In this article, we discuss the 5 popular penny stocks on Robinhood. If you want to read our detailed analysis of these stocks, go directly to the 10 Popular Penny Stocks on Robinhood.
5. Inuvo, Inc. (NYSE: INUV)
Number of Hedge Fund Holders: N/A
Inuvo, Inc. (NYSE: INUV) is an information technology company that offers a host of internet-related services. It is ranked fifth on our list of 10 popular penny stocks on Robinhood. The stock has offered investors returns exceeding 65% over the course of the past year. Some of the key products of the firm include ValidClick and IntentKey, the former is an online marketing service and the latter is a consumer intent recognition system that uses artificial intelligence. The firm was founded in 1987 and is based in Arkansas.
On May 13, Inuvo, Inc. (NYSE: INUV) posted earnings for the first quarter of 2021, reporting earnings per share of -$0.02, missing market estimates by $0.01. The revenue for the first three months of 2021 was $10 million, down 28% year-on-year.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Inuvo, Inc. (NYSE: INUV) with 126,140 shares worth more than $129,000.
4. Almaden Minerals Ltd. (NYSE: AAU)
Number of Hedge Fund Holders: 3
Almaden Minerals Ltd. (NYSE: AAU) is a Canadian firm that explores, develops and markets minerals. It is placed fourth on our list of 10 popular penny stocks on Robinhood. The company’s shares have plunged 12% over the course of the past twelve months. The firm was founded in 1980 and has interests in gold, silver, and copper, among other metals. The company is a stakeholder in mineral projects in Mexico as well, in addition to Canada. The premier Mexican project of the firm is in the Puebla State.
Late last year, the share price of Almaden Minerals Ltd. (NYSE: AAU) plunged close to 32% after the company was denied an environmental permit for the Ixtaca precious metals project. There were objections to the open pit mining operations, the firm later claimed.
At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $151,000 in Almaden Minerals Ltd. (NYSE: AAU), down from 4 in the preceding quarter worth $1.3 million.
3. Invesco Mortgage Capital Inc. (NYSE: IVR)
Number of Hedge Fund Holders: 14
Invesco Mortgage Capital Inc. (NYSE: IVR) is a Georgia-based real estate investment trust that concentrates on investments related to mortgage securities. It is ranked third on our list of 10 popular penny stocks on Robinhood. The stock has returned 4% to investors in the past year. The company recently joined the Russell Microcap Index, improving the visibility of the firm to investors and boosting overall value. The stock is also one of the favorites of retail investors on Reddit, and there are reports that the firm is the subject of a short squeeze.
Invesco Mortgage Capital Inc. (NYSE: IVR) is a solid investment option for those who want to earn a healthy income from stocks. On June 23, the firm declared a quarterly dividend of $0.09 per share, in line with previous. The forward yield was 8.93%.
Out of the hedge funds being tracked by Insider Monkey, California-based firm Beach Point Capital Management is a leading shareholder in Invesco Mortgage Capital Inc. (NYSE: IVR) with 5.1 million shares worth more than $20 million.
2. Ideanomics, Inc. (NASDAQ: IDEX)
Number of Hedge Fund Holders: 7
Ideanomics, Inc. (NASDAQ: IDEX) is a firm that offers various services that make it easier for people to adopt electric vehicles. It is placed second on our list of 10 popular penny stocks on Robinhood. The company’s shares have returned 89% to investors over the course of the past twelve months. The firm facilitates adoption of EVs by commercial fleets, offers fintech products related to EVs. In addition, the fintech arm of the firm operates independently as well, offering other financial services. The firm is based in New York.
On June 14, Ideanomics, Inc. (NASDAQ: IDEX) announced that it had bought electric tractor maker Solectrac. The latter is one of the few companies working on electric tractors and the deal is part of the ESG practices of Ideanomics.
At the end of the first quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $20 million in Ideanomics, Inc. (NASDAQ: IDEX), up from 5 in the preceding quarter worth $3.4 million.
1. Zomedica Corp. (NYSE: ZOM)
Number of Hedge Fund Holders: 5
Zomedica Corp. (NYSE: ZOM) is a veterinary health firm. It is ranked first on our list of 10 popular penny stocks on Robinhood. The stock has returned 322% to investors in the past year. One of the leading products of the firm is TRUFORMA, a platform that is famous for the detection of thyroid disorders in dogs and cats. The firm was founded in 2015. It is headquartered in Michigan and is working on products for the detection of cancer in companion animals as well as novel pathogen detection systems.
On April 15, Zomedica Corp. (NYSE: ZOM) announced that it would be expanding a direct sales team as it tries to phase out sales through distributor networks. Robert Cohen, the chief of the company, said that the distributor network had impacted the ability to market products.
At the end of the first quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $6.9 million in Zomedica Corp. (NYSE: ZOM), up from 3 in the preceding quarter worth $505,000.
You can also take a peek at 10 Penny Stocks Robinhood Traders are Buying in 2021 and Forget AMC and Gamestop: 10 New Stocks Reddit’s WallStreetBets Is Buying.
