In this article, we will take a look at the 5 oversold penny stocks to buy. To see more such companies, go directly to 10 Oversold Penny Stocks To Buy.
5. Rimini Street, Inc. (NASDAQ:RMNI)
Number of Hedge Fund Holders: 15
Enterprise software products company Rimini Street, Inc. (NASDAQ:RMNI) ranks 5th in our list of the oversold penny stocks to buy now.
Earlier this month Rimini Street, Inc. (NASDAQ:RMNI) posted Q2 results. GAAP EPS in the quarter came in at $0.05, in-line with analyst estimates. Revenue in the quarter came in at $106.42 million, which is a 5.2% YoY growth.
As of the end of the first quarter of 2023, 15 hedge funds tracked by Insider Monkey had reported owning stakes in Rimini Street, Inc. (NASDAQ:RMNI). The most significant shareholder of Rimini Street, Inc. (NASDAQ:RMNI) during this period was Jeffrey Diehl’s Adams Street Partners which owns a stake worth about $97 million in the company.
Diamond Hill Capital made the following comment about Rimini Street, Inc. (NASDAQ:RMNI) in its Q4 2022 investor letter:
“Bottom contributors in Q4 included Rimini Street, Inc. (NASDAQ:RMNI) and Wolverine World Wide (WWW). Shares of IT services company Rimini Street were pressured as the company’s ongoing restructuring of its global sales team has weighed on billings. The company, which offers third-party support and maintenance for enterprise software like Oracle and SAP products, offers its clients a compelling value proposition at a steep discount relative to the software providers themselves. We believe Rimini Street will be able to drive attractive levels of revenue growth once it has worked through the near-term growing pains associated with its sales team restructuring.”
4. Theseus Pharmaceuticals, Inc. (NASDAQ:THRX)
Number of Hedge Fund Holders: 16
Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) has lost about 36% in value year to date through August 8. This penny stock is in the oversold territory due to its low RSI value. However, 16 hedge funds in Insider Monkey’s database of funds reported owning stakes in Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) as of the end of the first quarter.
However, Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) investors got a setback in July after the company announced to end the development of its lead asset THE-630 for gastrointestinal stromal tumors.
Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) will now focus on THE-349, an EGFR inhibitor for EGFR mutant non-small cell lung cancer. The biggest stakeholder of Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) was Samuel Isaly’s OrbiMed Advisors which had a $153 million stake in the company.
3. Assertio Holdings, Inc. (NASDAQ:ASRT)
Number of Hedge Fund Holders: 19
Specialty pharmaceutical company Assertio Holdings, Inc. (NASDAQ:ASRT) was one of the top gainers on August 7, with the stock up about 18%. On August 3 Assertio Holdings, Inc. (NASDAQ:ASRT) posted Q2 results. Adjusted EPS in the quarter came in at $0.19 missing estimates by $0.03. Revenue in the quarter jumped about 16.7% year over year to $40.99 million, beating estimates by $1.16 million.
As of the end of the first quarter of 2023, 19 hedge funds tracked by Insider Monkey reported owning stakes in Assertio Holdings, Inc. (NASDAQ:ASRT). The most significant stakeholder of Assertio Holdings, Inc. (NASDAQ:ASRT) was Paul Marshall and Ian Wace’s Marshall Wace LLP which had an $8 million stake in the company.
2. B2Gold Corp. (NYSE:BTG)
Number of Hedge Fund Holders: 20
B2Gold Corp. (NYSE:BTG) is one of the oversold penny stocks to buy now. This penny stock is also relatively popular among hedge funds, with 20 elite funds in Insider Monkey’s database reporting stakes in B2Gold Corp. (NYSE:BTG) at the end of the first quarter of 2023. The biggest stakeholder of B2Gold Corp. (NYSE:BTG) was First Eagle Investment Management of Jean-Marie Eveillard with a $90 million stake in the company.
B2Gold Corp. (NYSE:BTG) recently posted second quarter results. Adjusted EPS in the period came in at $0.07, in-line with estimates. Revenue in the quarter jumped 232.% year over year to $470.85 million, surpassing estimates by $9.79 million.
1. Braemar Hotels & Resorts Inc. (NYSE:BHR)
Number of Hedge Fund Holders: 20
Braemar Hotels & Resorts Inc. (NYSE:BHR) tops our list of the oversold penny stocks to buy. Insider Monkey’s database of 943 hedge funds shows that 20 hedge funds reported owning stakes in Braemar Hotels & Resorts Inc. (NYSE:BHR) as of the end of the first quarter. The biggest stakeholder of Braemar Hotels & Resorts Inc. (NYSE:BHR) was James Dondero’s Highland Capital Management which had a $9 million stake in the company.
You can also take a peek at 20 Best Burger Chains in the US and 10 Oversold Blue Chip Stocks To Buy.
