10 Most Undervalued Penny Stocks to Buy According to Hedge Funds

7. Hanesbrands Inc. (NYSE:HBI)

Share Price as of April 18: $4.4

Forward P/E ratio as of April 18: 9.4

Number of Hedge Fund Holders: 31

Hanesbrands Inc. (NYSE:HBI) designs, manufactures, sources, and sells innerwear apparel for men, women, and children. It offers its products under the Hanes, Bali, Bonds, Maidenform, Playtex, JMS/Just My Size, Comfortwash, Hanes Beefy-T, Polo Ralph Lauren, Sheridan, Bras N Things, Wonderbra, Berlei, Zorba, Sol y Oro, and Rinbros brand names.

In Q4 2024, the company’s net sales in the US increased by 3% year-over-year, which was fueled by innerwear innovation. This included successful product lines like Hanes Absolute Socks, Hanes Moves, Hanes Supersoft, and Bali Breathe. Additionally, increased brand investments, effective holiday programming, and strong performance in the online channel contributed to this trajectory within the US Innerwear business.

The company’s consumer-centric approach drives its market share gains, retail space expansion, and attracts younger consumers. For the full year 2025, Hanesbrands Inc. (NYSE:HBI) anticipates positive organic constant currency sales growth, with the US Innerwear business expected to be a significant contributor. This growth will be supported by innovations and distribution gains in key channels.