5 Best NYSE Penny Stocks To Buy

This article presents an overview of the 5 Best NYSE Penny Stocks To Buy. For a detailed overview of such stocks, read our article, 12 Best NYSE Penny Stocks To Buy.

5. Tetra Technologies Inc (NYSE:TTI)

Number of Hedge Fund Investors: 25

Tetra Technologies Inc (NYSE:TTI) offers solutions for the upstream energy industry for completions fluids, water management, and production testing.

A total of 25 hedge funds in Insider Monkey’s database had stakes in Tetra Technologies Inc (NYSE:TTI), which ranks fifth in our list of the best NYSE penny stocks to buy according to hedge fund investors.

4. Ardagh Metal Packaging SA (NYSE:AMBP)

Number of Hedge Fund Investors: 26

In January, UBS gave a Buy rating to Ardagh Metal Packaging (NYSE:AMBP) along with several other packaging stocks. Here’s what UBS said about its bullish thesis on the sector:

“We are generally bullish on the packaging space as we expect positive volume leverage to become apparent over 2024. Most investors have underestimated the sizeable aggregate impact of destocking, SKU rationalization, and magnitude/duration impact from elasticity sticker shock in 2023 that resulted in volume pressures worse than seen during the Global Financial Crisis,” UBS analyst Curt Woodworth said.

3. Nuvation Bio Inc (NYSE:NUVB)

Number of Hedge Fund Investors: 26

Clinical stage biopharma company Nuvation Bio Inc (NYSE:NUVB) ranks  third in our list of the best NYSE penny stocks to buy according to hedge funds.

A total of 26 hedge funds in Insider Monkey’s database were long Nuvation Bio Inc (NYSE:NUVB). The biggest stake ($26 million) in Nuvation Bio Inc (NYSE:NUVB) is owned by  Oleg Nodelman’s EcoR1 Capital.

2. Altice USA Inc (NYSE:ATUS)

Number of Hedge Fund Investors: 27

Altice USA earlier this month posted Q4 results. GAAP EPS in the quarter came in at $0.26, missing estimates by $0.33. Revenue fell 3% year over year to $2.3 billion, beating estimates by $10 million.

1. Clear Channel Outdoor Holdings Inc (NYSE:CCO)

Number of Hedge Fund Investors: 27

Clear Channel Outdoor shares jumped in December after Wells Fargo Securities upgraded the stock to Overweight from Equal-weight. Wells Fargo said the company is returning to growth and set a $2.75 price target on the stock.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 12 Cheap Penny Stocks to Buy According to Hedge Funds, and the 10 Cheap Penny Stocks To Buy Now.