12 Best Cheap Stocks to Buy Right Now

10. Strategy Inc (NASDAQ:MSTR)

Upside: 200.00%

Forward P/E: 2.36x

Number of Hedge Fund Holders: 43

Strategy Inc (NASDAQ:MSTR) is one of the Best Cheap Stocks to Buy Right Now.

Strategy, according to an SEC filing, acquired an additional 855 bitcoin (BTC) for $75.3 million (implying an average acquisition price of $87,974) between January 26 and February 1. Just the week prior, from January 20 to 25, Strategy already spent $264.1 million to purchase 2,932 BTC at an average price of $90,061. The company funded both of these purchases through the sale of STRC and MSTR stock in the same period.

This latest batch of purchases would bring the company’s stockpile to 713,502 BTC, with an aggregate cost of $54.26 billion (an average acquisition price of $76,047).

On a separate topic, CNN’s data shows that 15 out of 17 analysts (~88%) covering MSTR have a “Buy” rating on the company, with the remaining two (~12%) having a “Hold” recommendation. The median target price is $445 (with a high of $705), implying an upside of around 200% (401.96% if using the highest estimate).

Note: Between the data gathering date and publication date, the price of MSTR has fallen by ~10.9%. This coincides with a 10.5% drop in Bitcoin prices (from $79,000 to $70,000) over the same period. As such, Bitcoin’s price is now below MSTR’s break-even price/cost of acquisition.

Strategy Inc (NASDAQ:MSTR) is an enterprise analytics and mobility software provider. The company, which was founded by Michael Saylor and Sanjeev Bansal, has adopted Bitcoin as its primary treasury asset.