5 Cheap Penny Stocks to Buy According to Analysts

3. Great Elm Group Inc (NASDAQ:GEG)

Average Analyst Price Estimate: $20

Upside Potential: 931%

Alternative asset management services company Great Elm Group Inc (NASDAQ:GEG) is one of the best cheap penny stocks to buy according to analysts. The stock is up 1.6% year to date through April 15. Earlier this month Great Elm Group Inc (NASDAQ:GEG) priced its underwritten public offering of $30 million aggregate principal amount of its 8.50% notes due 2029. Great Elm Group Inc (NASDAQ:GEG) will get about $28.6 million in net proceeds from this transaction.