In this article, we discuss the 5 most volatile stocks to buy now. If you want to read about some more volatile stocks, go directly to 15 Most Volatile Stocks to Buy Now.
5. Omnicell, Inc. (NASDAQ:OMCL)
Number of Hedge Fund Holders: 23
52-Week Price Range ($): 46.19 – 187.29
Omnicell, Inc. (NASDAQ:OMCL) provides medication management solutions and adherence tools for healthcare systems and pharmacies in the United States and internationally. It is one of the most volatile stocks to invest in. On October 11, Omnicell noted that it launched Specialty Pharmacy Services to support optimized outpatient medication management. The service is expected to deliver improved access to specialty medicines and expertise to support medication management needs from hospital to home.
On November 3, BTIG analyst David Larsen maintained a Buy rating on Omnicell, Inc. (NASDAQ:OMCL) stock and lowered the price target to $75 from $160, noting that the company missed revenue estimates in recent earnings and the reduced guidance going forward was more severe than feared.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm GLG Partners is a leading shareholder in Omnicell, Inc. (NASDAQ:OMCL) with 47 million shares worth more than $51 million.
In its Q1 2022 investor letter, Carillon Towers Advisers, an asset management firm, highlighted a few stocks and Omnicell, Inc. (NASDAQ:OMCL) was one of them. Here is what the fund said:
“Omnicell (NASDAQ:OMCL) provides an integrated suite of clinical infrastructure and workflow automation solutions for healthcare facilities. Cloud services have been a focus of the company and have shown good growth, automating many manual processes.”
4. Resideo Technologies, Inc. (NYSE:REZI)
Number of Hedge Fund Holders: 20
52-Week Price Range ($): 14.95 – 28.35
Resideo Technologies, Inc. (NYSE:REZI) develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. It is one of the top volatile stocks to invest in. On November 1, Resideo Technologies posted earnings for the third quarter of 2022, reporting earnings per share of $0.42, missing market estimates by $0.14. The revenue over the period was $1.62 billion, up 8% compared to the revenue over the same period last year and missing market estimates by $70 million.
On October 17, Morgan Stanley analyst Erik Woodring maintained an Equal Weight rating on Resideo Technologies, Inc. (NYSE:REZI) stock and lowered the price target to $26 from $32, noting that consumer and enterprise checks deteriorated in Q3.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Ariel Investments is a leading shareholder in Resideo Technologies, Inc. (NYSE:REZI) with 12.8 million shares worth more than $245 million.
In its Q1 2022 investor letter, Ariel Investments, an asset management firm, highlighted a few stocks and Resideo Technologies, Inc. (NYSE:REZI) was one of them. Here is what the fund said:
“During the quarter, Ariel Fund added shares of the leading supplier of residential thermal, comfort, and security solutions, Resideo Technologies, Inc. (NYSE:REZI). While the company has struggled to find its footing since being spun out of Honeywell in 2018, we see early evidence that the new management’s long-term strategic vision is both achievable and not yet being embraced by investors. We view this as an opportunity to own a niche business, well positioned to benefit from the ongoing housing recovery and a secular preference for more connected smart home solutions.”
3. Cardlytics, Inc. (NASDAQ:CDLX)
Number of Hedge Fund Holders: 24
52-Week Price Range ($): 3.50 – 74.23
Cardlytics, Inc. (NASDAQ:CDLX) operates an advertising platform in the United States and the United Kingdom. It is one of the major volatile stocks to invest in. On August 10, BitPay, a cryptocurrency payment provider, revealed that it has added a reward program to its prepaid card with a partnership with cash-back reward platform Cardlytics. Cardlytics is managing the rewards in which BitPay cardholders automatically receive 15% cash back on purchases every time their card is used at participating retailers.
On November 2, Craig-Hallum analyst Jason Kreyer maintained a Hold rating on Cardlytics, Inc. (NASDAQ:CDLX) stock and lowered the price target to $7 from $15, noting that macro conditions have worsened as consumer spending continues to pull back.
Among the hedge funds being tracked by Insider Monkey, Beijing-based investment firm CAS Investment Partners is a leading shareholder in Cardlytics, Inc. (NASDAQ:CDLX) with 5.4 million shares worth more than $50 million.
In its Q3 2021 investor letter, Headwaters Capital, an asset management firm, highlighted a few stocks and Cardlytics, Inc. (NASDAQ:CDLX) was one of them. Here is what the fund said:
“Sells Cardlytics (“CDLX”). The Cardlytics, Inc. (NASDAQ:CDLX) position was sold during the quarter as it had become an opportunity cost in the portfolio. CDLX was in a small position at the beginning of the year and has subsequently underperformed throughout the year due to a couple of poor strategic acquisitions along with a depressed spending environment from its customer base. The acquisitions were particularly concerning given that the company has not articulated a clear strategic rationale for the deals and have delayed the company’s path to profitability given that both of the acquired companies are generating losses. Given the small size of the position and the need for capital for more attractive investment opportunities, the entire CDLX position was sold during the quarter.”
2. Enovix Corporation (NASDAQ:ENVX)
Number of Hedge Fund Holders: 30
52-Week Price Range ($): 7.26 – 39.48
Enovix Corporation (NASDAQ:ENVX) designs, develops and manufactures lithium-ion batteries. It is one of the most volatile stocks to invest in. On November 1, Enovix Corporation disclosed that it has signed a non-binding memorandum of understanding with one of the world’s largest consumer electronic firms. This deal enables the evaluation and prototyping of Enovix batteries for electronics.
On November 2, Cowen analyst Gabe Daoud maintained an Outperform rating on Enovix Corporation (NASDAQ:ENVX) stock and lowered the price target to $25 from $36, noting that a negative knee-jerk reaction is expected as the decision to place more effort on Gen2 improvements v Gen1 will lead to slower-than-expected growth.
At the end of the third quarter of 2022, 30 hedge funds in the database of Insider Monkey held stakes worth $486 million in Enovix Corporation (NASDAQ:ENVX), compared to 23 in the preceding quarter worth $273 million.
1. Rogers Corporation (NYSE:ROG)
Number of Hedge Fund Holders: 30
52-Week Price Range ($): 99.80 – 274.51
Rogers Corporation (NYSE:ROG) designs, develops, manufactures, and sells engineered materials and components worldwide. It is one of the top volatile stocks to invest in. On November 2, Rogers Corp shares were 41% down in premarket trading after Dupont revealed that it had terminated its $5.2 billion acquisition after the parties failed to obtain timely regulatory clearance. Dupont said it has agreed to pay a termination fee of $162.5 million to Rogers.
At the end of the third quarter of 2022, 30 hedge funds in the database of Insider Monkey held stakes worth $623 million in Rogers Corporation (NYSE:ROG), compared to 29 in the preceding quarter worth $631 million.
You can also take a peek at Was Billionaire Jeffrey Talpins Right About These 10 Stocks? and Was David Tepper Right About These 10 Stocks?
