While you typically get what you pay for, sometimes, you can get more (in a good way), thus putting a positive spotlight on the these bargain stocks under $10 to buy. Yes, to be completely upfront, these ideas present higher risks than say your typical blue-chip consumer goods manufacturer. But they also offer enormous upside potential, making them worthy for speculative potshots.

In addition, what makes these cheap stocks to buy now so enticing is that they may enable contrarians to have their cake and eat it too. Each of the names featured below command excellent growth statistics. At the same time, they’re undervalued and enjoy fiscal stability. Admittedly, when something sounds too good to be true, it usually is. However, as circumstances stand now, these enterprises have the stats to back up their underlying optimistic narrative. With that, below are the affordable stocks with growth potential to consider.

Evolution Petroleum (EPM)

Headquartered in Houston, Texas, Evolution Petroleum (NYSEAMERICAN:EPM) is an oil and gas company focused on delivering a sustainable dividend yield to its shareholders through the ownership, management and development of producing oil and gas properties, per its corporate profile. It specifically focuses on onshore projects in the U.S. Since the beginning of this year, EPM gained a very healthy 17% of equity value.

Still, EPM appears enticing as one of the stocks under $10 to buy because there may be more room to run. Specifically, shares trade at a trailing-year multiple of 5.51. As a discount to earnings, Evolution ranks better than 62.22% of its peers. That’s the case even with significant net income expansion. From the fiscal year ended June 2020 to fiscal 2022, net income expanded from $5.9 million to $32.6 million.

As well, Evolution prints impressive operational metrics. Its three-year revenue growth rate on a per-share basis clocks in at 35.9%, outflanking 87.79% of its peers. Also, its EBITDA growth rate during the same period is 25.2%, above 63.58%. Thus, EPM makes a compelling case for cheap stocks to buy now.

Innovative Solutions and Support (ISSC)

Based in Malvern, Pennsylvania, Innovative Solutions and Support (NASDAQ:ISSC) is a systems integrator that designs and manufactures flight guidance and cockpit display systems for original equipment manufacturers (OEMs) and retrofit applications. Further, the company supplies integrated flight management systems, auto-throttle systems and advanced GPS receivers. However, ISSC represents one of the riskier stocks under $10 to buy, shedding 15% since the Jan. opener.

Though volatile, what makes Innovative Solutions appealing is its wide addressable market. With avionics technologies that suit both commercial and military applications, the company may benefit from increased demand due to social and economic normalization trends. As for the defense front, escalating geopolitical tensions seems to shine on ISSC. Thus, it offers a valid case for affordable stocks with growth potential.

In addition, Innovative delivers impressive operational stats. For example, its three-year revenue growth rate comes in at 15.7%, outflanking 82% of companies listed in the aerospace and defense industry. Also, its EBITDA growth rate during the same period impresses at 55.4%, above 94.25% of rivals. Priced at under seven bucks, ISSC could be one of the low-cost high return stocks.

SIGA Technologies (SIGA)

A commercial-stage pharmaceutical company, SIGA Technologies (NASDAQ:SIGA) focuses on the health security market. Per its public profile, Siga comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market). Given the heightened language in the geopolitical front, the latter solution might not be so fantastical. Also, Siga specializes in vaccines and therapies for emerging infectious diseases, another obviously relevant capability.

Priced at $5.45, SIGA represents a high-risk, high-reward venture among stocks under $10 to buy. Even more challenging, since the start of the year, SIGA gave up more than 22% of equity value. And in the trailing one-year period, it fell nearly 49%. Not surprisingly, then, Gurufocus labels Siga a possible value trap.

Still, for those willing to take the risk, Siga features excellent strengths in the balance sheet. In particular, its cash-to-debt ratio clocks in at 215.42 times, above 88.86% of its peers. Also, its Altman Z-Score lands at 12.8, indicating extremely low risk of bankruptcy. While it appears that Siga enjoys strong operational stats, in the first quarter of 2023, its sales slipped 21% year-over-year. That said, should outbreaks like monkeypox materialize, SIGA could rocket higher as one of the bargain stocks under $10.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.