5 Cheap Hemp Stocks Redditors are Buying

1. Calyxt, Inc. (NASDAQ: CLXT)

Price as of August 16, 2021: $3.55 per share

Calyxt, Inc. (NASDAQ: CLXT) is ranked first on our list of 10 cheap hemp stocks Redditors are buying. The company is based in Minnesota and markets plant-based solutions. It has a market cap of $132 million and posted more than $23 million in revenue last year. The company was founded in 2010. At the end of March this year, the firm had nine projects in various development stages across the plant industry, including hemp. The short interest on the stock is more than 4%. 

In earnings results for the second quarter, posted on August 5, Calyxt, Inc. (NASDAQ: CLXT) reported a revenue of close to $12 million, up 415% compared to the revenue over the same period last year and beating estimates by $4.4 million. 

At the end of the first quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $1.1 million in Calyxt, Inc. (NASDAQ: CLXT), up from 4 in the preceding quarter worth $1.3 million. 

You can also take a peek at 12 Best Marijuana Stocks to Invest In and 13 Best Hemp Stocks to Buy Now.

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