10 Best High Volume Penny Stocks to Buy

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1. Transocean Ltd. (NYSE:RIG)

Price: $4.02

Market Capitalization: $4.43 B

Volume: 18,071,724

Average Volume: 44,563,225

Number of Hedge Fund Holders: 55

Transocean Ltd. (NYSE:RIG) is one of the Best High Volume Penny Stocks to Buy. On December 15, Joe Laetsch from Morgan Stanley initiated a Hold rating on the stock and raised the price target from $4 to $4.5. Earlier on December 12, Scott Gruber from Citi also reiterated a Hold rating on the stock and raised the price target from $4.25 to $4.5.

Analysts at Morgan Stanley noted that the energy services stocks have rallied out of the lows. However, this has pushed valuations higher in a market that is characterized by uncertain oil prices. The firm sees shorter cycle North American onshore spending to remain constrained, and Morgan Stanley thinks it’s too early to step into the sector.

In addition, analysts at Citi noted that the updated price target reflects the firm’s adjusted outlook of the oil and gas equipment sector. The firm noted that the industry is at the bottom of a two-year downcycle. In this backdrop, the firm believes that a lack of further negative revisions is expected to drive share performance higher in 2026. Therefore, the firm raised the price target but maintained a Hold rating.

Transocean Ltd. (NYSE:RIG) provides offshore contract drilling services for oil and gas wells worldwide. It contracts out its mobile drilling rigs, equipment, and crews on a day-rate basis, specializing in deepwater and harsh environment operations.

While we acknowledge the potential of RIG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIG and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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