In this article, we will take a look at the 5 best long-term penny stocks to buy now. To see more such companies, go directly to 11 Best Long-term Penny Stocks to Buy Now.
5. Ardelyx, Inc. (NASDAQ:ARDX)
Number of Hedge Fund Holders: 20
Ardelyx, Inc. (NASDAQ:ARDX) shares have gained about 47% year to date through August 10.
Ardelyx, Inc. (NASDAQ:ARDX) recently posted Q2 results. GAAP EPS in the quarter came in at -$0.08 beating estimates by $0.04. Revenue in the quarter jumped 784% year over year to $22.3 million.
As of the end of the first quarter of 2023, 20 hedge funds out of the 943 funds in Insider Monkey’s database reported owning stakes in Ardelyx, Inc. (NASDAQ:ARDX). The biggest stakeholder of Ardelyx, Inc. (NASDAQ:ARDX) was Phill Gross and Robert Atchinson’s Adage Capital Management which owns a $9.82 million stake in the company.
4. Vertex Energy, Inc. (NASDAQ:VTNR)
Number of Hedge Fund Holders: 21
A total of 21 hedge funds in Insider Monkey’s database of 943 hedge funds had stakes in Vertex Energy, Inc. (NASDAQ:VTNR) as of the end of the first quarter. The most significant stakeholder of Vertex Energy, Inc. (NASDAQ:VTNR) was Adam Usdan’s Trellus Management Company which had a $21 million stake in the company.
Vertex Energy, Inc. (NASDAQ:VTNR) recently posted second quarter results. GAAP EPS in the quarter came in at -$1.07 missing estimates by $0.79. Revenue in the quarter fell about 29% year over year to $734.9 million, beating estimates by $21.19 million.
3. Ribbon Communications Inc. (NASDAQ:RBBN)
Number of Hedge Fund Holders: 21
Optical networking solutions and software company Ribbon Communications Inc. (NASDAQ:RBBN) ranks 3rd in our list of the best long-term penny stocks to buy now.
As of the end of the first quarter of 2023, 21 hedge funds in Insider Monkey’s database of 943 hedge funds reported having stakes in Ribbon Communications Inc. (NASDAQ:RBBN). The most significant shareholder of Ribbon Communications Inc. (NASDAQ:RBBN) was Mark Coe’s Intrinsic Edge Capital which had a $4.5 million stake in the company.
2. Stitch Fix, Inc. (NASDAQ:SFIX)
Number of Hedge Fund Holders: 23
Personal styling services company Stitch Fix, Inc. (NASDAQ:SFIX) ranks 2nd in our list of the best long-term penny stocks to buy now. In June Stitch Fix, Inc. (NASDAQ:SFIX) posted strong results for the fiscal third quarter. GAAP EPS in the period came in at -$0.19 beating estimates by $0.11. Revenue in the period came in at $394.91 million, surpassing estimates by $6.09 million. Active clients in the quarter were 3,476,000, an 11% YoY decrease.
Out of the 943 hedge funds tracked by Insider Monkey, 23 hedge funds reported owning stakes in Stitch Fix, Inc. (NASDAQ:SFIX). The biggest stakeholder of Stitch Fix, Inc. (NASDAQ:SFIX) during this period was Jack Ripsteen’s Potrero Capital Research which owns an $18.8 million stake in the company.
1. Infinera Corporation (NASDAQ:INFN)
Number of Hedge Fund Holders: 27
Networking products company Infinera Corporation (NASDAQ:INFN) tops our list of the best long-term penny stocks to buy now. Infinera Corporation (NASDAQ:INFN) recently surprised analysts when it posted break-even Q2 results on an adjusted basis. Analysts were expecting Infinera Corporation (NASDAQ:INFN) post a loss.
As of the end of the first quarter of 2023, 27 hedge funds tracked by Insider Monkey were bullish on Infinera Corporation (NASDAQ:INFN). The biggest stakeholder of Infinera Corporation (NASDAQ:INFN) during this period was Howard Marks’ Oaktree Capital Management which owns a $195 million stake in the company.
You can also take a peek at 20 Best Burger Chains in the US and 10 Oversold Blue Chip Stocks To Buy.
