In this article, we will take a look at the 5 high growth penny stocks that are profitable. To read our analysis of the recent market trends and activity, you can go to the 13 High Growth Penny Stocks That Are Profitable.
5. Lument Finance Trust, Inc. (NYSE:LFT)
Latest YoY Quarterly Revenue Growth: 74.07%
Number of Hedge Fund Holders: 13
Lument Finance Trust, Inc. (NYSE:LFT) is a real estate investment trust (REIT) focused on commercial real estate debt investments. It primarily invests in transitional floating rate commercial mortgage loans with an emphasis on middle-market multi-family assets.
On November 13, Lument Finance Trust, Inc. (NYSE:LFT) released its financial results for Q3 2023. Its net interest income increased by 74% y-o-y to $9.5 million, while net income surged by 324% y-o-y to $6.4 million.
On December 12, Lument Finance Trust, Inc. (NYSE:LFT) announced the declaration of a cash dividend of $0.07 per share which brings the total dividends declared in 2023 to $0.26 per share. The dividend reflects a dividend yield of 11.61% based on the share price on February 7, the highest on our list of 13 high growth penny stocks that are profitable.
4. DocGo Inc. (NASDAQ:DCGO)
Latest YoY Quarterly Revenue Growth: 78.91%
Number of Hedge Fund Holders: 8
New York-based DocGo Inc. (NASDAQ:DCGO) is a leading provider of technology enabled mobile health services and integrated medical mobility solutions.
On November 6, DocGo Inc. (NASDAQ:DCGO) released its financial results for Q3 2023. Its revenue increased by 79% y-o-y to $187 million while its normalized EPS of $0.06 exceeded consensus estimates by $0.01.
On January 31, DocGo Inc. (NASDAQ:DCGO) announced that its board of directors has approved a new share repurchase program which allows the company to repurchase $36 million worth of its common shares over a 6-month period ending July 30, 2024.
3. Eton Pharmaceuticals, Inc. (NASDAQ:ETON)
Latest YoY Quarterly Revenue Growth: 118.33%
Number of Hedge Fund Holders: 4
Deer Park, Illinois-based Eton Pharmaceuticals, Inc. (NASDAQ:ETON) is a commercial pharmaceutical company focused on developing, acquiring, and commercializing high-potential therapies for the treatment of patients with rare diseases.
On November 9, Eton Pharmaceuticals, Inc. (NASDAQ:ETON) released its financial results for Q3 2023. Its revenues increased by 118% y-o-y to $7.0 million, while it generated a net loss of $0.6 million. The normalized EPS was recorded at -$0.02 for the quarter, which exceeded consensus estimates by $0.08.
Following the earnings release, HC Wainwright & Co. analyst Raghuram Selvaraju reiterated a ‘Buy’ rating for Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares with an unchanged price target of $10 per share which represents a potential upside of 117.86% based on the share price on February 7.
2. Tuniu Corporation (NASDAQ:TOUR)
Latest YoY Quarterly Revenue Growth: 128.87%
Number of Hedge Fund Holders: 3
Based in Nanjing, China, Tuniu Corporation (NASDAQ:TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform.
On November 21, Tuniu Corporation (NASDAQ:TOUR) released its financial results for Q3 2023. Its revenue increased by 129% y-o-y to $24.4 million while it generated a net income of $5.4 million, compared to a net loss of $3.2 million.
As of Q4 2023, 2 leading hedge funds tracked by Insider Monkey owned shares of Tuniu Corporation (NASDAQ:TOUR). Its largest shareholder was Jim Simons’ Renaissance Technologies with ownership of 0.18 million shares valued at $0.1 million.
Like other stocks such as Global Blue Group Holding AG (NYSE:GB), Payoneer Global Inc. (NASDAQ:PAYO), and Baytex Energy Corp. (NYSE:BTE), Tuniu Corporation (NASDAQ:TOUR) is among the 13 high growth penny stocks that are profitable.
1. Five Point Holdings, LLC (NYSE:FPH)
Latest YoY Quarterly Revenue Growth: 598.82%
Number of Hedge Fund Holders: 14
Sugar Land, Texas-based Five Point Holdings, LLC (NYSE:FPH) is one of the largest owners and developers of mixed-use communities in coastal California. Its three California mixed-use communities are Valencia (formerly Newhall Ranch) in Los Angeles County, and Candlestick / The SF Shipyard in San Francisco, and Great Park Neighborhoods in Orange County.
On January 18, Five Point Holdings, LLC (NYSE:FPH) released its financial results for Q4 2023. Its total revenues surged by 599% y-o-y to $119 million while it generated a net income of $59 million.
As of Q3 2023, 14 of the 933 hedge funds tracked by Insider Monkey owned Five Point Holdings, LLC (NYSE:FPH) shares worth $63.2 million. Christian Leone’s Luxor Capital Group was the largest hedge fund shareholder with ownership of 10.6 million shares valued at $32 million.
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