Top 10 Penny Stocks To Buy in 2017

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1. Gastar Exploration Inc (NYSEMKT:GST)

Gastar Exploration Inc (NYSEMKT:GST) tops the list of the top 10 penny stocks to buy in 2017, as the number of funds in our database with long positions in the company advanced by three to 17 during the first quarter. Subsequently, the total value of their holdings advanced to $40.90 million from $30.87 million and represented over 14% of the company’s outstanding stock at the end of March. Among the funds in our database, the largest shareholder of Gastar Exploration Inc (NYSEMKT:GST) is James Dinan‘s York Capital Management, which increased its stake by 52% to 5.45 million shares during the first quarter.

Gastar Exploration Inc (NYSEMKT:GST)’s stock has declined by 41% since the beginning of the year and over the last 52 weeks it has fluctuated between $0.80 and $2.19 per share. As with all oil companies, Gastar has seen its stock decline mainly on the back of the drop in oil prices. In addition, focusing on shale production means that Gastar incurs higher production costs than other E&P companies. However, if oil prices rebound and the Fed maintains its slow approach to raising interest rates, Gastar has the potential to recover, which is why large investors keep betting on it.

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