5 Best Multibagger Stocks to Buy Now

In this article, we discuss 5 best multibagger stocks to buy now. If you want to see more stocks in this selection, check out 12 Best Multibagger Stocks to Buy Now. 

5. KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)

1-Year Share Price Gain as of December 13: 312.35%

Number of Hedge Fund Holders: 7

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) is a Texas-based company that provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company posted a Q3 revenue of $221.6 million, up 59.4% year-over-year, beating market estimates by $6.6 million. For full-year 2022, KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) reported revenue guidance of $780 million-$790 million, versus a consensus of $765 million. 

On November 21, EF Hutton analyst Ben Piggott initiated coverage of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) with a Buy rating and a $35 price target. He remains bullish on North American service activity and sees KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) being well positioned to benefit from solid price momentum in oil and gas, the analyst told investors.

According to Insider Monkey’s Q3 data, KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) was part of 7 hedge fund portfolios, compared to 8 in the prior quarter. Jeffrey Gendell’s Tontine Asset Management is the largest stakeholder of the company, with 788,356 shares worth $6.5 million.  

4. Ardmore Shipping Corporation (NYSE:ASC)

1-Year Share Price Gain as of December 13: 312.77%

Number of Hedge Fund Holders: 17

Ardmore Shipping Corporation (NYSE:ASC) is a Bermuda-based company that engages in the seaborne transportation of petroleum products and chemicals worldwide. It serves oil majors, oil and chemical traders, and pooling service providers. On November 3, Ardmore Shipping Corporation (NYSE:ASC) announced that it plans to initiate a quarterly cash dividend as a component of the company’s capital allocation policy. The dividend is expected to commence with the quarter ending December 31, 2022. With shares up nearly 313% over the last year as of December 13, Ardmore Shipping Corporation (NYSE:ASC) is one of the top multibagger stocks to consider. 

On November 29, Jefferies analyst Omar Nokta raised the price target on Ardmore Shipping Corporation (NYSE:ASC) to $17 from $16 and kept a Buy rating on the shares. He lifted estimates and price targets across his tanker coverage, citing the view that the sector’s earnings power has “strengthened materially” as charterers prepare for an EU ban on Russian crude oil imports. All tanker segments are “positioned for outsized earnings,” the analyst contended.

According to Insider Monkey’s data, 17 hedge funds were bullish on Ardmore Shipping Corporation (NYSE:ASC) at the end of September 2022, compared to 13 funds in the prior quarter. Israel Englander’s Millennium Management is the biggest position holder in the company, with 1.5 million shares worth $14 million. 

3. Scorpio Tankers Inc. (NYSE:STNG)

1-Year Share Price Gain as of December 13: 334.82%

Number of Hedge Fund Holders: 30

Scorpio Tankers Inc. (NYSE:STNG) is headquartered in Monaco, and the company  engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. On December 5, Scorpio Tankers Inc. (NYSE:STNG) announced that all holders of its convertible bond due 2025 converted their bonds into approximately 5.8 million shares. As a result, the company’s outstanding debt has now been lowered by $205 million. It is one of the premier multibagger stocks to invest in. 

On December 9, BTIG analyst Gregory Lewis raised the price target on Scorpio Tankers Inc. (NYSE:STNG) to $70 from $60 and kept a Buy rating on the shares. The analyst stated that his meetings with the management were constructive with product tanker utilization over 90% and a limited order book, which represents a multi-year rate upcycle. 

According to Insider Monkey’s data, 30 hedge funds were bullish on Scorpio Tankers Inc. (NYSE:STNG) at the end of September 2022, compared to 26 funds in the last quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a prominent stakeholder of the company, with 961,021 shares worth $40.4 million. 

2. Target Hospitality Corp. (NASDAQ:TH)

1-Year Share Price Gain as of December 13: 372.62%

Number of Hedge Fund Holders: 24

Target Hospitality Corp. (NASDAQ:TH) is a Texas-based specialty rental and hospitality services company that operates through four segments – Hospitality & Facilities Services South, Hospitality & Facilities Services Midwest, Government, and TCPL Keystone. On November 9, Target Hospitality Corp. (NASDAQ:TH) reported a Q3 revenue of $159.57 million, up 79% year-over-year and beating market estimates by $1.37 million. The company posted record quarterly adjusted EBITDA of $84.4 million for the three months ended September 30, 2022, an increase of 125% from the same period in 2021.

According to Insider Monkey’s data, 24 hedge funds were long Target Hospitality Corp. (NASDAQ:TH) at the end of September 2022, compared to 14 funds in the prior quarter. The collective stakes held by elite funds increased to $139 million in Q3 from $47.8 million in Q2 2022. Gregg J. Powers’ Private Capital Management is the largest stakeholder of the company, with 5.72 million shares worth $72.2 million.

1. Nine Energy Service, Inc. (NYSE:NINE)

1-Year Share Price Gain as of December 13: 642.37%

Number of Hedge Fund Holders: 8

Nine Energy Service, Inc. (NYSE:NINE) was incorporated in 2011 and is headquartered in Houston, Texas. It operates as an onshore completion services provider that targets unconventional oil and gas resource development across North American basins and internationally. Nine Energy Service, Inc. (NYSE:NINE) stock has gained over 642% over the last year as of December 13, making it one of the best multibagger names to invest in. On November 7, the company reported a Q3 non-GAAP EPS of $0.39 and a revenue of $167.43 million, up 80.2% year-over-year. 

On July 19, EF Hutton analyst Ben Piggott initiated coverage of Nine Energy Service, Inc. (NYSE:NINE) with a Buy rating and a $6 price target. He sees Nine Energy Service, Inc. (NYSE:NINE) being in the “very early innings” of a multi-year margin recovery, said the analyst, who forecasts activity levels to remain strong in the core basins where the company operates, due to the extremely tight oil and natural gas market.

According to Insider Monkey’s third quarter database, 8 hedge funds were long Nine Energy Service, Inc. (NYSE:NINE), compared to 7 funds in the earlier quarter. Aaron Weitman’s CastleKnight Management is the leading position holder in the company, with 349,788 shares worth $923,000.

You can also take a look at 11 Undervalued Canadian Stocks To Buy and 10 Best December Dividend Stocks To Buy.