These 5 Stocks Under $10 Are Poised To Explode

In this piece, we will take a look at these 5 stocks under $10 are poised to explode. If you want to read our introduction to these tricky stocks, jump to These Stocks under $10 Are Poised To Explode.

5. Spire Global, Inc. (NYSE:SPIR) 

Share Price as of December 14: $7.52
Share Price Upside Potential: 249.16%
Number of Hedge Funds: 5

Spire Global, Inc. (NYSE:SPIR) is one of the cheap stocks under $10 for anyone eyeing exposure in the industrial sector. Spire Global, Inc. (NYSE:SPIR) provides subscription-based data insights, predictive insights, and related project-based services. It also offers satellite-based aircraft tracking data to power applications and drive decision-making.

Spire Global, Inc. (NYSE:SPIR)’s sentiments have improved in the last quarter of the year after coming under pressure for the first nine months. It is up by more than 100% in the fourth quarter as analysts reiterate a consensus Buy rating with a $25 price target implying 249.16% upside potential.

Insider Monkey’s Q3 2023 survey of 910 hedge funds outlined that 5 had bought Spire Global, Inc. (NYSE:SPIR)’s shares.

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4. Caribou Biosciences, Inc. (NASDAQ:CRBU)

Share Price as of December 14: $6.41
Share Price Upside Potential: 289.38%
Number of Hedge Funds: 21

Caribou Biosciences, Inc. (NASDAQ:CRBU) is a clinical-stage biopharmaceutical company that develops genome-edited allogeneic cell therapies for treating hematologic malignancies and solid tumors. Caribou Biosciences, Inc. (NASDAQ:CRBU)’s lead product candidates are CB-010, an allogeneic anti-CD19 CAR-T cell therapy in phase 1 clinical trial to treat relapsed or refractory B cell non-Hodgkin lymphoma.

Caribou Biosciences, Inc. (NASDAQ:CRBU) has recouped a significant chunk of the losses accrued in the year and is only down by 10%. The consensus rating on Wall Street is a Buy with a $22 price target, implying 289.38% upside potential. According to Insider Monkey’s third-quarter database, 21 hedge funds were long Caribou Biosciences, Inc. (NASDAQ:CRBU), compared to 15 funds in the last quarter.

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3. Aqua Metals Inc. (NASDAQ:AQMS)

Share Price as of December 14: $0.90
Share Price Upside Potential: 330.25%
Number of Hedge Funds: 1

Aqua Metals Inc. (NASDAQ:AQMS) is another cheap stock under $10 poised to explode for diversifying an investment portfolio into the Industrials sector. Aqua Metals Inc. (NASDAQ:AQMS) recycles materials that are essential for making energy storage and electric vehicle products.

The consensus rating on Aqua Metals Inc. (NASDAQ:AQMS) is a Buy with a $4 price target, implying a 330.25% upside potential from current levels. By the end of this year’s third quarter, 1 out of the 910 hedge funds polled by Insider Monkey had owned Aqua Metals Inc. (NASDAQ:AQMS)’s shares.

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2. AST SpaceMobile, Inc. (NASDAQ:ASTS)

Share Price as of December 14: $5.24
Share Price Upside Potential: 351.87%
Number of Hedge Funds: 9

AST SpaceMobile, Inc. (NASDAQ:ASTS) is a technology company and one of the cheap stocks under $10 poised to explode. AST SpaceMobile, Inc. (NASDAQ:ASTS) and its subsidiaries operate a space-based cellular broadband network for mobile phones. 

AST SpaceMobile, Inc. (NASDAQ:ASTS) is up by about 5.3% as it recoups the losses accrued for the rest of the year. The consensus analysts’ ratings on Wall Street are a Buy with a $23 price target, implying a 351.87% upside potential from current levels. The bullishness comes from one of AST SpaceMobile, Inc. (NASDAQ:ASTS)’s insiders, who have raised stakes by 404% over the past 12 months.

Insider Monkey’s Q3 2023 survey of 910 hedge funds outlined that nine had invested in AST SpaceMobile, Inc. (NASDAQ:ASTS).

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1. Anavex Life Sciences Corp. (NASDAQ:AVXL) 

Share Price as of December 14: $8.45
Share Price Upside Potential: 596.52%
Number of Hedge Funds: 9

Anavex Life Sciences Corp. (NASDAQ:AVXL) is a clinical-stage biopharmaceutical company that develops therapeutics for treating central nervous system diseases. Anavex Life Sciences Corp. (NASDAQ:AVXL)’s lead product is Anavex, which is used for the treatment of Alzheimer’s disease, Parkinson’s disease, and other central nervous system illnesses.

While Anavex Life Sciences Corp. (NASDAQ:AVXL) is down by 18%, it commands a consensus Buy rating on Wall Street with a $56 price target, implying a 596.52% upside potential. Anavex Life Sciences Corp. (NASDAQ:AVXL) is one of the stocks under $10 poised to explode, going by its ambitions in developing treatment options for Alzheimer’s.

At the end of the third quarter of 2023, 9 hedge funds from our database held stakes in Anavex Life Sciences Corp. (NASDAQ:AVXL). The total value of these positions amounted to approximately $10.35 million.

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