5 Most Undervalued Penny Stocks To Buy According To Hedge Funds

In this article, we will take a look at the 5 most undervalued penny stocks to buy according to hedge funds. To see more such companies, go directly to 13 Most Undervalued Penny Stocks To Buy According To Hedge Funds.

5. Solid Power, Inc. (NASDAQ:SLDP)

Number of Hedge Fund Holders: 15

Solid Power, Inc. (NASDAQ:SLDP) is operating in the high-growth and lucrative battery industry. Solid Power, Inc. (NASDAQ:SLDP) has gained about 53% year to date. It has a PE ratio of 2.13. Of the 920 hedge funds in Insider Monkey’s database as of the end of the third quarter, 15 hedge funds had stakes in Solid Power, Inc. (NASDAQ:SLDP). The biggest stakeholder of Solid Power, Inc. (NASDAQ:SLDP) during the period was Ken Griffin’s Citadel Investment Group which owns a $3.6 million stake.

In December, the stock rose after Solid Power, Inc. (NASDAQ:SLDP) said it will expand its joint development agreement with BMW Group. According to the deal, Solid Power, Inc. (NASDAQ:SLDP) will give BMW an R&D license for its all-solid-state cell design and manufacturing technology.