15 Best Stocks Under $10 To Buy Now

Published on March 17, 2023 at 5:54 pm by Omer Farooq in Hedge Funds, News

In this article, we will discuss the 15 best stocks to buy now that are currently trading under $10. If you want to explore similar stocks, you can also take a look at 5 Best Stocks Under $10 To Buy Now.

The stock market volatility of 2022 has carried into 2023. The year got off to a positive start, with the Fed raising interest rates by 25 basis points (bps) in February. Earlier this month at Capitol Hill, Fed chair Powell took a relatively hawkish tone since inflation still remains above the target rate. However, this was before the collapse of SVB and Signature Bank. These bank failures have spelled trouble for the global financial system and now the markets are pricing in a quarter point hike, with a small group also considering the possibility of a Fed pause.

On March 15 Invesco’s chief global market strategist, Kristina Hooper, appeared in an interview on CNBC to discuss the Fed and her view of the markets. Kristina Hooper noted that there is a lack of clarity about the course that the Fed will take at the March meeting. However, if the banking crisis continues and the Fed decides to pause, Hooper thinks that it will be a conditional pause and not a complete halt. Kristina Hooper did not name any sectors she likes in the current environment, because she follows a long-term strategy.

Hooper thinks that investors with a long-term time horizon, “can be well-diversified and take advantage of what can be market panics that create pricing inefficiencies”. For investors with a short-term time horizon, Hooper recommends being defensively positioned. Kristina Hooper sees increasing near-term volatility and, while there is a lack of clarity with the Fed amid contagion fears, she thinks that the PPI report was a positive for the markets on the inflation front.

The next FOMC meeting is just around the corner. Right now, the majority of the market is expecting a 25 basis point rate hike, while there is a 26.9% chance of the Fed pausing. In highly uncertain and volatile times like these, retail investors can feel overwhelmed and find it difficult to park some cash in the stock market, especially those that are on a budget. Investing in $10 stocks can be a viable investment option for investors that do not want to break the bank, and at the same time diversify. We have compiled a list of the 15 best stocks to buy now, according to hedge funds, that are currently trading under $10. Some of the best stocks $10 stocks to buy now include Yamana Gold Inc. (NYSE:AUY), Transocean Ltd (NYSE:RIG), and Southwestern Energy Company (NYSE:SWN).

New York Wall Street sign.

Our Methodology

We scanned Insider Monkey’s database of 943 hedge funds’ stock holdings and picked top 15 stocks priced under $10 as of March 16. That means these are the best under-$10 stocks to buy according to hedge funds. We have ranked these stocks in ascending order of the number of hedge funds that have stakes in them.

Best Stocks Under $10 To Buy Now

15. RLX Technology Inc. (NYSE:RLX)

Share Price as of March 16: $2.58

Number of Hedge Fund Holders: 22

RLX Technology Inc. (NYSE:RLX) is a prominent player in the global e-vapor industry. This March, Citi raised its price target on RLX Technology Inc. (NYSE:RLX) to $3.15 from $2.60 and maintained a Buy rating on the shares. The stock is one of the best stocks to buy now under $10, according to analysts and hedge funds.

At the end of Q4 2022, RLX Technology Inc. (NYSE:RLX) was held by 22 investors that disclosed collective positions worth $173.6 million in the company. This is compared to 8 hedge funds in the previous quarter with stakes worth $50.5 million. The hedge fund sentiment for the stock is positive.

As of December 31, Wildcat Capital Management is the top investor in RLX Technology Inc. (NYSE:RLX) and has disclosed a stake worth $71.05 million in the company.

14. Genworth Financial, Inc. (NYSE:GNW)

Share Price as of March 16: $5.03

Number of Hedge Fund Holders: 23

Genworth Financial, Inc. (NYSE:GNW) is a global insurance company. The company operates through three segments: Enact, U.S. Life Insurance, and Runoff. As of March 16, the stock has gained more than 20% over the past 6 months and is trading at a PE multiple of 4x. The stock is placed fourteenth on our list of the best stocks to buy now under $10, according to hedge funds.

At the end of Q4 2022, 23 hedge funds were long Genworth Financial, Inc. (NYSE:GNW) and held collective stakes worth $172.4 million. This is compared to 25 hedge funds in the previous quarter with stakes worth $112.7 million. As of December 31, GLG Partners is the top stockholder in the company and has a position worth $18.7 million.

Other stocks that are currently trading at less than $10 per share and are on the radars of elite hedge funds and analysts include Yamana Gold Inc. (NYSE:AUY), Transocean Ltd (NYSE:RIG), and Southwestern Energy Company (NYSE:SWN).

13. ADT Inc. (NYSE:ADT)

Share Price as of March 16: $7.00

Number of Hedge Fund Holders: 23

ADT Inc. (NYSE:ADT) is a leading American provider of security, automation, and smart home solutions for consumer and business applications. On February 28, the company reported earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $0.10 and generated a revenue of $1.65 billion, up 19.12% year over year and ahead of Wall Street estimates by $24.15 million.

ADT Inc. (NYSE:ADT) was a part of 23 investors’ portfolios at the end of Q4 2022. These funds held collective stakes worth $273.6 million in the company, up from $270.4 million in the previous quarter with 28 positions. As of December 31, Ariel Investments is the largest investor in ADT Inc. (NYSE:ADT) and has a position worth $152.6 million.

Here is what Ariel Investments had to say about ADT Inc. (NYSE:ADT) in its Q3 2022 investor letter:

“Leading provider of automated security solutions ADT Inc. (NYSE:ADT) advanced in the period. This quarter’s financial results continue to show that last year’s elevated investment in customer acquisition is paying off. Revenue and EBITDA came in ahead of consensus, and the company reported positive adjusted net income for the first time since its initial public offering. Additionally, the company announced another strategic partnership, this time with State Farm, the nation’s largest insurer. Longer term, we believe ADT’s industry-leading brand and national presence, coupled with these nascent partnerships with Google and State Farm, position it to be a prime beneficiary of growing demand for smart home technologies, including fully monitored residential security.”

12. Crescent Point Energy Corp. (NYSE:CPG)

Share Price as of March 16: $5.97

Number of Hedge Fund Holders: 24

Crescent Point Energy Corp. (NYSE:CPG) is a North American oil and gas company headquartered in Calgary, Canada. At the close of Q4 2022, 24 hedge funds were bullish on Crescent Point Energy Corp. (NYSE:CPG) and disclosed positions worth $218.9 million in the company. This is compared to 23 positions in the previous quarter with stakes worth $185.3 million.

This January, Scotiabank analyst Jason Bouvier updated his price target on Crescent Point Energy Corp. (NYSE:CPG) to C$13 from C$15 and maintained an Outperform rating on the shares. The stock is one of the best stocks to buy now that are trading under $10.

As of December 31, Ken Griffin’s Citadel Investment Group is the most prominent investor in Crescent Point Energy Corp. (NYSE:CPG) and holds a position worth $47.9 million in the company.

11. Kinross Gold Corporation (NYSE:KGC)

Share Price as of March 16: 3.83

Number of Hedge Fund Holders: 24

Kinross Gold Corporation (NYSE:KGC) is a Canadian gold mining company with operations in the United States, Brazil, Chile, and Mauritania. On March 1, Canaccord analyst Carey MacRury revised his price target on Kinross Gold Corporation (NYSE:KGC) to C$8.25 from C$8.50 and reiterated a Buy rating on the shares.

At the close of the fourth quarter of 2022, 24 hedge funds disclosed positions worth $268.8 million in Kinross Gold Corporation (NYSE:KGC). Of those, First Eagle Investment Management was the largest stockholder in the company and held a stake worth $18.5 million.

10. BGC Partners, Inc. (NASDAQ:BGCP)

Share Price as of March 16: $5.40

Number of Hedge Fund Holders: 25

BGC Partners, Inc. (NASDAQ:BGCP) is a leading global financial services company. On February 27, the company posted strong earnings for the fourth quarter of fiscal 2022. The company generated a revenue of $436.52 million and outperformed estimates by $13.53 million. The company reported an EPS of $0.16 and beat EPS expectations by $0.01.

BGC Partners, Inc. (NASDAQ:BGCP) was a part of 25 investors’ portfolios that held collective positions worth $266.2 million in the company, at the end of Q4 2022. This is compared to 25 hedge funds in the previous quarter with stakes worth $229.3 million. BGC Partners, Inc. (NASDAQ:BGCP) is placed tenth among the best $10 stocks to buy now according to hedge funds.

As of December 31, Rubric Capital Management is the leading investor in BGC Partners, Inc. (NASDAQ:BGCP) and has a stake worth $68.8 million in the company.

9. Kosmos Energy Ltd. (NYSE:KOS)

Share Price as of March 16: $6.37

Number of Hedge Fund Holders: 26

Kosmos Energy Ltd. (NYSE:KOS) is an American oil and gas company, headquartered in Dallas, Texas. On March 15, Barclays analyst James Hosie revised his price target on Kosmos Energy Ltd. (NYSE:KOS) to $10 from $10.75 and maintained an Overweight rating on the shares.

As of March 16, Kosmos Energy Ltd. (NYSE:KOS) is trading at a PE multiple of 13x and is one of the best stocks to buy now under $10.

At the end of the fourth quarter of 2022, 26 hedge funds were long Kosmos Energy Ltd. (NYSE:KOS) and held stakes worth $281.8 million in the company. This is compared to 30 hedge funds in the preceding quarter with stakes worth $223.5 million. As of December 31, Maple Rock Capital is the top shareholder in the company and holds a position worth $70.1 million.

8. Sirius XM Holdings Inc. (NASDAQ:SIRI)

Share Price as of March 16: $3.61

Number of Hedge Fund Holders: 26

Sirius XM Holdings Inc. (NASDAQ:SIRI) is an American provider of satellite radio and online radio services. At the close of Q4 2022, 26 hedge funds held stakes in Sirius XM Holdings Inc. (NASDAQ:SIRI). The total value of these stakes amounted to $88 million. As of December 31, Zimmer Partners is the largest investor in the company and has a position worth $18.3 million.

On February 2, Sirius XM Holdings Inc. (NASDAQ:SIRI) released earnings for the fourth quarter of fiscal 2022. The company generated a revenue of $2.28 billion and reported an EPS of $0.10, outperforming EPS expectations by $0.02. On February 6, Deutsche Bank analyst Bryan Kraft revised his price target on Sirius XM Holdings Inc. (NASDAQ:SIRI) to $6.25 from $7.50 and reiterated a Buy rating on the shares.

In addition to Sirius XM Holdings Inc. (NASDAQ:SIRI), other $10 stocks that are widely-held by hedge funds include Yamana Gold Inc. (NYSE:AUY), Transocean Ltd (NYSE:RIG), and Southwestern Energy Company (NYSE:SWN).

7. TAL Education Group (NYSE:TAL)

Share Price as of March 16: $6.01

Number of Hedge Fund Holders: 28

TAL Education Group (NYSE:TAL) is a prominent player in the global education services industry. The stock is placed seventh on our list of the best $10 stocks to buy now according to hedge funds. As of March 16, the stock has gained more than 120% over the past 12 months and is currently trading at $6.01 per share.

TAL Education Group (NYSE:TAL) was held by 28 hedge funds at the end of Q4 2022. These funds held collective stakes worth $274 million in the company, up from 133.6 million in the preceding quarter with 20 positions. As of December 31, Two Sigma Advisors is the leading shareholder in the company and has disclosed a stake worth $31.1 million.

6. Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Share Price as of March 16: $8.50

Number of Hedge Fund Holders: 29

Teva Pharmaceutical Industries Limited (NYSE:TEVA) is involved in the development and distribution of generic medicines, specialty medicines, and biopharmaceutical products across the globe. At the end of Q4 2022, 29 hedge funds were eager on Teva Pharmaceutical Industries Limited (NYSE:TEVA) and held stakes worth $525.8 million in the company. This is compared to 27 positions in the previous quarter with stakes worth $573 million. The hedge fund sentiment for this stock is positive.

On February 9, Barclays analyst Balaji Prasad raised his price target on Teva Pharmaceutical Industries Limited (NYSE:TEVA) to $14 from $13 and reiterated an Overweight rating on the shares. The stock is one of the best $10 stocks to buy now according to analysts and hedge funds.

As of December 31, Abrams Capital Management is the most prominent shareholder in Teva Pharmaceutical Industries Limited (NYSE:TEVA) and has a stake worth $145.3 million in the company.

Click to continue reading and see 5 Best Stocks Under $10 To Buy Now.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on December 13, 2024 at by Inan Dogan, PhD

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A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

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Click to continue reading…

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