In a market characterized by uncertainty and volatility, the allure of under-$20 stocks with the potential for explosive returns sounds appealing. While these stocks might not always be in the limelight, their strategic positioning makes them intriguing options for investors who are looking to capitalize on industries. This article sheds light on 3 Best Stocks to Buy Right Now for those seeking financial growth!
1. Enel Chile: ENIC Stock
Headquartered in Chile, Enel Chile S.A. (ENIC:NYE) is a prominent electricity utility company. It generates and distributes electricity in Chile through various channels like thermal, wind or solar power plants. The company has been operational since 2016.
Enel Chile’s Strategic Plans:
Enel Chile is expected to reap significant rewards from its long-term strategic initiatives. As the energy sector undergoes a major transition towards decarbonization, Enel Chile’s portfolio optimization efforts are aligning effortlessly with this trend. With a focus on flexibility in its energy mix, the company is actively adapting to the shifting trends of the energy transition scenario in the public and private sectors.
Moreover, Enel Chile’s authorization for over 1 gigawatt of renewable projects as well as, the substantial addition of 0.8 terawatt hours of renewable production in recent months shows its commitment. By participating in electrification and decarbonization efforts, the company is not only enhancing its environmental profile but also contributing to improved financial performance.
The company is committed to providing cleaner energy consumption by replacing wooden stoves with effective air conditioners in order to reduce CO2 emissions in the atmosphere. Such efficient steps taken show the company’s dedication to not only improve its financial earnings result but pay attention to the environment as well.
ENIC Stock Forecast:
The current price of ENIC stock is USD 3.21. The average analyst target is USD 3.73 with an upside potential of 16.30%. The company has a market CAP of USD 4.45 Billion. (ENIC:NYE) experienced a growth of 42.67% in year-to-date capital gain value within the industry.
ENIC stock is underpriced compared to its peers and has had a positive cash flow in the recent 4 quarters. It also showed superior earnings growth in the past 5 years but it is highly volatile. Its low market capitalization shows it to be less stable. The analysts view the stock as bullish and rate it “Buy.”
2. Coda Octopus: CODA Stock
Headquartered in Florida since 1994, Coda Octopus Group Inc. (CODA:NSD) emerges as a compelling investment option due to its emphasis on developing and selling underwater technology solutions.
The company’s commitment to innovation reflects in its development of cutting-edge products like the Echoscope PIPE and Diver Augmented Vision Display (DAVD). The company is beginning to gradually rise in the defense market with these offerings. R&D is now shifted to the DAVD technological system for the US Navy showcasing the company’s ability to adapt to an evolving market.
Coda Octopus is dedicated to fulfilling the demand for advanced underwater technology as defense entities increasingly recognize its value. With its underwater communication technology, enhanced video modules, and real-time 3D imaging sonar technology, the company is addressing a critical requirement for defense underwater vehicle programs.
Although CODA stock underperformed in the past quarters, we expect the revenue to go higher considering the recent effective steps it is following. Hence, it is one of the best stocks to buy right now.
CODA Stock Forecast:
CODA stock has a current price of USD 7.59 while the average analyst target price is USD 12.00. This shows an upside potential of 58.10%. The market CAP of Coda Octopus is USD 0.08 Billion. The year-to-date capital gain value of (CODA:NSD) showed a growth of 10.64% within the industry.
CODA stock is highly volatile and is overpriced compared to its peers in the sector. However, it offered a positive cash flow and a good return on assets from the past 4 quarters. The analysts view the stock as slightly bullish and rate it a “Moderate Buy”.
3. Oncolytics Biotech: ONCY Stock
Oncolytics Biotech Inc. (ONCY:NSD) is based in Canada and has been operational since 1998. It is a biopharmaceutical company that develops different pharma products to treat metastatic breast cancer and pancreatic cancer.
The company’s recent positive results from the BRACELET-1 trial in HR-positive and HER2-negative showcase its potential to revolutionize cancer treatment. The innovative exploration of pelareorep in combination with CAR T-cell therapy has given a more promising cure for cancer. This further shows Oncolytic’s commitment to develop into a strong clinical foundation.
Furthermore, the development of vapor formulations, emulsions, and research efforts with BAT makes the company an attractive partner for potential collaborations. It is extending its beneficial impact on the oncology landscape. Therefore, it is one of the best stocks to buy right now.
ONCY Stock Forecast:
The average analyst target price of ONCY stock is USD 7.00 with a current price of USD 2.19. This shows a huge upside potential of 219.63%. Oncolytics Biotech has a market CAP of USD 0.14 Billion. The year-to-date capital gain value of (ONCY:NSD) showed a 34.36% growth within the industry.
ONCY stock has high volatility and is overpriced as compared to its peers. Moreover, it offered a negative cash flow in the past 4 quarters. The analysts view the stock to be bearish and rate it as a “Strong Buy.”
The Takeaway:
While the market’s uncertainty gives rise to caution, these best under-$20 stocks to buy have a great potential for remarkable returns. They present an opportunity for strategic investment. Enel Chile’s adaptability to energy transition trends, Coda Octopus’s underwater technology solutions, and Oncolytics Biotech’s innovative cancer treatments collectively highlight the diversity and potential of these stocks. As investors think about their investment decisions, these three stocks stand out as the best stocks under $20 in the financial market.
