Cheap stocks Vaalco Energy, Yiren Digital and Linkbancorp headline Tuesday's Screen Of The Day from Investor's Business Daily.
Tuesday's picks come from the IBD Stock Screener's Fastest Growing EPS list in the Under $10 screens, which finds cheap stocks that have huge profit growth.
Cheap Stocks To Watch
Houston-based Vaalco Energy is engaged in the production, development and acquisition of oil and natural gas properties in West and North Africa and Western Canada.
Shares are building a cup base that offers a 7.50 buy point, according to IBD MarketSurge chart analysis.
Vaalco's second-quarter results are due Aug. 6. Wall Street expects the company to earn 14 cents per share on revenue of $122.8 million. Those are year-over-year increases of 23% and 12%, respectively. Looking ahead, Vaalco's full-year outlook is for EPS of 81 cents, a 31% increase vs. one year ago.
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China-based Yiren Digital provides loans, insurance and other financial service through an artificial-intelligence-powered platform.
Yiren stock is building an irregular consolidation with a 5.80 buy point. But shares gave up their 50-day line in recent weeks, while the relative strength line is also trending lower.
In 2023, the company saw its annual profit increase 67% to $3.32 per share. FactSet did not provide any annual or quarterly estimates for the cheap stock.
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Bank Stock Hits Sell Signal
Finally, Linkbancorp, a Pennsylvania-based holding company for Gratz Bank, made the screen of highest profit gains, with a three-year EPS growth rate of 89%.
The stock tried to break out past a 7.48 double-bottom entry in recent sessions. But shares triggered the 7% loss rule Tuesday, as they declined 9% below that buy trigger.
On Monday, the company missed Q2 earnings and sales estimates, earning 17 cents per share on revenue of $26.35 million. It was expected to earn 18 cents on sales of $27.79 million.
For 2024, the bank's annual earnings are expected to jump 200% to 75 cents per share, rebounding from a decline of 57% in 2023.
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on Arm stock, other best stocks to buy and watch and the Dow Jones Industrial Average.
