5 High Growth Penny Stocks that are Profitable

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In this piece, we will take a look at the five high growth penny stocks that are profitable. For more penny stocks, head on over to 12 High Growth Penny Stocks that are Profitable.

5. Ring Energy, Inc. (NYSE:REI)

Q/Q Sales Growth: 92%

Number of Hedge Fund Holders in Q4 2022: 11

Ring Energy, Inc. (NYSE:REI) is an oil and gas producer with close to 80 million barrels of proven reserves. The firm is headquartered in The Woodlands, Texas, and it has properties in several counties of Texas and New Mexico.

Ring Energy, Inc. (NYSE:REI) had a strong third quarter of 2022, as it managed to earn $94 million in revenue. When compared to its Q3 2021 results of $84 million, this marked a 92% growth. Additionally, profitable derivative contracts enable the firm to have a high net profit margin and report $75 million in net income. 11 of the 943 hedge funds polled by Insider Monkey in Q4 2022 had held a stake in the firm.

Ring Energy, Inc. (NYSE:REI)’s largest investor is Josh Overdeck and David Siegel’s Two Sigma Advisors which owns 1.9 million shares that are worth $4.8 million.

Follow Ring Energy Inc. (OTC:REI)



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