This article presents an overview of the 5 Best 52-Week Low Stocks To Buy Now. For a detailed overview of such stocks, read our article, 18 Best 52-Week Low Stocks To Buy Now.
5. bluebird bio Inc (NASDAQ:BLUE)
Number of Hedge Fund Investors: 20
Biotech company bluebird bio Inc (NASDAQ:BLUE) shares have lost about 82% in value over the past one year.
A total of 20 hedge funds in the database of Insider Monkey had stakes in bluebird bio Inc (NASDAQ:BLUE).
4. Petco Health and Wellness Company Inc (NASDAQ:WOOF)
Number of Hedge Fund Investors: 22
Pet food and supplies company Petco Health and Wellness Company Inc (NASDAQ:WOOF) shares have lost about 77% in value over the past one year.
Goldman Sachs recently said in its Americas Retail report for 2024 that retailers that offer ideas in “categories that consumers continue to prioritize” could gain in the year. Petco Health and Wellness Company Inc (NASDAQ:WOOF) is one of the stocks Goldman is bullish on.
A total of 22 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Petco Health and Wellness Company Inc (NASDAQ:WOOF).
3. Forward Air Corp (NASDAQ:FWRD)
Number of Hedge Fund Investors: 22
Forward Air Corp (NASDAQ:FWRD) has lost about 55% in value over the past one year. But the stock recently gained after reports that its legal issues with Omni Logistics were settled and Forward Air Corp (NASDAQ:FWRD) recently confirmed that it has completed the acquisition of Omni Logistics.
Vulcan Value Partners made the following comment about Forward Air Corporation (NASDAQ:FWRD) in its Q3 2023 investor letter:
“During the quarter we sold Forward Air Corporation (NASDAQ:FWRD). The company announced its decision to acquire Omni Logistics for an enterprise value of $3.2 billion. The transaction will significantly increase leverage at the pro forma company and will materially dilute existing shareholders. We also think that the transaction has questionable strategic rationale and significant execution risk. In sum, the transaction not only reduced our estimate of intrinsic value per share, but made that estimate unstable, leading to our decision to exit the position.”
2. National Fuel Gas Co. (NYSE:NFG)
Number of Hedge Fund Investors: 23
National Fuel Gas Co. (NYSE:NFG) ranks second in our list of the best 52-week low stocks to buy according to hedge funds.
As of the end of the third quarter of 2023, 23 hedge funds tracked by Insider Monkey had stakes in National Fuel Gas Co. (NYSE:NFG).
Heartland Value Fund made the following comment about National Fuel Gas Company (NYSE:NFG) in its Q3 2023 investor letter:
“Utilities. National Fuel Gas (NYSE:NFG) is another existing holding we added to in the quarter. NFG is an energy company, with regulated utility assets, involved in the production, transportation, and distribution of natural gas. The stock’s correlation with natural gas prices has been high, so it wasn’t too surprising when the stock fell as natural gas prices declined following last year’s benign winter.
But prices are expected to rebound in the coming months now that the supply issue has been addressed with the steep drop in oil gas rig counts. Demand is also set to improve starting in 2025 with the onset of more U.S. liquefied natural gas (LNG) exports. Meanwhile, this is a well-run business with a track record of financial soundness. NFG, for instance, has raised dividends for 53 consecutive years because of the consistent cash flow generation from its midstream and utility segments.
Yet, when looking at valuations, we see a disconnect. NFG is trading at a 20% discount to its historical valuations compared with traditional oil and gas exploration and production stocks. The relative premium it typically garners is a function of the company’s ability to leverage its pipeline infrastructure to capitalize on higher natural gas prices and the stability of non-energy cash flows. We are positioning the portfolio to take advantage of this opportunity.”
1. Green Plains Inc (NASDAQ:GPRE)
Number of Hedge Fund Investors: 24
Ethanol fuel company Green Plains Inc (NASDAQ:GPRE) shares have lost about 25% over the past one year.
Insider Monkey’s database of 910 funds shows that 24 hedge funds had stakes in Green Plains Inc (NASDAQ:GPRE). The biggest hedge fund stakeholder of Green Plains Inc (NASDAQ:GPRE) was Frederick Disanto ‘s Ancora Advisors which owns a $122 million stake.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 13 Most Buzzing Stocks To Buy Now and the 13 Best Grocery Stocks To Buy Now.
