In this article, we discuss 5 best fundamental penny stocks to invest in. If you want to see more stocks in this selection, check out 10 Best Fundamental Penny Stocks To Invest In.
5. FlexShopper, Inc. (NASDAQ:FPAY)
Number of Hedge Fund Holders: 1
Share Price as of October 12: $1.5400
FlexShopper, Inc. (NASDAQ:FPAY) was founded in 2003 and is headquartered in Boca Raton, Florida. It is a financial technology company that operates an e-commerce marketplace where customers shop for electronics, home furnishings, and other durable goods on a lease-to-own basis. On October 11, FlexShopper, Inc. (NASDAQ:FPAY) stock climbed 16% after the company reported an exclusive long-term marketing relationship with Liberty Tax. This partnership will allow FlexShopper, Inc. (NASDAQ:FPAY) to provide its consumer loans in Liberty Tax locations across the United States, as well as the online retail channels of Liberty Tax. Liberty Tax has 2,700 locations in the United States and Canada.
According to Insider Monkey’s data, Jim Simons’ Renaissance Technologies held 187,655 shares in FlexShopper, Inc. (NASDAQ:FPAY) at the end of June 2022, worth $169,000.
4. Color Star Technology Co., Ltd. (NASDAQ:CSCW)
Number of Hedge Fund Holders: N/A
Share Price as of October 12: $1.1900
Color Star Technology Co., Ltd. (NASDAQ:CSCW) is one of the best fundamental penny stocks to monitor in the current market. Color Star Technology Co., Ltd. (NASDAQ:CSCW) provides online entertainment performances and music education services in the United States and China. The company was founded in 2002 and is based in New York.
Color Star Technology Co., Ltd. (NASDAQ:CSCW) announced on September 26 that it will enter the mobile industry to partake in the development and manufacturing of a metaverse phone. Color Star Technology Co., Ltd. (NASDAQ:CSCW) is collaborating with leading international enterprises to develop and manufacture the DONO metaverse phone. The company also disclosed on September 22 that the Asian fashion brand, Unbounded Human, will start selling its clothing on the ColorWorld Metaverse platform. These are positive catalysts for Color Star Technology Co., Ltd. (NASDAQ:CSCW) stock.
3. Jupiter Wellness, Inc. (NASDAQ:JUPW)
Number of Hedge Fund Holders: N/A
Share Price as of October 12: $0.7699
Jupiter Wellness, Inc. (NASDAQ:JUPW) is a Florida-based company that develops cannabidiol (CBD) based medical therapeutics and wellness products. The company provides products for the treatment of eczema, dermatitis, actinic keratosis, burns, and cold sores.
On September 20, Jupiter Wellness, Inc. (NASDAQ:JUPW) announced that it signed an exclusive licensing deal with Rejoy to develop prescription products for breast cancer patients. The license includes issued patents and technology, as well as formulations. On September 28, the company disclosed that the U.S. Patent and Trademark Office will authorize a patent related to certain use of minoxidil for hair loss disorder alopecia. These are optimistic catalysts for Jupiter Wellness, Inc. (NASDAQ:JUPW), which is one of the best fundamental penny stocks to invest in.
2. Skylight Health Group Inc. (OTC:SLHGF)
Number of Hedge Fund Holders: N/A
Share Price as of October 12: $0.4777
Skylight Health Group Inc. (OTC:SLHGF) was founded in 2014 and is headquartered in Mississauga, Canada. It operates as a healthcare services and technology company in the United States, Canada, the United Kingdom, and Colombia. On September 29, Skylight Health Group Inc. (OTC:SLHGF) offered an update on its current Medicaid contract into Colorado’s new Alternative Payment Model. Skylight Health Group Inc. (OTC:SLHGF) will start participating in the new care model in January 2023 and is expected to have over 20,000 attributed Medicaid members. This will allow Skylight Health Group Inc. (OTC:SLHGF) to benefit from higher funding for its Medicaid members to improve on quality and care management. In mid-September, the company also expanded its value-based care plan in Florida. Skylight Health Group Inc. (OTC:SLHGF) is one of the best fundamental penny stocks to invest in.
1. Seelos Therapeutics, Inc. (NASDAQ:SEEL)
Number of Hedge Fund Holders: 9
Share Price as of October 12: $0.9478
Seelos Therapeutics, Inc. (NASDAQ:SEEL) is a New York-based clinical-stage biopharmaceutical company, focused on the development and commercialization of therapeutics for the central nervous system, respiratory, and other disorders. On September 30, Seelos Therapeutics, Inc. (NASDAQ:SEEL) announced that it will collaborate with Sean M. Healey & AMG Center for ALS in an Expanded Access Program that will be fully financed by a grant from the National Institute of Neurological Disorders and Stroke under the ACT for ALS. Under this program, Seelos Therapeutics, Inc. (NASDAQ:SEEL) intends to enroll 70 patients in a 24-week, open-label study to evaluate SLS-005 in patients with ALS with its current Phase II/III study on the HEALEY Platform. This is a growth catalyst for Seelos Therapeutics, Inc. (NASDAQ:SEEL), making it one of the best fundamental penny stocks to monitor.
Among the hedge funds tracked by Insider Monkey, 9 funds reported owning stakes worth $7.5 million in Seelos Therapeutics, Inc. (NASDAQ:SEEL) at the end of the second quarter of 2022, compared to 8 funds in the prior quarter worth $9.5 million. Jeffrey Gendell’s Tontine Asset Management is the largest stakeholder of the company, with nearly 5 million shares valued at $3.34 million.
You can also take a look at Best Crypto Stocks To Buy and Best Asian Stocks To Buy.
