Top 5 Nasdaq 100 stocks to watch amid market volatility

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Top 5 Nasdaq 100 stocks to watch amid market volatility

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 Top 5 Nasdaq 100 stocks to watch amid market volatility
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Highlights:

  • Veru Inc. (NASDAQ: VERU) is a US$ 1.2 billion market valuation company.
  • TORM PLC (NASDAQ: TRMD) stock sprinted over 155 per cent YTD.
  • Target Hospitality Corp. (NASDAQ: TH) posted a record revenue of US$ 109.6 million in Q2 2022. 

This has been a year of market turmoil since the beginning. All major US indexes performed poorly, to end the first half of 2022 in the worst manner after 1970. The tech-heavy Nasdaq composite got roiled as mega-cap tech companies saw their steepest fall. However, things started to improve a bit since July, as recent earnings by companies salvaged some losses.

Here, we are looking at five top NASDAQ stocks, including Veru Inc. (NASDAQ: VERU), TORM plc (NASDAQ: TRMD), Lantheus Holdings, Inc. (NASDAQ: LNTH), etc. and their performances along with Kalkine Media®:

Veru Inc. (NASDAQ: VERU)

Veru is a US biopharmaceutical company headquartered in Miami, Florida that develops novel medicines for viral and ARDS-related diseases apart from COVID-19. It also deals in the management of breast and prostate cancers.

Veru is a US$ 1.2 billion market valuation company. The VERU stocks grew over 138 per cent year-to-date (YTD). Veru’s shares gained 56.9 per cent year-over-year (YoY).

The VERU stock reached its highest price in the last 52 weeks of US$ 24.55 on August 17, 2022, while it fell to its lowest 52-week price of US$ 4.34 on April 8, 2022.

The company said its Q2 2022 total revenue fell by two per cent to US$ 13 million from US$ 13.3 million in the year-ago quarter.

The company’s Q2 2022 gross profit soared by two per cent to US$ 11.2 million from US$ 10.9 million IN Q2 2021.

TORM plc (NASDAQ: TRMD)

TORM is a shipping company that owns and plies product tankers. Its main business involves transporting refined oil products. The company moves clean petroleum products like gasoline, jet fuel, diesel oil, and naphtha, among others.

The US$ 1.8 billion company, TORM, distributed a dividend of US$ 0.58 semi-annually. Its EPS (earnings per share) is US$ 1.14.

The TRMD stock surged 155 per cent YTD. It rose by over 21 per cent over the past month. The stock reached the highest price of US$ 21.84 in the last 52 weeks on August 18, 2022. It hit the 52-week lowest price of US$ 6.17 on January 24, 2022. It closed at US$ 20.93 on September 6, 2022, with a volume of 315,641.

TORM reported a Q2 2022 revenue of US$ 338.5 million, while it was US$ 150.8 million in the year-ago quarter. It reported net assets of US$ 2,421.1 million in Q2 2022, compared to US$ 2187.3 million in the same quarter a year earlier.

The RSI (Relative Strength Index) value of the TRMD stocks of 64.12 per Refinitiv as of September 7, 2022, points toward a stable market condition.

Lantheus Holdings, Inc. (NASDAQ: LNTH)

Lantheus Holdings is a US healthcare company engaged in building diagnostic products. Its products are used to diagnose and treat cardiovascular diseases.

The US$ 5.5 billion market cap company generates revenue from its sales of its diagnostic imaging agents. Mostly, these products are bought by wholesalers, hospitals, radiopharmacy, etc., in the US.

Shares of Lantheus Holdings increased 53.5 per cent over the past six months. For the quarter that ended June 30, 2022, Lantheus reported a revenue of US$ 223.8 million, compared to US$ 20.9 million in the preceding quarter.

Lantheus Holdings is anticipated to clock in earnings of US$ 3.57 per share on US$ 900.67 million in revenues in 2022.

Worldwide revenue of the company in Q2 2022 grew by 121.4 per cent to US$ 223.7 million compared to the corresponding quarter a year earlier.

Lantheus posted a GAAP net income of US$ 43.1 million in Q2 2022, relative to a GAAP net loss of US$ 26.7 million in the year-ago period.

Its operating activities helped the company garner net cash of US$ 72.6 million in the current year's second quarter. The free cash flow was reported to be US$ 68.3 million.

Market capitalization of VERU, TRMD, LNTH, TH, RXDX (US$)Source: ©Kalkine Media®; © Canva via Canva.com

Target Hospitality Corp. (NASDAQ: TH)

Target Hospitality deals in providing workforce lodging and temporary housing to people involved in oil and gas drilling, disaster management, and large-scale events.

Target has a market valuation of US$ 1.2 billion. The TH stock gained a robust jump of over 210 per cent in the past six months, while on a yearly basis, it saw a growth of over 193 per cent.

The company, on July 6, announced a lease and services agreement (Expanded Humanitarian Contract) to offer enhanced infrastructure to its non-profit partner and the US Government in their humanitarian pursuits.

The company also raised its full-year 2022 outlook by 53 per cent, anticipating a record annual revenue of US$ 505 million.

In its second-quarter earnings results, Target achieved a record revenue of US$ 109.6 million, which was up by 46 per cent from the same quarter in 2021.

It posted a net income of US$ 22.9 million in the reported quarter, whereas its net loss in the corresponding period was US$ 0.9 million.

Prometheus Biosciences, Inc. (NASDAQ: RXDX)

Prometheus is a biotech company with its headquarters in California. It is primarily involved in discovering and developing along with the commercialization of novel therapeutic and companion diagnostic products, which can help diagnose and treat IBD.

Prometheus’s market valuation is US$ 2.3 billion. Over the past six months, the RXDX stock sprinted by over 25 per cent, while on a YoY basis, it jumped over 114 per cent.

Prometheus registered cash & cash equivalents of US$ 211.8 million in the 2nd quarter of fiscal 2022. It was US$ 257.3 million in the last quarter of 2021.

Prometheus posted a revenue of US$ 1.3 million in Q2 2022, compared to US$ 0.3 million for the quarter that ended June 30, 2021.

Bottom line:

The current US stock market heavily leans on data and moves by news and analysis. It has become highly volatile and moves on market news. In such an environment, investing becomes tough, with high chances of making losses. So, traders should analyze the stocks well before arriving at any decision. However, staying invested for longer can save them from hurting their profits in the short term until the market gets normal.

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