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12 Cheap NASDAQ Stocks To Buy

In this piece, we will take a look at the 12 cheap NASDAQ stocks to buy. To skip our overview of one of the world’s largest stock exchanges and some recent financial news, read 5 Cheap NASDAQ Stocks To Buy.

Stocks markets have been taking a hammering over the past couple of years amid a flurry of negative events, including Russian’s invasion of Ukraine, rising inflation, a surge in interest rates, among other factors. However, a surge in market and industry hype surrounding artificial intelligence proved to be a boon for big technology companies in 2023. Since all of these are traded on the NASDAQ exchange, the H1 2023 technology stock surge led to the NASDAQ 100 appreciating by 40% during the time period, for its best performance in history.

However, as investors were left scratching their heads and booking their gains after the strong performance, the second half of the year saw stock market and economic turbulence return. This was primarily in the form of multiple economic reports that provided a diverging set of indicators about the Federal Reserve’s future interest rate decision making. The American economy continued to grow during the second and first quarters of 2023, and while during normal times this would be a beneficial stock market development, 2023 saw investors worry that it provided the central bank with more leeway to hike interest rates. At the same time, while inflation started to slow down, the labor market continued to remain robust.

The latest inflation report released November 14 boosted investor’ hopes that the Fed might be done with its rate-hike spree. All eyes right now are on the Fed’s December huddle, and more than 90.2% of investors part of the financial services firm CME Group Inc. (NASDAQ:CME)’s Fed Watch tool believe that interest rates will be kept at current levels.

Therefore, it appears that as we exit 2023, the stock market is looking to end a rough year on a positive note. Analysts at Bank of America charted the growth in valuations of the Technology Select Sector SPDR Fund (NYSE:XLK), a $47.3 billion fund that tracks the performance of the S&P500 index’s technology sector, with the broader S&P500 index to show that the fund has gained 47% since the release of ChatGPT. This significantly outpaces the S&P500’s 18% gain during the same time period to mirror the peak of the dot-com bubble and the bull market of the 1960s.

Based on these factors, it appears that now would be the right time to get into the NASDAQ. This is particularly true since a tight economy often depresses stocks and reduces their valuations even though they might be fundamentally unwarranted. Consequently, we took a look at some cheap NASDAQ stocks to buy and the top picks are AMC Networks Inc. (NASDAQ:AMCX), CommScope Holding Company, Inc. (NASDAQ:COMM), and Brighthouse Financial, Inc. (NASDAQ:BHF).

Our Methodology

To compile our list of cheap NASDAQ stocks to buy, we first compiled a list of 40 companies with market capitalization greater than $300 million and low price to forward earnings ratios. Then, they were ranked by the P/E ratios and the top cheap NASDAQ stocks to buy are as follows.

Cheap NASDAQ Stocks To Buy

12. American Airlines Group Inc. (NASDAQ:AAL)

Forward Price To Earnings Ratio: 4.06

Number of Hedge Fund Investors In Q2 2023: 35

American Airlines Group Inc. (NASDAQ:AAL) is one of the largest airlines in the world with more than nine hundred aircraft in its portfolio. These days it is aiming to boost its revenue from the frequent flier program, and the firm intends to target under served routes within the U.S. as a strategy.

After digging through 910 hedge funds for their second quarter of 2023 investments, Insider Monkey discovered that 35 had held a stake in American Airlines Group Inc. (NASDAQ:AAL). Jim Simons’ Renaissance Technologies owns the largest stake among these, which is worth $306 million.

Just like CommScope Holding Company, Inc. (NASDAQ:COMM), AMC Networks Inc. (NASDAQ:AMCX), and Brighthouse Financial, Inc. (NASDAQ:BHF), American Airlines Group Inc. (NASDAQ:AAL) is a cheap NASDAQ stock to buy.

11. Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Forward Price To Earnings Ratio: 3.83

Number of Hedge Fund Investors In Q2 2023: 11

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) is an American software company that serves the needs of business customers. Like other cloud technology providers, it is also focusing on AI and the firm announced a new platform in August 2023 to automate patient data collection from fax messages.

During June 2023, 11 out of the 910 hedge funds polled by Insider Monkey were the firm’s investors. Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)’s biggest hedge fund shareholder is Jeffrey Gates’ Gates Capital Management as it owns 1.7 million shares that are worth $54.8 million.

10. AGNC Investment Corp. (NASDAQ:AGNC)

Forward Price To Earnings Ratio: 3.77

Number of Hedge Fund Investors In Q2 2023: 18

AGNC Investment Corp. (NASDAQ:AGNC) is a real estate investment trust that invests in residential properties. The firm’s third quarter results saw its economic return for the quarter stand at -10.1% on the back of a drop in book value per share.

For their second quarter of 2023 investments, 18 among the 910 hedge funds tracked by Insider Monkey had held AGNC Investment Corp. (NASDAQ:AGNC)’s shares. Ken Griffin’s Citadel Investment Group owns the largest stake among these as it owns a $34.7 million stake.

9. United Airlines Holdings, Inc. (NASDAQ:UAL)

Forward Price To Earnings Ratio: 3.68

Number of Hedge Fund Investors In Q2 2023: 40

United Airlines Holdings, Inc. (NASDAQ:UAL) is an American airline with more than a hundred thousand employees. The firm has been capitalizing on the travel sector’s post COVID recovery well as it has beaten analyst EPS estimates in all four of its latest quarters.

By the end of this year’s second quarter, 40 hedge funds out of the 910 polled by Insider Monkey had invested in the company. United Airlines Holdings, Inc. (NASDAQ:UAL)’s biggest hedge fund shareholder is Ken Griffin’s Citadel Investment Group courtesy of its $272 million investment that comes via 4.9 million shares.

8. Canadian Solar Inc. (NASDAQ:CSIQ)

Forward Price To Earnings Ratio: 3.57

Number of Hedge Fund Investors In Q2 2023: 16

Canadian Solar Inc. (NASDAQ:CSIQ) is an energy products provider that sells solar panels and other associated products. It is currently expanding its U.S. manufacturing footprint and plans to invest $800 million solar panel factory in Indiana for this purpose.

For their June quarter of 2023 shareholdings, 16 out of the 910 hedge funds part of Insider Monkey’s research had bought and invested in Canadian Solar Inc. (NASDAQ:CSIQ). Ken Griffin’s Citadel Investment Group owns the largest stake out of these, which is worth $56 million.

7. Qifu Technology, Inc. (NASDAQ:QFIN)

Forward Price To Earnings Ratio: 3.52

Number of Hedge Fund Investors In Q2 2023: 11

Qifu Technology, Inc. (NASDAQ:QFIN) is a Chinese financial services company that connects borrowers with lenders. It’s the first stock on our list that is rated Strong Buy on average, and analysts have set an average share price target of $24.38.

Out of the 910 hedge funds part of Insider Monkey’s second quarter of 2023 database, 11 had held a stake in the financial services company. Qifu Technology, Inc. (NASDAQ:QFIN)’s biggest hedge fund investor is Richard Li’s OLP Capital as it owns $221 million worth of shares.

6. Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Forward Price To Earnings Ratio: 3.47

Number of Hedge Fund Investors In Q2 2023: 21

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) is a small pharmaceutical company that develops drugs for severe pain that require opioid use. Its shares are also rated Strong Buy on average, and the firm’s third quarter results saw it post an 8% annual growth and a strong $20 million net income growth over the year ago quarter’s $0.5 million.

After sifting through 910 hedge fund portfolios for their Q2 2023 shareholdings, Insider Monkey discovered 21 Collegium Pharmaceutical, Inc. (NASDAQ:COLL) investors. David Rosen’s Rubric Capital Management owns the largest stake among these which is worth $73.5 million.

AMC Networks Inc. (NASDAQ:AMCX), Collegium Pharmaceutical, Inc. (NASDAQ:COLL), CommScope Holding Company, Inc. (NASDAQ:COMM), and Brighthouse Financial, Inc. (NASDAQ:BHF) are some cheap NASDAQ stocks to buy.

Click here to continue reading and check out 5 Cheap NASDAQ Stocks To Buy.

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Disclosure: None. 12 Cheap NASDAQ Stocks To Buy is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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Buy This $3 Stock Now Before the 400% Surge Begins

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

Since March 2017, my stock picks have returned 16.5% annually. Today, I’ve found an opportunity even bigger than my British American Tobacco call.

Two years ago, Wall Street wrote off British American Tobacco (BTI) as a “melting ice cube.” The stock had crashed 40% from its peak, and consensus said the business was dying.

We looked under the cover and realized they were wrong.

We alerted our subscribers, and BTI returned 90% in just 16 months.

Now if you had invested just $10,000 in BTI in June 2024, you’d be sitting on $19,000 in October 2025.

Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

While the market panics over a surface-level revenue decline, our PhD-led research shows management has actually surgically cut $100 million in waste to focus on high-margin growth.

This pattern is a hallmark of our 16.5% annual return track record. The current opportunity offers a 400% upside potential—dwarfing even our 90% BTI return.

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