11 Best NYSE Penny Stocks to Buy Right Now

6. Ardagh Metal Packaging S.A. (NYSE:AMBP)

Price as of October 31: $3.72

Number of Hedge Fund Holders: 29

Ardagh Metal Packaging S.A. (NYSE:AMBP) is one of the companies that supply consumer metal beverage cans used in end-use categories, including beer, carbonated drinks, juices, wine, and sparkling waters. Consequently, it is well-positioned to benefit from global economic growth, which results in enhanced consumer purchasing power.

With the global economy staying clear of recession, Ardagh Metal Packaging S.A. (NYSE:AMBP) delivered solid third-quarter results, with revenues increasing 1% yearly to $1.3 billion as adjusted EBITDA increased 15% to $196 million. The better-than-expected results came as the company registered a 2% increase in its can shipments, with 1% coming in the Americas and 2% in Europe.

Buoyed by improving macroeconomics, Ardagh Metal Packaging S.A. (NYSE:AMBP) has raised its full-year adjusted EBITDA guidance to between $650 and $660 million as it expects favorable volume/mix, cost recovery and lower operating costs for the entire year, Ardagh Metal Packaging expects shipment growth to be in the mid-single digits. The business also hopes that volume growth will fuel earnings growth in 2025 and 2026.