5 Best New Penny Stocks to Buy Now

2. FTAI Infrastructure Inc. (NASDAQ:FIP)

Number of Hedge Fund Holders: 19

Infrastructure company FTAI Infrastructure Inc. (NASDAQ:FIP) ranks 2nd in our list of the best new penny stocks to buy now according to hedge funds. FTAI Infrastructure Inc. (NASDAQ:FIP) has gained about 24% year to date through August 10. A total of 19 hedge funds in Insider Monkey’s database of 943 hedge funds reported owning stakes in FTAI Infrastructure Inc. (NASDAQ:FIP).

During the second quarter of 2023, FTAI Infrastructure Inc. (NASDAQ:FIP)’s GAAP EPS came in at -$0.38, missing estimates by $0.06. Revenue in the quarter jumped about 24.2% year over year to $81.83 million.