7 Best Nanotech Penny Stocks to Buy

1. 3D Systems (NYSE:DDD)

Share Price as of October 7: $3.06

Number of Hedge Fund Holders: 15

3D Systems (NYSE:DDD) is one of the best nanotech penny stocks to buy as a leading 3D printing and digital manufacturing solutions provider. It is one of the companies that has benefited from the 3D printing industry, experiencing tremendous growth thanks to ongoing research and development that improves the technology.

Scientists are currently developing micro and nanoscale manufacturing techniques due to the overwhelming interest in 3D printing. In the realm of nanoscale 3D printing, the goal is to 3D print objects measured in nanometers.

With the use of this technology, objects can be assembled atom by atom, marking a promising advancement in additive manufacturing. Nanoscale technology can potentially improve productivity and efficiency across a range of industries, including semiconductors, medical devices, batteries, and nanorobotics, microelectronics, and sensor technologies. These industries stand to gain much from the accuracy-preserving precision of nanoscale creation.

3D Systems (NYSE:DDD) is already positioning itself for opportunities as the nanotechnology market expands. It is already expanding its footprint into the expanding market of 3D printed teeth and their alignment protection dent repair. It has already inked a $250 million contract to support the manufacturing process of clear aligners.

While 3D Systems (NYSE:DDD) delivered disappointing second-quarter results, with revenues dropping 12% year over year at $113 million, it continues to register significant growth in service revenues. Additionally, its net loss shrunk to $27.3 million from $29 million a year ago. The company expects its full-year revenue to range between $450 million and $460 million.

As of the second quarter, 15 hedge funds have taken a bullish stance on the stock, collectively holding shares valued at $18.18 million. ARK Investment Management is the largest shareholder in 3D Systems (NYSE:DDD), holding $9.45 million worth of stock as of June 30.

While we believe in DDD’s potential, we believe that certain AI stocks promise to deliver high returns within a shorter timeframe. If you are looking for an AI stock that is more promising than DDD but that trades at less than 5 times its earnings check out our report about the cheapest AI stock.

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