10 Hot Penny Stocks to Buy Now

8. Rapid Micro Biosystems, Inc. (NASDAQ:RPID)

Price: $3.64

6-Months Performance: 343.29% 

Number of Hedge Fund Holders: 3

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) is a technology company focused on improving manufacturing and quality control processes in the healthcare sector. It does so by providing automation solutions that replace outdated manual testing methods used to check for microbial contamination in healthcare products. Its main product is the Growth Direct system, which automates the testing process for microbial quality control. It allows manufacturers to conduct tests more quickly and accurately right on the production floor, rather than in a separate lab.

On February 12, KeyBanc initiated coverage on the stock with an Overweight rating and a price target of $8. The firm highlighted the company’s Microbial Growth Direct System as a transformative technology in biological manufacturing quality control, noting that it significantly enhances accuracy and efficiency. This system provides digital results in just three to five days, compared to the five to fourteen days required by traditional manual methods.

During the fiscal third quarter of 2023, Rapid Micro Biosystems, Inc. (NASDAQ:RPID) generated $7.6 million in revenue, up 24% year-over-year. This was notable as it marked the eighth consecutive quarter with revenue exceeding management’s guidance. Moreover, the company placed seven Growth Direct systems across North America, Europe, and Asia Pacific, representing the strongest placement quarter since Q3 2021. It is one of the hot penny stocks to buy now.

White Brook Capital Partners stated the following regarding Rapid Micro Biosystems, Inc. (NASDAQ:RPID) in its Q4 2024 investor letter:

“Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was entered in early 2025. Given its small size and the focus on middle capitalization stocks in the portfolio, the Company will be a very small position in the Fund. In early January the Company preannounced fourth quarter 2024 results and announced a collaboration with a large software partner that should help the Company’s sales efforts. The stock is up over 25% this year.”