In this article, we will look at the 5 best nano-cap stocks to buy for 2022. If you want to explore similar stocks, you can read 11 Best Nano-Cap Stocks To Buy For 2022.
5. CPS Technologies Corporation (NASDAQ:CPSH)
Market Cap as of October 14: $42.8 Million
Number of Hedge Fund Holders: 4
CPS Technologies Corporation (NASDAQ:CPSH) is a leading provider of advanced material solutions for the transportation, automotive, energy, computing, telecommunication, aerospace, defense, and oil & gas markets. On October 4, CPS Technologies Corporation (NASDAQ:CPSH) announced that it has secured an additional follow-on purchase order of $8.8 million for HybridTech Armor panels from Kinetic Protection, a prime contractor for the U.S. Navy.
As of October 14, CPS Technologies Corporation (NASDAQ:CPSH) is trading at a PE multiple of 11x and has free cash flows of roughly $1.7 million. The company has a trailing twelve-month operating margin of 6.84%. CPS Technologies Corporation (NASDAQ:CPSH) is one of the best micro-cap stocks to buy now.
Hedge funds are initiating positions in CPS Technologies Corporation (NASDAQ:CPSH). At the end of Q2 2022, 4 hedge funds held stakes in CPS Technologies Corporation (NASDAQ:CPSH). The collective stakes of these hedge funds were valued at $538,000. This is compared to 3 positions in the previous quarter with stakes of $715,000.
4. Fusion Fuel Green PLC (NASDAQ:HTOO)
Market Cap as of October 14: $59.4 Million
Number of Hedge Fund Holders: 4
Fusion Fuel Green PLC (NASDAQ:HTOO) is an Ireland-based green hydrogen company. The company provides hydrogen generators to clients that operate green hydrogen plants. Fusion Fuel Green PLC (NASDAQ:HTOO) is expected to benefit from secular growth trends in the green hydrogen space and is positioned to gain value in the foreseeable future. The stock is ranked high among the best micro-cap stocks to buy now.
On August 18, Fusion Fuel Green PLC (NASDAQ:HTOO) announced that it has received confirmation for funding the development of its 6.6-megawatt HEVO-Industria green hydrogen project in Sines from the Portuguese government. The Portuguese government is expected to give the company up to EUR 10 million to develop its green hydrogen project.
On September 22, RBC Capital analyst Erwan Kerouredan took coverage of Fusion Fuel Green PLC (NASDAQ:HTOO) with a Sector Perform rating and a $7 price target. The analyst noted that Fusion Fuel Green PLC (NASDAQ:HTOO) is a pure-play green hydrogen company and has a “differentiated” positioning in the energy transition space.
At the close of Q2 2022, 4 hedge funds were long Fusion Fuel Green PLC (NASDAQ:HTOO) and held stakes worth $15.45 million in the company. As of June 30, MAK Capital One is the leading shareholder in Fusion Fuel Green PLC (NASDAQ:HTOO) and has stakes worth $13.5 million in the company.
3. Zedge, Inc. (NYSE:ZDGE)
Market Cap as of October 14: $32.6 Million
Number of Hedge Fund Holders: 5
Zedge, Inc. (NYSE:ZDGE) is an interactive media and communication services company that provides phone personalization products. The company’s app offers users to personalize their smartphones with ringtones, widgets, wallpapers, and notifications. The company is cash-rich and also utilizes its resources efficiently by way of buy-backs. Zedge, Inc. (NYSE:ZDGE) has free cash flows of over $13 million and on August 16, the company announced that its board of directors has authorized a $1.5 million share buy-back program. Zedge, Inc. (NYSE:ZDGE) has pulled back and is offering investors a chance to rack up shares into weakness. As of October 14, the stock is trading at a PE multiple of 4x.
On September 20, Zedge, Inc. (NYSE:ZDGE) announced that it has added 1,000 of Saregama’s master recordings for ringtones to its platform. Saregama India is one of the largest music archives in the world. On October 3, Maxim analyst Allen Klee revised his price target on Zedge, Inc. (NYSE:ZDGE) to $8 from $13 and maintained a Buy rating on the shares.
At the end of Q2 2022, 5 hedge funds were eager on Zedge, Inc. (NYSE:ZDGE) and held stakes worth $3.06 million in the company. As of June 30, Renaissance Technologies is the largest shareholder in Zedge, Inc. (NASDAQ:ZDGE) and has stakes worth $2.18 million in the company.
2. Lipocine Inc. (NASDAQ:LPCN)
Market Cap as of October 14: $39.8 Million
Number of Hedge Fund Holders: 5
Lipocine Inc. (NASDAQ:LPCN) is a clinical-stage biopharmaceutical company that is involved in the research and development of pharmaceutical products for the treatment of neuroendocrine and metabolic disorders. The company’s flagship product is TLANDO, an oral testosterone replacement therapy. On September 15, Lipocine Inc. (NASDAQ:LPCN) announced that it has received FDA approval for establishing the efficacy of LPCN 1154, an oral neuroactive steroid for the treatment of postpartum depression. The company is profitable and undervalued and is one of the best micro-cap stocks to invest in for 2022. As of October 14, the stock is trading at a PE multiple of 11x and has a trailing twelve-month operating margin of 15.57%.
At the close of the second quarter of 2022, 4 hedge funds held stakes in Lipocine Inc. (NASDAQ:LPCN). The total value of these stakes amounted to $886,000. As of June 30, Marshall Wace LLP is the top shareholder in Lipocine Inc. (NASDAQ:LPCN) and has stakes worth $353,000 in the company.
1. Audacy, Inc. (NYSE:AUD)
Market Cap as of October 14: $48.8 Million
Number of Hedge Fund Holders: 15
Audacy, Inc. (NYSE:AUD) is an American broadcasting company that owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. The stock has been creating a lot of activity on Wall Street and as of October 14, Audacy, Inc. (NYSE:AUD) has a 3-month average volume of over 828,000 and a 10-month average volume of 1.28 million. Audacy, Inc. (NYSE:AUD) is profitable, undervalued, and is ranked among the best micro-cap stocks to buy now. As of October 14, the stock has a trailing twelve-month PE ratio of 11.2 and an operating margin of 8.59%.
Wall Street analysts are positive on Audacy, Inc. (NYSE:AUD). This July, Guggenheim analyst Curry Baker revised his price target on Audacy, Inc. (NYSE:AUD) to $2 from $5 and reiterated a Buy rating on the shares. On August 8, B. Riley analyst Daniel Day revised his price target on Audacy, Inc. (NYSE:AUD) to 50c from $1 and maintained a Neutral rating on the shares.
At the end of Q2 2022, 15 hedge funds disclosed ownership of stakes in Audacy, Inc. (NYSE:AUD). These funds held collective stakes of $20.90 million in the company.
You can also take a look at 11 Best Entertainment Stocks To Buy and Top 10 Healthcare Stocks To Buy.
