In this article, we discuss the 5 solar penny stocks to buy according to Reddit. If you want to read our detailed analysis of these stocks, go directly to the 10 Solar Penny Stocks to Buy According to Reddit.
5. Spectacular Solar, Inc. (OTC: SPSO)
Number of Hedge Fund Holders: N/A
Spectacular Solar, Inc. (OTC: SPSO) is ranked fifth on our list of 10 solar penny stocks to buy according to Reddit. The company operates from New Jersey. It primarily engages in solar system installations but also offers other services like roofing contracts and fund management. The company was founded in 2004 with the aim of making solar systems easy and affordable for both commercial and residential customers. In addition to installing the solar systems, the firm also offers support services related to the systems.
The 52-week price range of Spectacular Solar, Inc. (OTC: SPSO) stock lies between $0.02 and $0.13. The volume is 494,403. The average volume of the stock over three months is 841,201. The headquarters of the firm are in Rahway.
Spectacular Solar, Inc. (OTC: SPSO) claims that the solar systems it installs for commercial and residential clients are custom-designed. It also offers solar financing options without any upfront payments, only charging monthly fees that it claims are lower than other power options.
4. United States Antimony Corporation (NYSE: UAMY)
Number of Hedge Fund Holders: 3
United States Antimony Corporation (NYSE: UAMY) is a Montana-based company in the metals and mining business. It is placed fourth on our list of 10 solar penny stocks to buy according to Reddit. The company sells zeolite products that are used by the solar industry. It has a market cap of $114 million and posted more than $5.2 million in revenue last year. The short interest on the stock is 3.3%. Some of the other products marketed by the firm include antimony, silver, and gold, among others.
In February this year, United States Antimony Corporation (NYSE: UAMY) revealed that it had entered into an agreement with institutional investors for the sale of close to 11 million shares at a price of $1.30 per share. The gross proceeds from the sale would be over $14 million.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in United States Antimony Corporation (NYSE: UAMY) with 163,386 shares worth more than $198,000.
3. Orbital Energy Group, Inc. (NASDAQ: OEG)
Number of Hedge Fund Holders: 5
Orbital Energy Group, Inc. (NASDAQ: OEG) is a Texas-based company that provides electric power and solar infrastructure. It is ranked third on our list of 10 solar penny stocks to buy according to Reddit. On August 9, the share price of the firm jumped close to 4% after it announced that it had won an engineering, procurement and construction contract from a large energy company for the construction of a 130 MV solar farm. The company plans to construct the project over 800 acres of land and install 350,000 solar panels in the area.
On June 16, investment advisory B Riley reiterated a Buy rating on Orbital Energy Group, Inc. (NASDAQ: OEG) stock with a price target of $7, noting that the company was positioned for significant growth in the coming months.
At the end of the first quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $1.8 million in Orbital Energy Group, Inc. (NASDAQ: OEG), up from 3 in the preceding quarter worth $240,000.
2. Energous Corporation (NASDAQ: WATT)
Number of Hedge Fund Holders: 6
Energous Corporation (NASDAQ: WATT) is placed second on our list of 10 solar penny stocks to buy according to Reddit. The company is headquartered in California and markets wire-free charging solutions. On July 14, the share price of the company soared more than 4.3% after it announced that WattUp, an active energy harvesting solution, would be available for sale and include a feature that would let the product charge multiple devices at one time. The company has a market cap of over $166 million.
On July 30, investment advisory Roth Capital maintained a Buy rating on Energous Corporation (NASDAQ: WATT) stock but lowered the price target to $4 from $5, noting that the products in the pipeline could drive initial revenue growth for the company.
At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $2.7 million in Energous Corporation (NASDAQ: WATT), up from 5 in the preceding quarter worth $1.4 million.
1. Sunworks, Inc. (NASDAQ: SUNW)
Number of Hedge Fund Holders: 6
Sunworks, Inc. (NASDAQ: SUNW) is ranked first on our list of 10 solar penny stocks to buy according to Reddit. The firm operates from California and markets photovoltaic power systems for use in a variety of purposes. In earnings results for the second quarter, posted on August 12, the company reported earnings per share of -$0.07, beating market predictions by $0.08. The revenue over the period was more than $32 million, up over 231% compared to the revenue over the same period last year.
In April, investment advisory Roth Capital resumed coverage of Sunworks, Inc. (NASDAQ: SUNW) stock with a Neutral rating and a price target of $10.75, highlighting the improved revenue growth and margin expansion of the firm.
At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $13.2 million in Sunworks, Inc. (NASDAQ: SUNW), up from 4 in the previous quarter worth $1.2 million.
You can also take a peek at 10 Best Dividend Stocks to Buy in August According to Hedge Funds and 10 Best Nickel Stocks to Buy Now.
