Shares of Nvidia (NASDAQ:NVDA), DraftKings (NASDAQ:DKNG), and Kirby Corporation (NYSE:KEX) were added to the Bank of America’s U.S. 1 List. The U.S. 1 list includes top investment ideas selected from a broad range of stocks that have a “Buy” rating from analysts at Bank of America Securities. While Bank of America is bullish on these stocks, TipRanks’ Hedge Fund Trading Activity tool (which analyzes data from Form 13-Fs to offer hedge fund signals) shows an inclination towards Kirby.
Kirby is a tank barge operator that transports bulk liquid products. The Hedge Fund Confidence Signal is Positive for KEX stock based on the activity of eight hedge funds. Hedge funds increased their KEX holdings by 87.3K shares in the last quarter.
Hedge Funds Turned their Backs on NVDA and DKNG
While hedge funds added KEX stock, they turned their backs on Nvidia and DraftKings. For instance, the Hedge Fund Confidence Signal is Very Negative for NVDA stock based on the activity of 91 hedge funds. Hedge funds decreased their NVDA holdings by 4.8M shares in the last quarter.
Like NVDA, the Hedge Fund Confidence Signal is Very Negative for DKNG stock based on the activity of 26 hedge funds. Hedge funds decreased their DKNG holdings by 2.2M shares in the last quarter.
Which Stock is Good to Buy Now?
It’s worth noting that Nvidia stock is up about 135% year-to-date. Meanwhile, KEX stock is up about 51% during the same period. DKNG stock underperformed both NVDA and KEX and is up about 0.8%.
Nonetheless, TipRanks’ Stock Comparison tool shows analysts are bullish on NVDA, DKNG, and KEX stocks, represented by a Strong Buy consensus rating. However, analysts’ average price target suggests that DraftKings stock offers the highest upside potential, about 50.79% from current levels.
Overall, KEX stock has a Smart Score of nine, implying it is more likely to outperform the broader market averages.