5 Best High Volume Penny Stocks to Buy Now

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1. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 39 

Share Price as of November 3: $2.29

Volume as of November 3: 25,028,262

Opendoor Technologies Inc. (NASDAQ:OPEN) operates a digital platform for residential real estate in the United States. It is one of the major penny stocks to invest in. On August 4, Opendoor Technologies declared a partnership with Zillow Group, a Seattle-based real estate giant, which will allow home sellers on Zillow’s platform to request an instant cash offer from Opendoor. The transaction of purchase is facilitated by Opendoor. 

On October 6, Keefe Bruyette analyst Ryan Tomasello maintained a Market Perform rating on Opendoor Technologies Inc. (NASDAQ:OPEN) stock and lowered the price target to $3.25 from $7.25, noting that the company sees low housing visibility into year-end and views consensus estimates as optimistic. 

At the end of the second quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $861.7 million in Opendoor Technologies Inc. (NASDAQ:OPEN), compared to 36 in the preceding quarter worth $1 billion.

In its Q4 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Opendoor Technologies Inc. (NASDAQ:OPEN) was one of them. Here is what the fund said:

“The Fund invests in secular growth and innovative businesses across all market capitalizations, with the bulk of the portfolio landing in the large-cap zone. The Fund is categorized as US Large Growth by Morningstar. As of the end of the fourth quarter, the largest market cap holding in the Fund was $2.5 trillion and the smallest was $791 million. The median market cap of the Fund was $27.5 billion.

The Fund had $1.7 billion of assets under management. The Fund had investments in 63 securities. The Fund’s top 10 positions accounted for 45.4% of net assets. Fund inflows were positive for 2021. We sold Opendoor Technologies Inc. (NASDAQ:OPEN) because we identified issues relating to our long-term theses in the company, and we decided to exit the positions to fund other purchases.”

Follow Opendoor Technologies Inc.

You can also take a peek at 10 Best Bargain Stocks To Buy Right Now and 10 Best Infrastructure Stocks To Buy Now.

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