10 Hot Penny Stocks to Buy Now

6. Neuronetics, Inc. (NASDAQ:STIM)

Price: $4.70

6-Months Performance: 360.29%

Number of Hedge Fund Holders: 5

Neuronetics, Inc. (NASDAQ:STIM) is a medical technology company that focuses on creating non-invasive treatments for people with mental health disorders, particularly depression. Its main product is the NeuroStar Advanced Therapy System, which uses a technique called transcranial magnetic stimulation. It primarily markets its NeuroStar system to psychiatrists but also reaches out to primary care physicians and pain management specialists.

On January 14, William Plovanic from Canaccord Genuity stated his bullish sentiment about the stock by noting that the preliminary fourth-quarter revenue significantly exceeded his and the market’s expectations, indicating robust growth. Moreover, he also likes the 2025 guidance which suggests a substantial increase in revenue, further supporting his positive outlook. As per Neuronetics, Inc.’s (NASDAQ:STIM) preliminary fourth quarter 2024 results the quarterly revenue was $22.1 million, up from $18.5 million in Q3 2024.

Looking ahead, management expects 12% to 19% year-over-year revenue growth in 2025, based on combined performance after the strategic acquisition of Greenbrook, which was completed in December 2024. It is one of the hot penny stocks to buy now.