5 Best Single Digit Stocks to Buy Right Now

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1. Transocean Ltd. (NYSE:RIG)

Share Price: $6.81

Number of Hedge Fund Holders: 63

Transocean Ltd. (NYSE:RIG) is one of the best single digit stocks to buy right now. On May 6, TD Cowen lifted its price target on Transocean Ltd. (NYSE:RIG) from $5.50 to $6 while keeping a Hold rating on the stock.

The research firm updated its model after what it sees as messy first-quarter results and noted that a second Department of Justice request is continuing to pressure the stock.

The update followed Transocean Ltd.’s (NYSE:RIG) financial results for the first quarter of 2026. The company reported contract drilling revenue of $1.08 billion, helped by strong revenue efficiency of 97.3%. During the quarter, the company also added $1.6 billion in contract backlog with a weighted average dayrate of around $410,000.

Additionally, Transocean Ltd. (NYSE:RIG) reported that it entered into new or extended contracts on five rigs during the quarter, increasing its total backlog to $7.1 billion. This reflects demand for the company’s differentiated assets and includes an implied average dayrate of more than $450,000. The company also said it beat its revenue expectations for the quarter and achieved a strong adjusted EBITDA margin above 40%.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a strong focus on ultra-deepwater and harsh environment drilling services. The company operates the world’s highest specification floating offshore drilling fleet.

While we acknowledge the potential of RIG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIG and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Revenue Growth Stocks to Buy According to Wall Street Analysts and 10 AI Stocks That Are About to Explode.

Disclosure: None.

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