10 Best Fundamentally Strong Penny Stocks to Invest In

5) Impax Asset Management Group Plc (OTC:IPXAF)

Stock Price as of 4 November: $4.92

3-Year Revenue Growth: ~18.2%

3-Year Net Income Growth: ~23.1%

Average Upside Potential: ~49%

Number of Hedge Fund Holders: N/A

Impax Asset Management Group Plc (OTC:IPXAF) is a publicly owned investment manager. With the help of its subsidiaries, the company offers investment services to funds specializing in the environmental markets sector, emphasizing alternative energy, water, and waste sectors, primarily in the UK.

Market experts opine that the opportunities to invest in the transition to a more sustainable economy are multiplying amidst ongoing challenges in the wider asset management industry. Impax Asset Management Group Plc (OTC:IPXAF) continues to focus on building out its differentiated positioning via increasing its direct distribution capability, diversifying product offerings, and focusing on reporting strong investment returns, while at the same time carefully managing the costs.

Impax Asset Management Group Plc (OTC:IPXAF)’s institutional channel and healthy new business pipeline are expected to act as tailwinds. Wall Street analysts remain optimistic about the company’s strong financial position, which stems from its high levels of cash reserves and no debt. Impax Asset Management Group Plc (OTC:IPXAF)’s cash reserves, including amounts invested in money market funds, came in at £60.8 million at the period-end (H1 2024).

The company is likely to benefit from sectoral tailwinds. The rise in the severity of issues linked to climate change, such as weather-related damage, continues to feature in both the public and offline comments of leading major investment institutions globally. This will raise the likelihood that allocations to investment areas in which Impax Asset Management Group Plc (OTC:IPXAF) has expertise will increase. The company’s investment team has been looking for mispriced opportunities and remains focused on constructing portfolios that should benefit from an improvement in secular and/or cyclical market drivers.

As per Wall Street analysts, the shares of Impax Asset Management Group Plc (OTC:IPXAF) have an average price target of $7.33.