This article will bring you to the list of Penny stocks poised to explode according to hedge funds. Insider Monkey has recently published an interesting article about it. What are so called Penny stocks? Penny stocks are usually defined as shares of small companies that trade under $1 per share, although the SEC defines a penny stock as a security that trades under $5 per share.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of Penny stocks poised to explode according to hedge funds from their list. The first one is WMIH Corp. (NASDAQ:WMIH). WMIH Corp. (NASDAQ:WMIH) saw the number of bullish investors from our database increase by one to 26 between April and June. On the other hand, the aggregate value of their positions declined to $57.80 million from $68.82 million amid a 14% drop registered by the stock. In this way, the funds held 22.40% of WMIH Corp. (NASDAQ:WMIH)’s outstanding stock at the end of June. WMIH Corp. (NASDAQ:WMIH) is the successor of Washington Mutual and it emerged from bankruptcy in 2012. The company’s stock has gained 44% since it started trading, but it still has more room to grow as WMIH Corp. (NASDAQ:WMIH) continues its recovery. The next one is
Amarin Corporation plc (ADR) (NASDAQ:AMRN). Amarin Corporation plc (ADR) (NASDAQ:AMRN) saw 19 investors holding $280.18 million, or 26.40% of outstanding stock, at the end of the second quarter, compared to 17 funds with stakes worth $225.49 million at the end of March. Amarin Corporation plc (ADR) (NASDAQ:AMRN)’s lead product is Vascepa and it is currently looking to expand the FDA approval for the drug to be used in other indications.At last, but not least let’s check Intelsat SA (NYSE:I). In Intelsat SA (NYSE:I), there were 19 funds with long positions at the end of June, up from 17 funds a quarter earlier. These funds held $280.18 million worth of stock, or 30.40% of float, heading into the third quarter. Intelsat SA (NYSE:I)’s stock has surged by more than 46% since the beginning of the year, but it is still trading below its 52-week high. The company is currently preparing to launch the fifth of its next-gen satellite.
For any further useful information, read Insider Monkey’s article about 15 Penny stocks poised to explode according to hedge funds.