5 Best Penny Stocks to Buy in September

1. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Number of Hedge Fund Holders: 29

Share Price as of September 7: $2.555

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is a Massachusetts-based company that develops a platform for cell programming. The company serves multiple end markets, such as specialty chemicals, agriculture, food, consumer products, and pharmaceuticals. The company’s Q2 2022 financials included a top-line beat and a guidance raise. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) also raised its 2022 revenue outlook to $425 million-$440 million from the earlier forecast of $375 million-$390 million, as well as exceeding the Street estimates.

On August 16, Raymond James analyst Rahul Sarugaser raised the price target on Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) to $14.50 from $11.50 and maintained an Outperform rating on the shares. The analyst sees great significance in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) adding 13 sector-diversified new programs in the June quarter, boosting his confidence that it should meet its target of 60 new programs this year.

Among the hedge funds tracked by Insider Monkey, 29 hedge funds were long Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) at the end of Q2 2022, compared to 30 funds in the prior quarter.

You can also take a look at 10 Best Media Stocks To Buy and Best Cheap Tech Stocks. 

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