Best Momentum Stocks to Buy for August 7th

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, August 7:

EuroDry Ltd. EDRY: This ocean-going transportation services company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.3% over the last 60 days.

EuroDry’s shares gained 37.6% over the last three months compared with the S&P 500’s advance of 4.2%. The company possesses a Momentum Score  of A.

Columbus McKinnon Corporation CMCO: This scientific and technical instruments company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.5% over the last 60 days.

Columbus McKinnon’s shares gained 30.3% over the last three months compared with the S&P 500’s advance of 4.2%. The company possesses a Momentum Score of A.

OP Bancorp OPBK: This bank holding company for Open Bank has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.4% over the last 60 days.

OP’s shares gained 8.2% over the last three months compared with the S&P 500’s advance of 4.2%. The company possesses a Momentum Score of A.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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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