In this article, we will take a look at some of the best mid-cap stocks that are currently offering at least 100% upside potential to investors. On June 13, CNBC reported that U.S. equities rose as investor sentiment improved amid optimism surrounding a potential peace agreement between the United States and Iran, along with a strong demand for new stock offerings.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all ended the week higher, while oil prices declined as markets monitored developments on a possible agreement that could include lifting oil sanctions and reopening the Strait of Hormuz.

Strong demand for new public offerings has also bolstered investor confidence. According to Mark Klein, CEO and president of SuRo Capital, SpaceX’s IPO could serve as a key sign of future IPO activity, as more businesses think about going public. Several technology stocks posted gains during the session, while Jeff Kilburg, CEO of KKM Financial, said the AI theme continues to strengthen despite recent market volatility.

The strong market performance also reflected continued interest in growth-oriented sectors, particularly technology and artificial intelligence-related investments. With that background, let’s explore our 10 Best Mid-Cap Stocks That Could Double Your Money.

Our Methodology

To identify relevant stocks for this article, we screened U.S.-listed companies with market capitalizations between $2 billion and $10 billion. Also, we only shortlisted stocks with at least 100% upside potential, according to consensus, as of the June 12 close. Finally, we selected 10 stocks with the highest upside and ranked them in ascending order.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).

10. Uranium Energy Corp. (NYSE:UEC)

Uranium Energy Corp. (NYSE:UEC) is one of the 10 best mid-cap stocks that could double your money.

On June 9, Amir Adnani, President and CEO of Uranium Energy Corp. (NYSE:UEC), stated that the company achieved a number of noteworthy milestones during the quarter that reflect on its operational execution capabilities, as well as the size and caliber of its asset portfolio. It initiated production at Burke Hollow, the biggest greenfield ISR uranium project in the U.S. in well over a decade. This is a significant step towards increasing the amount of uranium available domestically.

In order to complement its methodical and controlled growth approach, production for the Christensen Ranch project also began, following the recently installed header houses, while further capacity expansion initiatives are underway. Simultaneously, the company finished engineering programs and delineation drilling at Ludeman, as its next planned ISR uranium facility.

With substantial liquidity, no liability, a sound balance sheet, and an expanding uranium inventory that boosts the implementation of a long-term strategy, the company continues to be in a very good financial position. The management’s decision to maintain inventory levels this quarter is an example of how their unhedged approach allows for flexibility in sales decisions.

These achievements align with a growing national emphasis on nuclear energy, such as DOE’s “Nuclear Dominance – 3 by 33” campaign, which aims to bolster the country’s domestic nuclear fuel supply chain.

Uranium Energy Corp. (NYSE:UEC) is involved in the pre-extraction, extraction, exploration, and processing of titanium and uranium concentrate properties. The company has operations across Canada, the U.S., and the Republic of Paraguay.

9. Figure Technology Solutions Inc. (NASDAQ:FIGR)

Figure Technology Solutions Inc. (NASDAQ:FIGR) is one of the 10 best mid-cap stocks that could double your money.

On June 4, a funding agreement between Figure Technology Solutions Inc. (NASDAQ:FIGR) and Cross River Bank, a provider of technology infrastructure with a focus on embedded financial solutions, was announced. Cross River’s Principal Finance Group has agreed to spend up to $250 million on assets that will support Figure’s Crypto-Backed Loans initiative.

Crypto-backed lending provides many owners of digital assets with a more affordable financing option, according to Noah Cooper, CIO and Head of Capital Solutions Group at Cross River. Without having to sell cryptocurrency assets, the agreement gives Figure committed capital to provide USD liquidity to consumers. Digital assets can be used as collateral by borrowers without giving up ownership.

Cross River’s involvement, according to Figure’s Chief Capital Officer Todd Stevens, is proof of the company’s expansion and uptake. Both companies’ attempts to increase access to financial solutions connected to cryptocurrencies are further supported by the alliance. Stevens stated:

“With Crypto-Backed Loans, we’ve gone from a relatively new idea – to allow borrowing against a highly popular appreciated asset – and we’ve achieved rapid adoption while creating a model that others have followed. Cross River’s involvement is a major proof point underscoring our success so far, as well as our continued upward trajectory.”

Figure Technology Solutions Inc. (NASDAQ:FIGR) is a financial technology company that deploys blockchain-based products and solutions. It offers an exchange for digital assets and credit (i.e., Figure Connect) and delivers a technology-enabled loan origination system paired with a distribution marketplace. The company also has a suite of blockchain-based solutions, such as trading, lending, and investing activities.

8. VNET Group Inc. (NASDAQ:VNET)

VNET Group Inc. (NASDAQ:VNET) is one of the 10 best mid-cap stocks that could double your money.

Back on May 27, while maintaining an Overweight rating and a $16 price target for the stock, Tom Tang from Morgan Stanley picked VNET Group Inc. (NASDAQ:VNET) as his top choice. The analyst claims that since a CATL affiliate was introduced, VNET’s issues related to the shareholders have been mostly fixed. Additionally, he mentioned that 500 megawatt MOUs have led to an increase in forward visibility. According to Tang, based on premium resources, VNET currently carries a first-mover advantage.

Later on June 9, Chinese cloud service providers GDS Holdings Limited (NASDAQ:GDS) and VNET Group Inc. (NASDAQ:VNET) saw increases in their US depositary receipts of approximately 7% and 9%, respectively, as reported by Bloomberg. The report highlighted that China is getting ready to invest $295 billion in data center development nationwide.

A national network of interconnected data centers is now being planned by government agencies, such as the National Development and Reform Commission. According to the sources, Chinese vendors would provide about 80% of the technology, while state-owned companies like China Mobile and China Telecom are anticipated to run the majority of the infrastructure.

VNET Group Inc. (NASDAQ:VNET) is an investment holding company based in China that offers interconnectivity and managed hosting services. It also delivers managed retail and value-added solutions such as firewall, hybrid IT, server management, and standby servers. The company serves various segments such as IT, telecom, finance, gaming, and government entities.

7. Celsius Holdings Inc. (NASDAQ:CELH)

Celsius Holdings Inc. (NASDAQ:CELH) is one of the 10 best mid-cap stocks that could double your money.

On June 12, Bernstein began its coverage of Celsius Holdings Inc. (NASDAQ:CELH) with a price target of $44. An Outperform rating was assigned on the stock, which offers almost 55% upside based on the projected price target.

The firm made a notable mention of Alani Nu, which has the highest potential among the company’s brands. Bernstein also mentioned that potential worries about a drop in market share for the Celsius brand appear to be highly exaggerated.

As long as Alani keeps gaining market share, the firm thinks the portfolio can maintain its position in the United States. Bernstein argues that this will occur due to Alani’s exceptional brand equity, which is backed by the findings of their consumer survey.

Back on May 19, Jefferies maintained its Buy rating and a $71 price target on Celsius Holdings Inc. (NASDAQ:CELH), after analyst Kaumil Gajrawala held meetings with top company executives, including the Chief Executive Officer John Fieldly, Chief of Staff Toby David, and Chief Financial Officer Jarrod Langhans.

Gajrawala stated that recent business concerns appear to be linked with timing rather than being structural in nature, which makes them highly exaggerated. He noted that the company’s core brand, Alani, is now heading towards a new phase. He also acknowledged how the market seems to be underappreciating the brand, despite its strong momentum. He views the recent share price drop as a favorable buying opportunity for investors.

Celsius Holdings Inc. (NASDAQ:CELH) manufactures and distributes functional energy drinks, including hydration sticks, CELSIUS ESSENTIALS, and CELSIUS Hydration. It also offers nutrition and wellness products, and ready-to-drink energy beverages under Alani Nu, Rockstar, and CELSIUS brand names. It distributes its products through drug stores, food service locations, retail stores, distributors, and e-commerce platforms.

6. Karman Holdings Inc. (NYSE:KRMN)

Karman Holdings Inc. (NYSE:KRMN) is one of the 10 best mid-cap stocks that could double your money.

On May 29, Karman Holdings Inc. (NYSE:KRMN) announced the initiation of an underwritten public offering consisting of 13.5 million shares of its common stock, which is being facilitated by specific selling stockholders.

This offering’s execution is still contingent upon current market and customary conditions. Additionally, it has been made clear that Karman is not selling any shares in this deal and will not receive any money from the sale. Rather, the selling stockholders will receive full net proceeds.

Additionally, Citigroup and Evercore ISI have been appointed to serve as the joint book-running managers for the offering.

Back on May 13, Evercore ISI maintained an Outperform rating on Karman Holdings Inc. (NYSE:KRMN) while decreasing the target price from $125 to $100. Despite this downward adjustment, the stock still yields an attractive upside potential in excess of 101% at the current level. Despite the reduction in price target, the firm noted that the company’s first-quarter performance establishes a positive momentum for the remainder of the year.

Karman Holdings Inc. (NYSE:KRMN) designs and sells mission-critical systems such as aerodynamic inter-stage systems, propulsion systems, payload protection, and deployment systems. It serves tactical missile and integrated defense systems, space and launch markets, and hypersonics and strategic missile defense.

Click to continue reading and see the 5 Best Mid-Cap Stocks That Could Double Your Money.

Disclosure: None. Follow Insider Monkey on Google News.