5 Hot Stocks to Buy Trading Under $10 With Gigantic Upside Potential
While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy. Many of the biggest public companies, especially the technology giants, trade in the hundreds, all the way up to over $1,000 per share or more. At those steep prices, it is pretty hard to get any decent share count leverage.
Many investors, especially more aggressive traders, look at lower-priced stocks as a way to not only make some good money but to get a higher share count. That can really help the decision-making process, especially when you are on to a winner, as you can always sell half and keep half.
Each week we screen our 24/7 Wall St. research database looking for stocks rated Buy at major firms and priced under the $10 level. This week we found five new stocks that could provide investors with some solid upside potential.
While more suited for aggressive investors, and with the number of new traders skyrocketing over the past year and making good ideas to trade even harder to find, these could prove exciting additions for traders looking for solid alpha potential. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Charah Solutions
This stock had a parabolic move higher and looks poised for a continued run. Charah Solutions Inc. (NASDAQ: CHRA) is the largest coal ash management company in the United States, with nearly 11% of the market. The company provides a complete line of services to the coal-fired electric utility industry, including landfill construction, fly ash processing and marketing, and ash pond management. Charah mainly assists the coal-fired power gen industry, although it is starting to provide routine maintenance and modification services for nuclear-powered utilities.
The shares recently had a big move after it secured a Dominion Energy contract from 2021 through 2032 to transport up to 8.1 million tons of coal ash at its Chesterfield Power Station to cement kiln feed markets.
The environmental services company said it will install processing and transportation infrastructure in 2021 to facilitate rail transportation of the ash to cement kiln feed markets in the eastern United States for more than 10 years and also to help supply the growing demand for concrete in the construction industry.
Stifel has a $7 price target on the shares. That compares with a $6.00 Wall Street consensus target. The stock has leveled off just above $4.
Source: Read Full Article