10 Cheap Stocks Under $10 to Buy Now in 2024

The stock market has largely recovered from its slowdown in 2022 and 2023 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 in the S&P 500 have traded at about 15 times earnings in a more normal market environment. Despite ongoing inflation, political uncertainty, and international unrest, the typical S&P 500 company still trades at about 25 times earnings. Optimistic investors are keeping prices higher than they probably should be, and that makes it difficult to find cheap stocks to buy.

Although the S&P 500 is expensive overall, there are still a handful of undervalued stocks that trade for less than $10.00 per share. Value investing opportunities exist if you know where to look. To compile a list of cheap stocks to buy now, you need to look at some smaller, riskier, less popular, or undiscovered parts of the market. These low-valued stocks may not seem particularly attractive today, but long-term investors can benefit if they are willing to be patient and hold onto these companies’ shares through multiple market cycles.

Some of these companies are great investment ideas because they are too small and too risky to attract most mutual funds and Wall Street money managers. Others have been hit hard by the market after a period of declining revenues and earnings, but are now trying to recover and get back on their feet.

You may 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 have one common trait: a super-low share price of $10.00 or less.

#1 – Commercial Vehicle Group (NASDAQ: CVGI)

Commercial Vehicle Group, Inc., together with its subsidiaries, designs, manufactures, assembles and sells systems, assemblies and components for commercial and electric vehicles and industrial automation in North America, Europe and the Asia-Pacific region. The company operates in four segments: Vehicle Solutions, Electrical Systems, Aftermarket & Accessories and Industrial Automation. Read more

Current share price

3,44 €

P/E

2.6

Consensus assessment

Buy

Rating breakdown

1 Buy rating, 0 Hold rating, 0 Sell rating.

Consensus price target

10,00 € (190.7% upside potential)

#2 – Arcadium Lithium (NYSE:ALTM)

Arcadium Lithium plc is engaged in the production of lithium chemical products in Asia Pacific, North America, Europe, the Middle East, Africa and Latin America. The company provides battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for applications in the electric vehicle, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery and aerospace sectors. Read more

Current share price

$2.80

P/E

2.7

Consensus assessment

Buy

Rating breakdown

1 Buy rating, 0 Hold rating, 0 Sell rating.

Consensus price target

11,00 € (293.6% upside potential)

#3 – AG Mortgage Investment Trust (NYSE:MITT)

AG Mortgage Investment Trust, Inc. is a U.S. residential real estate investment trust. Its investment portfolio includes residential real estate investments, including non-agency loans, agency loans, refinance and distressed loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities. Read more

Current share price

$6.74

P/E

3.9

Dividend yield

10.00%

Consensus assessment

Moderate purchase

Rating breakdown

4 Buy ratings, 1 Hold rating, 0 Sell ratings.

Consensus price target

8,00 € (18.7% upside potential)

StealthGas Inc., together with its subsidiaries, provides marine transportation services to producers and consumers of liquefied petroleum gas (LPG) worldwide. The company’s carriers transport a variety of petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, and ammonia; refined petroleum products such as gasoline, diesel, heating oil and jet fuel; and edible oils and chemicals. Read more

Current share price

$5.83

P/E

4.1

Consensus assessment

Buy

Rating breakdown

1 Buy rating, 0 Hold rating, 0 Sell rating.

Consensus price target

8,00 € (37.2% upside potential)

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider, focusing on investment and asset allocation services to high net worth individuals and corporations in mainland China, Hong Kong and internationally. The company operates through three segments: Wealth Management, Asset Management and Other Services. Read more

Current share price

$7.61

P/E

4.2

Dividend yield

13.53%

Consensus assessment

Moderate purchase

Rating breakdown

1 Buy rating, 1 Hold rating, 0 Sell rating.

Consensus price target

$15.50 (103.8% upside potential)

GeoPark Limited is engaged 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 oil and gas projects across Latin America. Read more

Current share price

$9.09

P/E

4.5

Dividend yield

6.22%

Consensus assessment

Buy

Rating breakdown

3 Buy ratings, 0 Hold ratings, 0 Sell ratings.

Consensus price target

$13.17 (44.8% upside potential)

OPAL Fuels Inc., together with its subsidiaries, is engaged in the production and distribution of renewable natural gas as fuel for heavy- and medium-duty truck fleets. In addition, the company designs, develops, builds, operates and maintains fueling stations for truck fleets that use natural gas as a replacement for diesel as fuel. Read more

Current share price

$3.56

P/E

4.7

Consensus assessment

Moderate purchase

Rating breakdown

5 Buy ratings, 0 Hold ratings, 1 Sell ratings.

Consensus price target

$8.40 (136.0% upside potential)

Companhia Energética de Minas Gerais, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in Brazil. The company generates electricity from renewable energy sources such as hydro, wind, solar and biomass, or from non-renewable sources such as fossil and nuclear fuels. Read more

Current share price

1,94 €

P/E

4.8

Dividend yield

9.35%

Consensus assessment

Moderate purchase

Rating breakdown

2 Buy ratings, 1 Hold rating, 0 Sell ratings.

Consensus price target

$2.12 (9.3% upside potential)

#9 – FinVolution Group (NYSE:FINV)

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that facilitates borrowers at 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. Read more

Current share price

$5.46

P/E

5.0

Dividend yield

4.13%

Consensus assessment

Buy

Rating breakdown

1 Buy rating, 0 Hold rating, 0 Sell rating.

Consensus price target

N/A

10th place – McEwen Mining (NYSE:MUX)

McEwen Mining Inc. is engaged in the exploration, development, production and sale of gold and silver. The company also explores for copper deposits. The company owns 100% of the El Gallo and Fenix ​​​​projects in Mexico and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada. Read more

Current share price

$8.34

P/E

5.1

Consensus assessment

Buy

Rating breakdown

2 Buy ratings, 0 Hold ratings, 0 Sell ratings.

Consensus price target

$13.50 (61.9% upside potential)

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