15 Best High Volume Stocks to Buy Now
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In this article, we discuss the 15 best high volume stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best High Volume Stocks to Buy Now.
In May this year, the chief of the United States Securities and Exchange Commission Chair Gary Gensler appeared before the House Committee on Financial Services and unleashed a strongly-worded tirade against what he termed was the gamification of the stock market by internet applications that market user-friendly equity trading. Gensler underlined conflicts of interests for traders that profited on high-volume trades through these platforms. The SEC chief called for regulations on these apps, joining a call made by Senator Elizabeth Warren earlier.
Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), one of the apps that Gensler took to the cleaners in his testimony, recently debuted on the stock market, raising $2 billion on the first day of trading at a market valuation of close to $30 billion. Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD) is a platform that boasts a user base of around 22 million and reported a second quarter revenue of close to $550 million. It is mostly frequented by retail investors who trade in high volume stocks.
According to a report by investment bank Goldman Sachs, even as meme stocks register their worst crash in months, the retail investor boom in the market is just beginning and will bring in close to $400 billion into the market this year. Some of the high volume stocks popular with these investors presently include Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), among others that are discussed below. The influx of these retail investors has transformed market dynamics in the past few months.
The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017. Between March 2017 and May 29th 2021 our monthly newsletter’s stock picks returned 206.8%, vs. 91.0% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
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With this context in mind, here is our list of the 15 best high volume stocks to buy now. These were ranked keeping in mind the stock volume, analyst ratings, hedge fund sentiment, and basic business fundamentals.
Best High Volume Stocks to Buy Now
15. Tilray, Inc. (NASDAQ: TLRY)
Number of Hedge Fund Holders: 21 Volume: 46 million
Tilray, Inc. (NASDAQ: TLRY) is ranked fifteenth on our list of 15 best high volume stocks to buy now. The stock has returned 108% to investors over the course of the past twelve months. The company markets cannabis-related products. It is based in Canada. The company stands to benefit from a recent proposal that would legalize marijuana. The CEO of the firm, Irwin Simon, has already said he expects the US to legalize cannabis at a federal level within the next two years.
On July 28, investment advisory Roth Capital reiterated a Neutral rating on Tilray, Inc. (NASDAQ: TLRY) with a price target of $25, noting that the firm looked set for consolidation after a merger with Aphria.
At the end of the first quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $257 million in Tilray, Inc. (NASDAQ: TLRY), up from 17 in the previous quarter worth $47 million.
Just like Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), Tilray, Inc. (NASDAQ: TLRY) is one of the best high volume stocks to buy now.
14. NIO Inc. (NYSE: NIO)
Number of Hedge Fund Holders: 28 Volume: 46 million
NIO Inc. (NYSE: NIO) is a China-based electric carmaker. It is ranked fourteenth on our list of 15 best high volume stocks to buy now. The company’s shares have returned 256% to investors in the past year. The firm is one of the largest EV makers in the world and looks set to benefit from a recent European proposal that will ban the internal combustion engine in the region by 2035. Even though the firm has so far avoided a Chinese government crackdown on dual-listed firms, concerns around dual-listed EV stocks are beginning to grow in Beijing.
On July 9, investment advisory HSBC upgraded NIO Inc. (NYSE: NIO) stock to Buy from Hold and raised the price target to $69 from $54. The company recently posted record vehicle delivery numbers for the month of June.
At the end of the first quarter of 2021, 28 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in NIO Inc. (NYSE: NIO), down from 34 in the preceding quarter worth $2.6 billion.
In its Q2 2020 investor letter, McLain Capital, an asset management firm, highlighted a few stocks and NIO Inc. (NYSE: NIO) was one of them. Here is what the fund said:
“Nio, Inc. (NIO): It’s stock up 360% since the beginning of June on no news, and one of our more troublesome short positions, the Chinese electric vehicle manufacturer is valued at a whopping $17bln on trailing revenue of only $1.1bln. In 2019, the business ran a -17% gross margin, a -140% EBITDA margin & burned ~$1.5bln in cash in 2019. The stock has become one of the most popular stocks among retail traders with approximately 250,000 accounts holding the name just on the popular Robinhood trading platform.”
13. Uber Technologies, Inc. (NYSE: UBER)
Number of Hedge Fund Holders: 130 Volume: 50 million
Uber Technologies, Inc. (NYSE: UBER) is a technology company headquartered in California and founded in 2009. It owns and runs a ride hailing and food delivery business. It is ranked thirteenth on our list of 15 best high volume stocks to buy now. The stock has returned more than 47% to investors over the past twelve months. In earnings results for the first quarter, posted on May 5, the firm reported earnings per share of -$0.06 for the first three months of 2021, beating market expectations by $0.49. The revenue over the period was $2.9 billion, down 10.8% year-on-year.
Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Altimeter Capital Management is a leading shareholder in the firm with 28 million shares worth more than $1.5 billion.
Alongside Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), Uber Technologies, Inc. (NYSE: UBER) is one of the best high volume stocks to buy now.
RiverPark Advisors, LLC, in its Q4 2020 investor letter, mentioned Uber Technologies, Inc. (NYSE: UBER). Here is what the fund has to say in its letter:
“UBER was also a strong contributor, as shares rallied following the approval of California’s Proposition 22 by voters, allowing the company’s California-based drivers to remain independent contractors (rather than become more expensive employees). We believe this news is not just about the 10%-15% of Uber’s revenue tied to California, but the influence this will have on other states reassessing driver pay. UBER also reported strong third quarter results with Delivery Gross Bookings growing 135% year-over-year which nearly fully offset a reduction in Mobility Gross Bookings, which were down 50% year over year. Total Gross Bookings for the quarter were down only 10% year over year as compared with down 35% last quarter.
12. Cleveland-Cliffs Inc. (NYSE: CLF)
Number of Hedge Fund Holders: 36 Volume: 51 million
Cleveland-Cliffs Inc. (NYSE: CLF) is placed twelfth on our list of 15 best high volume stocks to buy now. The company’s shares have returned 379% to investors over the past twelve months. The firm makes and sells steel products and is based in Ohio. On July 22, the firm posted earnings results for the second quarter, reporting earnings per share of $1.46 and a revenue of $5 billion. The revenue for the second quarter was up a whopping 358% compared to the revenue over the same period last year and beat market estimates by $50 million.
On July 29, investment advisory B Riley maintained a Buy rating on Cleveland-Cliffs Inc. (NYSE: CLF) stock and raised the price target to $36 from $35, noting that the firm had redeemed $1.2 billion worth of shares at an attractive valuation.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Cleveland-Cliffs Inc. (NYSE: CLF) with 13 million shares worth more than $262 million.
11. General Electric Company (NYSE: GE)
Number of Hedge Fund Holders: 68 Volume: 53 million
General Electric Company (NYSE: GE) stock has returned 118% to investors over the past year. It is ranked eleventh on our list of 15 best high volume stocks to buy now. The firm markets high-tech industrial products and is headquartered in Boston. In earnings results for the second quarter, posted on July 27, the firm reported earnings per share of $0.05, beating market predictions by $0.02. The revenue over the period was $18 billion, up close to 9% year-on-year and beating estimates by $340 million.
On May 19, investment advisory Barclays reiterated an Overweight rating on General Electric Company (NYSE: GE) stock and raised the price target to $16 from $15, highlighting the growth prospects for the firm on improving aviation data.
At the end of the first quarter of 2021, 68 hedge funds in the database of Insider Monkey held stakes worth $6.1 billion in General Electric Company (NYSE: GE), down from 69 in the previous quarter worth $5.6 billion.
In addition to Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), General Electric Company (NYSE: GE) is one of the best high volume stocks to buy now.
In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and General Electric Company (NYSE: GE) was one of them. Here is what the fund said:
“General Electric is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”
10. PG&E Corporation (NYSE: PCG)
Number of Hedge Fund Holders: 65 Volume: 54 million
PG&E Corporation (NYSE: PCG) is a California-based company that sells electricity and natural gas. It is placed tenth on our list of 15 best high volume stocks to buy now. The firm was founded in 1905 and has a market cap of over $18 billion. It posted more than $18 billion in revenue last year. On July 1, the firm announced that it had asked regulators in the state for an electricity rate hike that would fund $3.6 billion in wildfire safety over three years beginning 2023. The proceeds are part of a $10 billion plan on prevention work around electric grids.
On May 14, investment advisory Mizuho maintained a Buy rating on PG&E Corporation (NYSE: PCG) stock and raised the price target to $16 from $15, underlining a potential delay in anticipated issuance of securitization bonds.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Third Point is a leading shareholder in PG&E Corporation (NYSE: PCG) with 82.9 million shares worth more than $971 million.
In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and PG&E Corporation (NYSE: PCG) was one of them. Here is what the fund said:
“During the period we purchased a new holding – PG&E Corporation – the California based utility (PCG). We expect that contrarian special situations will continue to (opportunistically) be an important part of the portfolio. After all, we bought PCG – which has filed Ch. 11 twice related to prior exposure to wildfire liabilities and staggering mismanagement – right in the middle of California’s recent heavy wildfire season. Our thinking here is that the reorganized utility has new regulatory protections that significantly reduces wildfire liability exposure, an above average rate growth profile and potentially much better management – they were searching for a new CEO when we made our investment. We purchased the stock at a high single digit forward earnings multiple, a discount to its peers that trade in the mid to high teens. Shortly after our purchases PG&E hired the well regarded Patti Poppe as their new CEO – we like this decision.”
9. Apple Inc. (NASDAQ: AAPL)
Number of Hedge Fund Holders: 127 Volume: 56 million
Apple Inc. (NASDAQ: AAPL) is ranked ninth on our list of 15 best high volume stocks to buy now. The stock has offered investors returns exceeding 37% over the course of the past year. The company makes and sells electronic products and is headquartered in California. On July 27, the firm posted earnings for the third quarter, reporting earnings per share of $1.30, beating market predictions by $0.29. The revenue over the period was more than $81 billion, up 36% year-on-year and beating estimates by a whopping $7.9 billion.
On July 28, investment advisory Loop Capital reiterated a Buy rating on Apple Inc. (NASDAQ: AAPL) stock and raised the price target to $165 from $150, noting that the firm was positioned for a stronger than expected second half of the year.
At the end of the first quarter of 2021, 127 hedge funds in the database of Insider Monkey held stakes worth $130 billion in Apple Inc. (NASDAQ: AAPL), down from 146 in the preceding quarter worth $142 billion.
Just like Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), Apple Inc. (NASDAQ: AAPL) is one of the best high volume stocks to buy now.
In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ: AAPL) was one of them. Here is what the fund said:
“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”
8. AMC Entertainment Holdings, Inc. (NYSE: AMC)
Number of Hedge Fund Holders: 19 Volume: 58 million
AMC Entertainment Holdings, Inc. (NYSE: AMC) is a Kansas-based movie theatre chain. It is placed eighth on our list of 15 best high volume stocks to buy now. The company’s shares have offered investors returns exceeding 843% over the course of the past twelve months. On July 20, the share price of the company jumped close to 25% after social media chatter around the company on forums such as WallStreetBets on Reddit and StockTwits. The spike came after reports indicated the firm was planning two new cinemas in Los Angeles in the coming months.
On June 10, S&P Global Ratings raised the rating on AMC Entertainment Holdings, Inc. (NYSE: AMC) stock to CCC+ from CCC- and noted that the firm had a positive outlook based on the capital raises so far this year, with the latest one bringing in $818 million.
At the end of the first quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $34 million in AMC Entertainment Holdings, Inc. (NYSE: AMC), up from 16 in the preceding quarter worth $24 million.
In its Q4 2020 investor letter, Mittleman Investment Management LLC, an asset management firm, highlighted a few stocks and AMC Entertainment Holdings, Inc. (NYSE: AMC) was one of them. Here is what the fund said:
“AMC Entertainment (AMC) was our only material loser in Q4, dropping from $4.71 to $2.12 (-55%). I planned on discussing here why it was worth at least the $10 per share that my recently reduced estimate of fair value claimed, but since then AMC raised more cash against their UK holdings and then the stock took off due to speculative players from reddit.com getting involved, so we sold it all around $14 during the last week of Jan. 2021. This was a modest profit for most clients, but a loss for some others, depending on when the account began, so check your statements to see where you came out. And yes, I recognize it as being a dose of good luck, which I heartily accept from the universe as it seemed somewhat lacking in the portfolio of late. After the sale of AMC in late January 2021, our exposure to the movie theater business is now exclusively in Canada via Cineplex, which has a 75% market share and much less leverage on its balance sheet.”
7. Xenetic Biosciences, Inc. (NASDAQ: XBIO)
Number of Hedge Fund Holders: 2 Volume: 59 million
Xenetic Biosciences, Inc. (NASDAQ: XBIO) stock has returned 352% to investors over the past twelve months. It is ranked seventh on our list of 15 best high volume stocks to buy now. The company is based in Framingham and focuses on the development of products related to a personalized antigen receptor technology named XCART that targets patient-specific tumor neoantigens. On July 26, the share price of the firm jumped 45% after it announced that it had entered into a private placement worth $12.5 million.
Earlier this year, investment advisory HC Wainwright maintained a Buy rating on Xenetic Biosciences, Inc. (NASDAQ: XBIO) stock and raised the price target to $5 from $2, noting that the firm could expect a boost from the new XCART program.
At the end of the first quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $749,000 in Xenetic Biosciences, Inc. (NASDAQ: XBIO), down from 1 in the previous quarter worth $347,000.
Alongside Robinhood Markets, Inc. Class A Common Stock (NASDAQ: HOOD), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Ford Motor Company (NYSE: F), Xenetic Biosciences, Inc. (NASDAQ: XBIO) is one of the best high volume stocks to buy now.
6. Nokia Corporation (NYSE: NOK)
Number of Hedge Fund Holders: 21 Volume: 71 million
Nokia Corporation (NYSE: NOK) is placed sixth on our list of 15 best high volume stocks to buy now. The company’s shares have returned 26% to investors over the past twelve months. The firm is based in Finland and makes and sells mobile and fixed network solutions. On July 29, the firm posted earnings results for the second quarter, reporting earnings per share of €0.09, in line with market estimates. The revenue over the period was €5.3 billion, up 4% year-on-year and beating estimates by €150 million.
On July 30, investment advisory Cowen upgraded Nokia Corporation (NYSE: NOK) stock to Outperform from Market Perform. The price target on the shares was also raised to $8 from $5. Paul Silverstein, an analyst at the firm, issued the ratings update.
At the end of the first quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $352 million in Nokia Corporation (NYSE: NOK), up from 19 in the previous quarter worth $186 million.
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Disclose. None. 15 Best High Volume Stocks to Buy Now is originally published on Insider Monkey.