5 Hot Penny Stocks To Buy

4. Movella Holdings Inc. (NASDAQ:MVLA)

Number of Hedge Fund Holders: 17

Digital services company Movella Holdings Inc. (NASDAQ:MVLA) shares have been on a tear recently, having gained over 50% in value over the past 30 days. In May Movella Holdings Inc. (NASDAQ:MVLA) posted its first quarter results. GAAP EPS in the period came in at $0.36, beating estimates by $0.44. Revenue in the period came in at $9.2 million, beating estimates by $0.5 million.

Movella Holdings Inc. (NASDAQ:MVLA)’s CFO Steve Smith recently bought over 61,000 shares of the company at $1.65 per share.

Insider Monkey’s database of 943 hedge funds shows that 17 hedge funds held stakes in Movella Holdings Inc. (NASDAQ:MVLA) as of the end of the first quarter.