In this article, we will take a look at the 5 best high risk penny stocks to buy now. To see more such companies, go directly to 12 Best High Risk Penny Stocks to Buy Now.
5. Gossamer Bio, Inc. (NASDAQ:GOSS)
Number of Hedge Fund Holders: 20
Ranking 5th in our list of the best high risk penny stocks is Gossamer Bio, Inc. (NASDAQ:GOSS), a biopharma company working on treatments in immunology, inflammation, and oncology segments. Earlier in August Gossamer Bio, Inc. (NASDAQ:GOSS) posted Q2 results. GAAP EPS in the period came in at -$0.45 beating estimates by $0.04.
A total of 20 hedge funds in Insider Monkey’s database of hedge funds were long Gossamer Bio, Inc. (NASDAQ:GOSS) as of the end of the second quarter of 2023.
4. OPKO Health, Inc. (NASDAQ:OPK)
Number of Hedge Fund Holders: 20
Medical diagnostics company OPKO Health, Inc. (NASDAQ:OPK) is one of the best high risk stocks. So far this year OPKO Health, Inc. (NASDAQ:OPK) has gained about 45% in value, proving itself to be a rewarding investment. Earlier in August OPKO Health, Inc. (NASDAQ:OPK) beat analyst estimates for both revenue and earnings for the second quarter.
A total of 20 hedge funds in Insider Monkey’s database had stakes in OPKO Health, Inc. (NASDAQ:OPK) as of the end of the second quarter.
3. ACCO Brands Corporation (NYSE:ACCO)
Number of Hedge Fund Holders: 21
ACCO Brands Corporation (NYSE:ACCO) make consumer, business, and academic products, including dry erase boards, school notebooks, storage products, among many other items. ACCO Brands Corporation (NYSE:ACCO) is also a dividend-paying stock, with a yield over 4%. Earlier in August ACCO Brands Corporation (NYSE:ACCO) posted better-than-expected quarterly results.
As of the end of the second quarter of 2023, 21 hedge funds out of the 910 funds in Insider Monkey’s database were long ACCO Brands Corporation (NYSE:ACCO). The biggest stakeholder of ACCO Brands Corporation (NYSE:ACCO) during this period was Israel Englander’s Millennium Management which owns an $11.6 million stake in the company.
2. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)
Number of Hedge Fund Holders: 23
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) ranks 2nd in our list of the best high risk penny stocks to buy now. A total of 23 hedge funds in Insider Monkey’s database of 910 hedge funds reported owning stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA).
1. The RealReal, Inc. (NASDAQ:REAL)
Number of Hedge Fund Holders: 24
Resale luxury goods marketplace The RealReal, Inc. (NASDAQ:REAL) Inc is one of the best high risk penny stocks to buy now according to hedge funds. The RealReal, Inc. (NASDAQ:REAL)’s management talked about the state of business during RealReal’s latest earnings call and said the following in an answer to a question:
“So we have seen ongoing and continuous improvement in our gross margins primarily due to the change in the mix of our business where we have focused more on the very profitable consigned business and we have deemphasized the direct business. And as you’ve seen from our results, the consigned business generally is about an 85% margin business. And traditionally, the direct business has been more like a 15% business which looks in the first half of the year has been more flat as we’ve been trying to move the inventory sort of less favorably and we’ve had the discount. So what you’ve seen is this change in mix and a significant improvement over 900 basis points again this quarter.
So for the first half of the year, we ended up at about 65% gross margin. We expect that to continue to improve in the second half of the year. I’ve said in the past that the gross margin could reach high 60s, even potentially scare a 7 handle but we haven’t committed to that. But that’s the trend you should expect is continued improvement and get into the very high 60s and that would be sustainable once we get to that rate because we continue to follow this strategy of really focusing on the high-margin consigned business.”
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