5 Best Growth Stocks Under $10

2. Nokia Corporation (NYSE: NOK)

Number of Hedge Fund Holders: 21    

Price as of July 21, 2021: $5.85 per share

Nokia Corporation (NYSE: NOK) stock has offered investors returns exceeding 31% over the course of the past year. It is placed second on our list of 10 best growth stocks under $10. The firm operates from Finland and markets mobile and fixed network solutions. On July 19, the company announced that it had won a 10% share in one of the three new 5G contracts that China had awarded. Chinese companies like Huawei and ZTE were awarded the majority of the new 5G contracts by Beijing. 

On July 14, investment advisory JP Morgan upgraded Nokia Corporation (NYSE: NOK) stock to Overweight from Neutral. The price target on the stock was also increased to $7.8 from $4.3, underlining that the recent fiscal guidance increase by Nokia was the start of an upgrade cycle. 

At the end of the first quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $352 million in Nokia Corporation (NYSE: NOK), up from 19 in the previous quarter worth $186 million.