5 Best Stocks Under $10 to Buy Right Now

3. Nokia Corporation (NYSE: NOK)

Number of Hedge Fund Holders: 21

Nokia Corporation (NYSE: NOK) is a provider of mobile and fixed network solutions across the globe. The company has four segments: Mobile Networks, Network Infrastructure, Cloud, and Network Services. It ranks 3rd on our list of the best stocks under $10 to buy right now.

This June, Goldman Sachs upgraded Nokia Corporation (NYSE: NOK) to Buy with a $6.5 price target in light of an improvement in spending on 5G. Analyst Alexander Duval commented that despite underperformance in the past, there is progress in the company’s wireless products and share gain potential. Nokia Corporation (NYSE: NOK) along with others also achieved a 5G distance record of over 10 km this June as well. In the first quarter of 2021, Nokia Corporation (NYSE: NOK) had an EPS of $0.08, beating estimates by $0.08, while its revenue was $6.16 billion, up 14.36% year over year and beating estimates by $397.63 million. The company has a gross profit margin of 39.69% and the stock has gained 33.42% in the past 6 months and 38.56% year to date.

By the end of the first quarter of 2021, 21 hedge funds out of the 866 tracked by Insider Monkey held stakes in Nokia Corporation (NYSE: NOK). The total value of their stakes was roughly $352 million. This is compared to 19 hedge fund holders in the previous quarter with a total stake value of about $186 million.