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In this article, we will discuss the 14 best most active stocks to buy now. If you want to explore similar stocks, you can also take a look at 5 Best Most Active Stocks To Buy Now.
The stock market is feeling the reverberations of the Fed's aggressive rate hikes. As of October 10, the S&P 500 has lost 24.5% since the beginning of 2022, the Nasdaq composite is down 33.3% for the year, and the Dow has tanked by over 19% year to date. The Fed has signaled that it will remain hawkish until inflation is tamed, even if it throws the economy in a recession. Analysts at major banks are slashing their market forecasts in anticipation of a recession. On October 3, Reuters reported that both Credit Suisse and Citigroup slashed their forecasts for the S&P 500. Credit Suisse analysts see the S&P 500 falling to 3,850 points by the end of 2022, down 10% from its prior target. Citigroup cut its target for the S&P 500 by 4% and said that it sees the S&P 500 reaching 4,000 points by year-end. On October 10, billionaire entrepreneur and CEO of JPMorgan Chase, James Dimon, appeared in an interview on CNBC where he revealed that he sees the S&P 500 losing an additional 20% from current levels by year-end, which implies the S&P 500 falling to below 3000 points. Jamie Dimon said that unexpectedly high interest rates, quantitative tightening, and the Ukraine war can push the U.S. economy into a recession in 2023. Here are some comments from Jamie Dimon about where he sees the S&P 500 hitting a trough:
"It really depends on that 'soft landing' (mild recession) or 'hard landing' (severe recession) thing. Since I don't know the answer to that, it's hard for me to answer that. But it could be another easy 20%. And I think the next 20% will be much more painful than the first, rates going up another 100 basis points will be a lot more painful than the first 100, because people aren't used to it..."
The stock market is in turmoil and is highly volatile. With interest rates and bond yields going up, equity investors are being cautious about their investment choices. In confusing, turbulent, and volatile times like these, investors can gain valuable insights by looking at trading volumes to see what stocks are on other investors' radars. Some of the best most active stocks to buy right now include NVIDIA Corporation (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Ford Motor Company (NYSE:F).
Jamie Dimon
Our Methodology
For compiling our list of the best most active stocks to buy now, we reviewed Yahoo Finance’s stocks screener and selected stocks that recorded the highest intraday trading volumes on October 10. Along with each stock, we have mentioned both intraday trading volume and each stock's average trading volume over three months. Moreover, we included analyst ratings, top shareholders, and hedge fund sentiment with each of our picks. These stocks are ranked in ascending order of intraday trading volumes.
Best Most Active Stocks To Buy Now
14. DraftKings Inc. (NASDAQ:DKNG)
Volume as of October 10: 36.5 Million
Average Volume (3-Month): 19.9 Million
Number of Hedge Fund Holders: 27
DraftKings Inc. (NASDAQ:DKNG) is a sports entertainment and gaming company that offers sports betting and gaming entertainment. DraftKings Inc. (NASDAQ:DKNG) is generating a lot of buzz on Wall Street and is one of the best most active stocks to buy now. As of October 10, the stock has an intraday volume of 36.5 million and an average 3-month volume of roughly 20 million.
This September, Susquehanna analyst Joseph Stauff raised his price target on DraftKings Inc. (NASDAQ:DKNG) to $24 from $20 and maintained a Positive rating on the shares. On September 14, Guggenheim analyst Curry Baker raised his price target on DraftKings Inc. (NASDAQ:DKNG) to $34 from $31 and reiterated a Buy rating on the shares.
At the close of Q2 2022, 27 hedge funds were long DraftKings Inc. (NASDAQ:DKNG) and held stakes worth $682.2 million in the company. As of June 30, HG Vora Capital Management owns 2.5 million shares of DraftKings Inc. (NASDAQ:DKNG) and is the largest shareholder in the company.
Some of the best-in-class stocks that have been experiencing high levels of activity recently include NVIDIA Corporation (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Ford Motor Company (NYSE:F).
13. Intel Corporation (NASDAQ:INTC)
Volume as of October 10: 42.9 Million
Average Volume (3-Month): 41.1 Million
Number of Hedge Fund Holders: 65
At the end of the second quarter of 2022, 65 hedge funds held stakes in Intel Corporation (NASDAQ:INTC). The total value of these stakes amounted to $2.53 billion. As of June 30, Generation Investment Management is the leading shareholder in Intel Corporation (NASDAQ:INTC) and has stakes worth $552.5 million in the company.
On September 27, Intel Corporation (NASDAQ:INTC) unveiled its 13th generation Intel Core processors. The company's new processors include the 13th Gen Intel Core i9-13900K, one of the world's fastest desktop processors. Intel Corporation (NASDAQ:INTC) is one of the best active stocks to buy now and as of October 10, has an intraday trading volume of 42.9 million.
On October 10, Northland analyst Gus Richard revised his price target on Intel Corporation (NASDAQ:INTC) to $52 from $55 and maintained an Outperform rating on the shares.
Here is what Baron Funds had to say about Intel Corporation (NASDAQ:INTC) in its second-quarter 2022 investor letter:
“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”
12. Amazon.com, Inc. (NASDAQ:AMZN)
Volume as of October 10: 41.75 Million
Average Volume (3-Month): 57.1 Million
Number of Hedge Fund Holders: 252
Amazon.com, Inc. (NASDAQ:AMZN) is generating a lot of activity on Wall Street and as of October 10, has a 3-month average volume of 57.1 million. The stock is one of the best most active stocks to buy now. Wall Street analysts like Amazon.com, Inc. (NASDAQ:AMZN). On October 4, JPMorgan analyst Doug Anmuth reiterated Amazon.com, Inc. (NASDAQ:AMZN) as his best idea in the internet group. This October, BofA analyst Justin Post revised his price target on Amazon.com, Inc. (NASDAQ:AMZN) to $157 from $170 and maintained a Buy rating on the shares.
At the end of the second quarter of 2022, 252 hedge funds disclosed ownership of stakes in Amazon.com, Inc. (NASDAQ:AMZN). The total stakes of these hedge funds amounted to $30 billion. Of these funds, Fisher Asset Management is the top shareholder in the company and has stakes worth $5.16 billion. The investment covers 3.65% of Ken Fisher's 13F portfolio.
Here is what Lakehouse Capital had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2022 investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN) proved resilient in the face of ongoing macro pressures and delivered a strong quarterly result along with “better-than-feared” guidance for the third quarter. Net sales increased 7% year-on-year (10% constant currency) to $121.2 billion, while operating profit declined 57% to $3.3 billion. The drop in operating profit was attributable not only to external macro factors, such as elevated shipping and fuel costs, but also lower productivity and efficiency costs as a result of some overcapacity on the back of its recent investment cycle. It was pleasing to see that the company has begun to make progress on the more controllable costs, particularly productivity and staffing, with headcount, for example, down almost 100,000 over the quarter. We continue to believe Amazon is well positioned to manage these short-term issues and remains on track to deliver significant profit improvements over the next twelve months.Management also confirmed that they have not seen any deterioration in Prime membership growth or retention following the 17% increase in Prime fees put through earlier in the year. This is not surprising to us, as in our view, the price increase was more than justified given the tremendous amount of customer value that has been added since the last price increase was implemented back in 2018, which includes the doubling of its fulfilment network and workforce, significant expansion of free same-day delivery and considerable investments in video and music content. Ultimately, we remain positive about Amazon’s future and believe that the company’s scale and market leadership will continue to drive growth for many years to come.”
11. AT&T Inc. (NYSE:T)
Volume as of October 10: 39.9 Million
Average Volume (3-Month): 40.25 Million
Number of Hedge Fund Holders: 55
On October 7, AT&T Inc. (NYSE:T) announced that it has secured a $119 million task order from the U.S. Customs and Border Protection to develop and enhance its voice and data networks. The stock has been creating a lot of activity on Wall Street and is ranked high among the best most active stocks to buy now. As of October 10, AT&T Inc. (NYSE:T) has an intraday volume of 39.9 million and an average 3-month volume of 40.25 million.
This August, MoffettNathanson analyst Craig Moffett adjusted his price target on AT&T Inc. (NYSE:T) to $17 from $19 and maintained a Market Perform rating on the shares. On October 6, Barclays analyst Kannan Venkateshwar revised his price target on AT&T Inc. (NYSE:T) to $18 from $20 and reiterated an Equal Weight rating on the shares.
At the close of Q2 2022, 55 hedge funds held stakes in AT&T Inc. (NYSE:T). The total value of these stakes amounted to $1.71 billion. As of June 30, D E Shaw is the leading investor in AT&T Inc. (NYSE:T) and has stakes worth $239.6 million in the company.
Here is what Chartwell Investment Partners had to say about AT&T Inc. (NYSE:T) in its second-quarter 2022 investor letter:
“In the Dividend Equity accounts, the three best performers in Q2 includes AT&T (NYSE:T, 2.5%), up 17.1%. AT&T completed the spin of the WarnerMedia business (HBO, CNN, etc.), and the market seemed to like the “back-to-basics” approach. Also, the telco business is expected to do relatively well in an inflationary environment.”
10. Banco Bradesco S.A. (NYSE:BBD)
Volume as of October 10: 39.8 Million
Average Volume (3-Month): 28.5 Million
Number of Hedge Fund Holders: 14
Banco Bradesco S.A. (NYSE:BBD) provides banking products and financial services in Brazil and international markets. Wall Street analysts are bullish on Banco Bradesco S.A. (NYSE:BBD). On September 29, Goldman Sachs analyst Tito Labarta raised his price target on Banco Bradesco S.A. (NYSE:BBD) to $5.40 from $4.40 and reiterated a Buy rating on the shares. This October, Scotiabank analyst Jason Mollin upgraded Banco Bradesco S.A. (NYSE:BBD) to Outperform from Sector Perform and raised his price target to R$24 from R$22.
As of October 10, Banco Bradesco S.A. (NYSE:BBD) has gained 20.79% year to date and has an intraday trading volume of 39.8 million. Banco Bradesco S.A. (NYSE:BBD) is one of the best most active stocks to buy now.
At the end of Q2 2022, 14 hedge funds were eager on Banco Bradesco S.A. (NYSE:BBD) and held stakes worth $155.5 million in the company. As of June 30, Fisher Asset Management is the largest investor in Banco Bradesco S.A. (NYSE:BBD) and has stakes worth $81.25 million.
9. PG&E Corporation (NYSE:PCG)
Volume as of October 10: 39.8 Million
Average Volume (3-Month): 23.3 Million
Number of Hedge Fund Holders: 51
PG&E Corporation (NYSE:PCG) is creating a lot of buzz on Wall Street. As of October 10, the stock has surged more than 39.6% over the past twelve months and has a 3-month average volume of 23.3 million and an intraday trading volume of 39.8 million. The stock is one of the best most active stocks that investors are piling into right now.
On September 26, Morgan Stanley analyst David Arcaro maintained his Equal Weight rating and $14 price target on PG&E Corporation (NYSE:PCG). On October 7, RBC Capital analyst Shelby Tucker raised his price target on PG&E Corporation (NYSE:PCG) to $19 from $16 and maintained an Outperform rating on the shares.
At the close of the second quarter of 2022, 51 hedge funds were long PG&E Corporation (NYSE:PCG) and held stakes worth $2.67 billion in the company. Of those, Third Point owns over 65 million shares of PG&E Corporation (NYSE:PCG) and is the largest shareholder in the company. The investment covers 15.44% of Dan Loeb's 13F portfolio.
Here is what GoodHaven Capital Management had to say about PG&E Corporation (NYSE:PCG) in its second-quarter 2022 investor letter:
“Other activity in the period included eliminating our holding in PG&E Corporation (NYSE:PCG) and adding a few new holdings – the luxury furniture and lifestyle company RH (formerly Restoration Hardware) and Goldman Sachs. A few important developments changed at PG&E including higher future capex plans and changes in long-term guidance, and so we changed our mind and sold. Purchases were made on a handful of occasions in 2020 and mid-2021 at an approximate average price of $9.20 and fully sold during February 2022 at an approximate average price of $11.42, earning approximately 24%.”
8. NIO Inc. (NYSE:NIO)
Volume as of October 10: 47.6 Million
Average Volume (3-Month): 42.7 Million
Number of Hedge Fund Holders: 25
On September 7, NIO Inc. (NYSE:NIO) released earnings for the fiscal second quarter of 2022. The company reported a revenue of $1.48 billion, up 13.31% year over year, and ahead of Wall Street expectations by $64.18 million. The stock has been generating a lot of activity on Wall Street and, as of October 10, has an intraday trading volume of 47.6 million. NIO Inc. (NYSE:NIO) is one of the best most active stocks to buy now.
Shortly after the company's earnings release, Deutsche Bank analyst Edison Yu reiterated his Buy rating and $39 price target on NIO Inc. (NYSE:NIO). On October 6, Mizuho analyst Vijay Rakesh revised his price target on NIO Inc. (NYSE:NIO) to $40 from $42 and maintained a Buy rating on the shares.
At the end of the second quarter of 2022, 25 hedge funds held stakes in NIO Inc. (NYSE:NIO). The total value of these stakes amounted to $873.8 million. This is compared to 26 positions in the previous quarter with stakes worth $716 million. As of June 30, Renaissance Technologies is the most prominent shareholder in the company and has stakes worth $385.9 million.
Here is what Horos Asset Management had to say about NIO Inc. (NYSE:NIO) in its first-quarter 2022 investor letter:
“At the beginning of April the CSRC (China Securities Regulatory Commission) announced possible changes in its regulation that would allow this inspection by foreign auditors, provided that the companies previously communicate to this body the state secrets that would be exposed, as well as the sensitive information that they might have to hand over, and the subsequent audit is carried out in a framework of collaboration with the CSRC. In short, a move in the direction desired by the SEC, although still far from the optimal result, that is, unrestricted access to information. While these negotiations between the two regulatory bodies are progressing, Chinese companies have to decide how best to preserve their interests. Other entities, such as the electric vehicle manufacturer Nio, have just started trading on this stock market.”
7. Vale S.A. (NYSE:VALE)
Volume as of October 10: 48 Million
Average Volume (3-Month): 36.1 Million
Number of Hedge Fund Holders: 27
Vale S.A. (NYSE:VALE) has been experiencing high levels of activity in recent months and, as of October 10, has a 3-month average volume of 36.1 million and an intraday trading volume of 48 million. The stock ranks high among the best most active stocks to buy now. Wall Street sees upside to Vale S.A. (NYSE:VALE). This September, RBC Capital analyst Tyler Broda raised his price target on Vale S.A. (NYSE:VALE) to $16 from $15 and upgraded the stock to Outperform from Sector Perform.
At the end of the second quarter of 2022, 27 hedge funds were long Vale S.A. (NYSE:VALE) and held stakes worth $1.78 billion in the company. As of June 30, Fisher Asset Management is the largest shareholder in Vale S.A. (NYSE:VALE) and has stakes worth $324.5 million in the company.
Here is what GMO LLC had to say about Vale S.A. (NYSE:VALE) in its first-quarter 2022 investor letter:
“Let’s look at Vale (NYSE:VALE), the world’s largest iron ore producer, as a case study for how shareholders can be rewarded. Vale’s stock price is about where it was at the beginning of last year. Despite the market’s lack of enthusiasm, the company generated about $20 billion of free cash flow last year. Not bad for a company with a market cap of a little over $100 billion and no substantive debt as of the end of March. 4 What did the company do with all that cash? Last year, Vale paid out about $9 billion in regularly scheduled dividends and distributed another $10 billion between extra dividends and share repurchases. Combined with dividends distributed in the first quarter of this year and a recently announced share repurchase, Vale has returned or announced the return of over $33 billion since the beginning of last year, almost a 32% yield relative to the market cap of the company. Not a bad way to win.”
6. Tesla, Inc. (NASDAQ:TSLA)
Volume as of October 10: 66.9 Million
Average Volume (3-Month): 74.5 Million
Number of Hedge Fund Holders: 72
On October 10, Morgan Stanley analyst Adam Jonas revised his price target on Tesla, Inc. (NASDAQ:TSLA) to $350 from $383 and reiterated an Overweight rating on the shares. This October, Mizuho analyst Vijay Rakesh adjusted his price target on Tesla, Inc. (NASDAQ:TSLA) to $370 from $391.67 and maintained a Buy rating on the shares.
On October 6, S&P Global Ratings raised its ratings on Tesla, Inc. (NASDAQ:TSLA) to BBB from BB+. The stock is generating a lot of activity on Wall Street and as of October 10, Tesla, Inc. (NASDAQ:TSLA) has an intraday trading volume of 66.9 million and is one of the best most active stocks to buy now.
At the end of the second quarter of 2022, 72 hedge funds disclosed ownership of stakes in Tesla, Inc. (NASDAQ:TSLA). These funds held collective stakes of $7.16 billion in the company. As of June 30, ARK Investment Management has stakes worth $1.09 billion in Tesla, Inc. (NASDAQ:TSLA) and is the largest shareholder in the company. The investment covers 6.47% of Cathie Wood's 13F portfolio.
Here is what Carillon Tower Advisers had to say about Tesla, Inc. (NASDAQ:TSLA) in its second-quarter 2022 investor letter:
“Tesla, Inc. (NASDAQ:TSLA), the electric vehicle and clean energy company, is set to recall more than 100,000 cars in China over a potential safety risk and is reportedly delaying a plan to restore production at its Shanghai plant. CEO Elon Musk was reported to have said that the company would cut 10% of salaried staff and freeze hiring due to a bad feeling he has about the economy.”
In addition to Tesla, Inc. (NASDAQ:TSLA), other stocks that have average trading volumes of above 50 million include NVIDIA Corporation (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Ford Motor Company (NYSE:F).
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Disclosure: None. 14 Best Most Active Stocks To Buy Now is originally published on Insider Monkey.
