace applications, including electric vertical takeoff and landing (eVTOL) aircraft and potential use in space. 

According to Insider Monkey’s fourth quarter database, 22 hedge funds were bullish on Archer Aviation Inc. (NYSE:ACHR), same as the prior quarter. 

2. Caribou Biosciences, Inc. (NASDAQ:CRBU)

Number of Hedge Fund Holders: 23

Share Price as of February 26: $6.94

Caribou Biosciences, Inc. (NASDAQ:CRBU) is a clinical-stage biopharmaceutical company focused on developing genome-edited allogeneic cell therapies for hematologic malignancies and solid tumors. It is one of the stocks that are set to triple. On November 22, 2023, the U.S. FDA granted orphan drug designation to Caribou Biosciences, Inc. (NASDAQ:CRBU)’s experimental CAR-T-cell therapy for multiple myeloma. This designation makes Caribou eligible for incentives, including tax credits, fee waivers, and seven years of US marketing exclusivity, as it advances its allogeneic anti-BCMA CAR-T cell therapy (CB-011) in a Phase 1 trial for relapsed or refractory multiple myeloma. 

According to Insider Monkey’s fourth quarter database, 23 hedge funds were bullish on Caribou Biosciences, Inc. (NASDAQ:CRBU), compared to 21 funds in the prior quarter. Christopher Medlock James’ Partner Fund Management is the leading stakeholder of the company, with 6.48 million shares worth over $37 million. 

1. Kinross Gold Corporation (NYSE:KGC)

Number of Hedge Fund Holders: 36

Share Price as of February 26: $4.98

Kinross Gold Corporation (NYSE:KGC) ranks 1st on our list of the $10 stocks that will triple. It is a gold mining company involved in the acquisition, exploration, and development of gold properties primarily in the United States, Brazil, Chile, Canada, and Mauritania. On February 14, Kinross Gold Corporation (NYSE:KGC) reported a Q4 non-GAAP EPS of $0.11 and a revenue of $1.12 billion, outperforming Wall Street estimates by $0.01 and $50 million, respectively. 

According to Insider Monkey’s fourth quarter database, 36 hedge funds were bullish on Kinross Gold Corporation (NYSE:KGC), compared to 29 funds in the last quarter. Israel Englander’s Millennium Management is the biggest stakeholder of the company, with 6.46 million shares worth $39 million. 

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