5 Best Undervalued Stocks To Buy Now

In this piece, we’ll take a look at the 5 Best Undervalued Stocks To Buy Now. For more such companies, go to 13 Best Undervalued Stocks To Buy Now.

5. Stellantis N.V. (NYSE:STLA)

Forward P/E ratio as of December 19: 3.15

Number of Hedge Fund Holders: 25

Founded in 2021, Stellantis N.V. (NYSE:STLA) is the fourth largest automaker, with annual sales of around 80 million vehicles and 400,000 employees. In 2021, the company had a sales volume of 6.1 million vehicles. Europe is Stellantis N.V. (NYSE:STLA)’s largest market accounting for 47% of its total global volume in 2021, while North America and South America account for 30% and 14% of it, respectively.

On October 20, 2022, Anindya Das, an analyst at Nomura, raised his price target on Stellantis N.V. (NYSE:STLA) to €19.80 and upgraded the rating on the stock to Buy. The analyst anticipates pressure on wholesale volume in Europe in 2023 but believes Stellantis N.V. (NYSE:STLA) should be able to withstand the challenging circumstances in Europe, given its reduced breakeven point following the merger.

25 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Arrowstreet Capital had the biggest long position in the company at the end of Q3 2022.