In this article, we discuss the 5 best penny stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Penny Stocks to Buy Now.
5. Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO)
Number of Hedge Fund Holders: 12
Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) is ranked fifth on our list of 15 best penny stocks to buy now. The company operates from Ohio and makes and sells biopharmaceutical products. On August 11, the company posted earnings for the second quarter, reporting earnings per share of -$0.09, beating market estimates by $0.31. The cash and cash equivalents over the period were close to $37 million at the end of the second quarter. The firm has a market cap of over $109 million.
On July 8, investment advisory HC Wainwright upgraded Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) stock to Buy from Neutral with a price target of $22, noting that the firm was on a path to self-sustainability.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm OrbiMed Advisors is a leading shareholder in Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) with 5.1 million shares worth more than $6.7 million.
4. VEON Ltd. (NASDAQ: VEON)
Number of Hedge Fund Holders: 13
VEON Ltd. (NASDAQ: VEON) is a Netherlands-based company that markets telecommunication and mobile services. It is ranked fourth on our list of 15 best penny stocks to buy now. It has a market cap of $2.7 billion and posted more than $7.8 billion in revenue last year. The company serves more than 200 million customers spread over countries such as Russia, Pakistan, Algeria, Uzbekistan, Ukraine, Bangladesh, Kazakhstan, Kyrgyzstan, and Georgia, among others. It markets services under the Beeline, Kyivstar, and Jazz brands.
On June 17, investment advisory UBS upgraded VEON Ltd. (NASDAQ: VEON) stock to Buy from Neutral and raised the price target to $2.40 from $1.65. Ondrej Cabejsek, an analyst at the firm, issued the ratings update.
At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $51 million in VEON Ltd. (NASDAQ: VEON), up from 8 in the previous quarter worth $20 million.
3. CarLotz, Inc. (NASDAQ: LOTZ)
Number of Hedge Fund Holders: 16
CarLotz, Inc. (NASDAQ: LOTZ) is a Virginia-based firm that owns and runs a used vehicle marketplace. It is placed third on our list of 15 best penny stocks to buy now. The firm was founded in 2011. It serves many different types of customers in the US which include corporate partners, fleet leasing companies, rental car firms, banks, wholesalers, original equipment manufacturers, and retailers, among others. The company operates ten used vehicle hubs for business across the US.
CarLotz, Inc. (NASDAQ: LOTZ) has a market cap of over $458 million and posted $118 million in revenue last year. In earnings results for the second quarter, posted on August 9, the firm reported a revenue of $50 million, up 93% year-on-year and beating estimates by $2.6 million.
At the end of the second quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $48 million in CarLotz, Inc. (NASDAQ: LOTZ), down from 19 in the preceding quarter worth $106 million.
2. IAMGOLD Corporation (NYSE: IAG)
Number of Hedge Fund Holders: 19
IAMGOLD Corporation (NYSE: IAG) is ranked second on our list of 15 best penny stocks to buy now. The firm is based in Canada. It develops and operates gold mining properties. On August 5, the company posted earnings for the second quarter, reporting earnings per share of -$0.01, beating market estimates by $0.01. The revenue over the period was $265 million, down 6% compared to the revenue over the same period last year. However, the firm provided improved guidance numbers for the third quarter in the earnings report.
On July 16, investment advisory National Bank maintained an Outperform rating on IAMGOLD Corporation (NYSE: IAG) stock but lowered the price target to C$6 from C$6.25. John Sclodnick, an analyst at the firm, issued the ratings update.
At the end of the second quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $124 million in IAMGOLD Corporation (NYSE: IAG), down from 22 the preceding quarter worth $134 million.
1. Transocean Ltd. (NYSE: RIG)
Number of Hedge Fund Holders: 27
Transocean Ltd. (NYSE: RIG) is placed first on our list of 15 best penny stocks to buy now. The company is headquartered in Switzerland and markets offshore drilling services. The company operates a fleet of 37 mobile offshore drilling units. The company posted earnings for the second quarter on August 2, reporting a revenue of $713 million, beating market predictions by $29 million. The revenue efficiency over the period was 98%, up 0.6% year-on-year. According to the July 2021 Fleet Status report, the contract backlog stood at $7.3 billion.
Transocean Ltd. (NYSE: RIG) has a market cap of more than $2 billion and posted $3 billion in revenue last year. It was founded in 1926. The short interest on the stock is 9.9% and the volume is 1,125,121.
At the end of the second quarter of 2021, 27 hedge funds in the database of Insider Monkey held stakes worth $313 million in Transocean Ltd. (NYSE: RIG), up from 20 in the preceding quarter worth $148 million.
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