The Top 5 list of shares that demonstrated the most prominent growth in May includes such companies as Biohaven Pharmaceutical Holding Company Ltd., Shoals Technologies Group Inc., Covetrus Inc., Livent Corporation, and AdaptHealth Corp.

Selection criteria

  • The shares are traded on the NYSE and NASDAQ
  • The companies are registered in the US
  • The shares cost over $2
  • The companies are not trusts
  • Their market capitalisation is over $2 billion
  • Their average trading statistics over the past 30 days is over 750,000 shares

Growth is expressed in percentage as the difference between the closing price on 29 April and the closing price on 31 May 2022. The market capitalisation of each company is relevant to the time when the article was being prepared.

1. Biohaven Pharmaceutical – 61.19%

  • Founded: 2013
  • Based in: New Haven, Connecticut
  • Sphere: healthcare
  • Exchange: NYSE
  • Market capitalisation: $10.2 billion

Biohaven Pharmaceutical Holding Company Ltd develops drugs and product candidates for the treatment of neurological and neuro-psychic diseases as well as rare diseases. Its innovative drug NURTEC ODT has been approved as an emergency and prophylactic treatment for migraine.

On 10 May, it became known that Biohaven Pharmaceutical would be sold to Pfizer for $11.6 billion. For the pharma giant, this will be the largest purchase of the past five years. The company expects to close the trade by the beginning of the next year.

On the same day, at the closing of the trading session, the share price of Biohaven Pharmaceutical Holding Company Ltd (NYSE: BHVN) leaped 68.39% to $140. Subsequent fluctuations remained within 1%. Over May, the stock quotes recorded a 61.19% rise and kept growing on forming a correction.

Biohaven Pharmaceutical stock price chart
Past performance is not a reliable indicator of future results or future performance.

2. Shoals Technologies Group – 56.31%

  • Founded: 1996
  • Based in: Portland, Tennessee
  • Sphere: technology
  • Exchange: NASDAQ
  • Market capitalisation: $2.6 billion

Shoals Technologies Group Inc. supplies electric balance systems for solar energy, storage batteries, and infrastructure for charging electric cars. Its clients are engineering, purchasing, and construction companies that work in the sphere of alternative energy.

On 4 May, the corporation announced that its existing credit line would be extended from $50 million to $150 million. Following this announcement, the shares of Shoals Technologies Group Inc. (NASDAQ: SHLS) recorded a 17.82% growth to $12.96.

On 16 May, the company published a report for Q1 2022 that demonstrated an earnings increase of 49% to $68 million, a net profit rise of 155.8% to $4.7 million, and a 133.3% increase in the EPS to $0.02. The stock quotes reacted to the financial statistics by jumping 10.73% to $13.42. Over the past month, the shares surged 56.31% in total and keep on growing.

Shoals Technologies Group stock price chart
Past performance is not a reliable indicator of future results or future performance.

3. Covetrus – 50.87%

  • Founded: 2018
  • Based: Portland, Maine
  • Sphere: healthcare
  • Exchange: NASDAQ
  • Market capitalisation: $2.9 billion

Covetrus Inc. is a retailer and wholesaler of foods and healthcare items for animals and a provider of healthcare services for pets. The main produce includes pet food, vitamins, nutritional supplements, and vaccines alongside equipment for labs, surgery, and diagnostics.

On 5 May, Covetrus reported its Q1 2022 financial performance. Earnings increased 4% to $1.15 billion, net loss shrunk by 87.5% to $2 million, and loss per share remained at 81.8% or $0.02. The quotes of Covetrus Inc. (NASDAQ: CVET) reacted to the quarterly report with a 10.52% growth to $15.45.

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On 20 May, Clayton, Dubilier & Rice, and TPG suggested that they should buy all normal Covetrus stocks in turnover for $21 each. Note that CD&R already holds 24.15% of the company’s shares. The news sent Covetrus shares up 9.38% to $19.71. Over the past month, the quotes recorded a total growth of 50.87% and go on recovering.

Covetrus stock price chart
Past performance is not a reliable indicator of future results or future performance.

4. Livent – 48.83%

  • Founded: 2018
  • Based in: Philadelphia, Pennsylvania
  • Sphere: chemical industry
  • Exchange: NYSE
  • Market capitalisation: $5.1 billion

On 3 May, Livent Corporation, one of the largest global makers of lithium compounds used in batteries, agricultural chemicals, and aerocosmic alloys, reported its Q1 2022 financial performance.

Livent earnings over January–March increased 51.8% to $143.5, compared to the statistics of the same part of 2021. Net profit rose 6,750% to $53.2 million, and EPS went up by 2,900% to $0.28. Moreover, the company increased its earnings forecasts for this year from $540-600 million to $755-835 million.

The strong report results and improved forecast can be attributed to the rising lithium prices, which have hit an all-time high. With the world leaving combustion engines for electric engines to counter climate change, the demand for lithium has increased because it is used in electric car engines.

On 27 May, the developer of the first fully lithium aircraft, Lilium NV, and Livent Corporation announced signing an R&D collaboration agreement.

Impressive financial statistics fueled a rally of Livent Corporation shares (NYSE: LTHM), making them rise 30.25% to $28.55, and the news about the new cooperation with Lilium sent them up 14.21% to $34.49. Totally, over May, the stock quotes recorded a 48.83% rise and are now correcting.

Livent stock price chart
Past performance is not a reliable indicator of future results or future performance.

5. AdaptHealth – 42.1%

  • Founded: 2012
  • Based in: Plymouth, Pennsylvania
  • Sphere: healthcare
  • Exchange: NASDAQ
  • Market capitalisation: $2.4 billion

AdaptHealth Corp. provides a wide range of medical equipment for domestic use including respiratory protective equipment. It is also a provider of the respective medical services.

Over May, the share price of AdaptHealth Corp. (NASDAQ: AHCO) recorded a  42.1% growth from $12.66 to $17.99. This growth was attributed to the strong financial report for January–May and the optimistic forecast for 2022.

On 9 May, AdaptHealth announced that earnings in Q1 had increased 46.5% to $706.2 million. Net income jumped 1152.7% to $41.75 million, and EPS rose 200% to $0.08. The forecast of the yearly profit was increased from $2.82-3.02 billion to $2.84-3.04 billion.

After skyrocketing, AdaptHealth shares started a range.

AdaptHealth stock price chart
Past performance is not a reliable indicator of future results or future performance.

Which shares demonstrated the most prominent dynamics in May?

The leaders of share price growth in May were Biohaven Pharmaceutical Holding Company Ltd., Shoals Technologies Group Inc., Covetrus Inc., Livent Corporation, and AdaptHealth Corp. The main factors for growth were the strong quarterly reports and agreements with other companies.

Leaders of decline were not recorded last month: all the companies that complied with the selection criteria closed the month with growth.

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This material and the information contained therein are for informational purposes only and should in no way be construed as providing investment advice for the purposes of the Investment Companies Act 87 (I) 2017 of the Republic of Cyprus, or any other form of personal advice or recommendation relating to certain types of transactions in certain types of financial instruments.