These 5 Penny Stocks are Trending on Reddit

2. Senseonics Holdings, Inc. (NYSE:SENS)

Number of Hedge Fund Holders: 12

Closing Price on March 23: $1.91

Senseonics Holdings, Inc. (NYSE:SENS) is a medical technology company that develops and commercializes continuous glucose monitoring systems for people with diabetes in the United States, Europe, the Middle East, and Africa. On February 14, 2022, Senseonics Holdings, Inc. (NYSE:SENS) announced that the FDA has granted the company approval for the next-generation Eversense E3 Continuous Glucose Monitoring, or CGM, System. Moreover, this March Senseonics Holdings, Inc. (NYSE:SENS) reported earnings for the fiscal fourth quarter of 2021, in which the company beat on revenue by over $43,000. The company’s revenue grew by 2.56% year over year from $3.90 million to $4.00 million.

Insider Monkey spotted Senseonics Holdings, Inc. (NYSE:SENS) on 12 hedge fund portfolios by the end of the fourth quarter of 2021. The total stakes of these funds in the company exceeded $38.14 million. Of these, Masters Capital Management was the most prominent shareholder in the company, having stakes of $18.69 million. The investment covers 0.72% of Masters Capital Management’s Q4 2021 portfolio.

Senseonics Holdings, Inc. (NYSE:SENS) is trending on Reddit as of this March. Reddit investors are bullish on Senseonics Holdings, Inc. (NYSE:SENS) because of the company’s progress with the FDA, and anticipate the stock will rise as the company develops its CGM systems.