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It’s always interesting to look for stocks under $10 to buy. That’s because there are several advantages to having high-quality, inexpensive stocks in your portfolio.
You don’t need to empty your wallet if you want 25 of 50 shares of stock at these prices. And this kind of stock also has the potential to provide huge percentage gains. If you have a stock that costs $7.50 and it goes up by $5, that’s an increase of 66%!
I also like stocks under $10 to buy because they are more likely to be targets of a buyout or takeover. Often these are companies that are newer and have lower market capitalization.
When one of these companies begins indicating high-growth potential, it becomes an enticing takeover target that could be extremely profitable for investors.
These stocks under $10 to buy all have excellent ratings in our Portfolio Grader tool and warrant some consideration now.
Nordic American Tankers (NAT)
If you want to think about a stock with high-growth potential, it would be hard to find something better than Nordic American Tankers (NYSE:NAT).
The Bermuda-based company has ridiculously high profit margins, which makes it one of the best A-rated stocks under $10 that you can buy today.
How profitable? Nordic American is in the crude oil transportation business, using 19 tankers with a cargo lifting capacity of $1 million barrels of oil. Its time charter equivalent rate in the first quarter of 2023 was $51,900 daily, but the company’s operating expense is only $8,000.
The company had a net profit of $46.9 million in the first quarter, which is spectacular for a company with a market cap of less than $800 million.
Shares are up 20% this year and are still less than $4. NAT also provides a dividend yield of better than 17%.
NAT has an “A” rating in the Portfolio Grader.
Evolution Petroleum (EPM)
Evolution Petroleum(NYSEAMERICAN:EPM) is an even smaller company with a market capitalization of less than $300 million.
It trades on the NYSE American exchange, which is primarily for small- and mid-cap stocks.
The company owns and invests in onshore oil and natural gas holdings in the U.S., including Louisiana, Wyoming, Texas and North Dakota.
Shares are up 41% since mid-March and are trading close to the company’s 52-week high, which indicates that it could be gathering for a breakout.
Earnings in the first quarter were outstanding, with revenue of $36.87 million, up more than 43% from the previous year. Earnings per share came in at 42 cents, better than the 33-cent EPS experts expected.
EPM stock is less than $9 and has an “A” rating in the Portfolio Grader.
Direct Digital Holdings (DRCT)
Advertising company Direct Digital Holdings (NASDAQ:DRCT) helps small- and medium-sized businesses reach customers by using an end-t0-end advertising platform to optimize campaigns.
It operates three companies; Colossus SSP is a sell-side platform for advertisers of all sizes. Meanwhile, Huddled Masses and Orange 142 provide services to middle-market advertisers.
Direct Digital generates more than 100 billion impressions per month for its 90,000 clients through the three companies.
The company topped analysts’ expectations for the first quarter, bringing in revenue of $21.22 million and an EPS loss of 7 cents. Wall Street expected $17.05 million and an EPS loss of 8 cents.
Direct Digital is building momentum. The stock is up 24% in 2023, bringing its price to $3 per share. It has an “A” rating in the Portfolio Grader.
Enel Chile (ENIC)
Enel Chile (NYSE:ENIC) is a power generation and distribution company in Chile and is a subsidiary of Enel Group, which operates in 30 countries.
It generates electricity from solar, wind and geothermal power plants.
Chile is making decisive steps toward renewable energy. It aims to have 80% of all power from renewable sources by 2030 and for new vehicle sales to be limited to electric vehicles by 2035.
Even so, Enel Chile is projecting that the country will have a 28% increase in demand for energy by 2030 and that the country has a renewable energy potential of 2 terawatts (TW).
By the end of 2022, the company has installed a capacity of 8.4 gigawatts, with 76% of its energy coming from renewable sources.
It spent the last three years phasing out coal-burning electric generation plans and sped up its transition to renewables.
ENIC stock is up 46% this year, rising to $3.30 per share. It has an “A” rating in the Portfolio Grader.
VirTra (VTSI)
Arizona-based VirTra (NASDAQ:VTSI) provides firearms training simulators and force training for police and military clients.
Using 30-foot wraparound screens, the company’s simulators help users work on de-escalation strategies, use of force, and operating in limited visibility.
It also has a vehicle-based simulator that law enforcement agencies use to help train users, and sells interactive coursework on a subscription basis with content specific to agencies.
It’s been a lucrative business for shareholders in recent months. VTSI stock is up 60% since the beginning of the year. Earnings in the first quarter were just over $10 million, representing a 48.5% increase from the previous year.
VTSI stock has an “A” rating in the Portfolio Grader.
Heritage Global (HGBL)
Based in San Diego, Heritage Global(NASDAQ:HGBL) is an asset services company that facilitates financial and industrial asset transactions for surplus and distressed assets.
It also provides services for market making, acquisitions, dispositions, valuations and secured lending.
The company is ready to step in when a company is struggling and is poised to capitalize. It says that rising consumer spending, accelerating defaults and charge-offs will increase the volume of financial assets to sell, providing additional profits for Heritage Global.
Its argument seems to hold up. Earnings in the first quarter were up 77% to $16.6 million, beating analysts’ expectations of $12.72 million. The company also earned 7 cents per share in EPS.
HGBL stock is up 59% in 2023 and has an “A” rating in the Portfolio Grader.
MamaMancini’s (MMMB)
MamaMancini’s (NASDAQ:MMMB) makes Italian dishes, packages and sells them in grocery stores and convenience stores nationwide.
It says it has more than 45,000 product placements with plant-based meatballs and pasta, spaghetti and chicken meatballs, chicken fettuccini, and sausage and peppers with penne and tomato sauce.
The company’s offerings are usually found in the deli section of grocery stores, as MamaMancini’s says that many grocers are adapting restaurant grab-and-go fresh products.
Financially, the company seems to get stronger. Revenues in fiscal 2023 were $93.2 million, with a gross margin of 20%. But revenue for the first quarter of fiscal 2024 was $23.1 billion with a gross margin of $27.6%.
MMMB stock is up 79% in 2023 and has an “A” rating in the Portfolio Grader.
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