5 Penny Stocks Robinhood Traders are Buying in 2021

4. Allied Esports Entertainment Inc. (NASDAQ: AESE)

Number of Hedge Fund Holders: 2  

Allied Esports Entertainment Inc. (NASDAQ: AESE) is a California-based gaming company founded in 2017. It is ranked fourth on our list of 10 penny stocks Robinhood traders are buying in 2021. The stock has offered investors returns exceeding 40% year-to-date. The company aims to provide new kinds of live experiences, multiplatform content and interactive services to gaming audiences. The company also operates platforms that connect professional poker players with fans. 

On May 24, Allied Esports Entertainment Inc. (NASDAQ: AESE) reported earnings results for the first quarter of 2021, posting a revenue of $0.5 million, down more than 50% compared to the revenue over the same period last year. 

Back  in March, Allied Esports Entertainment Inc. (NASDAQ: AESE) had revealed earnings per share of -$1.57 for the previous fiscal year, missing market expectations by $0.45. The revenue for the year was more than $3.2 million, missing market predictions by close to $20 million. 

At the end of the first quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $414,000 in Allied Esports Entertainment Inc. (NASDAQ: AESE), the same as in the preceding quarter worth $325,000.