5 Cheapest Penny Stocks According to Analysts

In this article, we will discuss the 5 cheapest penny stocks to buy now according to analysts. If you want to explore similar stocks, you can go to 12 Cheapest Penny Stocks According to Analysts.

5. Lloyds Banking Group PLC (NYSE:LYG)

PE Ratio (TTM) as of March 9: 7.06

Average Upside Potential as of March 9: 24.81%

Number of Hedge Fund Holders: 9

Lloyds Banking Group PLC (NYSE:LYG) provides a variety of banking and financial services in the United Kingdom. The company has three business divisions: Retail, Commercial Banking, and Insurance, Pensions, & Investments. As of March 9, the stock has gained 7.83% over the past 6 months and is trading at a PE multiple of 7x.

On February 27, JPMorgan analyst Raul Sinha raised his price target on Lloyds Banking Group PLC (NYSE:LYG) to 61 GBP from 58 GBP and maintained a Neutral rating on the shares. The stock has received coverage from 22 Wall Street analysts, of which 13 recommend to Buy the stock. The stock is placed fifth among the cheapest penny stocks to buy now.

At the close of the fourth quarter of 2022, 9 hedge funds were long Lloyds Banking Group PLC (NYSE:LYG) and disclosed positions worth $100.8 million in the company. This is compared to 8 hedge funds in the preceding quarter with stakes worth $57.7 million. The hedge fund sentiment for the stock is positive.

As of December 31, Ken Griffin’s Citadel Investment Group is the leading shareholder in Lloyds Banking Group PLC (NYSE:LYG) and has disclosed a position worth $18.3 million in the company.