5 Cheap Hot Stocks to Buy Now

4. Titan Machinery Inc. (NASDAQ:TITN)

PE Ratio as of January 6: 8.56

Performance (Q4 2022): 34.68%

Number of Hedge Fund Holders: 18

Titan Machinery Inc. (NASDAQ:TITN) provides a wide variety of agricultural and construction machinery, parts, and service to customers in the United States and Europe. The company operates as a network of full–service agricultural and construction equipment stores and dealerships throughout the United States and Europe. 

For investors looking for cheap hot stocks, Titan Machinery Inc. (NASDAQ:TITN) is worth considering. The stock gained over 34% in the fourth quarter of 2022 and, as of January 6, is trading at a TTM PE ratio of 8.56.

On December 13, B. Riley analyst Alex Rygiel took coverage of Titan Machinery Inc. (NASDAQ:TITN) with a Buy rating and a $48 price target.

At the close of the third quarter of 2022, Titan Machinery Inc. (NASDAQ:TITN) was a part of 18 investors’ portfolios that held collective stakes of $63.6 million in the company. Of those, ACK Asset Management was the largest investor in the company and disclosed a position worth $18.9 million.