8 Best Small-Cap Stocks Ready to Explode According to Analysts

3. Gray Television, Inc. (NYSE:GTN)

Upside Potential as of May 21st: 97.58%

Market Cap: $634.29 million

Gray Television, Inc. (NYSE:GTN) describes itself as the largest owner of top-rated local television stations and digital assets in the United States. The company currently owns and operates television stations and leading digital properties in 113 television markets that collectively reach approximately 36% of American TV households.

In the first quarter of 2024, GTN reported a total revenue of $823 million, up 3% from the same quarter last year. The company’s net income attributable to common stockholders was $75 million, a significant improvement compared to a loss of $44 million in the first quarter of 2023. It was reported on the 20th of May that the television broadcasting company intends to offer up to $1 billion worth of senior secured first lien notes due 2029 to qualified institutional buyers.

Among the 23 hedge funds that held shares of GTN at the end of Q4 2023, Darsana Capital Partners boasted the largest stake of over 5.24 million shares, valued at $33.13 million.

Gray Television, Inc. (NYSE:GTN) ranks 3rd in our list of Small-Cap Stocks with Huge Growth Potential.