5 Most Volatile Stocks Under $5 For Day Trading

3. Pitney Bowes Inc. (NYSE:PBI)

Number of Hedge Fund Shareholders: 22

5-Year Monthly Beta: 2.33

As it did with several other stocks, hedge fund ownership of Pitney Bowes Inc. (NYSE:PBI) sank during the first half of 2020 as money managers scrambled to recalibrate their portfolios in the face of the pandemic. Hedge funds have bought back into the stock since then and held onto their positions even as PBI shares pushed towards all-time lows.

Pitney Bowes Inc. (NYSE:PBI) shares are some of the most actively traded on this list, changing hands about 1.78 million times per day. The parcel delivery and logistics company’s sales and earnings fell year-over-year during Q3, sliding to $831 million and $0.00 per share on an adjusted basis, down from $875 million and $0.05 per share respectively.

Pitney Bowes Inc. (NYSE:PBI) has been targeted by activist investor Hestia Capital recently, which could ignite more volatility in the stock. The fund, which owns a 6.9% stake in PBI, has reportedly engaged with Pitney Bowes’ management on issues ranging from its capital allocation and e-commerce strategies, to the composition of its board. The fund believes PBI shares are undervalued and represented an attractive investment opportunity.