5 Best Growth Stocks Under $10

3. Infinera Corporation (NASDAQ: INFN)

Number of Hedge Fund Holders: 20

Price as of July 21, 2021: $9.37 per share       

Infinera Corporation (NASDAQ: INFN) is a firm that markets optical transport networking equipment. It is ranked third on our list of 10 best growth stocks under $10. The company’s shares have returned 32% to investors over the past year. On May 4, the firm posted earnings for the first three months of 2021, reporting earnings per share of -$0.03, beating market estimates by $0.03. The revenue over the period was more than $331 million, up 0.2% year-on-year and beating market estimates by $0.42 million. 

On May 13, investment advisory Wolfe Research upgraded Infinera Corporation (NASDAQ: INFN) stock to Peer Perform from Underperform with a price target of $10. Jeff Kvaal, an analyst at the firm, identified the firm as a leader in the optical transmission industry. 

Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Oaktree Capital Management is a leading shareholder in the firm with 25.1 million shares worth more than $242 million.