In this article, we will take a look at the 5 best rising penny stocks to buy. To see more such companies, go directly to 10 Best Rising Penny Stocks to Buy.
5. Aurora Innovation, Inc. (NASDAQ:AUR)
Number of Hedge Fund Holders: 21
Aurora Innovation, Inc. (NASDAQ:AUR) is an EV penny stock that has gained about 141% year to date as of July 8. In May Aurora Innovation, Inc. (NASDAQ:AUR) posted Q1 results. GAAP EPS in the period came in at -$0.17 beating estimates by $0.01. As of the end of the first quarter of 2023, 21 hedge funds tracked by Insider Monkey had stakes in Aurora Innovation, Inc. (NASDAQ:AUR).
4. Nextdoor Holdings, Inc. (NYSE:KIND)
Number of Hedge Fund Holders: 22
Nextdoor Holdings, Inc. (NYSE:KIND) operates a hyperlocal social networking service for neighborhoods. Nextdoor Holdings, Inc. (NYSE:KIND) has gained about 52% year to date through July 8. In June, Nextdoor Holdings, Inc. (NYSE:KIND) announced that it was ready to join the Russell 3000® Index.
In May Nextdoor Holdings, Inc. (NYSE:KIND) posted Q1 results. GAAP EPS in the quarter came in at -$0.09. Revenue in the period fell 2.4% year over year to $49.8 million, beating estimates by $3.86 million. For the second quarter, Nextdoor Holdings, Inc. (NYSE:KIND)’s revenue is expected to be between $53 million to $54 million.
3. Nerdy, Inc. (NYSE:NRDY)
Number of Hedge Fund Holders: 22
Online learning platform company Nerdy, Inc. (NYSE:NRDY)’s shares have gained about 84% so far in 2023. In May Nerdy, Inc. (NYSE:NRDY) posted Q1 results according to which its adjusted income in the period came in at $0.5 million. Revenue in the quarter jumped about 5% year over year to $49.2 million.
For the second quarter Nerdy, Inc. (NYSE:NRDY) expects its revenue to come in the range of $45 to $47 million. For the full year Nerdy, Inc. (NYSE:NRDY) upped its revenue targets.
Insider Monkey’s database of 943 hedge funds shows that 22 hedge funds had stakes in Nerdy, Inc. (NYSE:NRDY) as of the end of the first quarter.
Here is what Baron Opportunity Fund has to say about Nerdy, Inc. (NYSE:NRDY) in its Q4 2021 investor letter:
“Nerdy Inc. operates a digital learning platform in the U.S. that provides live online tutoring in multiple formats, including one-on-one and small-to-large groups. The offering includes K-12 courses, college, professional, GMAT, SAT, and other prep. Though bookings for future classes remained healthy, many sessions were delayed from the fourth quarter as families opted to take longer holiday trips and kids resumed afterschool activities, making it more difficult to schedule tutoring, resulting in weaker-than-projected recognized revenues. Given near-term uncertainty, a short-term tax loss, and other investment opportunities, we chose to exit the position.”
2. Brookdale Senior Living, Inc. (NYSE:BKD)
Number of Hedge Fund Holders: 30
Retirement homes company Brookdale Senior Living, Inc. (NYSE:BKD) shares have gained about 52% so far in 2023 through July 8. In the first quarter Brookdale Senior Living, Inc. (NYSE:BKD)’s GAAP EPS came in at -$0.20 surpassing estimates by $0.09. Revenue in the period jumped about 11.1% year over year to $753.26 million, beating estimates by $0.95 million.
Insider Monkey’s database of 943 hedge funds shows that 30 funds had stakes in Brookdale Senior Living, Inc. (NYSE:BKD). The most notable hedge fund stakeholder of Brookdale Senior Living, Inc. (NYSE:BKD) was Larry Robbins’ Glenview Capital which owns a $55 million stake in the company.
1. Opendoor Technologies Inc. (NASDAQ:OPEN)
Number of Hedge Fund Holders: 32
Residential real estate company Opendoor Technologies Inc. (NASDAQ:OPEN) has gained about 250% in value year to date as of July 8. As of the end of the first quarter of 2023, 32 hedge funds tracked by Insider Monkey had stakes in Opendoor Technologies Inc. (NASDAQ:OPEN). The biggest stakeholder of Opendoor Technologies Inc. (NASDAQ:OPEN) during this period was Daniel Patrick Gibson’s Sylebra Capital Management which owns a $59 million stake in the company.
You can also take a peek at 12 Best 5G Stocks To Buy Now and 10 Best Fast Growth Stocks To Buy.
