In this article, we discuss 5 most active stocks to buy now. If you want to see more stocks in this list, click 10 Most Active Stocks To Buy Now.
5. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders: 57
Volume as of May 11: 66 million
Coinbase Global, Inc. (NASDAQ:COIN) is one of the most active stocks as of May 11, with a trading volume of 66 million. Coinbase Global, Inc. (NASDAQ:COIN) offers financial infrastructure and technology for the global crypto universe.
Coinbase Global, Inc. (NASDAQ:COIN) posted its financial results for the first fiscal quarter of 2022. The company reported a loss per share of $1.26, behind analysts’ estimates by $2.17. The $1.17 billion revenue dropped 35.24% year-over-year, missing Street estimates by $309.61 million.
On May 11, Needham analyst John Todaro maintained a Buy rating on Coinbase Global, Inc. (NASDAQ:COIN) but lowered the price target to $173 from $360. The company missed expectations with its Q1 revenue and trading volumes declined notably, the analyst tells investors in a research note. While he cut his FY 2022 estimates due to ongoing weakness in retail trading volumes, he “remains excited” about the longer term growth opportunities for Coinbase Global, Inc. (NASDAQ:COIN), as well as the blockchain rewards and cloud subscription services.
According to Insider Monkey’s database, 57 hedge funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN) at the end of December 2021, compared to 50 funds in the last quarter. Cathie Wood’s ARK Investment Management is the leading shareholder of the company, with 5.45 million shares worth about $1.4 billion.
Here is what Longleaf Partners Fund has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2021 investor letter:
“We also have seen plenty of IPO/SPAC craziness showing both that private players need public markets more than they admit and that there is more volatility embedded in these newer companies than a private quarterly mark might admit. As for how efficient both the private and public markets are, we would encourage you to really delve into some of those multi-hundred-page S1s for many of the newest public companies to see the huge gap between the last valuation at which the company was funded and/or granted shares to its executives and the often much higher price at which the company went public – Coinbase is a prime example.”
4. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 69
Volume as of May 11: 135.9 million
One of the most actively traded securities on Wall Street as of May 11 was Advanced Micro Devices, Inc. (NASDAQ:AMD), with the volume reaching approximately 136 million. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company.
On May 3, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced its Q1 financial results, posting earnings per share of $1.13, beating market estimates by $0.20. Revenue for the period grew about 71% year-over-year to $5.89 billion, outperforming analysts’ consensus estimates by $313.37 million.
Craig-Hallum analyst Christian Schwab on May 4 maintained a Buy recommendation on Advanced Micro Devices, Inc. (NASDAQ:AMD) but lowered the firm’s price target on the shares to $130 from $160 on decreased valuation multiple. The analyst observed that Advanced Micro Devices, Inc. (NASDAQ:AMD) posted another solid quarter and reaffirmed expectations for strength to continue.
Among the hedge funds tracked by Insider Monkey, 69 funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of Q4 2021, up from 65 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the leading shareholder of the company, with about 20 million shares worth $2.8 billion.
Here is what Carillon Tower Advisers has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter:
“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”
3. Palantir Technologies Inc. (NYSE:PLTR)
Number of Hedge Fund Holders: 33
Volume as of May 11: 72 million
Palantir Technologies Inc. (NYSE:PLTR) is a Colorado-based company that develops and deploys software platforms in the United States to assist public and government agencies in counterterrorism operations. About 72 million Palantir Technologies Inc. (NYSE:PLTR) shares were traded on May 11, making it one of the most active stocks to buy now.
Palantir Technologies Inc. (NYSE:PLTR) on May 9 posted earnings for Q1, reporting an EPS of $0.02, missing consensus estimates by $0.02. Revenue for the period grew 30.81% year-over-year to $446.36 million, topping Street forecasts by $2.85 million.
On May 10, Deutsche Bank analyst Brad Zelnick reiterated a Hold rating on Palantir Technologies Inc. (NYSE:PLTR) and lowered the firm’s price target on the shares to $11 from $15 following the “mixed” Q1 results. While the core metrics “were fine”, backlog growth decelerated significantly and Q2 guidance was below Street estimates, the analyst told investors.
According to Insider Monkey’s fourth quarter database, 33 hedge funds held long positions in Palantir Technologies Inc. (NYSE:PLTR), with collective stakes worth $1.2 billion, compared to 35 funds in the last quarter, holding stakes in the company valued at $1.6 billion. Ken Griffin’s Citadel Investment Group is a significant shareholder of the company, with 7.7 million shares worth about $141 million.
Here is what Tao Value has to say about Palantir Technologies Inc. (NYSE:PLTR) in its Q4 2021 investor letter:
“We have no new position this quarter and have made below changes to our portfolio. We also sold Palantir (PLTR) as I identified it subject to high retail bubble risk (using above method) and are not part of our core “Mindful Compounder” holdings.”
2. NIO Inc. (NYSE:NIO)
Number of Hedge Fund Holders: 30
Volume as of May 11: 85.1 million
NIO Inc. (NYSE:NIO) is a manufacturer of smart electric vehicles from China, focusing its portfolio mainly on electric SUVs and smart electric sedans. NIO Inc. (NYSE:NIO) was one of the most active stocks on Wall Street, with a trading volume of 85.1 million on May 11.
On May 2, NIO Inc. (NYSE:NIO) reported total April sales of 5,074 units, slipping 49% month-over-month and 29% year-over-year. Morgan Stanley analyst Tim Hsiao noted that NIO Inc. (NYSE:NIO)’s vehicle production and delivery were “severely affected” by supply chain tightness given COVID-19 lockdowns in China. The analyst said that investors will likely keep a close watch on the resumption progress after May holidays in China, keeping an Overweight rating and a $34 price target on NIO Inc. (NYSE:NIO) shares.
According to Insider Monkey’s data, NIO Inc. (NYSE:NIO) was found in the public stock portfolios of 30 hedge funds, with combined stakes of $813.6 million. Ray Dalio’s Bridgewater Associates is a significant shareholder of the company, with more than 3 million shares worth $97.20 million.
1. Zynga Inc. (NASDAQ:ZNGA)
Number of Hedge Fund Holders: 47
Volume as of May 11: 62.2 million
Zynga Inc. (NASDAQ:ZNGA) was founded in 2007 and is headquartered in San Francisco, California. The company operates as a developer of social games in the United States and internationally. Zynga Inc. (NASDAQ:ZNGA) is one of the most actively traded stocks as of May 11, with a volume of 62.2 million.
Zynga Inc. (NASDAQ:ZNGA) reported on May 9 earnings for the first fiscal quarter of 2022. The company announced an EPS of $0.09, beating estimates by $0.01. The $691.20 million revenue fell short of analysts’ predictions by $38.88 million.
On April 19, Goldman Sachs analyst Eric Sheridan assumed coverage of Zynga Inc. (NASDAQ:ZNGA) with a Not Rated rating. The analyst assumed coverage of 10 companies in the interactive entertainment sector.
According to Insider Monkey’s Q4 data, 47 hedge funds were bullish on Zynga Inc. (NASDAQ:ZNGA), compared to 52 funds in the earlier quarter. Ric Dillon’s Diamond Hill Capital held the biggest stake in the company, with 25.3 million shares worth over $162 million.
Here is what ClearBridge Mid Cap Growth Strategy has to say about Zynga Inc. (NASDAQ:ZNGA) in its Q3 2021 investor letter:
“A handful of our rapid growers hit tough earnings comparisons over the summer after experiencing a surge in demand in the second quarter of 2020 as companies moved to remote work and consumers were confined to their homes. Zynga, which develops games played on social and mobile platforms, experienced a significant uptick in new customers last year but has not seen as much retention and gaming usage as the economy has reopened.”
You can also take a look at 10 Fertilizer Stocks to Buy Today and 10 Commodity Dividend Stocks With Over 4% Yield.
