10 Best Penny Stocks to Buy According to Hedge Funds

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​1. Under Armour, Inc. (NYSE:UA)

​Stock Price: $4.74

Number of Hedge Fund Holders: 37

Under Armour, Inc. (NYSE:UA) is one of the best penny stocks to buy according to hedge funds. UBS reiterated a Buy rating on Under Armour, Inc. (NYSE:UA) on September 29, assigning a price target of $7.50.

However, Under Armour, Inc. (NYSE:UA) was downgraded to a Hold on September 15 by Redburn Atlantic analyst Geoff Lowery, who assigned a $6.00 price target to the stock.

Under Armour, Inc. (NYSE:UA) develops, markets, and distributes branded athletic performance apparel, accessories, and footwear for men, women, and youth. It operates in four geographic segments: North America, EMEA, Asia-Pacific, and Latin America.

While we acknowledge the potential of UA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than UA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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