Written by MarketBeat Staff
April 19, 2024
While the stock market has cooled off from the all-time highs of 2020 and 2021, the stock market continues to look expensive compared to historical averages. Historically, companies on the S&P 500 have traded at about 15 times earnings in a more normal market environment. Despite COVID-19, ongoing inflation, political uncertainty, and international strife, the typical S&P 500 company is still trading at about 21 times earnings. Bullish investors are keeping prices higher than they probably should be, and this is making it challenging to find cheap stocks to buy.
While the S&P 500 as a whole is expensive, there are still a handful of undervalued stocks trading at less than $10.00 per share. Value investing opportunities for value exist if you know where to look. Putting together a list of cheap stocks to buy now requires looking into some smaller, riskier, unloved, or undiscovered parts of the market. These low-priced stocks might not look especially attractive today, but long-term investors stand to profit if they are willing to be patient and hold onto shares of these companies through multiple market cycles.
Some of these companies are great investing ideas because they're too small and too risky to attract most mutual funds and Wall Street money managers. Others have been beaten up by the market after a period of slowing earnings and profits but are now trying to turn around and bounce back.
You might find marijuana stocks, dividend-paying stocks, large-cap stocks, growth stocks, small-cap stocks, and even some bitcoin stocks in this list. While these low-priced stocks have many differences, these 10 stock picks all share a common characteristic, a super-low share price of $10.00 or less.
#1 - Intuitive Machines (NASDAQ:LUNR)
Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.
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- Current Stock Price
- $5.20
- P/E Ratio
- 2.1
- Consensus Rating
- Buy
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.25 (135.6% Upside)
#2 - Voyager Therapeutics (NASDAQ:VYGR)
Voyager Therapeutics, Inc, a biotechnology company, focuses on the treatment of gene therapy and neurology diseases. The company's lead clinical candidate is VY-TAU01, an anti-tau antibody program for the treatment of alzheimer's disease. Its product pipeline includes superoxide dismutase 1 silencing gene therapy, which is in preclinical trial for the treatment of amyotrophic lateral sclerosis; tau silencing gene therapy, which is in preclinical trial for the treatment of alzheimer's disease; and vectorized anti-amyloid antibody, a gene therapy targeting anti-amyloid for the treatment of alzheimer's disease and is in preclinical trial.
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- Current Stock Price
- $7.50
- P/E Ratio
- 2.4
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $19.33 (157.8% Upside)
#3 - Arcadium Lithium (NYSE:ALTM)
Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.
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- Current Stock Price
- 3.90
- P/E Ratio
- 2.5
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
#4 - Medallion Financial (NASDAQ:MFIN)
Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.
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- Current Stock Price
- $7.79
- P/E Ratio
- 3.3
- Dividend Yield
- 5.17%
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.00 (54.0% Upside)
#5 - TransAlta (NYSE:TAC)
TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.
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- Current Stock Price
- $6.45
- P/E Ratio
- 3.5
- Dividend Yield
- 2.60%
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
#6 - AG Mortgage Investment Trust (NYSE:MITT)
AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.
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- Current Stock Price
- $5.56
- P/E Ratio
- 3.5
- Dividend Yield
- 13.19%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.25 (30.4% Upside)
#7 - FinVolution Group (NYSE:FINV)
FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.
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- Current Stock Price
- $4.73
- P/E Ratio
- 4.0
- Dividend Yield
- 4.64%
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $5.69 (20.4% Upside)
Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities including, live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.
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- Current Stock Price
- $5.59
- P/E Ratio
- 4.1
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $14.25 (154.9% Upside)
#9 - Commercial Vehicle Group (NASDAQ:CVGI)
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, assembles, and sells systems, assemblies, and components to commercial and electric vehicle, and industrial automation markets in North America, Europe, and the Asia-Pacific regions. The company operates in four segments: Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation.
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- Current Stock Price
- $6.33
- P/E Ratio
- 4.3
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.00 (58.0% Upside)
StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also offers crude oil and natural gas. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.
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- Current Stock Price
- $5.89
- P/E Ratio
- 4.3
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.00 (35.8% Upside)
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