5 Best Hemp Stocks To Buy Now

In this article, we will be looking at the 5 best hemp stocks to buy now. If you want to see our detailed analysis of these stocks, go directly to the 11 Best Hemp Stocks To Buy Now.

5. Turning Point Brands, Inc. (NYSE:TPB)

Number of Hedge Fund Holders: 30

Turning Point Brands, Inc. (NYSE: TPB) is a leading manufacturer, marketer and distributor of branded consumer products including alternative smoking accessories and hemp-based products. Founded in 2004, the company is ranked fifth on the list of the 11 best hemp stocks to buy now.

On October 27, Craig-Hallum analyst Eric Des Lauriers maintained a Buy rating on Turning Point Brands, Inc. (NYSE:TPB) alongside a $65 price target on its shares.

Of the 873 elite funds tracked by Insider Monkey, 30 were long Turning Point Brands, Inc. (NYSE:TPB) at the end of June, up from 25 in the first quarter of 2021. DG Capital Management is the leading stakeholder of the company.

In the Q2 2021 investor letter of Kinsman Oak Capital Partners, the fund mentioned Turning Point Brands, Inc. (NYSE:TPB). Here is what the fund said:

“TPB continues to be a volatile stock, but business execution has been admirable since we first initiated our position. The company has put forth consecutive beat and raise quarters, announced a few tuck-in acquisitions, and recently promoted a new CFO. We view these developments as positives for the stock. We believe TPB remains undervalued at ~14x FY22 EPS and ~10x FY22 EBITDA.”