In this article, we discuss the 5 best multibagger stocks to buy now. If you want our detailed analysis of these stocks, go directly to the 10 Best Multibagger Stocks To Buy Now.
5. Ring Energy, Inc. (NYSE:REI)
12-Month Returns as of January 3: 285.82%
Number of Hedge Fund Holders: 9
Ring Energy, Inc. (NYSE:REI) is a Texas-based oil and gas company that offers crude oil and natural gas liquids from its rich assets in the Permian Basin of Texas and New Mexico.
On November 9, Ring Energy, Inc. (NYSE:REI) posted its earnings for Q3 2021. The company declared earnings per share of $0.18, beating estimates by $0.10. The revenue jumped 56.92% year-over-year to $49.38 million, exceeding estimates by $5.65 million.
Roth Capital analyst John White upgraded Ring Energy, Inc. (NYSE:REI) on October 14 to Buy from Neutral with a $4.75 price target. According to the analyst, Ring Energy, Inc. (NYSE:REI) re-negotiated more favorable crude oil transportation agreements involving lower pipeline tariffs and trucking fees, in addition to making significant changes to the senior management.
According to the hedge funds tracked by Insider Monkey, John Overdeck and David Siegel’s Two Sigma Advisors is the biggest Ring Energy, Inc. (NYSE:REI) stakeholder as of September end. Two Sigma Advisors increased its stake in the company by 876% in Q3 2021, with 1.69 million shares worth over $5 million.
4. Identiv, Inc. (NASDAQ:INVE)
12-Month Returns as of January 3: 237.09%
Number of Hedge Fund Holders: 10
Identiv, Inc. (NASDAQ:INVE) is a global leader in authentication and security solutions. The company verifies operations, protects identities from malicious attacks, secures intellectual property, and works to innovate its services using IoT.
Identiv, Inc. (NASDAQ:INVE), on November 2, reported earnings for the third quarter. The company posted earnings per share of $0.06, beating estimates by $0.02. The $29.01 million revenue was up 17.05% year-over-year, but missed estimates by $88,250.
In the third quarter of 2021, 10 hedge funds in the database of Insider Monkey were long Identiv, Inc. (NASDAQ:INVE), holding stakes worth $78.8 million. This is compared to 7 funds holding stakes in Identiv, Inc. (NASDAQ:INVE) in the preceding quarter, valued at $65 million.
Riley analyst Craig Ellis raised the price target on Identiv, Inc. (NASDAQ:INVE) on November 3 to $31 from $26 and reiterated a Buy rating on the shares following the Q3 beat. The analyst believes that Identiv, Inc. (NASDAQ:INVE) is “approaching a high-volume” internet of things inflection, led by its “differentiated” IoT offerings.
Portolan Capital Management is the leading company stakeholder as of Q3 2021, with 1.48 million shares worth over $28 million.
Here is what Choice Equities Capital Management has to say about Identiv, Inc. (NASDAQ:INVE) in its Q3 2021 investor letter:
“INVE –Recent reports and field research each suggest Identiv is well-positioned to become a much larger company. CEO Steve Humphries is having success building out the team. In the past quarter, he successfully lured Amir Khoshniyati away from SmarTrac at Avery Dennison to become VP of Business Development, who himself has since successfully convinced several of his former colleagues to help him expand the sales efforts alongside him at Identiv. The burgeoning sales team has been busy and productive, enabling further additions to the company’s backlog, which was up 51% on a year-over-year basis in the quarter. And the pipeline of new business and potential new use cases is expanding rapidly. The elephant-sized, billion-plus unit opportunities such as the deployment of chips in syringes and cannabis continue to move forward and remain in sight as potential drivers next year. But perhaps more importantly as it relates to the likelihood of success for the market for radio-frequency identification (RFID) chips based on near field communications (NFC) technology, the long tail of new and small-to medium sized use case opportunities has been the primary driver of unit growth thus far. Signs suggest continued reason for optimism for this small company and their market leading position in potentially massive end markets built around securely connecting physical things to the digital world.”
3. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)
12-Month Returns as of January 3: 293.28%
Number of Hedge Fund Holders: 10
Another top multibagger stock to purchase is Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), providing a return of 293.28% in 2021. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) is headquartered in South Africa, providing freight logistics and shipping services.
Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) reported its third quarter results on November 17, posting earnings per share of $2.28, exceeding estimates by $0.19. Revenue over the period came in at $135.14 million, outperforming estimates by $19.06 million.
Jefferies analyst Randy Giveans on October 28 initiated coverage of Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) with a Buy rating and a $20 price target. The analyst sees an attractive outlook for dry bulk shipping and says the company has “a fortress balance sheet”.
According to Insider Monkey’s Q3 records, 10 hedge funds reported owning stakes in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), up from only 2 funds in the preceding quarter.
2. Biotricity, Inc. (NASDAQ:BTCY)
12-Month Returns as of January 3: 433.78%
Number of Hedge Fund Holders: 1
Biotricity, Inc. (NASDAQ:BTCY) is a medical technology company that provides biometric data monitoring solutions, in addition to its Bioflux MCT technology, consisting of a monitoring device and an ECG reporting software component. Biotricity, Inc. (NASDAQ:BTCY) stock returned 433.78% in 2021, making it one of the best multibagger stocks to buy now.
H.C. Wainwright analyst Kevin Dede initiated coverage of Biotricity, Inc. (NASDAQ:BTCY) on November 23 with a Buy rating and a $6 price target. The analyst observed that horizontal and vertical growth avenues present an attractive opportunity in remote chronic cardiac care and monitoring.
Billionaire Ken Griffin’s Citadel Investment Group recently added Biotricity, Inc. (NASDAQ:BTCY) to its Q3 portfolio, buying stakes worth $37,000.
In its third quarter results, published on November 4, Biotricity, Inc. (NASDAQ:BTCY) announced a loss per share of $0.26, missing estimates by $0.17. The $1.81 million revenue also missed estimates by $101,190.
1. Vertex Energy, Inc. (NASDAQ:VTNR)
12-Month Returns as of January 3: 538.14%
Number of Hedge Fund Holders: 10
Vertex Energy, Inc. (NASDAQ:VTNR) is one of the best multibagger stocks to purchase now, accumulating a 538.14% return for the year in 2021. Vertex Energy, Inc. (NASDAQ:VTNR) is a petroleum refining company based in Houston, Texas. Vertex Energy, Inc. (NASDAQ:VTNR) is one of the leading processors of used motor oil in the United States, with a processing capacity of more than 115 million gallons per annum.
Vertex Energy, Inc. (NASDAQ:VTNR), on November 9, announced its Q3 results. The company posted a loss per share of $0.06, missing estimates by $0.05. The revenue jumped 76.35% year-over-year to $65.93 million, outperforming estimates by $11.68 million.
Credit Suisse analyst Manav Gupta initiated coverage of Vertex Energy, Inc. (NASDAQ:VTNR) with an Outperform rating and a $13 price target. The analyst reported that Vertex Energy, Inc. (NASDAQ:VTNR) is in the process of selling its legacy businesses of motor oil collection and recycling assets to become a renewable diesel producer. This opportunity “not only implies significant earnings growth potential, but it should also drive meaningful multiple expansion”, according to Gupta.
One of the leading Vertex Energy, Inc. (NASDAQ:VTNR) stakeholders out of the 10 hedge funds that were bullish on the stock as of the third quarter is Millennium Management, increasing its stake in Vertex Energy, Inc. (NASDAQ:VTNR) by 604%, holding an $11.5 million position.
Wasatch Global Investors mentioned Vertex Energy, Inc. (NASDAQ:VTNR) in its Q2 2021 investor letter. Here is what the firm said:
“The top contributor to Fund performance for the second quarter was Vertex Energy, Inc. (VTNR), a middle-market consolidator, refiner and rerefiner of distressed petroleum products such as used oil, transmix and off-specification commercial chemical products. The stock soared after the company agreed to purchase an Alabama refinery from Royal Dutch Shell for $75 million. According to comments by CEO Benjamin Cowart in the deal announcement, this was the “largest, most significant transaction ever completed by Vertex, one that positions us to become a leading regional supplier of both renewable and conventional products.” After another $85 million in investments to convert the hydrocracking unit to produce renewable diesel, Mr. Cowart believes the Alabama refinery could generate $3 billion in revenue and $400 million in gross profit as soon as 2023. While we admire Mr. Cowart’s optimism, we think the stock price has gotten ahead of company fundamentals—partially due to over exuberance regarding “green energy”—and we sold our position in Vertex.”
You can also take a look at 10 Electric Car Stocks to Buy for 2022 and 10 High Dividend Stocks for 2022.
