Best Penny Stocks 2022

Written by-Sandy

7. Red Cat Holdings, Inc. (NASDAQ:RCAT)

Red Cat Holdings, Inc. (NASDAQ:RCAT) is in the middle of developing a software-as-a-service (SaaS) platform that aims to provide drone flight data analytics and storage.

6. Exela Technologies, Inc. (NASDAQ:XELA)

While Exela Technologies, Inc. (NASDAQ:XELA) is not as popular amongst the hedge funds as firms like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Meta Platforms, Inc. (NASDAQ:META), the stock was still held by 7 hedge funds as of Q1 2022.

5. Pixelworks Inc. (NASDAQ: PXLW)

While Pixelworks isn’t yet profitable, and shares have underperformed the market, improved earnings and revenue contribute to analysts’ average price target of $4.50 and consensus “buy” rating.

4. Ring Energy Inc. (NYSE: REI)

Following earnings and revenue surprises last month, REI has a “buy” rating and an average price target of $5.33. The P/E ratio is just 3.91. Yahoo Finance calls the stock undervalued and predicts a return of about 133%.

3. Bolt Biotherapeutics (NASDAQ: BOLT)

Analysts give BOLT a “buy” rating with an average price target of $6.40. Bolt Biotherapeutics was founded in 2015 by Dr. Edgar G. Engleman of Stanford University.

2. FlexShopper Inc. (NASDAQ: FPAY)

The stock has shown strong momentum lately, but analysts say it’s still a good buy — not surprising, considering that durable-goods leasing has been a growing trend amid rising inflation, according to recent reports by PYMTS.

1. Pitney Bowes (NYSE: PBI)

Currently trading at about $3, the stock’s average analyst target is $5.25, and analysts rate it a “buy.”