In this article, we discuss the 5 popular penny stocks on Robinhood. If you want to read our detailed analysis of these stocks, go directly to 11 Popular Penny Stocks on Robinhood.
5. Inuvo, Inc. (NYSE:INUV)
Number of Hedge Fund Holders: 3
Inuvo, Inc. (NYSE:INUV) is an information technology company that offers a host of internet-related services. On November 10, investment advisory Alliance Global Partners maintained a Buy rating on Inuvo, Inc. (NYSE:INUV) stock and raised the price target to 85c from 50c.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Inuvo, Inc. (NYSE: INUV) with 33,399 shares worth more than $7,000.
4. Almaden Minerals Ltd. (NYSE:AAU)
Number of Hedge Fund Holders: 3
Almaden Minerals Ltd. (NYSE:AAU) is a Canadian firm that explores, develops and markets minerals. In late October, Almaden Minerals Ltd. (NYSE:AAU) announced that it was reorganizing the structure and would spin off early-stage exploration projects, royalty interests and certain other non-core assets.
At the end of the third quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $48,000 in Almaden Minerals Ltd. (NYSE:AAU), compared to 4 in the preceding quarter worth $72,000.
3. S&W Seed Company (NASDAQ:SANW)
Number of Hedge Fund Holders: 3
S&W Seed Company (NASDAQ:SANW) is an agricultural company that engages in breeding, growing, processing, and selling alfalfa and sorghum seeds. On November 9, S&W Seed Company (NASDAQ:SANW) posted earnings for the first fiscal quarter, reporting a revenue of more than $16 million.
At the end of the third quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $4.9 million in S&W Seed Company (NASDAQ:SANW), compared to 5 in the previous quarter worth $5.2 million.
2. Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)
Number of Hedge Fund Holders: 4
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) is a biopharmaceutical company that focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. On December 22, investment advisory Alliance Global Partners maintained a Buy rating on Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) stock and lowered the price target to $6 from $8.
At the end of the third quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $1.4 million in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), up from 1 in the preceding quarter worth $334.
1. Barnes & Noble Education, Inc. (NYSE:BNED)
Number of Hedge Fund Holders: 10
Barnes & Noble Education, Inc. (NYSE:BNED) is a company that sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores. On December 6, Barnes & Noble Education, Inc. (NYSE:BNED) posted earnings for the second fiscal quarter, reporting earnings per share of $0.47, beating market estimates by $0.04.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Royce & Associates is a leading shareholder in Barnes & Noble Education, Inc. (NYSE:BNED) with 1.7 million shares worth more than $1.9 million.
In its Q2 2023 investor letter, Greenhaven Road Capital, an asset management firm, highlighted a few stocks and Barnes & Noble Education, Inc. (NYSE:BNED) was one of them. Here is what the fund said:
“Barnes & Noble Education, Inc. (NYSE:BNED) runs bookstores in partnership with colleges. They are going through a business transformation to a model they call First Day Complete – a partnership with the colleges where all course books are billed through the school for a flat fee per student. For schools that have transitioned, BNED revenue increases by 90% and gross profits grow by 130%. This fall, the number of First Day Complete schools will grow by more than 50% but the total will still be less than 25% of the overall schools.
In the last letter, I wrote that, “as best as I can tell, the number of people modeling the company’s economics if they are successful with the First Day Complete transition is tiny.” To my knowledge, it was three people consisting of an activist who then joined the Board, and two investors I found on Twitter using pseudonyms. In an effort to both grow the number of people trying to model this nanocap and to check my assumptions, I tweeted that I was starting a Barnes & Noble Education modeling group. It has been surprisingly productive. The number of people who have actually modeled the company has multiplied.
I remain convinced that there is a legitimate path to well over $100M per year in EBITDA for this sub-$70M market cap company. This coming year will be a challenge since not enough schools have transitioned to First Day Complete and there is debt to be refinanced, but I see a path to an 8-10X return from here if the debt gets restructured, allowing the equity holders to realize the benefits of First Day Complete. Each passing day we are a day closer to the First Day Complete transition and a properly capitalized business.”
You can also take a peek at 13 Most Promising Low-Cost Stocks According to Analysts and 11 Best Shipping Stocks That Pay Dividends.
