In this article, we will take a look at the 5 best all-time low stocks to buy now. To see more such companies, go directly to 11 Best All-Time Low Stocks To Buy Now.
5. Century Therapeutics, Inc. (NASDAQ:IPSC)
Number of Hedge Fund Holders: 12
Century Therapeutics, Inc. (NASDAQ:IPSC) is one of the best all-time low stocks to buy now. The biotech company has a strong pipeline of allogeneic iNK and iT cell therapy product candidates for solid tumor and hematologic malignancies. Century Therapeutics, Inc. (NASDAQ:IPSC) is known for its Allo-Evasion technology to avoid host rejection and potentially increase the durability of clinical responses.
Century Therapeutics has lost about 70% in value over the past 12 months. Earlier this month, Century Therapeutics, Inc. (NASDAQ:IPSC) announced that it plans to cut 25% of its workforce and prioritize certain programs in its pipeline in a move to extend its cash runway into 2026.
Century Therapeutics, Inc. (NASDAQ:IPSC) said that it will focus on its lead candidates CNTY-101 and CNTY-102 for B-cell malignancies and CNTY-107 for solid tumors.
As of the end of the third quarter, 12 hedge funds tracked by Insider Monkey reported having stakes in Century Therapeutics, Inc. (NASDAQ:IPSC). Eli Casdin’s Casdin Capital has a $32 million stake in Century Therapeutics, Inc. (NASDAQ:IPSC).
4. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders: 28
Problems for the crypto company Coinbase are far from over. Coinbase Global, Inc. (NASDAQ:COIN) has lost over 80% over the past 12 months. Coinbase Global, Inc. (NASDAQ:COIN) touched its all-time low in December. Recently, Coinbase Global, Inc. (NASDAQ:COIN) announced to slash about 20% of its workforce as it plans to cut costs and initiate massive restructuring. Coinbase Global, Inc. (NASDAQ:COIN)’s management said that the layoffs and new restructuring measures are expected to cut the company’s expenses by 25% for the quarter ending in March.
Coinbase Global, Inc. (NASDAQ:COIN) could be the biggest beneficiary of a possible turnaround in the crypto market when recession fears recede. Latest data shows that option traders are initiating bullish bets on the company as they believe Coinbase Global, Inc. (NASDAQ:COIN) could post gains if the crypto market recovers. According to CNBC, Optimize Advisors’ Mike Khouw said the cryptocurrency exchange platform traded at 1.6x average daily volume on Monday. Buyers purchased 10,000 of the Jan. 13 weekly 40-calls at an average price of $1.15 per contract.
3. Rivian Automotive, Inc. (NASDAQ:RIVN)
Number of Hedge Fund Holders: 30
American EV company Rivian Automotive, Inc. (NASDAQ:RIVN) fell to new lows after it missed estimates for 2022. Rivian Automotive, Inc. (NASDAQ:RIVN) said it produced 24,337 vehicles in 2022, including 10,020 in the fourth quarter. Rivian Automotive, Inc. (NASDAQ:RIVN) suffered amid supply-chain issues and demand headwinds. Latest media reports also suggest that several executives recently left the company. The WSJ reported that Rivian’s vice president who was overseeing body engineering left the company, in addition to the company’s head of supply chain. Rivian Automotive, Inc. (NASDAQ:RIVN) shares have lost a whopping 80% over the past 12 months.
Rivian Automotive, Inc. (NASDAQ:RIVN) is still operating in a high-growth market. If the market starts to turn the corner and the company manages to fix its supply-chain problems, the stock could be a profitable investment for long-term investors.
As of the end of the third quarter of 2022, 30 hedge funds had stakes in Rivian Automotive, Inc. (NASDAQ:RIVN), compared to 35 funds in the previous quarter.
2. Lyft, Inc. (NASDAQ:LYFT)
Number of Hedge Fund Holders: 37
Lyft, Inc. (NASDAQ:LYFT) is one of the most notable ride-hailing services in the world. In November, the stock fell to its all-time lows after several market analysts downgraded the stock following Lyft, Inc. (NASDAQ:LYFT)’s disappointing quarterly results. Evercore ISI team led by Mark Mahaney decreased its price target on Lyft, Inc. (NASDAQ:LYFT) from $41 to $18 per share and downgraded the stock to In-Line from Outperform. Evercore said in a note to investors that they prefer Uber over Lyft and highlighted that Lyft lost 1% market share to Uber. The stock analysis firm also warned of a demand slump in 2023.
As of the end of the third quarter, 37 hedge funds tracked by Insider Monkey reported having stakes in Lyft, Inc. (NASDAQ:LYFT), compared to 35 funds in the previous quarter. This shows a positive hedge fund sentiment around the stock.
Here is what Artisan Partners specifically said about Lyft, Inc. (NASDAQ:LYFT) in its Q2 2022 investor letter:
“Lyft, Inc. (NASDAQ:LYFT), the second-largest ride-hailing company in the US, connects riders and drivers over a mobile app. When we began our GardenSM campaign, our thesis was based on a likely strong ridership recovery post-pandemic, as well as management’s growing focus on increasing profitability after years of heavy investment. While the company has made some progress on margins as the economy has re-opened, driver shortages and fuel inflation have disrupted that progress. Given uncertainty around when these cost pressures could abate, we exited our position.”
1. Peloton Interactive, Inc. (NASDAQ:PTON)
Number of Hedge Fund Holders: 45
Peloton Interactive, Inc. (NASDAQ:PTON) touched its all-time low back in May and hasn’t seen any lift in the stock price since as it’s trading at around $9 as of January 11. Despite its deep-rooted problems, some analysts believe Peloton Interactive, Inc. (NASDAQ:PTON) can rebound as most of its revenue is now coming from subscriptions. Subscriptions account for 70% of gross margins, with low churn rates. Some Peloton bulls also believe that Peloton Interactive, Inc. (NASDAQ:PTON) has a strong product base and is set to profit in the future as Peloton products have now become a status symbol. In the first quarter, Peloton Interactive, Inc. (NASDAQ:PTON) posted a 36% y/y growth rate in subscription revenue to $412.3 million. Subscriptions accounted for about 67% of the total revenue of the company in the period.
Hedge funds also increased their bets on Peloton Interactive, Inc. (NASDAQ:PTON). As of the end of the third quarter, 45 hedge funds tracked by Insider Monkey reported having stakes in Peloton, compared to 39 funds in the previous quarter.
Here is what Merion Road Capital specifically said about Peloton Interactive, Inc. (NASDAQ:PTON) in its Q3 2022 investor letter:
“Peloton Interactive, Inc. (NASDAQ:PTON) is quite a different story. You may recall from my Q1 letter that I initiated a position in the stock given the potential for a new CEO to leverage the company’s passionate and engaged userbase. The investment had meaningful upside potential (multiples of the then trading price), but also presented real downside risk; as such, I kept our exposure to just a few percentage points of the portfolio. Fast forward six months and underlying trends like churn, engagement, and new users weakened dramatically. I sold our shares as the likelihood for the company to achieve financial success has become increasingly remote.”
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