10 Best NYSE Penny Stocks To Buy

1. TETRA Technologies, Inc. (NYSE:TTI)

Share Price as of June 27: $3.42

Number of Hedge Fund Holders: 23

TETRA Technologies, Inc. (NYSE:TTI) is a global energy services company with two main divisions. The Completion Fluids & Products segment provides clear brine fluids, additives, and ultra-pure zinc bromide for various industries, including oil, gas, and battery technology. The Water & Flowback Services segment focuses on water management, frac flowback, and production well testing for oil and gas operators. TETRA Technologies takes the top spot on our list of best NYSE penny stocks to buy.

TETRA Technologies, Inc. is set to capitalize on a prolonged upcycle in offshore and deepwater activities. The company’s strategic investments in capacity expansions are expected to yield significant returns. The Completion Fluids & Products segment is projected to maintain its upward trajectory with high-margin products and expanding global operations. The company’s proprietary TETRA PureFlow ultra-pure zinc bromide also positions it advantageously in the growing battery technology market, which guarantees diversified revenue streams.

Moreover, analysts estimate a 107% year-over-year increase to TETRA Technologies, Inc.’s (NYSE:TTI) EPS in 2024 and the company is trading at 11.7x its estimated 2024 earnings, which provides an attractive entry point to investors. Wall Street is also quite bullish on the stock as 6 analysts keep a Buy rating on the stock with an average price target of $7.42, representing an upside of 117% from the current levels, as of June 27.

According to our database, 23 hedge funds had stakes worth $63.15 million in TETRA Technologies, Inc. as of the first quarter. Tontine Asset Management is the most prominent shareholder of the company with 4.8 million shares worth $21.3 million as of Q1.

While we acknowledge the potential of TTI, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Read Next: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.