5 Best Stocks Under $10 in 2022

In this article, we discuss the 5 best stocks under $10 in 2022. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Stocks Under $10 in 2022.

5. Nokia Corporation (NYSE:NOK)

Number of Hedge Funds: 22 

Stock Price as of February 8: $5.69

Nokia Corporation (NYSE:NOK) is a global technology corporation founded in 1865. The company has a broad portfolio of network equipment, software, services, and licensing opportunities.

Nokia Corporation (NYSE:NOK) reported its Q4 2021 results on February 3. Revenue was posted at $7.33 billion and beat the consensus estimate by $54.89 million. Meanwhile, the GAAP EPS of $0.14 beat the consensus estimate of $0.11. In the last year, the stock price of Nokia Corporation (NYSE:NOK) has soared by over 35% and has outperformed the S&P 500 Index, which experienced an increase of under 16% during the same period. For FY22, Nokia Corporation (NYSE:NOK) provided an annual revenue forecast between €22.60 billion and €23.8 billion. Meanwhile, the operating margin is expected to remain around 11% to 13.5%. In addition to this, the Board of Directors approved a dividend per share of €0.08 per share and authorized a share buyback program of €600 million over the next two years.

On December 20, Dominik Olszewski at Morgan Stanley began coverage on Nokia Corporation (NYSE:NOK) with an Overweight rating and a price target of $7.50. The analyst observes that the stock offers a positive risk to reward and is “on the route to recovery” by next year.