SPK, PGW, CVT: 3 stocks under $5 to explore in coming weeks

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  • People are tempted to invest in cheaply priced stocks as they are more affordable
  • Spark New Zealand announces changes to its Board
  • PGG Wrightson raises its FY22 operating EBITDA guidance

Several investors who are just making their entry into the stock market and small traders are inclined towards cheap stocks as they are more affordable than their highly priced peers.

Moreover, if invested wisely, investors can make money as prices of these stocks tend to increase over a period of time. Also, if need be, investments in these stocks can be raised if they perform well, thus yielding more returns than the amount already invested.

With this background, let us walk through the three NZX-listed stocks that are priced below $5. Spark New Zealand Limited (NZX:SPK), PGG Wrightson Limited (NZX:PGW) and Comvita Limited (NZX:CVT).

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Spark New Zealand Limited (NZX:SPK; ASX:SPK)

Spark New Zealand Limited is one of the leading telecom providers across the country with more than NZ$8 billion as its market cap.

Related Read: SPK, SUM, GNE: Are these 3 NZX mid-cap stocks worth exploring in 2022?

Recently, the Company disclosed making changes to its Board. Two independent, non-executive directors, Gordon MacLeod and Sheridan Broadbent, have been appointed w.e.f. 1 August. While MacLeod will be a part of the Audit and Risk Management Committee, Broadbent will be a member of the HRCC, i.e., the Human Resources and Compensation Committee.

At the end of the trading session on 17 June, SPK fell1.07% at NZ$4.610.

PGG Wrightson Limited (NZX:PGW)

Operating in the agribusiness sector, PGG Wrightson Limited has a market cap of about NZ$320 million.

Must Read: BFG, MFB, PGW, CVT: A lens on food stocks amid rise in food prices

Owing to solid performances of all its business units in Q3, the Company has lifted its forecasted Operating EBITDA guidance for FY22 to be around NZ$66 million instead of the earlier mentioned NZ$62 million. Moreover, favourable weather conditions have aided robust sales in PGW’s crop inputs and animal health categories.

At the end of the trading session on 17 June, PGW was up 2.83% at NZ$4.360.

Comvita Limited (NZX:CVT)

Comvita Limited is known for procuring world-class honey and related products, having a market cap of NZ$223 million.

Related Read: BGP, CVT, SPK, NWF: 4 attractive NZX stocks for monthly dividend seekers

A few days ago, the Company anticipated its FY22 reported EBITDA to be in a range of NZ$28.5 million to NZ$30.0 million, backed by continuous demand and a resilient business model. Moreover, it expects double-digit growth in its full-year NPAT in comparison to previous year.

At the end of the trading session on 17 June, CVT gained 0.32% at NZ$3.110.

Bottom Line

One should not get tempted by just looking at the stock price; instead, one should thoroughly study fundamentals of the Company and know about the stock performance before making any meaningful investment decision.


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