5 Penny Stocks With High Growth Potential

4. UpHealth, Inc. (NYSE:UPH)

Number of Hedge Fund Holders: 12

UpHealth, Inc. (NYSE:UPH) is a Delray Beach, Florida-based digital health services company that went public in 2021. The company is a provider of digital health technologies along with integrated and virtual care management systems.

During Q2 2022, UpHealth, Inc. (NYSE:UPH) saw its revenue grow by 37% YoY to $37.3 million. The significant increase in revenue was due to the merger with Cloudbreak Health. Analysts anticipate UpHealth, Inc. (NYSE:UPH) to witness YoY revenue growth of 44% during 2022 and finish the year with a top line of $178.26 million. Going forward, the analysts forecast further growth of 21.2% to reach a top line of $216.04 million by the end of next year. UpHealth, Inc. (NYSE:UPH) is targeting growing markets through its services and is on its way to achieving an adjusted EBITDA of $2.6 million during the first six months of 2023.

Overall, 12 hedge funds held a stake in UpHealth, Inc. (NYSE:UPH) as of Q2 2022.