7 Best Nanotech Penny Stocks to Buy

3. Nano Dimension (NASDAQ:NNDM)

Share Price as of October 7: $2.38

Number of Hedge Fund Holders: 8

Nano Dimension Ltd. (NASDAQ:NNDM) is one of the best nanotech stocks to buy as it engages in additive manufacturing by offering 3D printers consisting of AME systems. It also provides additive electronics robotics and control systems, which include surface-mount-technology, electronics assembly equipment for electronic components on Hi-PEDs

During the past few years, Nano Dimension Ltd. (NASDAQ:NNDM) has primarily operated as an acquirer of AM and 3D printing start-ups, using its sizable cash war chest during the pandemic-fueled market frenzy of late 2020 and early 2021.

The company has moved to strengthen its prospects in the industry with a proposed merger with Desktop Metal, Inc. (NYSE:DM) a pioneer in Additive Manufacturing 2.0. The merger is poised to strengthen its ambitions around the mass production of industrial, medical, and consumer products through its advanced 3D printing technologies.

The proposed merger is anticipated to bring together the best aspects of both businesses, combining Nano Dimension Ltd. (NASDAQ:NNDM) emphasis on additive electronics and manufacturing with Desktop Metal’s proficiency in 3D printing techniques like binder jetting and digital light processing.

The nanotech company delivered solid second-quarter results, with revenues increasing 21% year over year to $14.7 million, attributed to growth in its core business and strong performance amid active acquisitions. The sequential sales uptick suggests Nano has landed a new customer or made another significant purchase from an existing client, and investors are bullish on the news.

8 hedge funds showed a bullish stance on the stock as of the second quarter and own stocks worth $60.35 million. Anson Investments is the largest shareholder in the company, holding $45.38 million worth of stock as of June 30.

In the second quarter, eight hedge funds held long positions in Nano Dimension Ltd. (NASDAQ:NNDM), with their combined stakes valued at $60.4 million.