10 Best Single Digit Stocks To Buy Now

5. Garrett Motion Inc. (NASDAQ:GTX)

Share Price as of December 27: $8.96

Number of Hedge Fund Holders: 34

Garrett Motion Inc. (NASDAQ:GTX) is an automotive technology company based in Switzerland. It specializes in turbocharging and electric boosting technologies for light and commercial vehicle OEMs and the aftermarket.

The company has numerous R&D centers, engineering facilities, and factories worldwide. It also boasts a large distribution network. Moreover, GTX maintains strong partnerships with global and Chinese automakers through its diverse range of turbocharging solutions for gasoline, diesel, natural gas, hybrid, and zero-emission battery electric vehicles.

In September 2024, Garrett Motion Inc. (NASDAQ:GTX) announced that it had signed a letter of intent with SinoTruk to enhance cooperation on electric commercial vehicles. Both companies aim to jointly co-develop a leading next-generation electric powertrain and mass-produce e-trucks equipped with this next-gen E-powertrain by 2027. This alliance is expected to expand the adoption of zero-emission technologies in China’s commercial vehicle market.

During its recent Q3 2024 earnings call on October 24, Garrett Motion Inc. (NASDAQ:GTX) announced robust financial results despite a challenging environment in the market. Net sales were posted at $826 million, down 14% from last year, due to industry softness and competitive pressures on global OEMs. However, it delivered a strong adjusted EBITDA margin of 17.4%, which was a notable year-over-year improvement driven by the successful implementation of sustainable fixed-cost actions and investments in new technologies.

Garrett Motion Inc. (NASDAQ:GTX) is seeing accelerating momentum in zero-emission vehicle technologies; it directed more than half of all its R&D spending in 2024 toward it. This has resulted in a general bullish sentiment among both Wall Street analysts and investors for the stock. According to Insider Monkey’s database for Q3 2024, 34 hedge funds had investments in the company, up from 32 at the end of the second quarter. It is one of the best single digit stocks to buy now.