In this piece, we will take a look at 5 recent IPOs in 2023 in small-cap stocks. If you want to take a look at background activity in the segment of the market this year and check out bigger IPOs, then head on over to 10 Recent IPOs in 2023 to Consider.
5. Oddity Tech Ltd. (NASDAQ:ODD)
Latest Market Capitalization: $2.88 billion
Oddity Tech Ltd. (NASDAQ:ODD) is a beauty products company that uses algorithms to try and match people’s beauty needs with the correct set of products. Its initial public offering took place in July, and it owns a skincare brand and a cosmetics brand. The firm uses hyperspectral imaging technology to evaluate various features of a user’s skin through a smartphone and detect invisible wavelengths of light as part of its evaluation process.
4. Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX)
Latest Market Capitalization: $2.52 billion (1MXN = 0.060USD)
Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX), simply known as Vesta, is a Mexican company headquartered in Mexico City. It is an industrial real estate firm that owns and manages buildings such as distribution centers. It announced its IPO in June through American Depository Shares (ADSs) which saw one ADS being equal to ten shares of the company that traded on the BMV exchange. This enabled the firm to raise an impressive $445 million in gross proceeds, and its latest second fiscal quarter saw it raise annual guidance and deliver 20.5% annual revenue growth in U.S. dollar terms.
3. Acelyrin, Inc. (NASDAQ:SLRN)
Latest Market Capitalization: $2.46 billion
Acelyrin, Inc. (NASDAQ:SLRN) is a relatively young company that was set up in 2020. It is a biotechnology firm that is developing treatments for diseases such as arthritis, uveitis, eye disease, and urticaria. Acelyrin, Inc. (NASDAQ:SLRN) is another stock on our list that is rated Strong Buy on average, and the average analyst share price target of $42.67 courtesy of three analysts places a nice upside of roughly $17 per share.
Acelyrin, Inc. (NASDAQ:SLRN)’s first quarter earnings, which were the first after its IPO, saw the company outline that the IPO had brought in $573 million in net proceeds and reported a combined cash balance of $862 million. It believes that this money will be sufficient to fund all of its drugs in trial.
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2. Enlight Renewable Energy Ltd (NASDAQ:ENLT)
Latest Market Capitalization: $2.19 billion
Enlight Renewable Energy Ltd (NASDAQ:ENLT) is an Israeli firm that develops renewable power projects that use solar and wind power. It is currently installing wind turbines in Israel’s largest renewable power project.
As of March 2023, ten of the 943 hedge funds part of Insider Monkey’s database had bought and owned Enlight Renewable Energy Ltd (NASDAQ:ENLT)’s shares. The stock is rated Strong Buy on average and has an average share price target of $21.33.
1. Interactive Strength Inc. (NASDAQ:TRNR)
Latest Market Capitalization: $28.12 million
Interactive Strength Inc. (NASDAQ:TRNR) sells fitness mirrors and professional health coaching services digitally. Its fitness mirrors are quite impressive as they have won Men’s Health Home Gym award for the best in class for 2023 products. As it listed its shares for an IPO in April, Interactive Strength Inc. (NASDAQ:TRNR) shared that digitally hiring instructors and providing services online allows it to save labor and distribution costs, with training programs slated to be a comfortable source of recurring revenue.
Research firm Baptista Research has forecast $4.6 billion in revenue for Interactive Strength Inc. (NASDAQ:TRNR) at the close of the firm’s fiscal year 2024 as it set a Buy rating for the IPO in February. Additionally, while it expects sales growth to average above 100% during the next couple of years, profit margins will still remain negative but will significantly improve in the meantime.
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You can also take a look at 11 High Growth Utility Stocks to Buy and 15 High Growth Large Cap Stocks to Invest In.
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