10 Best Stocks Under $3 to Buy Now

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1. Transocean Ltd. (NYSE:RIG)

Share Price: $2.98

Number of Hedge Fund Holders: 38

Transocean Ltd. (NYSE:RIG) is an international drilling company that ranks among the best stocks under $3. The company is one of the world’s largest providers of offshore contract drilling services for oil and gas wells. Transocean Ltd. (NYSE:RIG) specializes in technically demanding sectors of the global offshore drilling business and is focused on deepwater and harsh environment drilling services.

The company is strategically focused on maintaining strong operational execution and leveraging advanced technologies to grow its business. In 2024, Transocean Ltd. (NYSE:RIG) strengthened its position as the technological leader in offshore drilling by achieving the industry’s first two 20K subsea completions and introducing technologies that improved operational efficiency and differentiated its fleet. This focus on innovation and reliable operations helped the company secure $2.4 billion in backlog during the year. Transocean Ltd. (NYSE:RIG) currently has industry-leading contract coverage extending into 2026.

Overall, RIG ranks first among the 10 best stocks under $3 to buy now. While we acknowledge the potential of these stocks under $3, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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