Hedge Funds Say These Penny Stocks are Poised to Explode

The next two companies will also be from the energy sector. In Key Energy Services, Inc. (NYSE:KEG), 20 funds reported stakes with an aggregate value of $81 million at the end of June. During the second quarter, the number of investors with long positions declined by eight, but the total value of their positions increased from $72.55 million at the end of March. Key Energy is an onshore, rig-based contractor that provides well servicing and its stock has lost over 90% over the last 52-weeks. However, its 52-week high amounts to $5.70, and its consensus price target from analysts amounts to around $3.00 per share. Among the funds from our database, Mark Rachesky’s MHR Fund Management owns the largest stake in Key Energy Services, Inc. (NYSE:KEG), which contained 17.48 million shares, worth $31.47 million and accounting for 1.30% of its equity portfolio. On the second and third spots are Ken Griffin’ Citadel Investment Group and Jim Simons’ Renaissance Technologies, which increased their holdings in Key Energy Services, Inc. (NYSE:KEG) by 116% and 16% on the quarter to 12.89 million shares and 2.80 million shares respectively.