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.
Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.
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- Current Stock Price
- $3.73
- P/E Ratio
- 1.6
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.00 (141.3% Upside)
#2 - Gray Television (NYSE:GTN)
Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.
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- Current Stock Price
- $4.27
- P/E Ratio
- 2.8
- Dividend Yield
- 7.49%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $6.67 (56.1% 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
- $6.83
- P/E Ratio
- 3.0
- Dividend Yield
- 11.13%
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.00 (17.1% Upside)
Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.
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- Current Stock Price
- $5.69
- P/E Ratio
- 3.3
- Dividend Yield
- 28.46%
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.00 (58.2% Upside)
#5 - Seanergy Maritime (NASDAQ:SHIP)
Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.
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- Current Stock Price
- $8.08
- P/E Ratio
- 3.5
- Dividend Yield
- 12.38%
- Consensus Rating
- Strong Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.50 (54.7% Upside)
Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.
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- Current Stock Price
- $5.30
- P/E Ratio
- 3.8
- Dividend Yield
- 6.43%
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.67 (139.0% Upside)
#7 - McEwen Mining (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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- Current Stock Price
- $8.36
- P/E Ratio
- 3.8
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $15.63 (86.9% Upside)
IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.
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- Current Stock Price
- $5.50
- P/E Ratio
- 4.3
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.68 (21.5% Upside)
#9 - Safe Bulkers (NYSE:SB)
Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.
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- Current Stock Price
- $3.87
- P/E Ratio
- 4.3
- Dividend Yield
- 5.17%
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.00 (55.0% Upside)
#10 - Amplify Energy (NYSE:AMPY)
Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.
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- Current Stock Price
- $6.71
- P/E Ratio
- 4.4
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.00 (49.0% Upside)
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