10 Best Marijuana Stocks To Buy According to Hedge Funds

6. Village Farms International, Inc. (NASDAQ:VFF)

Number of Hedge Fund Holders: 6

Ranking at number six in our list of the Best Marijuana Stocks to Buy Now is Village Farms International, Inc. (NASDAQ:VFF), one of North America’s leading growers, marketers, and distributors of top-quality, greenhouse-grown fruits and vegetables. Its operations also include Pure Sunfarms, one of the largest cannabis growers in Canada.

In the last five years, Village Farms International, Inc. (NASDAQ:VFF) has seen its revenue increase by 17% per year. This trend continued in Q3 2024, when the company’s total sales increased by 20% YoY to $83.4 million, beating the analysts’ estimates by around $2.8 million. However, the firm’s consolidated cash flow from operations was reported at $4.3 million, compared to $12.1 million a year ago. Q3 also ended with a loss of over $212,000, though it was much better than the loss of over $900,000 incurred during the same period last year.

Village Farms International, Inc. (NASDAQ:VFF) also remains committed to sustainability. Over a decade ago, it launched its subsidiary VF Clean Energy, which converted landfill gas into clean energy and provided electricity for BC Hydro. Over time, the company transitioned to a renewable natural gas (RNG) model and its Delta RNG facility became operational in April, with royalty payments now being received to provide a healthy stream of incremental profits.

Village Farms International, Inc. (NASDAQ:VFF) is also benefitting immensely from expanding into the international cannabis market. Exports from Canada increased 111% YoY in Q3 2024, with continued improvement in sales to its German, Australian, and UK partners. Moreover, the company’s EU-GMP certification has been recently renewed and it has also commenced cultivation in the Netherlands – its first international recreational market. Sales are set to begin during the first quarter of the coming year through its Leli Holland subsidiary, catering to a fully legal market estimated to be between $3.1 to $3.7 billion annually.

6 hedge funds in the IM database held shares of Village Farms International, Inc. (NASDAQ:VFF) at the end of Q3 2024, with Renaissance Technologies holding the largest stake valued at over $1 million.