10 Cheap Hot Stocks to Buy Now

Published on January 7, 2023 at 12:34 pm by Omer Farooq in Hedge Funds, News

In this article, we will look at the 10 cheap hot stocks to buy now. If you want to explore similar stocks, you can go to 5 Cheap Hot Stocks to Buy Now.

2022 was one of the worst years for the stock market. Supply disruptions, inventory gluts, geopolitical tensions, inflation, tight money, and a lot of other factors caused valuations of some of the biggest companies in the world to go down. Investors became wary and panicky whenever some bad news hit the markets, and triggered massive sell offs. All things concerned, it can be argued that certain businesses with solid fundamentals and compelling long-term growth stories may have been oversold.

“There Are Parts of The Market That Are Not Expensive”

On January 6, Hightower’s chief investment strategist and portfolio manager, Stephanie Link, appeared in an interview on CNBC where she talked about her view of the markets and about the “parts of the market” that “are frothy and expensive” and “parts of the market that are not expensive”. Stephanie Link thinks that “it’s not all gloom and doom” and “there are opportunities in the down draft”. Here are some comments from Stephanie Link:

“It’s not all negative. The dollar’s down 9%, that’s gonna help multinationals. Input costs are definitely falling. Rents are starting to ease a little bit. We have to keep an eye on wages, but that’s the good part for the economy, jobs. And that means consumers hanging in, and by the way wildcard, China reopening, so who knows that even is going to be happening. But it’s not all negative, and so that’s why it is a market of stocks and you have to take advantage of the winners when everybody’s looking for, you know, this is such a negative type of environment.”

Stephanie link noted that “there are definitely parts of the market that still are seeing froth” and that tight money is not good for growth and fixed-income assets. However, Stephanie Link does not see that “the market has to fall tremendously from here” and that “there are areas in the markets that are actually holding up pretty well, and it’s not just energy and financials. It’s industrials, it’s materials, parts of discretionary as well”. Stephanie Link is optimistic about the “other parts of the market and sectors that actually should benefit” as rates tend to move higher or stay higher in the foreseeable future.

We came up with a basket of stocks that have attractive valuations and outperformed the markets in the fourth quarter of 2022. These cheap hot stocks, which include Modine Manufacturing Company (NYSE:MOD), Amkor Technology, Inc. (NASDAQ:AMKR), and Olympic Steel, Inc. (NASDAQ:ZEUS), are currently presenting attractive entry points for investors, and we have discussed them, among others, in detail below.

Image by Sergei Tokmakov Terms.Law from Pixabay

Our Methodology

We screened for stocks that had a trailing twelve-month or forward PE multiple of less than 15, as well as those that gained at least 30% in the fourth quarter of 2022 (we call these stocks “hot” because of this momentum). From the wide majority of companies, we carefully selected stocks that had the lowest PE ratios, the best performance, and positive market sentiment. We have also included analyst ratings, if recent, and the hedge fund sentiment along with our picks. We have ranked these stocks in a descending order of their PE ratios, as of January 6.

Cheap Hot Stocks to Buy Now

10. Myers Industries, Inc. (NYSE:MYE)

PE Ratio as of January 6: 14.92

Performance (Q4 2022): 30.17%

Number of Hedge Fund Holders: 12

Myers Industries, Inc. (NYSE:MYE) is a global manufacturer and distributor of polymer products, agricultural and automotive parts. Headquartered in Akron, Ohio, the company has a strong presence in the agriculture and automotive markets, as well as industrial, consumer, and government markets. The company has a strong focus on innovation, which it believes is key to its success in the markets it serves. Myers Industries, Inc. (NYSE:MYE) is committed to providing the highest quality products and services to its customers.

Myers Industries, Inc. (NYSE:MYE) is one of the best cheap hot stocks to buy now. As of January 6, the stock is trading at a PE multiple of 14.92 and is offering a forward dividend yield of 2.45%. Moreover, the stock gained 30.17% in the fourth quarter of 2022. Myers Industries, Inc. (NYSE:MYE) has a strong cash position and, according to its balance sheet, the company has an FCF of $60.9 million.

At the end of Q3 2022, 12 hedge funds disclosed positions in Myers Industries, Inc. (NYSE:MYE). These funds held collective stakes of $85.9 million in the company. As of September 30, Mario Gabelli’s GAMCO Investors is the largest shareholder in the company and has a position worth $52.3 million.

Some of the best cheap hot stocks to buy right now include Modine Manufacturing Company (NYSE:MOD), Amkor Technology, Inc. (NASDAQ:AMKR), and Olympic Steel, Inc. (NASDAQ:ZEUS).

9. Vector Group Ltd. (NYSE:VGR)

PE Ratio as of January 6: 13.75

Performance (Q4 2022): 33.30%

Number of Hedge Fund Holders: 16

Vector Group Ltd. (NYSE:VGR) is a leading American tobacco company. In addition to making cigarettes, the company also manages a real estate investment business. Vector Group Ltd. (NYSE:VGR) was held by 16 elite money managers that disclosed collective positions worth $91.6 million in the company, at the end of Q3 2022.

Vector Group Ltd. (NYSE:VGR) is another cash-rich company that is committed to returning cash to shareholders. The company has free cash flows of $261.7 million and is offering a forward dividend yield of 6.51% to shareholders, as of January 6.

Vector Group Ltd. (NYSE:VGR) returned 33.30% to investors in the fourth quarter of 2022. The stock is currently trading at bargain levels and is presenting an attractive buying opportunity for investors looking for cheap hot stocks. As of January 6, the stock is trading at a PE multiple of 13x.

As of September 30, Jim Simons’ Renaissance Technologies is the leading shareholder in Vector Group Ltd. (NYSE:VGR) and has a position worth $68.9 million.

8. The ODP Corporation (NYSE:ODP)

PE Ratio as of January 6: 13.52

Performance (Q4 2022): 32.19%

Number of Hedge Fund Holders: 35

The ODP Corporation (NYSE:ODP) is a leading provider of business services, products and digital workplace solutions for SMEs. As of September 30, HG Vora Capital Management is the dominant investor in The ODP Corporation (NYSE:ODP) and has disclosed a position worth $175.75 million in the company.

On November 2, The ODP Corporation (NYSE:ODP) announced a $1 billion share repurchase program that is expected to reach completion by the end of 2025. The ODP Corporation (NYSE:ODP) is a cheap hot stock that investors should not overlook. As of January 6, the stock is trading at a TTM PE ratio of 13.52. The ODP Corporation (NYSE:ODP) gained 32.19% in the fourth quarter of 2022.

On January 6, The ODP Corporation (NYSE:ODP) announced a strategic collaboration with Indian IT company, HCLTech, by which HCLTech will provide end-to-end IT solutions for the company’s business.

At the close of the third quarter of 2022, 35 hedge funds were bullish on The ODP Corporation (NYSE:ODP) and held collective stakes of $477.4 million in the company.

7. CNH Industrial N.V. (NYSE:CNHI)

PE Ratio as of January 6: 12.63

Performance (Q4 2022): 32.19%

Number of Hedge Fund Holders: 28

CNH Industrial N.V. (NYSE:CNHI) is a global leader in the manufacturing of agricultural, construction, and commercial vehicles. The company has a strong focus on innovation and technology, investing in research and development to ensure their products are efficient and reliable. The company also believes in sustainability, aiming to reduce its environmental footprint through efficient production processes and the use of renewable energy sources.

For investors in search for a good cheap hot stock, CNH Industrial N.V. (NYSE:CNHI) presents a decent value proposition. As of January 6, the stock is trading at a PE multiple of 12x. Moreover, the stock posted gains of over 32% in the fourth quarter of 2022.

On December 20, Credit Suisse analyst Jamie Cook started coverage of CNH Industrial N.V. (NYSE:CNHI) with an Outperform rating and a $21 price target.

CNH Industrial N.V. (NYSE:CNHI) was spotted on 28 investors’ portfolios at the end of Q3 2022. These funds held collective positions worth $755 million in the company. As of September 30, Harris Associates is the top investor in the company.

6. Tecnoglass Inc. (NASDAQ:TGLS)

PE Ratio as of January 6: 11.85

Performance (Q4 2022): 34.21%

Number of Hedge Fund Holders: 15

Tecnoglass Inc. (NASDAQ:TGLS) is a leading manufacturer and distributor of architectural glass, windows, and associated products for the construction industry. In the fourth quarter of 2022, Tecnoglass Inc. (NASDAQ:TGLS) returned over 34% to investors and, as of January 6, the stock has a trailing twelve-month PE ratio of 11.85. Tecnoglass Inc. (NASDAQ:TGLS) is the sixth cheapest hot stock to buy now in this list.

On December 2, B. Riley analyst Alex Rygiel raised his price target on Tecnoglass Inc. (NASDAQ:TGLS) to $40 from $38 and reiterated a Buy rating on the shares.

On December 7, Tecnoglass Inc. (NYSE:TGLS) declared a quarterly cash dividend of $0.075 per share. The dividend is payable on January 31 to stockholders of record on December 30. As of January 6, the stock is offering a forward dividend yield of 0.97%.

At the close of Q3 2022, Tecnoglass Inc. (NASDAQ:TGLS) was spotted on 15 money managers’ portfolios that disclosed collective positions worth $81.75 million in the company. Of those, Portolan Capital Management was the most prominent shareholder in the company and held a position worth $23 million.

Like Modine Manufacturing Company (NYSE:MOD), Amkor Technology, Inc. (NASDAQ:AMKR), and Olympic Steel, Inc. (NASDAQ:ZEUS), Tecnoglass Inc. (NASDAQ:TGLS) is presenting an attractive entry point for investors that are on the lookout for cheap hot stocks.

Click to continue reading and see 5 Cheap Hot Stocks to Buy Now.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on May 1, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up