5 Most Undervalued Penny Stocks To Invest In

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In this article, we will take a look at the 5 most undervalued penny stocks to invest in. To see more such companies, go directly to 16 Most Undervalued Penny Stocks To Invest In.

5. Sirius XM Holdings Inc. (NASDAQ:SIRI)

Number of Hedge Fund Holders: 19

Broadcasting and media company Sirius XM Holdings Inc. (NASDAQ:SIRI) ranks 4th in our list of the most undervalued penny stocks to buy according to hedge funds. A total of 19 hedge funds in Insider Monkey’s database of 910 funds were long Sirius XM Holdings Inc. (NASDAQ:SIRI). The biggest stakeholder of Sirius XM Holdings Inc. (NASDAQ:SIRI) was Dmitry Balyasny’s Balyasny Asset Management which owns a $19.5 million stake in the company.

Deutsche Bank upgraded Sirius XM Holdings Inc. (NASDAQ:SIRI) to Hold as it said 2023 continues to be a challenging year for the company. However, the firm is hopeful that the second half of the year could be better than the first, driven by the company’s re-launch of its streaming product, and recent price increases, among other factors.

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