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In this article, we will look at the 10 best stocks to buy that are trading for less than $10 a share. If you want to explore similar stocks, you can also take a look at 5 Best Stocks Under $10 To Buy Right Now.
If you're looking to invest in stocks but don't want to break the bank, there might be plenty of options available for you. There are many companies that are currently trading for under $10 a share, and some of these companies are leaders in their respective industries. Of course, stocks are risky and small-cap stocks are even riskier, but with sound research, investors can find good companies with solid fundamentals and generate decent returns on a relatively small initial investment.
Stocks are getting hammered in 2022 and, for investors, it is becoming difficult by the day to find quality companies to invest in. As of October 21, the S&P 500 has lost 21.76% year to date, the Nasdaq has tanked more than 31% since the beginning of the year, and the Dow is down 15% for the year. For risk-averse investors, some of the top options include Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Alphabet Inc. (NASDAQ:GOOG), since these are mature businesses with relatively low risk and volatility.
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Our Methodology
To determine the best stocks to buy under $10, we screened for companies with solid product pipelines and strong business fundamentals. We also took into account the market sentiment for each stock before narrowing down our selection. Along with each stock, we have mentioned the hedge fund sentiment, analyst ratings, and salient features that make them good candidates for investing.
Best Stocks Under $10 To Buy Right Now
10. Fusion Fuel Green PLC (NASDAQ:HTOO)
Share Price as of October 21: $3.80
Number of Hedge Fund Holders: 4
Fusion Fuel Green PLC (NASDAQ:HTOO) is a leading provider of green hydrogen solutions. The company's technology can produce green hydrogen at a lower cost than traditional methods, making it an attractive option for businesses and governments looking to reduce their carbon footprint. The company's product portfolio is also backed by a number of patents, providing the company with a competitive advantage over peers. The company is a pure-play green hydrogen company and is expected to benefit from the growing demand for alt fuels.
Fusion Fuel Green PLC (NASDAQ:HTOO) has come to the attention of Wall Street. As of October 21, the stock has a 3-month average trading volume of roughly 73,000 and on September 22, RBC Capital analyst Erwan Kerouredan took coverage of Fusion Fuel Green PLC (NASDAQ:HTOO) with a $7 price target and a Sector Perform rating.
At the close of Q2 2022, 4 hedge funds were long Fusion Fuel Green PLC (NASDAQ:HTOO) and held stakes worth $15.45 million in the company. As of June 30, MAK Capital One is the leading investor in Fusion Fuel Green PLC (NASDAQ:HTOO) and has stakes worth $13.5 million in the company.
For investors that are not looking to jump into volatile investments or trades, some of the top long-term stocks to buy include Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Alphabet Inc. (NASDAQ:GOOG).
9. Costamare Inc. (NYSE:CMRE)
Share Price as of October 21: $9.47
Number of Hedge Fund Holders: 8
Costamare Inc. (NYSE:CMRE) is a global shipping company that owns and operates containerships. The company has a strong history of profitability and awarding shareholders with dividends. The stock has pulled back in 2022 and is presenting an attractive entry point for investors. As of October 21, Costamare Inc. (NYSE:CMRE) is trading at a PE ratio of 2.39 and is offering a forward dividend yield of 4.86%. The company has a trailing twelve-month operating margin of 50.8% and an ROE of 31.19%. Costamare Inc. (NYSE:CMRE) is ranked high among the best stocks to buy now for under $10.
On July 19, Stifel analyst Benjamin Nolan revised his price target on Costamare Inc. (NYSE:CMRE) to $15 from $16 and reiterated a Buy rating on the shares. On July 20, Jefferies analyst Omar Nokta took coverage of Costamare Inc. (NYSE:CMRE) with a Buy rating and a $19 price target.
At the close of Q2 2022, 8 hedge funds held stakes in Costamare Inc. (NYSE:CMRE). The total value of these stakes amounted to $39.8 million. As of June 30, Renaissance Technologies is the largest shareholder in Costamare Inc. (NYSE:CMRE) and has stakes worth $28.85 million in the company.
8. Tricon Residential Inc. (NYSE:TCN)
Share Price as of October 21: $8.71
Number of Hedge Fund Holders: 10
Tricon Residential Inc. (NYSE:TCN) is a real estate investment trust focused on the development, acquisition, and management of residential properties. The company has a diversified portfolio of properties across the United States, Canada, and Mexico. Tricon Residential Inc. (NYSE:TCN) is a well-capitalized company with a strong balance sheet and a diversified portfolio of properties that generate stable cash flows.
Tricon Residential Inc. (NYSE:TCN) is trading at a PE multiple of 3x and is offering a forward dividend yield of 2.66%, as of October 21. The company has free cash flows of $162.8 million and a trailing twelve-month operating margin of 43.74%.
This September, Citi analyst Michael Bilerman upgraded Tricon Residential Inc. (NYSE:TCN) to Buy from Neutral and reiterated his price target of $12.50 on the shares. On October 13, Canaccord analyst Christopher Koutsikaloudis revised his price target on Tricon Residential Inc. (NYSE:TCN) to $15.50 from $16.50 and maintained a Buy rating on the shares.
At the end of Q2 2022, 10 hedge funds disclosed ownership of stakes in Tricon Residential Inc. (NYSE:TCN). The total stakes of these hedge funds amounted to $58.9 million, up from $35.7 million in the previous quarter with 8 positions. The hedge fund sentiment for the stock is positive.
As of June 30, Millennium Management is the leading shareholder in Tricon Residential Inc. (NYSE:TCN) and has stakes worth $18.3 million in the company.
7. Equinox Gold Corp. (NYSE:EQX)
Share Price as of October 21: $3.38
Number of Hedge Fund Holders: 11
Equinox Gold Corp. (NYSE:EQX) is a leading Canadian gold mining company with a portfolio of assets in Brazil, Chile, and Turkey. The company is a low-cost gold producer with a high-margin profile and is well-positioned to benefit from rising gold prices. As of October 21, Equinox Gold Corp. (NYSE:EQX) has a trailing twelve-month PE ratio of 2.35 and is presenting an optimal entry point for investors.
Wall Street is positive on Equinox Gold Corp. (NYSE:EQX). This September, BMO Capital analyst Ryan Thompson adjusted his price target on Equinox Gold Corp. (NYSE:EQX) to C$8.50 from C$9.50 and reiterated an Outperform rating on the shares. On October 13, National Bank analyst John Sclodnick revised his price target on Equinox Gold Corp. (NYSE:EQX) to C$6 from C$6.75 and maintained a Sector Perform rating on the shares.
At the end of Q2 2022, 11 hedge funds held stakes in Equinox Gold Corp. (NYSE:EQX) worth $48.8 million. Of those, Sprott Asset Management was the top investor in the company with stakes of $26.9 million.
6. Itaú Unibanco Holding S.A. (NYSE:ITUB)
Share Price as of October 21: $5.99
Number of Hedge Fund Holders: 11
Itaú Unibanco Holding S.A. (NYSE:ITUB) is one of the largest banks in Brazil with a market capitalization of over $54 billion, as of October 21. The bank has a strong presence in both the retail and corporate banking markets and has a diversified loan portfolio. The Brazilian economy is expected to grow at a faster pace than many other emerging markets in the coming years, and Itaú Unibanco Holding S.A. (NYSE:ITUB) is well-positioned to benefit from this growth. The company is also well-capitalized and has a strong history of profitability. Itaú Unibanco Holding S.A. (NYSE:ITUB) has a trailing twelve-month operating margin of 38.63% and has free cash flows of R$127.8 billion. Itaú Unibanco Holding S.A. (NYSE:ITUB) is one of the best stocks to buy now for under $10.
Wall Street sees material upside to Itaú Unibanco Holding S.A. (NYSE:ITUB). On September 29, Goldman Sachs analyst Tito Labarta raised his price target on Itaú Unibanco Holding S.A. (NYSE:ITUB) to $7 from $5.40 and upgraded the stock to Buy from Neutral.
At the close of Q2 2022, 11 hedge funds were bullish on Itaú Unibanco Holding S.A. (NYSE:ITUB) and held stakes worth $397.5 million in the company. Of those, Orbis Investment Management is the top shareholder in the company and has stakes worth $127 million.
For investors with low risk tolerance, companies with established business models, such as Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Alphabet Inc. (NASDAQ:GOOG), are the best bets.
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Disclosure: None. 10 Best Stocks Under $10 To Buy Right Now is originally published on Insider Monkey.
