5 Tech Penny Stocks Reddit is Buying

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1. eMagin Corporation (NYSE: EMAN)

Number of Hedge Fund Holders: 9
Price as of August 5, 2021: $2.86

eMagin Corporation (NYSE: EMAN) is ranked first on our list of 10 tech penny stocks Reddit is buying. The company operates from New York and engages in the development and selling of organic light-emitting diode displays and other virtual imaging products. It was founded in 1996 and has a market cap of close to $200 million. In earnings results for the first quarter, posted on May 13, the firm reported a revenue of $6.7 million, up 0.6% compared to the revenue over the same period last year and beating market estimates by $0.27 million. 

In March, investment advisory HC Wainwright reiterated a Buy rating on eMagin Corporation (NYSE: EMAN) stock and raised the price target to $5 from $2, noting that the firm was well positioned for growth this year on the back of improving virtual reality prospects.

At the end of the first quarter of 2021, 9 hedge funds in the database of Insider Monkey held stakes worth $5.9 million in eMagin Corporation (NYSE: EMAN), up from 5 in the preceding quarter worth $786,000. 

You can also take a peek at 10 Stocks Reddit is Piling Into Before Earnings and 10 Best One Dollar Stocks to Buy Now.

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