In this article, we will take a look at the 5 best fast growing penny stocks to buy now. To see more such companies, go directly to 10 Best Fast Growing Penny Stocks to Buy Now.
5. Nano Dimension Ltd. (NASDAQ:NNDM)
Number of Hedge Fund Holders: 10
Additive electronics and hardware products company Nano Dimension Ltd. (NASDAQ:NNDM) ranks 5th in our list of the best fast growing penny stocks to buy now. In early July, Nano Dimension Ltd. (NASDAQ:NNDM) posted preliminary Q2 consolidated revenue report, according to which the company’s revenue in the period totaled $14.8 million, a 33% increase over the same period last year. For the first half of 2023 Nano Dimension Ltd. (NASDAQ:NNDM) expects its revenue to total $29.7 million, an increase of about 38% year over year.
Insider Monkey’s database of 943 hedge funds shows that 10 funds had stakes in Nano Dimension Ltd. (NASDAQ:NNDM) as of the end of the first quarter of 2023. The biggest hedge fund stakeholder of Nano Dimension Ltd. (NASDAQ:NNDM) was Marc Majzner’s Clearline Capital which owns a $12.5 million stake in the company.
4. Amneal Pharmaceuticals, Inc. (NYSE:AMRX)
Number of Hedge Fund Holders: 12
Bridgewater, New Jersey-based Amneal Pharmaceuticals, Inc. (NYSE:AMRX) shares have gained about 50% in value year to date through July 30. In May the company posted strong Q1 results. Adjusted EPS in the quarter totaled $0.12, surpassing estimates by $0.02. Revenue in the period jumped 12.1% year over year to $558 million, beating estimates by $15.82 million. For full-year 2023 Amneal Pharmaceuticals, Inc. (NYSE:AMRX) expects its revenue to come in at $2.25 billion to $2.35 billion, while analyst estimate for the metric is $2.33 billion.
Insider Monkey’s database of 943 hedge funds shows that 12 funds reported owning stakes in Amneal Pharmaceuticals, Inc. (NYSE:AMRX) as of the end of the first quarter. The biggest stakeholder of Amneal Pharmaceuticals, Inc. (NYSE:AMRX) during this period was Eversept Partners of Kamran Moghtaderi which owns a $7.2 million stake in the company.
3. Companhia Energética de Minas Gerais (NYSE:CIG)
Number of Hedge Fund Holders: 13
Brazilian utility company Companhia Energética de Minas Gerais (NYSE:CIG) shares have gained about 36% year to date through July 30. A total of 13 hedge funds in Insider Monkey’s database of 943 hedge funds had stakes in Companhia Energética de Minas Gerais (NYSE:CIG). The biggest stakeholder of Companhia Energética de Minas Gerais (NYSE:CIG) during this period was Nathaniel August’s Mangrove Partners with a $17.8 million stake in the company.
Companhia Energética de Minas Gerais (NYSE:CIG) in May posted its first quarter results. Its net profit in the period came in at R$1.4 billion. Revenue in the quarter jumped about 10.2% year over year to $8.65 billion.
2. fuboTV Inc. (NYSE:FUBO)
Number of Hedge Fund Holders: 14
fuboTV Inc. (NYSE:FUBO) shares have gained about 67% year to date through July 30. In May fuboTV Inc. (NYSE:FUBO) posted strong Q1 results. Adjusted EPS in the quarter came in at -$0.27, beating estimates by $0.11. Revenue in the quarter jumped 34% year over year to $324.4 million, beating estimates by $20.99 million. fuboTV Inc. (NYSE:FUBO) ended the first quarter with 1.285 million paid subscribers, which shows a 22% YoY increase.
As of the end of the first quarter of 2023, 14 hedge funds tracked by Insider Monkey were long fuboTV Inc. (NYSE:FUBO). The biggest stakeholder in fuboTV Inc. (NYSE:FUBO) was Paul Marshall and Ian Wace’s Marshall Wace LLP which owns an $8.7 million stake in the company.
1. Autolus Therapeutics plc (NASDAQ:AUTL)
Number of Hedge Fund Holders: 15
Autolus Therapeutics plc (NASDAQ:AUTL) tops our list of the best fast growing penny stocks to buy now since 15 hedge funds in Insider Monkey’s database of 943 hedge funds reported having stakes in the company as of the end of the first quarter of 2023. In June Autolus Therapeutics plc (NASDAQ:AUTL) jumped after the company said Phase 2 data for its CAR T cell therapy obe-cel (AUTO1) will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting.
Autolus Therapeutics plc (NASDAQ:AUTL) has also announced that its treatment obe-cel reached the primary endpoint in the pivotal FELIX study for adults with relapsed/refractory B-cell acute lymphoblastic leukemia (B-ALL).
Autolus Therapeutics plc (NASDAQ:AUTL) has gained about 68% year to date, which shows it’s a fast growing penny stock with some solid catalysts.
You can also take a peek at 15 Worst Performing NASDAQ Stocks In 2023 and 10 Best Small Cap Automotive Stocks To Buy.
