In this article, we discuss the 5 Reddit WallStreetBets stocks that are rising. If you want to read our detailed analysis of these stocks, go directly to the 10 Reddit WallStreetBets Stocks That are Rising.
5. Moderna, Inc. (NASDAQ: MRNA)
Number of Hedge Fund Holders: 39
Percentage Gain in Last Five Days: 12.43%
Moderna, Inc. (NASDAQ: MRNA) is ranked fifth on our list of 10 Reddit WallStreetBets stocks that are rising. The firm is based in Cambridge and markets vaccines developed using messenger RNA. At the end of March this year, the firm had 24 development programs and 13 drugs in clinical trials. On August 5, amid reports of the requirement of booster shot of the COVID-19 vaccine, the company revealed that the vaccine it developed had 93% efficacy six months after the administration of the second dose.
On July 15, investment advisory Jefferies maintained a Hold rating on Moderna, Inc. (NASDAQ: MRNA) stock but raised the price target to $250 from $170, backing the firm to beat market expectations on earnings in the second quarter.
At the end of the first quarter of 2021, 39 hedge funds in the database of Insider Monkey held stakes worth $1.6 billion in Moderna, Inc. (NASDAQ: MRNA), down from 41 in the preceding quarter worth $1.4 billion.
In its Q2 2021 investor letter, Baillie Gifford, an asset management firm, highlighted a few stocks and Moderna, Inc. (NASDAQ: MRNA) was one of them. Here is what the fund said:
“Among the top contributors to Fund performance in the second quarter was Moderna. Moderna has just reported its first profitable quarter in the company’s history – net income for the most recent quarter was $1.2 billion. It reported revenue of $1.9 billion, an impressive increase compared to $8 million a year ago, driven by the sales of its Covid-19 vaccine. Moderna is expecting to deliver up to 1 billion vaccine doses in 2021 and is in discussions to increase global supply to governments around the world. Our long-term focus remains on the transformational potential of Moderna’s technology and its ability to address different diseases.”
4. McAfee Corp. (NASDAQ: MCFE)
Number of Hedge Fund Holders: 17
Percentage Gain in Last Five Days: 13.52%
McAfee Corp. (NASDAQ: MCFE) is a software firm that provides cybersecurity solutions. It is placed fourth on our list of 10 Reddit WallStreetBets stocks that are rising. The company is headquartered in California. In earnings results for the first quarter, posted on May 4, the company reported earnings per share of $0.44, beating market estimates by $0.08. The revenue over the period was $773 million, up 12% compared to the revenue over the same period last year and beating predictions by $40 million.
On June 17, investment advisory Mizuho reiterated a Buy rating on McAfee Corp. (NASDAQ: MCFE) stock and raised the price target to $30 from $28, cites recent appreciation of comp multiples as the reason behind the ratings update.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $174 million in McAfee Corp. (NASDAQ: MCFE), down from 20 in the previous quarter worth $257 million.
3. BioNTech SE (NASDAQ: BNTX)
Number of Hedge Fund Holders: 18
Percentage Gain in Last Five Days: 15.14%
BioNTech SE (NASDAQ: BNTX) is a German biotechnology company that develops and markets therapies for cancer and other serious diseases.
On July 19, investment advisory Wolfe Research initiated coverage of BioNTech SE (NASDAQ: BNTX) with an Outperform rating and a price target of $248, noting the oncology drug pipeline for the firm as a possible growth catalyst.
At the end of the first quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $172 million in BioNTech SE (NASDAQ: BNTX), up from 17 the preceding quarter worth $170 million.
2. Veoneer, Inc. (NYSE: VNE)
Number of Hedge Fund Holders: 13
Percentage Gain in Last Five Days: 23.74%
Veoneer, Inc. (NYSE: VNE) is placed second on our list of 10 Reddit WallStreetBets stocks that are rising. The company operates from Sweden and makes and sells automotive safety electronics. In earnings results for the second quarter, posted on July 23, the firm reported earnings per share of -$0.89, in line with market expectations. The revenue over the period was close to $400 million, up 116% year-on-year. The stock has been surging since late July amid reports of a buyout deal involving Manga International.
On August 1, investment advisory Evercore upgraded Veoneer, Inc. (NYSE: VNE) stock to In Line from Underperform with a price target of $31.25, noting that there was an all-cash takeover bid on the table regarding the firm.
Out of the hedge funds being tracked by Insider Monkey, Sweden-based investment firm Cevian Capital is a leading shareholder in Veoneer, Inc. (NYSE: VNE) with 8 million shares worth more than $196 million.
1. Robinhood Markets, Inc. (NASDAQ: HOOD)
Number of Hedge Fund Holders: N/A
Percentage Gain in Last Five Days: 60.03%
Robinhood Markets, Inc. (NASDAQ: HOOD) is ranked first on our list of 10 Reddit WallStreetBets stocks that are rising. The company owns and runs a financial services platform that is famous for offering low-cost equity trades. The company is based in California. The company went public on July 29 and fetched a valuation of around $29 billion. Some of the trades offered on the Robinhood platform include stocks, exchange-traded funds, options, gold, and cryptocurrencies, among others.
On August 5, investment advisory Wolfe Research initiated coverage of Robinhood Markets, Inc. (NASDAQ: HOOD) stock with a Peer Perform rating and a price target of $45. Steven Chubak, an analyst at the firm, issued the ratings update.
Robinhood Markets, Inc. (NASDAQ: HOOD) has had a volatile run at the market since debuting on the stock market late last month. Trading of the stock has been halted twice in less than a week since then.
You can also take a peek at 15 Best Electric Car Stocks to Buy Now and 10 Real Estate Dividend Stocks to Buy in August 2021.
