5 Stocks That Will Skyrocket

In this piece, we will take a look at five stocks that will skyrocket. If you want to take a deeper look at the stock market and find out about more stocks, check out 10 Stocks That Will Skyrocket.

5. Driven Brands Holdings Inc. (NASDAQ:DRVN)

Number of Hedge Fund Investors In Q1 2023: 18

Driven Brands Holdings Inc. (NASDAQ:DRVN) provides car parts such as radiators, windshields, and other products to auto repair companies. The firm is investing heavily in growth, and it is also a rare stock on our list that is rated Strong Buy on average. It also has a nice $11 share price upside.

After sifting through 943 hedge funds for their first quarter of 2023 shareholdings to find out that 18 had bought Driven Brands Holdings Inc. (NASDAQ:DRVN)’s shares. Israel Englander’s Millennium Management is the company’s largest investor, owning 2.6 million shares that are worth $80 million.

4. Nerdy, Inc. (NYSE:NRDY)

Number of Hedge Fund Investors In Q1 2023: 22

Nerdy, Inc. (NYSE:NRDY) is a digital learning services provider that has a unique business model in its niche that facilitates one on one live learning. It connects learners and tutors to each other using artificial intelligence. The firm’s CEO has also invested heavily in its stock, in a positive sign.

22 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had invested in Nerdy, Inc. (NYSE:NRDY).

3. Digital Realty Trust, Inc. (NYSE:DLR)

Number of Hedge Fund Investors In Q1 2023: 25

Digital Realty Trust, Inc. (NYSE:DLR) is a real estate investment trust that stands to benefit quite heavily from the ongoing wave of investments in artificial intelligence and data centers. This is because it is a technology focused REIT, which provides space to host data centers.

Insider Monkey’s March quarter of 2023 study of 943 hedge fund portfolios discovered that 25 had owned Digital Realty Trust, Inc. (NYSE:DLR)’s shares. The firm’s largest investor in our database is Dmitry Balyasny’s Balyasny Asset Management courtesy of a $106 million investment.

2. Enterprise Products Partners L.P. (NYSE:EPD)

Number of Hedge Fund Investors In Q1 2023: 26

Enterprise Products Partners L.P. (NYSE:EPD) is an oil and gas midstream company that provides equipment and infrastructure to store and deliver the products. Its shares are rated Strong Buy on average, and they have an upside of more than $5.

By the end of this year’s first quarter, 26 of the 943 hedge funds polled by Insider Monkey had invested in the gold company. Enterprise Products Partners L.P. (NYSE:EPD)’s biggest shareholder is Bruce Berkowitz’s Fairholme (FAIRX) with a $108 million stake.

1. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Investors In Q1 2023: 35

Energy Transfer LP (NYSE:ET) is another midstream company with thousands of miles of gas pipelines in its portfolio. Its shares are rated Strong Buy on average, but the income statement is seeing some adjustment after the 2022 energy industry boom.

35 of the 943 hedge funds part of Insider Monkey’s database had bought a stake in Energy Transfer LP (NYSE:ET) as of Q1 2023. David Abrams’ Abrams Capital Management is the largest shareholder through its $222 million investment.

Disclosure: None. You can also take a look at 10 Momentum Stocks Billionaires Are Loading Up On and Dogs of the S&P 500 Strategy: Performance and 10 Current Picks.

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