This article presents an overview of 5 Cheap Penny Stocks to Buy According to Analysts. For a detailed overview of such stocks read our article, 14 Cheap Penny Stocks to Buy According to Analysts.
5. GEE Group Inc (NYSE:JOB)
Average Analyst Price Estimate: $2
Upside Potential: 471%
Workforce solutions company GEE Group Inc (NYSE:JOB) ranks fifth in our list of the cheap penny stocks to buy according to Wall Street analysts. Insider Monkey’s database shows that three hedge funds had stakes in GEE Group Inc (NYSE:JOB) as of the end of 2023.
4. MEI Pharma Inc (NASDA:MEIP)
Average Analyst Price Estimate: $23
Upside Potential: 603%
Of the 933 hedge funds in Insider Monkey’s database, 23 hedge funds reported owning stakes in MEI Pharma Inc (NASDA:MEIP). The biggest stake in MEI Pharma Inc (NASDA:MEIP) is owned by Amin Nathoo and Moez Kassam’s Anson Investments which owns a $6.3 million stake in MEI Pharma Inc (NASDA:MEIP).
GreenWood Investors stated the following regarding MEI Pharma, Inc. (NASDAQ:MEIP) in its fourth quarter 2023 investor letter:
“Good governance is a daily action for those with skin in the game. Working on behalf of the company’s customers, employees, shareholders and other stakeholders is a team effort and a constant effort. We love being a part of it. It’s reinforced by the small moments that speak volumes about the validity of our approach. I’d like to share a few moments from the past year that particularly stuck out to me, and are very telling. We’ll start with our three largest positions, where we sit on the boards, which also coincidentally drove the lion’s share of our returns for the year, with Leonardo contributing 17.7%, CTT contributing 5.5%, and MEI Pharma, Inc. (NASDAQ:MEIP) contributing 3.8%.
MEI Pharma is developing two compelling assets that could help large bio-pharma companies to refill their clinical pipelines. After years of under-investing in these pipelines, large pharmaceutical and biotech companies are getting very assertive in their M&A activity. The fact that shares trade for half of the cash on the balance sheet, gives us even more capital allocation opportunities than those companies with richer valuations. It also focuses the company’s capital spending to only the most value-added efforts. The bar is very high for any capital commitments when our stock is so attractively-priced.”
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.
2. Comstock Inc (NYSE:LODE)
Average Analyst Price Estimate: $4
Upside Potential: 1150%
Decarbonization solutions and mining company Comstock Inc (NYSE:LODE) is one of the top stocks to buy according to Wall Street analysts, who have a $4 average price target on the stock, while the current stock price is $0.32.
Insider Monkey’s database of hedge funds shows that three funds had stakes in Comstock Inc (NYSE:LODE) as of the end of 2023.
1. Revelation Biosciences Inc (NASDAQ:REVB)
Average Analyst Price Estimate: $32.12
Upside Potential: 1444%
A total of two hedge funds tracked by Insider Monkey had stakes in Revelation Biosciences Inc (NASDAQ:REVB) as of the end of 2023.
Revelation Biosciences Inc (NASDAQ:REVB) is working on trainer immunity-based drugs to treat different diseases. Its drug candidates are based on Gemini formulation of phosphorylated hexaacyl disaccharide (PHAD).
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 10 Underperforming Stocks Insiders are Buying and the Insiders are Piling into These 10 Healthcare Stocks in 2024.
