In this article, we will take a look at the 5 best tech stocks under $5. If you wish to see our detailed analysis of the technology sector, go directly to the 10 Best Tech Stocks Under $5.
5. Resonant Inc. (NASDAQ:RESN)
Number of Hedge Fund Holders: 10
Stock Price as of October 15: $2.52
Resonant Inc. (NASDAQ:RESN) is a Texas-based late-stage development company that provides filter solutions for radio frequency (RF) and front ends for the mobile device industry. Ranked sixth on our list of the 10 best tech stocks under $5, Resonant Inc. (NASDAQ:RESN) has a market capitalization of $155.35 million.
Benchmark analyst David Williams remains bullish on Resonant Inc. (NASDAQ:RESN), keeping a Buy rating on the company alongside a $6 price target on its shares.
According to the company’s earnings report for the second quarter of 2021, the reported EPS came in at -$0.11, falling short of the estimates by $0.01. On the other hand, the revenue for the quarter was declared to be $614,000, crossing market estimates by $0.11 million.
Of the 873 elite funds tracked by Insider Monkey, 10 were long in Resonant Inc. (NASDAQ:RESN) at the end of June, up from 6 in the first quarter of 2021. Israel Englander of Millennium Management is the leading stakeholder of the company.
4. Trivago N.V (NASDAQ:TRVG)
Number of Hedge Fund Holders: 10
Stock Price as of October 15: $2.65
Trivago N.V (NASDAQ:TRVG) operates as a transnational technology company that engages in the provision of an online hotel search platform, alongside providing products and services related to tourism and lodgings. Based in Dusseldorf, Germany, Trivago N.V ranks fourth on our list of the 10 best tech stocks under $5.
Earlier this August, Mizuho analyst James Lee reiterated a Buy rating on Trivago N.V. (NASDAQ:TRVG) stock with a price target of $3.60, noting that the Covid-19 recovery was moving in the right direction.
At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $67 million in Trivago N.V. (NASDAQ:TRVG), the same as in the preceding quarter worth $84 million.
Boston-based investment firm PAR Capital Management is a leading shareholder in Trivago N.V. (NASDAQ:TRVG) with 19 million shares worth more than $63 million.
3. Pixelworks, Inc. (NASDAQ:PXLW)
Number of Hedge Fund Holders: 10
Stock Price as of October 15: $4.48
Pixelworks, Inc. (NASDAQ:PXLW) is a semiconductor manufacturing company that provides video and pixel processing software. In addition, the company also provides digital display and projection devices. Shares of the company increased by 13.12% year to date due to its commercial partnership with consumer electronics manufacturer TCL Group and smartphone producer OnePlus. Based in San Jose, California, the company ranks third on our list of the 10 best tech stocks under $5.
The company issued its quarterly earnings report for the second quarter of 2021 on August 8, with reported earning per share at -$0.05, beating market estimates by $0.02. The firm also reported revenues amounting to $14.05 million, an increase of over 51.85% on a year-over-year basis, crossing forecast predictions by $48,000.
Of the 873 elite funds tracked by Insider Monkey, 10 were long in Pixelworks, Inc. (NASDAQ:PXLW) at the end of June, up from 8 in the first quarter of 2021. Israel Englander of Millennium Management is among the leading stakeholders of the company.
On October 11, Needham analyst Rajvindra Gill initiated coverage of Pixelworks, Inc. (NASDAQ:PXLW)with a Buy rating and $7.00 price target on its shares.
2. Waitr Holdings, Inc. (NASDAQ:WTRH)
Number of Hedge Fund Holders: 14
Stock Price as of October 15: $1.42
Waitr Holdings, Inc. (NASDAQ:WTRH) provides an online ordering technology platform for on-demand food ordering and delivery. Morgan Stanley (NYSE:MS) disclosed a 10.3% stake in the company. Ranked second on our list of the 10 best tech stocks under $5, Waitr Holdings, Inc. (NASDAQ:WTRH) has a market capitalization of $170.20 million.
For the second quarter of 2021, Waitr Holdings, Inc. (NASDAQ:WTRH) reported an EPS of -$0.04. Additionally, the company’s revenue for the quarter amounted to $49.17 million.
There were 14 hedge funds that reported owning stakes in Waitr Holdings, Inc. (NASDAQ:WTRH) at the end of the second quarter of 2021, compared to 13 funds a quarter earlier. The total value of these stakes at the end of Q2 is $40.5 million.
Out of the hedge funds being tracked by Insider Monkey, Christian Leone’s Luxor Capital Group is the leading shareholder in Waitr Holdings, Inc. (NASDAQ:WTRH), with over 10 million shares worth more than $18 million.
1. Synchronoss Technologies, Inc. (NASDAQ:SNCR)
Number of Hedge Fund Holders: 22
Stock Price as of October 15: $2.27
Synchronoss Technologies, Inc. (NASDAQ:SNCR) is a New Jersey-based software company that provides cloud, digital, messaging, and network management platforms across the world. The company comes in at first place on our list of the 10 best tech stocks under $5.
Earlier this August, Roth Capital analyst Richard Baldry maintained a Neutral rating on Synchronoss Technologies, Inc. (NASDAQ:SNCR) with a price target of $3.
By the end of the second quarter of 2021, 22 hedge funds out of the 873 tracked by Insider Monkey held stakes in Synchronoss Technologies, Inc. (NASDAQ:SNCR) worth roughly $34.1 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $8.4 million.
Out of the hedge funds being tracked by Insider Monkey, Carnell Capital is the leading stakeholder in Synchronoss Technologies, Inc. (NASDAQ:SNCR), with over 2.2 million shares worth roughly $7.99 million.
You can also take a peek at the 10 Stocks to Sell According to Julian Robertson’s Tiger Management and Daniel Patrick Gibson’s Sylebra Capital Management is Buying AMD and 9 Other Stocks.
