In this piece, we will take a look at the five most volatile stocks under $5 for day trading. If you want to learn more about volatility, then check out 11 Most Volatile Stocks Under $5 For Day Trading.
5. RedHill Biopharma Ltd. (NASDAQ:RDHL)
Latest Beta Reading: 2.14
Number of Hedge Fund Investors In Q3 2023: 3
RedHill Biopharma Ltd. (NASDAQ:RDHL) is an Israeli healthcare company that develops treatments for cancer, pain management, and other ailments. The firm scored a win in November 2023 when the Food and Drug Administration (FDA) granted exclusive marketing rights to its antibiotic drug, providing the firm with a moat of sorts for the near long term future.
Three out of the 910 hedge funds part of Insider Monkey’s Q3 2023 research were the firm’s shareholders. RedHill Biopharma Ltd. (NASDAQ:RDHL)’s biggest hedge fund investor in our database is Steven Boyd’s Armistice Capital since it owns 722,894 shares that were worth $368,876 before the shares shot up in late November.
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Follow Redhill Biopharma Ltd. (NASDAQ:RDHL)
4. Aptevo Therapeutics Inc. (NASDAQ:APVO)
Latest Beta Reading: 5.24
Number of Hedge Fund Investors In Q3 2023: 4
Aptevo Therapeutics Inc. (NASDAQ:APVO) is an American biotechnology company developing cancer treatments. The firm ended its third quarter with $19.1 million in cash which was enough to cover all its current expenses for the third quarter for three quarters.
During Q3 2023, four out of the 910 hedge funds part of Insider Monkey’s database had bought and owned Aptevo Therapeutics Inc. (NASDAQ:APVO)’s shares. Out of these, the firm’s biggest shareholder was Hal Mintz’s Sabby Capital as it owned a $440,276 stake.
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Follow Aptevo Therapeutics Inc. (NASDAQ:APVO)
3. Bakkt Holdings, Inc. (NYSE:BKKT)
Latest Beta Reading: 4.23
Number of Hedge Fund Investors In Q3 2023: 4
Bakkt Holdings, Inc. (NYSE:BKKT) is a software company that provides products to enable businesses and their customers use cryptocurrency. Its third quarter results saw the firm’s revenue grow by more than 10x to $204 million as the results were beefed up by an acquisition of another company.
By September 2023 end, four out of the 910 hedge funds profiled by Insider Monkey had held a stake in Bakkt Holdings, Inc. (NYSE:BKKT).
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Follow Bakkt Holdings Inc.
2. Independence Contract Drilling, Inc. (NYSE:ICD)
Latest Beta Reading: 4.93
Number of Hedge Fund Investors In Q3 2023: 8
Independence Contract Drilling, Inc. (NYSE:ICD) is a Houston, Texas based contract drilling company. It serves the needs of the oil industry and engages in offshore oil drilling. Out of its last four quarters, the firm has beaten analyst EPS estimates in three.
Insider Monkey dug through 910 hedge funds for their shareholdings during this year’s third quarter and found eight had invested in the company. Independence Contract Drilling, Inc. (NYSE:ICD)’s largest hedge fund investor in our database is Marc Lisker, Glenn Fuhrman, and John Phelan’s MSDC Management due to its $5.1 million investment.
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Follow Independence Contract Drilling Inc. (NYSE:ICD)
1. Pagaya Technologies Ltd. (NASDAQ:PGY)
Latest Beta Reading: 7.94
Number of Hedge Fund Investors In Q3 2023: 16
Pagaya Technologies Ltd. (NASDAQ:PGY) is a financial technology company that provides firms with the tools to manage their loan sourcing requirements. Its shares are rated Buy on average and analysts have set an average share price target of $3.46.
16 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 research had bought and owned Pagaya Technologies Ltd. (NASDAQ:PGY)’s shares.
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Follow Pagaya Technologies Ltd.
Disclosure: None. You can also take a look at 20 Tax-Friendly States for High Income in the US and 13 Best Growth Stocks To Buy According To George Soros.
