5 Best Nano-Cap Stocks To Buy For 2022

1. Audacy, Inc. (NYSE:AUD)

Market Cap as of October 14: $48.8 Million

Number of Hedge Fund Holders: 15

Audacy, Inc. (NYSE:AUD) is an American broadcasting company that owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. The stock has been creating a lot of activity on Wall Street and as of October 14, Audacy, Inc. (NYSE:AUD) has a 3-month average volume of over 828,000 and a 10-month average volume of 1.28 million. Audacy, Inc. (NYSE:AUD) is profitable, undervalued, and is ranked among the best micro-cap stocks to buy now. As of October 14, the stock has a trailing twelve-month PE ratio of 11.2 and an operating margin of 8.59%.

Wall Street analysts are positive on Audacy, Inc. (NYSE:AUD). This July, Guggenheim analyst Curry Baker revised his price target on Audacy, Inc. (NYSE:AUD) to $2 from $5 and reiterated a Buy rating on the shares. On August 8, B. Riley analyst Daniel Day revised his price target on Audacy, Inc. (NYSE:AUD) to 50c from $1 and maintained a Neutral rating on the shares.

At the end of Q2 2022, 15 hedge funds disclosed ownership of stakes in Audacy, Inc. (NYSE:AUD). These funds held collective stakes of $20.90 million in the company.

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