In this article, we discuss the 5 best high volume stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 15 Best High Volume Stocks to Buy Now.
5. Sundial Growers Inc. (NASDAQ: SNDL)
Number of Hedge Fund Holders: 7
Volume: 91 million
Sundial Growers Inc. (NASDAQ: SNDL) is a Canada-based producer and marketer of cannabis products. It is placed fifth on our list of 15 best high volume stocks to buy now. The company’s shares have offered investors returns exceeding 40% over the course of the past year. The stock is one of the most mentioned on Reddit platform WallStreetBets and on July 3, the share price of the firm jumped 28% in a single day of trading after increased social media hype around the firm on the back of reports that the US government was considering legalizing marijuana.
On July 20, investment advisory ATB Capital upgraded Sundial Growers Inc. (NASDAQ: SNDL) stock to Sector Perform from Underperform and raised the price target to 80c from 50c, noting that management changes at the firm would drive growth.
At the end of the first quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $18 million in Sundial Growers Inc. (NASDAQ: SNDL), up from 2 the preceding quarter worth $2 million.
4. Ford Motor Company (NYSE: F)
Number of Hedge Fund Holders: 49
Volume: 110 million
Ford Motor Company (NYSE: F) stock has offered investors returns exceeding 117% over the course of the past twelve months. It is placed fourth on our list of 15 best high volume stocks to buy now. The firm makes and sells automotives and is based in Michigan. On July 28, the firm posted earnings for the second quarter, reporting earnings per share of $0.13, beating market estimates by $0.09. The revenue over the period was more than $24 billion, up 45% year-on-year and beating estimates by $1.2 billion.
On June 29, investment advisory UBS kept a Neutral rating on Ford Motor Company (NYSE: F) stock but raised the price target to $16 from $13, citing the foray of the firm into the EV sector and growing EV sales across the country.
At the end of the first quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $2.1 billion in Ford Motor Company (NYSE: F), up from 41 in the preceding quarter worth $1.6 billion.
In its Q1 2020 investor letter, Greenlight Capital Fund, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE: F) was one of them. Here is what the fund said:
“General Motors (GM) was a disappointment. The damage from last year’s strike consumed most of the cash flow GM would have otherwise generated in 2019. We had expected a strong bounce back in earnings and cash flow in 2020, but the annual guidance, while meeting Wall Street expectations, was worse than we expected. Further, the cash burned during the strike needed to be re-earned in order to protect GM’s investment grade rating. Pre-crisis, there would have been, at best, a minimal share repurchase late in the year. At the analyst day, our hopes that 2020 would finally be the year were dashed. We sold our stock. Over our five-year holding period, we made a 9.6% IRR on GM. In the difficult environment, its most comparable peer, Ford, lost about half its value.”
3. Cocrystal Pharma, Inc. (NASDAQ: COCP)
Number of Hedge Fund Holders: N/A
Volume: 152 million
Cocrystal Pharma, Inc. (NASDAQ: COCP) is ranked third on our list of 15 best high volume stocks to buy now. The company’s shares have returned 5% to investors over the past five days. The firm is based in Washington and focuses on the development of antiviral therapeutic treatments for serious and chronic viral diseases. On June 14, the share price of the company jumped 11% after a clinical study into a treatment to fight the COVID-19 showed promising results against the UK and South African variant of the viruses.
On June 15, investment advisory HC Wainwright maintained a Buy rating on Cocrystal Pharma, Inc. (NASDAQ: COCP) stock but lowered the price target to $4 from $4.5, noting that the price target was reduced on recent dilution.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Cocrystal Pharma, Inc. (NASDAQ: COCP) with 4.2 million shares worth more than $5.9 million.
2. Advanced Micro Devices, Inc. (NASDAQ: AMD)
Number of Hedge Fund Holders: 62
Volume: 163 million
Advanced Micro Devices, Inc. (NASDAQ: AMD) stock has offered investors returns exceeding 32% over the course of the past year. It is placed second on our list of 15 best high volume stocks to buy now. The firm is headquartered in California and makes and sells semiconductors. In earnings results for the second quarter, posted on July 27, the firm reported earnings per share of $0.63, beating estimates by $0.09. The revenue over the period was more than $3.8 billion, up 99% year-on-year.
On July 29, investment advisory Argus reiterated a Buy rating on Advanced Micro Devices, Inc. (NASDAQ: AMD) stock and raised the price target to $120 from $106, underlining the revenue growth and margin expansion potential of the firm.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Advanced Micro Devices, Inc. (NASDAQ: AMD) with 25 million shares worth more than $1.9 billion.
1. NanoVibronix, Inc. (NASDAQ: NAOV)
Number of Hedge Fund Holders: 3
Volume: 219 million
NanoVibronix, Inc. (NASDAQ: NAOV) is a New York-based firm that makes and sells noninvasive biological response-activating devices. It is ranked first on our list of 15 best high volume stocks to buy now. The company’s shares have offered investors returns exceeding 65% over the course of the past twelve months. The firm was founded in 2003 and has a market cap of around $47 million. It posted close to 623,000 in revenue last year. The devices it sells are used for biofilm prevention, wound healing, and pain therapy.
On July 29, the share price of NanoVibronix, Inc. (NASDAQ: NAOV) soared close to 45% on a single day of trading after the firm announced that regulators in Australia had approved UroShield, a product marketed by the firm, for use by patients.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in NanoVibronix, Inc. (NASDAQ: NAOV) with 318,500 shares worth more than $325,000.
You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.
