The stock market has largely recovered from its 2022 and 2023 slowdown and continues to hit new all time highs every few months. Right now, the market as a whole looks relatively 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 ongoing inflation, political uncertainty, and international strife, the typical S&P 500 company is still trading at about 25 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 - 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
- $2.89
- P/E Ratio
- 2.8
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $11.00 (280.6% Upside)
#2 - 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
- $3.69
- P/E Ratio
- 2.8
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.00 (171.0% Upside)
#3 - 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
- $6.92
- P/E Ratio
- 4.0
- Dividend Yield
- 11.21%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.00 (15.7% Upside)
Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.
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- Current Stock Price
- $7.82
- P/E Ratio
- 4.4
- Dividend Yield
- 13.29%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 1 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $15.50 (98.2% Upside)
GeoPark Limited engages in the exploration, development, and production of oil and gas reserves in Chile, Colombia, Brazil, Argentina, and Ecuador. GeoPark Limited has a strategic partnership with ONGC Videsh to jointly acquire, invest in, and create value from upstream oil and gas projects across Latin America.
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- Current Stock Price
- $9.29
- P/E Ratio
- 4.6
- Dividend Yield
- 6.60%
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $13.17 (41.7% Upside)
#6 - FinVolution Group (NYSE:FINV)
FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by 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
- $5.51
- P/E Ratio
- 5.1
- Dividend Yield
- 3.75%
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
OPAL Fuels Inc, together with its subsidiaries, engages in the production and distribution of renewable natural gas for use as a vehicle fuel for heavy and medium-duty trucking fleets. It also designs, develops, constructs, operates, and services fueling stations for trucking fleets that use natural gas to displace diesel as transportation fuel.
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- Current Stock Price
- $3.81
- P/E Ratio
- 5.1
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 0 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $8.40 (120.5% Upside)
#8 - Dynagas LNG Partners (NYSE:DLNG)
Dynagas LNG Partners LP, through its subsidiaries, operates in the seaborne transportation industry in Greece and internationally. The company owns and operates liquefied natural gas (LNG) carriers. Its fleet consists of six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters.
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- Current Stock Price
- $3.75
- P/E Ratio
- 5.3
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $4.00 (6.7% Upside)
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Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.
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- Current Stock Price
- $2.16
- P/E Ratio
- 5.4
- Dividend Yield
- 7.97%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2.12 (1.8% Downside)
#10 - 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
- $8.50
- P/E Ratio
- 5.5
- Dividend Yield
- 2.09%
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
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