10 Oversold Penny Stocks To Invest In Now

6. Commercial Vehicle Group, Inc. (NASDAQ:CVGI)

Year to Date Gain as of October 25: -56.40%

Forward Price to Earnings Ratio: 5.13                                                          

Number of Hedge Fund Holders: 13

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is one penny stock that diversifies an investment portfolio into the Auto Parts sector. It designs, manufactures, assembles, and sells systems, assemblies, and components to commercial, electric vehicles and industrial automation markets.  Nevertheless, the company has been under pressure, going down by about 56.40% in the year to date.

The underperformance comes against the backdrop of downturns in the broader market compounded by challenges in the commercial vehicle sector. In addition, Commercial Vehicle Group, Inc. (NASDAQ:CVGI) has had to contend with supply chain disruptions and fluctuating demand for its auto parts due to the high inflation environment. Amid the challenges, it divested its Cab Structures unit to Volvo and other assets to SVO LLC in a transaction valued at $40 million. The divestment is the art of the company’s push to focus on higher-growth products and markets.

Additionally, Commercial Vehicle Group, Inc. (NASDAQ:CVGI) has set sights on growth opportunities on the international scene by expanding into Mexico and Morocco, as it also has eyes on European sales. Additionally, the company has won $45 million in new business and is growing its UNITY Seat product line internationally. These changes are a component of CVG’s continuous transformation strategy.