The tech stocks prove to be quite profitable. While the energy stocks tumble down, techs are surging forward, gaining more and more ground. Apple and Microsoft rose last week along with the Dow, the S&P 500, and the Nasdaq, all of which hit the new record highs.
However, those stocks, which are trading under $10, can be more volatile than high priced tech futures. Even so, if chosen wisely, investors could gain hefty profits from such stocks. Here are three of them, which the experts dubbed as strong buys.
Mitek Systems, Inc. MITK
This company utilizes artificial intelligence and machine learning to help various enterprises and financial institutions verify a user’s identity during digital transactions. More than 6,500 organizations worldwide embedded Mitek Systems solutions into the apps. And over 80 million consumers use them to perform tasks such as mobile check deposit.
MITK shares have surged 185% in the past five years. According to experts, the stock may rise by 21.4% to $0.51 per share on 18.3% higher revenues in 2020. Furthermore, they expect a 15% top and bottom-line growth next year. The stock trades at $9.67 per share at present.
Orion Energy Systems, Inc. OESX
The company makes high quality LED lighting products. Its turnkey energy project solutions, which feature controls and integrated IoT capabilities, are very popular with some enterprise customers.
Orion Energy Systems third-quarter fiscal 2020 revenue surged forward by 110%. At present, the company is actively expanding its sales team to go after other large accounts throughout the U.S. Long-term, analysts expect OESX’s fiscal 2020 revenue will climb 135% from $66 million to $155 million. Its current price is $5.74 per share.
Pixelworks, Inc. PXLW
This stock is trading at $4.48 per share for now. Pixelworks works on smartphones, tablets, OTA streaming devices, as well as digital projection systems. It also provides custom application-specific integrated circuits solutions, software, and visual display processing semiconductors.
The firm’s earnings estimates rose by 8% during the last quarter. Its sales are expected to rise by 9% and 15%, respectively, in 2020 and 2021.