EV Penny Stocks List: From $10 to Under $1

9. Commercial Vehicle Group, Inc. (NASDAQ:CVGI)

Number of Hedge Fund Holders: 12

Share Price as of April 16 2025: $0.85

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is an auto parts company that provides systems, assemblies, and components to the vehicle and electric vehicle markets. While the stock has underperformed over the past year, management has moved to reinvigorate growth prospects. Consequently, it has announced an organizational restructuring, reorganizing the company into three divisions: Global Electrical Systems, Global Seating, and Trim Systems and Components.

The restructuring follows a push to streamline operations and reduce costs. Additionally, the restructuring is expected to enhance market focus and operational efficiency while reducing corporate and administrative costs. The restructuring drive came on Commercial Vehicle Group, Inc. (NASDAQ:CVGI) delivering disappointing Q4 2024 results. Revenue in the quarter totaled $163.3 million, missing the consensus estimate of $220.49 million.

The lower-than-expected net loss came amid softening demand in construction and agriculture markets and lower-class eight heavy trucks builds. Nevertheless, Commercial Vehicle Group, Inc. (NASDAQ:CVGI) remains well positioned to bounce back to growth, with management projecting revenue of between $670 million and $710 million for 2025, which aligns with analyst expectations. The expected growth should come on Commercial Vehicle Group ramping up new business wins totaling $97 million in its Electrical Systems segment.