15 Best High Volume Penny Stocks to Buy Now

In this article, we discuss the 15 best high volume penny stocks to buy now.

Penny stocks had become an important indicator of the overall health of the stock market in the past few years as zealous retail investor interest and a record surge in the prices of risky assets like cryptocurrencies, mostly in Over-the-Counter (OTC) markets, led to over $500 billion worth of related trades in the first eight months of 2021. Some of the top sectors that benefited from this activity included financial technology, biotechnology, cannabis, and cryptocurrencies, among others discussed in detail below. 

This year, as inflation has climbed and interest rates rise, retail investors have had to limit their trades in these penny stocks as more value-oriented options like Starbucks Corporation (NASDAQ:SBUX), McDonald’s Corporation (NYSE:MCD), and Yum! Brands, Inc. (NYSE:YUM) shine in a recessionary macro environment. However, as the economy rebounds from peak inflation, trade in these penny stocks is likely to explode as retail investors return to the market to make the most of the recovery momentum. 

Our Methodology

The companies that are priced at under $5 per share as of November 3 and have high volumes were selected for the list. The analyst ratings of these firms and the latest updates related to them are also discussed to provide some additional context.

Photo by Kaleidico on Unsplash

Best High Volume Penny Stocks to Buy Now

15. Cosmos Holdings Inc. (NASDAQ:COSM)

Number of Hedge Fund Holders: N/A  

Share Price as of November 3: $0.08

Volume as of November 3: 10,804,484

Cosmos Holdings Inc. (NASDAQ:COSM) operates as a vertically integrated pharmaceutical company. It is one of the best penny stocks to invest in. On September 28, Cosmos Holdings stated that it may acquire ZipDoctor, a subscription-based telemedicine platform, from American International Holdings. American International Holdings will continue to manage all aspects of the day-to-day operations of ZipDoctor.

Unlike big companies like Starbucks Corporation (NASDAQ:SBUX), McDonald’s Corporation (NYSE:MCD), and Yum! Brands, Inc. (NYSE:YUM), Cosmos Holdings Inc. (NASDAQ:COSM) is one of the riskier investments out there especially in the current market environment. But the rewards could be big in the future. 

14. VivoPower International PLC (NASDAQ:VVPR)

Number of Hedge Fund Holders: 1   

Share Price as of November 3: $0.47

Volume as of November 3: 125,135

VivoPower International PLC (NASDAQ:VVPR) operates as a sustainable energy solutions company in Australia, Canada, the Netherlands, the United Kingdom, the United States, and the United Arab Emirates. On May 20, VivoPower International’s subsidiary, Tembo e-LV, announced that it has executed a Design Services Agreement with Toyota Motor Corporation Australia Limited. Tembo e-LV will be commercially engaged in the next stage of the design of an electrification solution for the design of LandCruiser 70 for off-road applications in Australia.

At the end of the second quarter of 2022, 1 hedge fund in the database of Insider Monkey held stakes worth $109,000 in VivoPower International PLC (NASDAQ:VVPR), compared to 3 in the preceding quarter worth $146,000. 

13. NextPlay Technologies, Inc. (NASDAQ:NXTP)

Number of Hedge Fund Holders: 1   

Share Price as of November 3: $0.22

Volume as of November 3: 347,924

NextPlay Technologies, Inc. (NASDAQ:NXTP) is a technology solutions company that provides games, in-game advertising, digital asset products and services, connected TV, and travel booking services to consumers and corporations in the United States, Puerto Rico, Europe, and Thailand. It is one of the top penny stocks to invest in. On October 20, NextPlay Technologies marked the announcement of a binding commitment for a $15 million investment into its NextFintech division from an institutional investor. The binding commitment includes the purchase of NextFintech shares at a pre-money valuation of $150 million.

At the end of the second quarter of 2022, 1 hedge fund in the database of Insider Monkey held stakes worth $60,000 in NextPlay Technologies, Inc. (NASDAQ:NXTP), compared to 0 in the preceding quarter worth $0.

12. American Rebel Holdings, Inc. (NASDAQ:AREB)

Number of Hedge Fund Holders: 2  

Share Price as of November 3: $0.27

Volume as of November 3: 1,679,648

American Rebel Holdings, Inc. (NASDAQ:AREB) designs and markets branded safes, and personal security and self-defense products. On July 7, American Rebel Holdings revealed that it has agreed to acquire Champion Safe Company, a gun safes manufacturer and its ancillary companies, for approximately $9.9 million. The transaction will add $20 million in revenue to American Rebel Holdings.

On September 26, investment advisory EF Hutton initiated coverage of American Rebel Holdings, Inc. (NASDAQ:AREB) stock with a Buy rating and $1.50 price target. Analyst Michael Albanese issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Armistice Capital is a leading shareholder in American Rebel Holdings, Inc. (NASDAQ:AREB) with 481,927 shares worth more than $74,000. 

11. Mullen Automotive, Inc. (NASDAQ:MULN)

Number of Hedge Fund Holders: 2    

Share Price as of November 3: $0.35

Volume as of November 3: 253,869,870

Mullen Automotive, Inc. (NASDAQ:MULN) is an electric vehicle company that manufactures and distributes electric vehicles. It is one of the elite penny stocks to invest in. On October 19, Mullen Automotive disclosed that it has completed the purchase of Electric Last Miles Solutions, including its manufacturing plant, intellectual property and inventory. The plant will run retail and commercial EV production lines for Mullen. It can produce 50,000 vehicles annually.

At the end of the second quarter of 2022, 2 hedge funds in the database of Insider Monkey held stakes worth $121,000 in Mullen Automotive, Inc. (NASDAQ:MULN), compared to 4 the preceding quarter worth $3.8 million.

10. Rubicon Technologies, Inc. (NYSE:RBT)

Number of Hedge Fund Holders: 2    

Share Price as of November 3: $1.97

Volume as of November 3: 612,586

Rubicon Technologies, Inc. (NYSE:RBT) provides monocrystalline sapphire for applications in optical and industrial systems in North America and Asia. On September 28, Rubicon Technologies revealed that it has achieved Amazon Web Service Smart City competency. Rubicon Technologies is now an Amazon Web Service partner which helps customers to build and deploy innovative smart city solutions.

On September 30, Cantor Fitzgerald analyst Brett Knoblauch initiated coverage of Rubicon Technologies, Inc. (NYSE:RBT) stock with an Overweight rating and $5 price target, noting that the risk/reward profile of the shares was favorable. 

At the end of the second quarter of 2022, 2 hedge funds in the database of Insider Monkey held stakes worth $3.2 million in Rubicon Technologies, Inc. (NYSE:RBT), compared to 2 in the preceding quarter worth $3.3 million.

9. Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ:IINN)

Number of Hedge Fund Holders: 2   

Share Price as of November 3: $1.42

Volume as of November 3: 59,841

Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ:IINN) is a specialty medical device company that engages in the research, development, manufacture, and marketing of respiratory support technology to provide an alternative to invasive mechanical ventilation (MV) for the treatment of respiratory failure. It is one of the major penny stocks to invest in. On September 7, Inspira Technologies revealed the completion of an animal study which was conducted at Lahav. The completion of the animal study is an additional important step toward initiating human studies using the HYLA blood sensor.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Renaissance Technologies is a leading shareholder in Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ:IINN) with 31,200 shares worth more than $41,000.  

8. Daré Bioscience, Inc. (NASDAQ:DARE)

Number of Hedge Fund Holders: 2

Share Price as of November 3: $1.01

Volume as of November 3: 186,632

Daré Bioscience, Inc. (NASDAQ:DARE) is a clinical-stage biopharmaceutical company that engages in identifying, developing, and marketing products for women’s health in the United States. On October 17, Daré Bioscience announced a positive topline efficacy result from its Phase 1/ 2 clinical trial of DARE-HRT1. DARE-HRT1 is a novel, investigational intravaginal ring designed to deliver bio-identical 17- estradiol.

Among the hedge funds being tracked by Insider Monkey, Washington-based firm Millennium Management is a leading shareholder in Daré Bioscience, Inc. (NASDAQ:DARE) with 445,086 shares worth more than $547,000. 

7. XWELL, Inc. (NASDAQ:XWEL)

Number of Hedge Fund Holders: 4   

Share Price as of November 3: $0.65

Volume as of November 3: 137,486

XWELL, Inc. (NASDAQ:XWEL) is a health and wellness services company that provides spa services at airports. It is one of the premier penny stocks to invest in. On September 21, XWELL launched a Women’s Health Initiative as part of its overarching social responsibility platform strategy designed to advance education and support of wellness for women. The launched products are available in person and through mobile apps.

At the end of the second quarter of 2022, 4 hedge funds in the database of Insider Monkey held stakes worth $358,000 in XWELL, Inc. (NASDAQ:XWEL), compared to 7 in the preceding quarter worth $2.3 million. 

6. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Number of Hedge Fund Holders: 5  

Share Price as of November 3: $0.12

Volume as of November 3: 859,023

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) is a biopharmaceutical company that focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Knoll Capital Management is a leading shareholder in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) with 5 million shares worth more than $1.3 million. 

While Starbucks Corporation (NASDAQ:SBUX), McDonald’s Corporation (NYSE:MCD), and Yum! Brands, Inc. (NYSE:YUM) are popular among hedge funds, penny stocks like Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have just a few hedge funds invested in them.

5. Arbutus Biopharma Corporation (NASDAQ:ABUS)

Number of Hedge Fund Holders: 8 

Share Price as of November 3: $2.34

Volume as of November 3: 1,261,481

Arbutus Biopharma Corporation (NASDAQ:ABUS) is a biopharmaceutical company that develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. It is one of the best penny stocks to invest in. At the end of the second quarter of 2022, 8 hedge funds in the database of Insider Monkey held stakes worth $34.2 million in Arbutus Biopharma Corporation (NASDAQ:ABUS), compared to 10 in the previous quarter worth $29 million.

4. HOOKIPA Pharma Inc. (NASDAQ:HOOK)

Number of Hedge Fund Holders: 9 

Share Price as of November 3: $1.27

Volume as of November 3: 386,377

HOOKIPA Pharma Inc. (NASDAQ:HOOK) is a clinical-stage biopharmaceutical company that develops immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform. It is one of the top penny stocks to invest in. On October 20, HOOKIPA Pharma stated that it has partnered up with Roche, a leading provider of cancer treatments globally, to develop HB-700 for Kras mutated cancers and a second undisclosed novel arenaviral immunotherapy. HOOKIPA will receive $25 million upfront in the partnership.

On August 23, Truist analyst Asthika Goonewardene maintained a Buy rating on HOOKIPA Pharma Inc. (NASDAQ:HOOK) stock and lowered the price target to $11 from $16. 

At the end of the second quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $29.4 million in HOOKIPA Pharma Inc. (NASDAQ:HOOK), compared to 9 the preceding quarter worth $40.7 million.

3. Skillz Inc. (NYSE:SKLZ)

Number of Hedge Fund Holders: 12 

Share Price as of November 3: $0.96

Volume as of November 3: 13,659,600

Skillz Inc. (NYSE:SKLZ) operates a mobile games platform that connects players in fair, fun, and meaningful competition. It is one of the premier penny stocks to invest in. On August 25, Skillz declared that it has implemented a plan to further reduce its employees and also noted that Jerry Bruckheimer has exited its board. On October 20, the manufacturer of Arcade games, Play Mechanix, won the NFL’s inaugural game developer challenge which was hosted by Skillz.

On October 12, Citi analyst Jason Bazinet maintained a Neutral rating on Skillz Inc. (NYSE:SKLZ) stock and lowered the price target on Skillz to 95c from $1.50, highlighting that the company generated free cash flow despite the macroeconomic slowdown of the businesses.

At the end of the second quarter of 2022, 12 hedge funds in the database of Insider Monkey held stakes worth $53.7 million in Skillz Inc. (NYSE:SKLZ), compared to 18 in the preceding quarter worth $154.3 million.

In its Q2 2022 investor letter, Bireme Capital, an asset management firm, highlighted a few stocks and Skillz Inc. (NYSE:SKLZ) was one of them. Here is what the fund said:

“We described our short position in Skillz Inc. (NYSE:SKLZ) in Q3 2021. The business never improved, and the company looks set to lose $300m this year on just $400m of revenue according to Street estimates. The stock has fallen from $20 in the summer of last year to just $1.50 today, and we covered our short position at a profit.”

2. Ardelyx, Inc. (NASDAQ:ARDX)

Number of Hedge Fund Holders: 16    

Share Price as of November 3: $1.47

Volume as of November 3: 2,958,219

Ardelyx, Inc. (NASDAQ:ARDX) is a biopharmaceutical company that discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. It is one of the elite penny stocks to invest in. On August 18, Citi analyst Yigal Nochomovitz maintained a Buy rating on Ardelyx, Inc. (NASDAQ:ARDX) stock and lowered the price target to $10 from $12. 

Among the hedge funds being tracked by Insider Monkey, Stamford-based investment firm Point72 Asset Management is a leading shareholder in Ardelyx, Inc. (NASDAQ:ARDX) with 5 million shares worth more than $2.95 million. 

1. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 39 

Share Price as of November 3: $2.29

Volume as of November 3: 25,028,262

Opendoor Technologies Inc. (NASDAQ:OPEN) operates a digital platform for residential real estate in the United States. It is one of the major penny stocks to invest in. On August 4, Opendoor Technologies declared a partnership with Zillow Group, a Seattle-based real estate giant, which will allow home sellers on Zillow’s platform to request an instant cash offer from Opendoor. The transaction of purchase is facilitated by Opendoor. 

On October 6, Keefe Bruyette analyst Ryan Tomasello maintained a Market Perform rating on Opendoor Technologies Inc. (NASDAQ:OPEN) stock and lowered the price target to $3.25 from $7.25, noting that the company sees low housing visibility into year-end and views consensus estimates as optimistic. 

At the end of the second quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $861.7 million in Opendoor Technologies Inc. (NASDAQ:OPEN), compared to 36 in the preceding quarter worth $1 billion.

In its Q4 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Opendoor Technologies Inc. (NASDAQ:OPEN) was one of them. Here is what the fund said:

“The Fund invests in secular growth and innovative businesses across all market capitalizations, with the bulk of the portfolio landing in the large-cap zone. The Fund is categorized as US Large Growth by Morningstar. As of the end of the fourth quarter, the largest market cap holding in the Fund was $2.5 trillion and the smallest was $791 million. The median market cap of the Fund was $27.5 billion.

The Fund had $1.7 billion of assets under management. The Fund had investments in 63 securities. The Fund’s top 10 positions accounted for 45.4% of net assets. Fund inflows were positive for 2021. We sold Opendoor Technologies Inc. (NASDAQ:OPEN) because we identified issues relating to our long-term theses in the company, and we decided to exit the positions to fund other purchases.”

You can also take a peek at 10 Best Bargain Stocks To Buy Right Now and 10 Best Infrastructure Stocks To Buy Now.

Follow Insider Monkey on Twitter

Suggested Articles:

• 11 Best Mineral Stocks To Buy Now
• 12 Best Momentum Stocks To Invest In
• 11 Safe Stocks To Buy According To Hedge Funds

Disclosure. None. 15 Best High Volume Penny Stocks to Buy Now is originally published on Insider Monkey.