5 Best Stocks Under $10 in 2022

2. GrafTech International Ltd. (NYSE:EAF)

Number of Hedge Funds: 31

Stock Price as of February 8: $9.79

GrafTech International Ltd. (NYSE:EAF) develops, manufactures, markets, and distributes graphite and carbon-based products globally. The Brooklyn Heights, Ohio-based corporation has over 150 patents and published patent applications while collaborating with electric arc furnace (EAF) operators. GrafTech International Ltd. (NYSE:EAF) is considered one of the biggest producers of graphite electrodes. These electrodes are employed in steel production using a technology called Electric Arc Furnace (EAF).

GrafTech International Ltd. (NYSE:EAF) reported its Q4 2021 results on February 4. The revenue for the period was $363.29 million, increasing by 7.5% YoY and outperforming the analysts’ estimate of $356 million. Sales and production volume increased by 19% YoY and 28% YoY, respectively. Meanwhile, the adjusted EPS was 50 cents, eight cents higher than consensus estimates of 42 cents.

During FY21, GrafTech International Ltd. (NYSE:EAF) lowered its debt by $400 million. This seems like a shrewd move by the company, considering there have been constant talks of interest rate hikes by the Federal Reserve. GrafTech International Ltd. (NYSE:EAF) is now left with $1.2 billion of debt on its balance sheet.