5 Best Momentum Stocks To Invest In

3. Peabody Energy Corporation (NYSE:BTU)

YTD Return as of October 20: 114.02%

Number of Hedge Fund Holders: 29

Peabody Energy Corporation (NYSE:BTU) engages in coal mining operations in the United States and internationally. The stock is up 114% for the year, as of October 20, and is trading at a PE ratio of 4.44. Moreover, Peabody Energy Corporation (NYSE:BTU) is cash-rich and profitable. The company has a trailing twelve-month operating margin of 17% and has free cash flows of $301.7 million. Peabody Energy Corporation (NYSE:BTU) is ranked high among the best momentum stocks to buy now.

At the close of Q2 2022, Peabody Energy Corporation (NYSE:BTU) was spotted on 29 hedge fund portfolios. The collective stakes of these hedge funds in the company amounted to over $867 million. As of June 30, Elliott Management is the leading investor in Peabody Energy Corporation (NYSE:BTU) and has stakes worth more than $550 million in the company.

This October, B. Riley analyst Lucas Pipes raised his price target on Peabody Energy Corporation (NYSE:BTU) to $31 from $28 and maintained a Buy rating on the shares.