5 Best Very Cheap Stocks To Buy Now According To Hedge Funds

02. Lumen Technologies, Inc. (NYSE:LUMN)

Number of Hedge Fund Holders as of Q2, 2022: 42

Stock Price as of October 27: $7.05

Lumen Technologies, Inc. (NYSE:LUMN) is a leading American telecommunications company that provides communications, network services, security solutions, and cloud solutions among other services.

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have pulled back in 2022 and are now presenting an attractive buying opportunity for investors. As of October 26, the stock has a trailing twelve-month PE ratio of 3.49 and is awarding shareholders a forward dividend yield of 14.45%. Lumen Technologies, Inc. (NYSE:LUMN) has free cash flows of over $3 billion and is one of the best cheap stocks to buy now. On October 20, RBC Capital analyst Bora Lee lowered his price target on Lumen Technologies, Inc. (NYSE:LUMN) to $6 from $11 and kept a Sector Perform rating on the shares.

At the end of Q2 2022, 42 hedge funds were long Lumen Technologies, Inc. (NYSE:LUMN) and held stakes worth $1.02 billion in the company. This is compared to 30 positions in the previous quarter with stakes worth $904.85 million. The hedge fund sentiment for the stock is positive.