4 Cheap Stocks to Invest in Today

cheap stocks to invest in - 4 Cheap Stocks to Invest in Today

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Let’s be honest: not everyone has the wherewithal to buy pricey stocks. However, there are cheap stocks to invest in that can give just about anyone a shot at making money in the market. Besides, there are good companies out there with fairly low share prices.

The challenge for traders is to sift through the sea of cheap stocks and separate the best from the rest. This list can point you in the right direction as all of the companies here have sound fundamentals. The four affordable stocks we’ll be touching upon are:

  • Plug Power (NASDAQ:PLUG)
  • Identiv (NASDAQ:INVE)
  • Ovid Therapeutics (NASDAQ:OVID)
  • Vonage (NASDAQ:VG)

After learning about these cheap stocks to invest in, you might even want to take a starter position in one or more of them today. So, let’s see why each of the above made the cut.

Cheap Stocks to Invest In: Plug Power (PLUG)

Cheap Stocks to Invest In: Plug Power (PLUG)

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When it comes to hydrogen fuel cells, Plug Power is among the best-known names out there. The trading volume on PLUG stock is consistently high. And while the shares are cheap, the upward momentum in the stock price is undeniable.

Just as important as the price is the company’s profitability. Currently, Plug Power offers guidance of $20 million in EBITDA for this year. The company also expects to generate a whopping $300 million in gross bookings in 2020.

The interest in electric vehicles could continue to increase as nations like China enforce strict environmental controls. So, if you want a low-cost entryway into the fuel-cell revolution, you’d be hard-pressed to find a more compelling value than PLUG stock.

Identiv (INVE)

Cheap Stocks to Invest In: Identiv (INVE)

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Security technology is a fast-emerging niche of the global economy. Identiv specializes in secure-data systems and support. The INVE stock price is below its pre-pandemic peak, so it’s still trading at a pretty good discount.

Moreover, Identiv is now pivoting to the high-need area of contact tracing. The company’s integrated security and access-control platform, known as Hirsch Velocity Software, just started offering contact-tracing functionality.

Mark Allen, Identiv’s Premises general manager, adds, “While this is useful during the days of COVID-19, it can also be used for other applications, such as seasonal influenza.” The price of INVE stock could, therefore, bounce any time contact tracing demand spikes.

Ovid Therapeutics (OVID)

cheap stocks to invest in Ovid Therapeutics (OVID)

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Many biopharmaceutical-sector stocks are fairly cheap. However, OVID stock stands out because Ovid Therapeutics has a robust pipeline in its quest to identify solutions for neurological disorders. We’ve seen the shares rocket higher in May and traders could repeat that feat very soon.

Very recently, Ovid Therapeutics released highly encouraging results for the company’s Phase 2 Rocket trial with OV101 to treat Fragile X syndrome. The results suggest that OV101 was “well tolerated” for 12 weeks of treatment throughout all three dose cohorts, and no major adverse events were reported. It’s great to know that individuals with Fragile X syndrome experienced a decrease in behavioral and functional symptoms with OV101.

Also encouraging were the initial data from Ovid Therapeutics’s Phase 2 open-label Arcade trial of soticlestat with patients suffering from CDKL5 deficiency disorder and Dup15q syndrome. Soticlestat was well tolerated, and the study indicated for a majority of the patients a reduction in seizure frequency compared to baseline levels. Clearly, a position in OVID stock is an affordable investment you can feel good about.

Vonage (VG)

Cheap stocks to invest in: Vonage (VG)

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VG stock is cheap no matter how you look at it. For one thing, the shares have some catching up to do in order to reclaim their peak level from 2018. If you’d like to find a solid entry point into the cloud-communications market, this stock is as good a choice as any.

Numerous businesses are choosing Vonage as their communications-service provider. Just one example is Next Education, an India-based company offering education solutions. Next Education CEO and Co-founder Beas Dev Ralhan explains, “Due to the COVID-19 crisis, we saw a rapid increase in the need for video solutions — up to 10 million video minutes per day. This called for us to upgrade our existing systems to be able to cater for the increased video traffic.”

Vonage answered that call with Vonage Video API, which supports virtual classroom sessions. Specifically, the platform enables the embedding of video content directly into an existing web platform and mobile app. If Next Education chose Vonage, then perhaps you should choose VG stock as the company’s next-generation data solutions are likely to be in high demand.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarketsFinom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. As of this writing, he did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/06/4-cheap-stocks-to-invest-in-today/.

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