10 Most Undervalued Penny Stocks to Buy According to Hedge Funds

8. Array Technologies Inc. (NASDAQ:ARRY)

Share Price as of April 18: $4.33

Forward P/E ratio as of April 18: 7.47

Number of Hedge Fund Holders: 31

Array Technologies Inc. (NASDAQ:ARRY) manufactures and sells solar tracking technology products. It operates through two segments: Array Legacy Operations and STI Operations. Its product portfolio includes DuraTrack HZ v3, Array STI H250, Array OmniTrack, Array SkyLink, and SmarTrack.

In Q4 2024, North America accounted for ~73% of the company’s total revenue, while it contributed roughly 70% to the full year revenue. Notably, the domestic portion of Array’s order book experienced more than 20% growth throughout 2024. For the full year 2025, the company forecasts a double-digit year-over-year increase in both volume and revenue.

Array Technologies Inc. (NASDAQ:ARRY) entered 2025 with a robust order book of $2 billion, with over 50% of the current order book scheduled to be delivered in 2025. The company is on track to provide 100% domestic content trackers in H1 2025. The anticipated stabilization of the US market in 2025 further supports a positive outlook for Array’s largest revenue-generating segment.