Many investors, especially "momentum investors" are passionately obsessed with owning the hot stocks of the market. Momentum stocks tend to be fast-growing, high-margin companies in popular industries. Understandably, these stocks tend to fetch incredible multiples on their earnings.
I don't cover many momentum stocks for BloggingStocks, however here are some that I've spoken about:
- Skyworks Solutions (NASDAQ: SWKS) -- I argued that the company has more upside in its operations which should lead to further upside in the stock.
- DryShips (NASDAQ: DRYS) -- I explained why I think the stock had further upside due to the tremendous strength in drybulk shipping rates recently.
- Dawson Geophysical (NASDAQ: DWSN) -- I rationalized a buy at current levels due to a variety of fundamental and technical factors.
Similarly, I think the fundamental and technical backdrop in
Itron (NASDAQ:
ITRI) is very interesting and the stock could be a worthy buy presently.
Anyone who hasn't been stuck under a rock in recent years is well aware of the shortage in energy and water resources throughout the world. Itron makes power and water meters alongside analytical software which allows utility companies and other resource providers to find inefficiencies in distribution and consumption. Understandably, these services allow for more efficient consumption and, therefore, waste reduction.
In today's day and age it should be easy to see the value of these products. As the company states on its website, "With that type of detailed information for decision-making, everyone benefits: utilities, customers, regulators, shareholders and, of course, the environment."