5 Solar Penny Stocks to Buy According to Reddit

2. Energous Corporation (NASDAQ: WATT)

Number of Hedge Fund Holders: 6  

Energous Corporation (NASDAQ: WATT) is placed second on our list of 10 solar penny stocks to buy according to Reddit. The company is headquartered in California and markets wire-free charging solutions. On July 14, the share price of the company soared more than 4.3% after it announced that WattUp, an active energy harvesting solution, would be available for sale and include a feature that would let the product charge multiple devices at one time. The company has a market cap of over $166 million. 

On July 30, investment advisory Roth Capital maintained a Buy rating on Energous Corporation (NASDAQ: WATT) stock but lowered the price target to $4 from $5, noting that the products in the pipeline could drive initial revenue growth for the company. 

At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $2.7 million in Energous Corporation (NASDAQ: WATT), up from 5 in the preceding quarter worth $1.4 million.