In this article, we discuss the 11 best one dollar stocks to buy today.
High-risk securities with a small market capitalization, such as those that trade in and around the one dollar mark, have seen high trading volumes in the past few months, largely because of retail investor interest. These growth stocks may attract even more attention in the next few weeks as a new variant of COVID-19 fuels uncertainty at the market and investors patiently wait for the outcome of a Federal Reserve meeting. Business Insider reports that on December 14, the Dow Jones slipped 0.05%, the S&P 500 fell 0.22%, and the Nasdaq dipped 0.53%.
Even though institutional investors may be more inclined towards finding safe haven in value equities through the upcoming storm, the spending patterns of retail investors would suggest that cheap high-growth options will continue to attract the Reddit crowd, regardless of the macroeconomic environment. In 2020, many of these retail investors got their start at the market during the COVID-19 lockdowns to wade off “boredom”. As the threat of another lockdown looms, these investors are likely to invest in the market with renewed focus.
Interest in cheaper growth options has also grown because companies like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Alphabet Inc. (NASDAQ:GOOG) have reached valuations that many analysts term “unsustainable”.
In late September, Michael Burry, of The Big Short fame, said that the recent rally in tech growth stocks reminded him of the “dotcom bubble”. He further compared the options-trading frenzy to the rampant speculation before the Great Depression.
The spread of the new virus variant has ramifications for the global economy. The seven-day moving average of virus cases in the United Kingdom has reached the highest level since July 2020, the peak of the virus crisis. Asian stocks are down as well, with Japanese Prime Minister Fumio Kishida hinting at the introduction of guidelines to companies on share buybacks. The concern around the meeting of the Federal Reserve has also pushed the prices of cryptocurrencies lower, with Bitcoin dropping close to 3%.
Investors who want to profit from this slowdown could pick up growth stocks on the cheap, using the market shift towards value plays in their favor. Cathie Wood, one of the most popular growth investors, has already doubled down on her bets on high growth options even as other hedge fund managers load up on safer options. One of the best ways of gaining exposure to the stock market is through investments in cheap growth stocks. Some of the best one dollar equities in this regard are discussed below.
Our Methodology
The companies that were priced around $1 per share, as of December 14, were preferred for the list. The upcoming growth catalysts of the stocks were also considered. In order to provide readers with some context for their investment choices, the business fundamentals and analyst ratings for the stocks were are mentioned as well.
Readers are provided with exclusive hedge fund sentiment data too. The hedge fund sentiment around each stock was calculated using the data of 867 hedge funds tracked by Insider Monkey.
Best One Dollar Stocks to Buy Today
11. Baosheng Media Group Holdings Limited (NASDAQ:BAOS)
Number of Hedge Fund Holders: 1
Real-Time Share Price as of December 14: $1.09
Baosheng Media Group Holdings Limited (NASDAQ:BAOS) is an online marketing solutions provider. The firm acts as a bridge between advertisers and online media firms. Some of the services it provides include strategies, budget, and choice of advertising channels.
In September, Baosheng Media Group Holdings Limited (NASDAQ:BAOS) announced that it had signed key partnerships with the e-commerce, real estate, automobile, gaming, education, finance and healthcare industries to expand mobile marketing capabilities.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Baosheng Media Group Holdings Limited (NASDAQ:BAOS) with 22,354 shares worth more than $39,000.
At the end of the third quarter of 2021, 1 hedge fund in the database of Insider Monkey held stakes worth $39,000 in Baosheng Media Group Holdings Limited (NASDAQ:BAOS).
Just like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Alphabet Inc. (NASDAQ:GOOG), Baosheng Media Group Holdings Limited (NASDAQ:BAOS) is one of the stocks on the radar of growth investors.
10. Professional Diversity Network, Inc. (NASDAQ:IPDN)
Number of Hedge Fund Holders: 1
Real-Time Share Price as of December 14: $1.00
Professional Diversity Network, Inc. (NASDAQ:IPDN) provides online professional networking services. Some of these services include recruitment, corporate membership, hiring campaign marketing, and e-newsletters, among others.
Professional Diversity Network, Inc. (NASDAQ:IPDN) has a market cap of $16 million and posted more than $4 million in revenue last year. The company is based in Chicago and was founded in 2003.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Professional Diversity Network, Inc. (NASDAQ:IPDN) with 18,433 shares worth more than $23,000.
At the end of the third quarter of 2021, 1 hedge fund in the database of Insider Monkey held stakes worth $23,000 in Professional Diversity Network, Inc. (NASDAQ:IPDN), compared to 2 the preceding quarter worth $82,000.
9. NanoVibronix, Inc. (NASDAQ:NAOV)
Number of Hedge Fund Holders: 2
Real-Time Share Price as of December 14: $1.06
NanoVibronix, Inc. (NASDAQ:NAOV) makes and sells healthcare devices. On October 11, the share price of the firm jumped over 18% after it announced positive results for an ultrasound device in relation to a pain study.
In earnings results for the third quarter, posted on November 16, NanoVibronix, Inc. (NASDAQ:NAOV) reported a revenue of $0.49 million, up 226% compared to the revenue over the same period last year.
At the end of the third quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $105,000 in NanoVibronix, Inc. (NASDAQ:NAOV), compared to 3 the preceding quarter worth $175,000.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in NanoVibronix, Inc. (NASDAQ:NAOV) with 40,824 shares worth more than $84,000.
8. MICT, Inc. (NASDAQ:MICT)
Number of Hedge Fund Holders: 2
Real-Time Share Price as of December 14: $1.00
MICT, Inc. (NASDAQ:MICT) markets mobile computing devices and software. It also owns and runs a proprietary technology platform that provides services related to equities trading and the sale of insurance products.
Alliance Global Partners analyst Brian Kinstlinger recently maintained a Buy rating on MICT, Inc. (NASDAQ:MICT) stock with a price target of $4.25, noting the firm could benefit from the fallout of a regulatory crackdown in China.
At the end of the third quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $94,000 in MICT, Inc. (NASDAQ:MICT), compared to 3 the preceding quarter worth $2.9 million.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in MICT, Inc. (NASDAQ:MICT) with 44,551 shares worth more than $69,000.
7. Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)
Number of Hedge Fund Holders: 3
Real-Time Share Price as of December 14: $1.64
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) makes and sells psychedelic medicines. The stock is expected to grow along with the wider acceptance of psychedelics for the treatment of mind-related disorders as well as innovations within the field in the coming months and years.
In August, HC Wainwright analyst Patrick Trucchio initiated coverage of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) stock with a Buy rating and a price target of $10. In an investor note, the analyst said that a key LSD product of the firm had “multi-blockbuster potential”.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) with 1.3 million shares worth more than $3.2 million.
6. Profire Energy, Inc. (NASDAQ:PFIE)
Number of Hedge Fund Holders: 4
Real-Time Share Price as of December 14: $1.00
Profire Energy, Inc. (NASDAQ:PFIE) is a technology company based in Utah. On September 16, the company announced a share repurchase program worth $2 million that would commence from the middle of October. The firm has plans in place to expand into the aerospace, power generation, and chemical processing industries in the coming years.
Profire Energy, Inc. (NASDAQ:PFIE) posted earnings for the third quarter on November 3, reporting a revenue of close to $7 million, up more than 72% compared to the revenue over the same period last year and beating estimates by $1.3 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Royce & Associates is a leading shareholder in Profire Energy, Inc. (NASDAQ:PFIE) with 2 million shares worth more than $2.3 million.
At the end of the third quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $4.7 million in Profire Energy, Inc. (NASDAQ:PFIE), compared to 5 in the previous quarter worth $4.8 million.
Alongside Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Alphabet Inc. (NASDAQ:GOOG), Profire Energy, Inc. (NASDAQ:PFIE) is one of the stocks attracting the attention of elite investors.
5. Avenue Therapeutics, Inc. (NASDAQ:ATXI)
Number of Hedge Fund Holders: 4
Real-Time Share Price as of December 14: $1.00
Avenue Therapeutics, Inc. (NASDAQ:ATXI) is a specialty pharma firm that focuses on the development of products for intensive care. One of the leading product candidates for the firm is intravenous Tramadol, a treatment for moderate to moderately severe postoperative pain.
Roth Capital analyst Scott Henry has a Buy rating on Avenue Therapeutics, Inc. (NASDAQ:ATXI) stock with a price target of $5. In a recent investor note, the analyst cited regulatory progress with regards to a key pipeline drug for the firm as a “positive”.
At the end of the third quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $360,000 in Avenue Therapeutics, Inc. (NASDAQ:ATXI), compared to 3 in the previous quarter worth $456,000.
4. SeaChange International, Inc. (NASDAQ:SEAC)
Number of Hedge Fund Holders: 4
Real-Time Share Price as of December 14: $1.72
SeaChange International, Inc. (NASDAQ:SEAC) provides video products and services. In August, the company had announced that it had built a premium streaming service to broadcast a variety of Israeli channels and content outside the country.
SeaChange International, Inc. (NASDAQ:SEAC) stock has more than doubled in the past few days after reports emerged that the company was planning to merge with Triller, a direct social media rival of the popular TikTok platform.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Two Sigma Advisors is a leading shareholder in SeaChange International, Inc. (NASDAQ:SEAC) with 764,190 shares worth more than $810,000.
3. Dynatronics Corporation (NASDAQ:DYNT)
Number of Hedge Fund Holders: 5
Real-Time Share Price as of December 14: $1.09
Dynatronics Corporation (NASDAQ:DYNT) operates as a medical device company. The firm exports products to over 30 countries around the globe. It was founded in 1979 and is headquartered in Minnesota.
Dynatronics Corporation (NASDAQ:DYNT) sells products related to physical therapy, rehabilitation, orthopedics, pain management, and athletic training. The company has a market cap of $20 million.
At the end of the third quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $1.7 million in Dynatronics Corporation (NASDAQ:DYNT), up from 2 in the preceding quarter worth $898,000.
2. Savara Inc. (NASDAQ:SVRA)
Number of Hedge Fund Holders: 9
Real-Time Share Price as of December 14: $1.09
Savara Inc. (NASDAQ:SVRA) is a biotech firm based in Texas. In June, the firm had revealed that the first patient had been dosed in a late-stage trial of the drug molgramostim in patients with autoimmune pulmonary alveolar proteinosis, a rare lung disease.
Savara Inc. (NASDAQ:SVRA) posted earnings for the third quarter in early November, beating analyst estimates on earnings per share by $0.02. The cash, cash equivalents, and short-term investments at the end of September stood at around $171 million.
At the end of the third quarter of 2021, 9 hedge funds in the database of Insider Monkey held stakes worth $22 million in Savara Inc. (NASDAQ:SVRA), compared to 12 in the preceding quarter worth $28 million.
1. Ardelyx, Inc. (NASDAQ:ARDX)
Number of Hedge Fund Holders: 10
Real-Time Share Price as of December 14: $1.37
Ardelyx, Inc. (NASDAQ:ARDX) is a biopharma firm that concentrates on the development of medicines for the treatment of kidney and cardiorenal diseases. The stock has surged by over 95% in the past week after the firm announced plans to launch Ibsrela, a treatment for irritable bowel syndrome with constipation, in the second quarter of 2022.
Citi analyst Yigal Nochomovitz recently raised the price target on Ardelyx, Inc. (NASDAQ:ARDX) stock to $13 from $7 and kept a Buy rating, noting the development of pipeline drugs of the firm and a decision to launch products independently from 2022.
At the end of the third quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $6.3 million in Ardelyx, Inc. (NASDAQ:ARDX), compared to 20 in the preceding quarter worth $241 million.
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Disclosure. None. 11 Best One Dollar Stocks to Buy Today is originally published on Insider Monkey.
