In this article, we will discuss the 12 most buzzing stocks to buy now. If you want to explore similar stocks, you can also take a look at 5 Most Buzzing Stocks To Buy Now.
Inflation is finally showing signs of cooling off. The CPI report for February was in-line with expectations, with the all-items index rising 6% year over year. We also received a positive surprise after the Bureau of Labor Statistics released a better than expected PPI report that shows the producer price index falling 0.1% in February from where it was in January. We also received a negative revision of 0.4% for the PPI data reported in January, now showing that the PPI for the month increased by 0.3% and not 0.7%.
“If They Suddenly Go Zero, It Could Worry The Market”
The economic data at hand and the implosion of SVB have been received by the markets to price in a 25 basis point rate hike at the next FOMC meeting. On March 16 Jeremy Siegel, professor of finance at Wharton, appeared in an interview on CNBC to discuss his view of what the Fed will do, and also what he thinks the Fed should do at the March meeting. Professor Siegel noted that he has been critical of Fed policy since the last 3 quarters and thinks that the situation at Credit Suisse Group AG (NYSE:CS) and the implosion of SVB might give the Fed a reality check and redirect their focus from fighting inflation to preventing an economic downturn.
Professor Siegel thinks that the Fed should not raise rates at the March meeting and he also noted that they should not have raised rates in January either. Professor Siegel noted that the Fed should have redirected their focus earlier on preventing a slowdown, instead of combating inflation. According to professor Siegel the Fed should not raise rates. However, he expects a quarter point rate hike at the March meeting, but with a relatively dovish tone. Professor Siegel expects a 25 bps rate hike because if the Fed abruptly stops its hiking cycle “it could worry the market” and so “a more measured way of doing it is 25 (bps) with a pause”.
The stock market is increasingly volatile right now, as the ramifications of SVB have spelled trouble for the global banking industry and inflation remains hot. In times like these, it can become difficult for investors to find opportunities in the market. One thing investors can do is look at stocks that are buzzing and experiencing high trading volumes, since these stocks are attracting investor interest. Some of the most popular stocks among elite money managers that are creating a lot of buzz on Wall Street right now include Advanced Micro Devices, Inc. (NASDAQ:AMD), Bank of America Corporation (NYSE:BAC), and Tesla, Inc. (NASDAQ:TSLA). Let’s look at these stocks, among others, in detail below.
Photo by Ruben Sukatendel on Unsplash
Our Methodology
To determine the most buzzing stocks to buy now, we sifted through Yahoo Finance’s list of stocks that are experiencing high trading volumes. We looked at the analyst and investor sentiment for each stock and narrowed down our selection to stocks that are the most widely held by elite hedge funds, have positive analyst sentiment, and have the highest intraday trading volume on average, as of March 15. We have ranked these stocks in ascending order of their intraday trading volume.
12 Most Buzzing Stocks To Buy Now
12. NVIDIA Corporation (NASDAQ:NVDA)
Volume as of March 15: 52.44 million
Average Volume (3-Month): 48.22 million
Number of Hedge Fund Holders: 106
GPU maker NVIDIA Corporation (NASDAQ:NVDA) is creating a lot of buzz on Wall Street today. As of March 15, the stock has an intraday trading volume of 52.44 million and a 3-month average trading volume of 48.22 million.
On March 1, Raymond James started coverage of NVIDIA Corporation (NASDAQ:NVDA) with a Strong Buy rating and a $290 price target. The stock is one of the most buzzing stocks to buy now according to analysts and hedge funds.
NVIDIA Corporation (NASDAQ:NVDA) was held by 106 hedge funds at the end of Q4 2022. These funds disclosed stakes worth $6.08 billion in the company, up from $4.29 billion in the previous quarter with 89 positions. The hedge fund sentiment for the stock is positive. As of December 31, Matrix Capital Management is the most prominent shareholder in the company and has a stake worth $741.3 million.
Here is what ClearBridge Investments had to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2022 investor letter:
“Promoting diversification and managing risk continue to guide our transaction activity, with a focus on the earnings trajectory of existing and potential holdings leading to our most recent moves. We are directing our research efforts to identifying names that are closer to the bottom than the top in terms of earnings and valuations, adding to our positions in ASML, the leading supplier of high-end production equipment to chip makers, and NVIDIA Corporation (NASDAQ:NVDA), whose valuation has washed out due to weakness in gaming and crypto mining as well as slowing enterprise spending.”
11. Transocean Ltd (NYSE:RIG)
Volume as of March 15: 53.90 million
Average Volume (3-Month): 23.76 million
Number of Hedge Fund Holders: 41
This February, Susquehanna analyst Charles Minervino raised his price target on Transocean Ltd (NYSE:RIG) to $6 from $5.50 and maintained a Neutral rating on the shares. As of March 15, the stock has a 3-month average trading volume of 23.76 million and its intraday volume on March 15 exceeded 53.90 million. The stock is one of the most buzzing stocks on Wall Street right now.
At the end of Q4 2022, 41 hedge funds were long Transocean Ltd (NYSE:RIG) and disclosed positions worth $696.4 million in the company. This is compared to 36 hedge funds in the previous quarter with stakes worth $302.1 million. The hedge fund sentiment for the stock is positive.
As of December 31, D E Shaw is the largest investor in Transocean Ltd (NYSE:RIG) and holds a position worth $159.15 million in the company.
10. KeyCorp (NYSE:KEY)
Volume as of March 15: 58.23 million
Average Volume (3-Month): 15.50 million
Number of Hedge Fund Holders: 33
KeyCorp (NYSE:KEY) was held by 33 hedge funds at the end of Q4 2022. These funds disclosed collective stakes worth $582 million in the company. this is compared to 33 positions in the previous quarter with stakes worth $454.3 million. As of December 31, Adage Capital Management is the most prominent shareholder in the company and has a stake worth $128.45 million.
KeyCorp (NYSE:KEY) has a 3-month average trading volume of 15.50 million, as of March 15. The stock is creating a lot of buzz on Wall Street and on March 15, the stock experienced an intraday trading volume of 58.23 million. KeyCorp (NYSE:KEY) is placed tenth among the most buzzing stocks to buy now.
This March, Baird analyst David George upgraded KeyCorp (NYSE:KEY) to Outperform from Neutral and reiterated his price target of $20 on the shares.
9. Itaú Unibanco Holding S.A. (NYSE:ITUB)
Volume as of March 15: 65.81 million
Average Volume (3-Month): 31.57 million
Number of Hedge Fund Holders: 18
Itaú Unibanco Holding S.A. (NYSE:ITUB) is experiencing high levels of activity. On March 15, the stock experienced an intraday trading volume of 65.81 million. On February 9, Grupo Santander analyst Henrique Navarro upgraded Itaú Unibanco Holding S.A. (NYSE:ITUB) to Outperform from Neutral and reiterated his price target of $5.70 on the stock.
At the close of the fourth quarter of 2022, 18 hedge funds held stakes in Itaú Unibanco Holding S.A. (NYSE:ITUB). These funds disclosed collective positions worth $500.9 million in the company, up from $496.7 million in the previous quarter with 16 positions. The hedge fund sentiment for the stock is positive.
As of December 31, Orbis Investment Management is the leading investor Itaú Unibanco Holding S.A. (NYSE:ITUB) and has a stake worth $77.6 million in the company.
Here is what Ariel Investments had to say about Itaú Unibanco Holding S.A. (NYSE:ITUB) in its Q4 2022 investor letter:
“We initiated two new positions in the quarter. Macro-uncertainty also presented us an opportunity to buy shares of Brazilian financial services company, Itaú Unibanco Holding S.A. (NYSE:ITUB). The company is led by a dynamic CEO, who is utilizing technology in the private banking sector as part of a broader move towards digitization. This strategy is not only reducing distribution costs, but is enabling the creation of new products in high market share areas such as private banking, credit cards, as well as small- and medium-size business lending. An attractive valuation, strong net interest margins and high return on equity are among the attributes motivating our purchase of shares.”
8. Amazon.com, Inc. (NASDAQ:AMZN)
Volume as of March 15: 70.73 million
Average Volume (3-Month): 69.76 million
Number of Hedge Fund Holders: 240
Amazon.com, Inc. (NASDAQ:AMZN) was a part of 240 investors’ portfolios at the end of Q4 2022 that held collective stakes worth $27.5 billion in the company. Of those, Harris Associates was the top shareholder in the company and disclosed a position worth $1.62 billion in the company.
On February 14, Loop Capital analyst Rob Sanderson maintained a Buy rating and his $140 price target on Amazon.com, Inc. (NASDAQ:AMZN). As of March 15, the stock has gained over 15% year to date and has an intraday trading volume of 70.73 million.
Here is what Artisan Partners had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer. The company has gone through a period of massive investment as it doubled its fulfillment network and hired over 800,000 people to meet growing demand over the past few years. Capital expenditure (capex) in the 2017 to 2019 period was $10 billion – $17 billion per year before ramping up to $40 billion in 2020, $61 billion in 2021 and is expected to end 2022 at another $61 billion. We believe the company is in the later innings of this capex cycle and will be transitioning toward a period of harvesting those investments through higher margins and free cash flow generation. At a valuation that appears to be discounting a deteriorating environment for consumer spending, we decided to start a GardenSM position.”
Stocks that are buzzing on Wall Street today include Amazon.com, Inc. (NASDAQ:AMZN), Advanced Micro Devices, Inc. (NASDAQ:AMD), Bank of America Corporation (NYSE:BAC), and Tesla, Inc. (NASDAQ:TSLA).
7. Huntington Bancshares Incorporated (NASDAQ:HBAN)
Volume as of March 15: 71.16 million
Average Volume (3-Month): 16.44 million
Number of Hedge Fund Holders: 32
Huntington Bancshares Incorporated (NASDAQ:HBAN) is experiencing high levels of activity. The stock experienced an intraday trading volume of 71.16 million on March 15, well-above its 3-month average trading volume of 16.44 million. Huntington Bancshares Incorporated (NASDAQ:HBAN) is placed seventh on our list of the most buzzing stocks to buy now according to analysts and hedge funds.
This March, RBC Capital revised its price target on Huntington Bancshares Incorporated (NASDAQ:HBAN) to $16 from $18 and maintained an Outperform rating on the shares.
At the close of Q4 2022, Huntington Bancshares Incorporated (NASDAQ:HBAN) was held by 32 hedge funds that disclosed positions worth $224.6 million in the company. This is compared to 23 positions in the preceding quarter with stakes worth $168.3 million. As of December 31, Ken Griffin’s Citadel Investment Group is the largest stockholder in the company and holds a position worth $107.8 million.
Here is what Aristotle Capital Boston, LLC had to say about Huntington Bancshares Incorporated (NASDAQ:HBAN) in its Q3 2022 investor letter:
“Huntington Bancshares Incorporated (NASDAQ:HBAN), an Ohio-based bank holding company, was removed from the portfolio based on our belief that shares were fully valued and there were better opportunities to deploy capital elsewhere within the portfolio.”
6. Apple Inc. (NASDAQ:AAPL)
Volume as of March 15: 77.16 million
Average Volume (3-Month): 70.67 million
Number of Hedge Fund Holders: 135
Wall Street is bullish on Apple Inc. (NASDAQ:AAPL) and the stock has been creating a lot of buzz in recent days. On March 14, Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and his $190 price target on Apple Inc. (NASDAQ:AAPL). As of March 15, Apple Inc. (NASDAQ:AAPL) has gained over 24% year to date and has an intraday trading volume of 77.16 million.
At the end of the fourth quarter of 2022, 135 hedge funds were long Apple Inc. (NASDAQ:AAPL) and disclosed stakes worth $136.3 billion in the company. Of those, Warren Buffett’s Berkshire Hathaway is the leading investor in the company and holds a position worth $116.30 billion.
Here is what Distillate Capital had to say about Apple Inc. (NASDAQ:AAPL) in its third-quarter 2022 investor letter:
“The largest new purchase was Apple Inc. (NASDAQ:AAPL), which after underperforming saw its valuation improve significantly. Over the course of the last year, Apple’s consensus estimated forward free cash flows rose modestly, while its enterprise value fell by around 30%. Apple ranks below the 25th most attractive name in the portfolio and so its weight is capped at 4% vs. 6% for names in the top quartile.”
In addition to Apple Inc. (NASDAQ:AAPL), other stocks that are experiencing high levels of activity and are on the radars of investors and analysts include Advanced Micro Devices, Inc. (NASDAQ:AMD), Bank of America Corporation (NYSE:BAC), and Tesla, Inc. (NASDAQ:TSLA).
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Disclosure: None. 12 Most Buzzing Stocks To Buy Now is originally published on Insider Monkey.