11 Best NYSE Penny Stocks to Buy Right Now

4. Altice USA Inc. (NYSE:ATUS)

Price as of October 31: $2.52

Number of Hedge Fund Holders: 32

Altice USA Inc. (NYSE:ATUS) is a communication services company that provides broadband communications and video services. It offers residential and business customers broadband, video, telephony, and mobile services. The stock has experienced a substantial decrease in value over the past year, and investors have been reacting to the company’s challenges in a highly competitive market.

The selloff can also be attributed to disappointing  financial results. Revenue in the third quarter was down 3.9% year over year to $2.2 billion as residential revenue fell 5.6%  to $1.7 billion. The company posted a net loss of $66.8 million.

Amid the disappointing results, Altice USA Inc. (NYSE:ATUS) registered a 47,000 increase in fiber net additions of which 73% was driven by migrations of existing customers further strengthening its revenue base.  Its Fiber  network penetration  reached 16.6%  at the end of the quarter from 10.8% a year ago. Altice USA Inc. (NYSE:ATUS) seeks to reach 3 million fibers by year-end as it focuses on operational improvements and financial discipline.

With more than 175,000 more passing anticipated in 2024, Altice USA Inc. (NYSE:ATUS) is also working to expand its network. Low churn rates and rising Net Promoter Scores further indicate the company’s emphasis on customer satisfaction. The company is also actively managing its debt maturity profile as part of its financial strategy, and it has taken action to pay off short-term maturities until 2027.