In this article, we will take a look at the 5 stocks under $5 with high potential. To read our analysis of the recent market activity, you can go to the 11 Stocks Under $5 With High Potential.
5. TETRA Technologies, Inc. (NYSE:TTI)
Share Price as of December 14: $4.50
Number of Hedge Fund Holders: 25
The Woodlands, Texas-based TETRA Technologies, Inc. (NYSE:TTI) is an energy services and solutions company, focused on completion fluids, calcium chloride, water management solutions, frac flowback and production well testing services.
On October 30, TETRA Technologies, Inc. (NYSE:TTI) released its financial results for Q3 2023. Its revenue increased by 12% y-o-y to $151 million while it generated a net income of $5.4 million. The normalized EPS at $0.07 missed consensus estimates by $0.02.
TETRA Technologies, Inc. (NYSE:TTI) has the potential to earn royalty revenues from lithium reserves in South Arkansas where the company holds nearly 35,000 gross acres. Standard Lithium Ltd. intends to exercise the option to acquire lithium mining rights which would entitle TETRA Technologies, Inc. (NYSE:TTI) to 2.5% royalties on gross lithium revenues. Standard Lithium Ltd. is targeting construction in 2025 and commencing production in 2027.
4. Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)
Share Price as of December 14: $4.89
Number of Hedge Fund Holders: 26
Waltham, Massachusetts-based Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) is a leader in weapons detection for security screening. Its technology combines powerful, advanced sensors with artificial intelligence (AI), security ecosystem integrations, and venue analytics to detect threats. The company boasts more than 4,000 active, long-term subscriptions of Evolv Express weapons detection systems.
On November 9, Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) released its financial results for Q3 2023. It generated total revenues of $20 million and a net income of $6 million. At $0.03, the EPS exceeded consensus estimates by $0.17.
Following the earnings release, Cantor Fitzgerald analyst Brett Knoblauch lowered the price target for Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares to $8 from $9 and maintained an ‘Overweight’ rating for the shares. The target price represents a potential upside of 63.60% based on the share price on December 14.
As of Q3 2023, Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares were owned by 26 leading hedge funds with the total shares held by them valued at $92 million.
3. Plug Power, Inc. (NASDAQ:PLUG)
Share Price as of December 14: $4.89
Number of Hedge Fund Holders: 26
Plug Power, Inc. (NASDAQ:PLUG), based in Latham, New York, is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation. It has deployed more than 60,000 fuel cell systems and over 180 fueling stations and operates a state-of-the-art Gigafactory to produce electrolyzers and fuel cells.
On November 7, Plug Power, Inc. (NASDAQ:PLUG) released its financial results for Q3 2023. Its revenues increased by 5% y-o-y to $199 million, while net loss surged by 66% y-o-y to $283 million. The company missed consensus estimates for normalized EPS by $0.15 with quarterly figures of -$0.45.
As of Q3 2023, Plug Power, Inc. (NASDAQ:PLUG) shares were held by 26 hedge funds with the total shares held by them valued at $129 million. Israel Englander’s Millennium Management was its largest hedge fund shareholder with ownership of 3.4 million shares valued at $26 million.
2. Vimeo, Inc. (NASDAQ:VMEO)
Share Price as of December 14: $3.95
Number of Hedge Fund Holders: 28
Vimeo, Inc. (NASDAQ:VMEO) operates a leading video experience platform allowing users to create, collaborate, share and communicate with videos. The platform boasts nearly 300 million users including more than 1.5 million paid subscribers spread across more than 190 countries worldwide.
On November 6, Vimeo, Inc. (NASDAQ:VMEO) released its financial results for Q3 2023. Its revenue declined by 2% y-o-y to $106 million, while it reported a net income of $8.5 million, compared to a net loss of $21.4 million. It generated a normalized EPS of $0.09 which surpassed the consensus estimates by $0.08.
According to Insider Monkey data on 910 hedge funds, 28 hedge funds held shares of Vimeo, Inc. (NASDAQ:VMEO), valued at $114 million, as of Q3 2023. The largest shareholder was Joshua Kushner’s Thrive Capital holding 5.9 million shares valued at $21 million.
1. Grab Holdings Limited (NASDAQ:GRAB)
Share Price as of December 14: $3.18
Number of Hedge Fund Holders: 34
Singapore-based Grab Holdings Limited (NASDAQ:GRAB) is a leading superapp in Southeast Asia, providing everyday services such as mobility, deliveries, and digital financial services to millions of Southeast Asians.
On November 9, Grab Holdings Limited (NASDAQ:GRAB) released its financial results for Q3 2023 which were nearly in-line with the consensus estimates. The company generated a revenue of $615 million and a normalized EPS of -$0.01.
As of Q3 2023, Grab Holdings Limited (NASDAQ:GRAB) was ranked highest on our list of stocks under $5 with high potential. The stock was held by 34 hedge funds with the total shares held by hedge funds valued at $531 million. Tiger Global Management LLC was the leading hedge fund investor with ownership of 51.3 million shares valued at $182 million.
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