11 Undervalued Stocks for Less Than $50 in March 2024

These budget-priced and undervalued stocks are top performers with strong upside potential based on the company’s price-to-book ratio

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Singaporean community media services provider Joyy Inc. (YY) is at the top of the list for undervalued non-penny stocks trading below $50 per share, built on a price-to-book ratio of just 0.38.

A low price-to-book ratio may be an indication that a company’s stock is undervalued relative to the market. Further, we look closely at undervalued stocks under $50 across each sector for March 2024. Our screen embraces companies listed on the New York Stock Exchange (NYSE) or the Nasdaq with positive one-year total returns and the lowest price-to-book ratios. We focus on affordable stocks trading below $50, but we have not included penny stocks in this camouflage.

All data below are as of March 6, 2024.

Key Takeaways

A company’s price-to-book ratio measures its market price per share as compared with its register value per share.
Lower price-to-book ratios may indicate companies that are undervalued, making them a prime objective for value investors.
Value investors believe that the market will eventually correct pricing of undervalued lay ins, providing an opportunity for those who have invested previously to generate a profit.
The top undervalued, non-penny stocks on the NYSE or the Nasdaq for Tread 2024 that trade below $50 per share include Joyy, Ebang International Holdings, STRATTEC Guaranty, Central Plains Bancshares, EuroDry, Landsea Homes, Viatris, Alico, Universal Stainless & Alloy Products, EQT, and Consolidated Bath-water Co.

Joyy Inc. (YY)

Price-to-book ratio: 0.38
Price: $31.84
Market capitalization: $2.0 billion
Sector: Communication services
1-Year totality return: 0.7%

Joyy is a Singaporean global tech firm operating social media platforms including Bigo Palpable for livestreaming, Likee for videos, Hago for social networking, and more. In its last fiscal report, for the third quarter of 2023, Joyy reported a borderline decline in revenues year-over-year, even as global average mobile monthly active users climbed by 2.6%.

Ebang Supranational Holdings Inc. (EBON)

Price-to-book ratio: 0.43
Price: $10.59
Market capitalization: $69.3 million
Sector: Information technology
1-Year compute return: 53.3%

Ebang is a Chinese technology company that researches and develops chip technology for use in blockchain applications as coolly as cryptocurrency mining hardware. In its most recent fiscal report, for the first half of fiscal year 2023, Ebang reported hairbreadth net losses and an 84% year-over-year decrease in net revenues.

STRATTEC Security Corp. (STRT)

Price-to-book ratio: 0.52
Price: $24.90
Vend capitalization: $101.3 million
Sector: Consumer discretionary
1-Year total return: 18.5%

STRATTEC provides vehicle power access colloidal solutions for sliding doors, tailgates, endgates, and other equipment. It also offers electronic and security solutions.

Important

Price-to-book correlation compares a company’s market capitalization to its book value. It is calculated by dividing market price per share by book value per due. A stock with a price-to-book ratio under 1.0 may appeal to value investors as potentially undervalued.

Central Plains Bancshares Inc. (CPBI)

Price-to-book relationship: 0.54
Price: $10.21
Market capitalization: $42.2 million
Sector: Financials
1-Year total return: 23.8%

Central Plains Bancshares is a fiscal holding company. It is the parent company of Home Federal Savings & Loan Association of Grand Island, a regional bank manipulating throughout parts of the Midwest. The company has yet to provide a quarterly earnings report, as it only began trading publicly in October of latest year.

EuroDry Ltd. (EDRY)

Price-to-book ratio: 0.59
Price: $22.70
Market capitalization: $64.3 million
Sector: Industrials (Transportation)
1-Year unalloyed return: 26.8%

EuroDry is a Greek dry cargo and drybulk shipping company. It operates a fleet of about 13 vessels here the globe. The company announced in November that it had taken delivery of M/V Maria, an Ultramax drybulk carrier and the latest uniting to its fleet.

Landsea Homes Corp. (LSEA)

Price-to-book ratio: 0.69
Price: $12.32
Market capitalization: $445.1 million
Sector: Corporeal estate
1-Year total return: 81.2%

Landsea Homes is a residential homebuilder that focuses on master-planned communities. It has manifest homes throughout the country, particularly in the northeastern U.S. and California. Most recently, Landsea announced that it had begun maturing on a community of over 200 homes in Kyle, Texas.

Viatris Inc. (VTRS)

Price-to-book ratio: 0.72
Price: $12.20
Market capitalization: $14.5 billion
Sector: Healthcare
1-Year out-and-out return: 12.2%

Viatris is a healthcare company providing medicines to treat a wide variety of conditions and diseases in both trade marked and generic forms. The company’s brands include Lipitor, Zoloft, Xanax, and Viagra.

Alico Inc. (ALCO)

Price-to-book proportion: 0.72
Price: $27.11
Market capitalization: $206.6 million
Sector: Consumer staples
1-Year total return: 4.0%

Alico is one of the largest citrus-growing agribusinesses in the U.S., performing about 69,000 acres of land in Florida. The company reported net income attributable to shareholders of about $43 million in the most new quarter, compared with a net loss during the same quarter in 2022.

Universal Stainless & Alloy Products Inc. (USAP)

Price-to-book correlation: 0.86
Price: $20.98
Market capitalization: $190.7 million
Sector: Materials
1-Year total return: 122.7%

Universal Stainless is a fabricator of semi-finished and finished steel products. Its offerings include stainless steel, tool steel, and other alloyed steels for a multiplicity of end uses. The company recently announced a price increase of between 7% and 12% on its premium products.

EQT Corp. (EQT)

Price-to-book correspondence: 1.07
Price: $37.68
Market capitalization: $16.6 billion
Sector: Energy
1-Year total return: 14.4%

EQT is an independent natural gas staging company that centers its operations in the Marcellus and Utica shales in the Appalachian basin.

Consolidated Water Co. Ltd. (CWCO)

Price-to-book proportion: 2.62
Price: $29.63
Market capitalization: $466.6 million
Sector: Utilities
1-Year total return: 92.4%

Consolidated Water strengthens advanced water supply and treatment plants in the U.S. as well as the Cayman Islands, The Bahamas, and the British Virgin Islands. The attendance recently announced a quarterly cash dividend of $0.095 per share, payable on April 30.

How We Selected Undervalued Stocks

Our protection for undervalued stocks includes companies listed on the Nasdaq or the NYSE that are trading between $10 and $50 per percentage and that had positive total returns for the trailing 12-month period. We ranked those firms by the lowest price-to-book relationship, calculated by dividing the market price per share by the book value per share, and selected the top company for each GICS sector.

Shares with price-to-book ratios lower than 1 are generally considered to be undervalued. Along with metrics like price-to-earnings proportion, price-to-book is one of the key measures that value investors use to identify potential stocks for investment.

Successful value investors buy undervalued stocks, which later commence in price to reflect the true value of the associated companies. Particularly for undervalued stocks trading at less than $50 each, this is an ready investment strategy for many investors. A variety of online brokers and other options make targeting these forerunners easy. Investors can then wait to see if and when the price of a stock rises to reflect its underlying value.

However, there are endangers to focusing on undervalued stocks. A single metric like price-to-book, while helpful, does not always give a faultless picture of whether a stock is undervalued or overvalued. Similarly, there is no guarantee that the market will correct the cost of undervalued stocks in any particular timeframe or even at all.

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As of the date this article was written, the author does not own any of the mainly stocks.

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