During the current earnings season, several companies whose stocks I own have delivered great third-quarter results. These results, along with their other achievements, show that the companies’ technology is being widely adopted by end users. Therefore, I believe these names will soon become fast growth stocks.
In addition, it is important that all three of these companies’ businesses are growing rapidly and are well capitalized, providing these three companies with the “fuel” they need to enter rapid growth mode. .
Here are three fast-growing stocks that I believe can make retail investors millionaires by 2027.
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JinkoSolar (JKS)
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First on our list of fast growing stock millionaire manufacturers is a China based solar module manufacturer JinkoSolar (NYSE:JKS). This company’s solar energy recent dashboard set another performance record, delivering extremely impressive Q3 results on October 28.
Specifically, the company revenue soars 106% year-on-year reached $2.74 billion, while its net income, excluding some items, reached 427.5 million Chinese yuan, compared with a loss of 1.5 million yuan. Chinese currency in the same period of the previous year.
Despite the impact of high inflation, Jinko’s gross margin actually increased to 15.7% last quarter from 14.7% in the previous quarter. This is also a significant improvement year-on-year from the 15.1% gross margin Jinko reported in Q3 2021. In the end, the company shipped 3% more tissues- solar modules year-on-year, and their shipments also jumped 117% year-over-year. time frame.
JKS is benefiting from strong demand for its N-type modules, which are more efficient and more profitable than their predecessors. With electricity demand is increasing As a result of higher electricity prices, solar energy is now an extremely attractive alternative in many regions of the world. So I think Jinko’s sales and profits will continue to soar in the coming months and years.
That said, forward price-to-earnings ratio of JKS . stock is only 7.7x, with a price-to-sales ratio followed by 0.25x.
Bionano (BNGO)
Source: Dennis Diatel / Shutterstock.com
Using optical genome mapping, By Bionano (NASDAQ:BNGO) Saphyr device structure detection variations in DNA. This allows researchers and medical professionals to more accurately evaluate and treat tumors and genetic aberrations. With Saphyr, these experts, evidence suggests, can detect cancer and genetic disorders earlier, helping them treat the disease more effectively.
Last quarter, Bionano’s the first line soars 55% year-on-year to $7.22 million, while globally deployed Saphyr devices increased 11% QoQ and 54% YoY.
Meanwhile, on October 4, a study by the Sorbonne University show that Optical genome mapping (OGM) detected 37% more structural variants in liver cancer than whole genome sequencing (WGS), which is now much more widely used.
“It shows that OGM may be more sensitive at detecting larger structural variations than WGS, and it provides a great example of how the two methods complement each other,” Bionano CEO Erik Holmlin said in a statement. An announcement.
Additionally, the company recently launched Bionano Labs, Can perform OGM tests on behalf of medical organizations. Bionano Labs has the required certification to receive reimbursement for these tests from insurance companies. In the long run, the lab will prove to be quite lucrative for BNGOs, as health insurers have a great incentive to treat cancer earlier (and also have substantial funds for them to invest in technologies). this).
Finally, BNGO is working closely with The University of Texas MD Anderson Cancer Center, one of the nation’s premier cancer research and treatment facilities. Over time, this partnership will open many doors for Bionano.
Schrödinger (SDGR)
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Last on our list of fast-growing stocks to buy is Schrodinger (NASDAQ:SDGR). Here The developer of artificial intelligence technology used to enhance drug discovery has reported a significant increase in revenue from drug manufacturers using its products.
Specifically, the company drug discovery revenue up 121% year over year to $12.3 million. Additionally, the company now expects its 2022 drug discovery revenue to grow from 82% to 94%, bringing in between $45 million and $48 million. This is an impressive number, compared to a previous estimate of $35 million to $45 million.
In contrast, SDGR expects revenue from software sales to grow only 8%-12% this year to $122 million to $127 million.
A more clouded software growth outlook may reflect conservative spending by some organizations. There is certainly a lot of concern surrounding this current macroeconomic environment. However, the large sales of Schrodinger’s drug discovery show that their technology is really reaching its goal of helping researchers rapidly advance their drug candidates.
As of the date of publication, Larry Ramer has held permanent positions in BNGO, SDGR and JKS. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication principles.
Larry Ramer has been conducting research and writing articles on US stocks for 15 years. He has been working for The Fly and Israel’s largest business newspaper, Globes. Larry started writing columns for InvestorPlace in 2015. Among his very successful picks are GE, solar stocks and Snap. You can reach him on StockTwits at @larryramer.
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