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IBD Screen Of The Day: 5 Hot Stocks Top Funds Are Buying Include Leading Cannabis Play

Investors searching for hot stocks to buy or watch should check out IBD Screen Of The Day, a column that focuses on a list of top ideas in the IBD Stock Screener.




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All the lists in Stock Screener offer a look at stocks with bullish characteristics. Today we focus on Stocks That Funds Are Buying — with a technical analysis angle.

Many of these stocks aren’t household names like Microsoft (MSFT) or Tesla (TSLA), so they offer new ideas for further research. So which market winners are big mutual funds increasing their stakes in?

Five Hot Stocks To Watch

Freedom Holding (FRHC), a Kazakhstan-based provider of securities brokerage and investment bank services, has been consolidating the past six weeks. It’s about 9% away from a 61.87 buy point, according to MarketSmith chart analysis. Freedom has administrative offices in Russia, Cyprus and the U.S.

IBD Stock Checkup assigns Freedom a best possible 99 Composite Rating, which gives investors a quick way to gauge a stock’s key growth traits. That puts it at the top of IBD’s 31-stock investment bank group. The company notched triple-digit profit growth on a year-over-year basis the past three quarters.

GrowGeneration (GRWG), up 23% this year, may be shaping a new base. The potential buy point for now is 67.85, or a dime above the left-side high. A 91 Composite Rating leads the 12-stock specialty retail group. A 99 Relative Strength Rating, part of the overall composite score, puts GrowGeneration in the top 1% of all stocks.

After the close March 24, the company reported forecast-beating Q4 sales and raised its full-year sales forecast. Based in Denver, GrowGeneration sells organic nutrients, soil and other supplies to small and large cannabis growers.

Revolve (RVLV), on online fashion retailer, is testing its 10-week moving average for the second time since a November breakout from a cup with handle. A 97 Composite Rating is second among hot stocks in the 32-stock apparel and shoe retail group.

A 99 Earnings Per Share Rating, part of the overall composite score, reflects a five-year compound earnings growth rate of 100%. Its 95 RS Rating places Revolve in the top 5% of all stocks.

Earnings Growth Ahead?

Open Lending (LPRO) is about 7% away from a 43.10 buy point of a seven-week consolidation. An 88 Composite Rating is fifth-best in the 16-stock commercial loans group. That includes a 64 EPS Rating and a 91 RS Rating. The EPS Rating is weighed down by losses in 2019 and ’20. But analysts expect a rebound to profit of 79 cents a share this year and $1.16 the next.

Green Brick Partners (GRBK), which has been consolidating since late November, rallied in late-afternoon trading and stands less than 3% below a 25.15 buy point. The stock is up 5% this year, after doubling in price last year. The Plano, Texas-based homebuilder earns a 96 Composite Rating and 98 EPS Rating. Its five-year compound earnings growth rate is 25%. Wall Street forecasts a 34% jump this year and 9% in ’21.

Follow Nancy Gondo on Twitter at @IBD_NGondo

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