5 Most Undervalued Penny Stocks To Invest In

3. Assertio Holdings, Inc. (NASDAQ:ASRT)

Number of Hedge Fund Holders: 20

Specialty pharma company Assertio Holdings, Inc. (NASDAQ:ASRT) ranks 3rd in our list of the best undervalued penny stocks to buy according to hedge funds. As of the end of the second quarter of 2023, 20 hedge funds in Insider Monkey’s database of hedge funds were long Assertio Holdings, Inc. (NASDAQ:ASRT). The most significant stakeholder of Assertio Holdings, Inc. (NASDAQ:ASRT) was Mark Coe’s Intrinsic Edge Capital which owns a $6.5 million stake in the company.

Assertio Holdings, Inc. (NASDAQ:ASRT) recently posted Q2 results. Adjusted EPS in the quarter totaled $0.19 missing estimates by $0.03. Revenue in the period jumped 16.7% year over year to $4.099 million, surpassing estimates by $1.16 million.