Best Momentum Stock to Buy for August 17th

Here are two stocks with buy rank and strong momentum characteristics for investors to consider today, August 17th:

PhenixFIN PFX: This internally managed, closed-end, business development company, which is focused on current income generation coupled with capital appreciation with a focus on net asset value, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 31.1% over the last 60 days.

PhenixFIN Corporation Price and Consensus

PhenixFIN Corporation price-consensus-chart | PhenixFIN Corporation Quote

PhenixFIN's shares gained 12.8% over the last three month compared with the S&P 500’s gain of 5.1%. The company possesses a Momentum Score of A.

PhenixFIN Corporation Price

PhenixFIN Corporation price | PhenixFIN Corporation Quote

Remitly Global RELY: This company, which is a mobile-first provider of remittances and financial services for immigrants, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.8% over the last 60 days.

Remitly Global, Inc. Price and Consensus

Remitly Global, Inc. price-consensus-chart | Remitly Global, Inc. Quote

Remitly Global's shares gained 22.6% over the last three month compared with the S&P 500’s gain of 5.1%. The company possesses a Momentum Score of B.

Remitly Global, Inc. Price

Remitly Global, Inc. price | Remitly Global, Inc. Quote

See the full list of top ranked stocks here

Learn more about the Momentum score and how it is calculated here.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

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This article originally published on Zacks Investment Research (zacks.com).

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