3 of the best cheap UK shares under £3 to buy!

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Triple Point Energy Efficiency Infrastructure Company (LSE: TEEC) is a cheap UK share I’m paying close attention to right now.

Demand for renewable energy stocks like this is shooting higher as the concept of ‘responsible investing’ takes off. It’s a phenomenon I think could underpin strong share price growth as concerns over the climate emergency steadily grow.

TEEC splashes the cash on low-carbon energy projects across the UK. Its most famous investment is perhaps the acquisition of combined heat and power (CHP+) assets on the Isle of Wight. But it’s steadily building its footprint in the field of hydroelectric power too and late last month spent £26.6m to snap up a cluster of water-based power projects in Scotland.

The UK government has put ‘green’ energy at the heart of its industrial strategy for the next decade. And TEEC could be well-placed to capitalise on such political will. However, it’s worth remembering that a changing of the guard in Westminster could have serious ramifications for shares such as this.

A cybersecurity star

Cybercrime is an increasingly-large problem for individuals and companies all over the globe. As a consequence spending to prevent online attacks is going through the roof. Analysts at Researchandmarkets.com think the global security industry will be worth a staggering $539.8bn by 2030. That compares with the $183.3bn it was estimated at last year.

NCC Group (LSE: NCC) is a cheap UK share I’d buy to make money from this booming sector. It’s been no stranger to profits upgrades in recent months. And in early November it described trading since the beginning of October as “solid”.

News that its acquisition of Iron Mountain’s Intellectual Property Management (IPM) business in June is progressing well could help NCCs share price recover after recent heavy weakness. At 231p per share, NCC has basically lost all the gains it accrued during the past 12 months. However, signs of problems with integrating its new unit could conversely see the software business extend its slide.

Virtually brilliant

I invested in Keywords Studios — a provider of software development services — last year to capitalise on the booming video games market. I think motion capture specialist Oxford Metrics (LSE: OMC) could be another way to effectively ride this train. Trading at its Vicon division is extremely strong, thanks to what it describes as a “buoyant” games sector, and in particular the adoption of Virtual Production by various large production studios.

Virtual Production allows developers to go about their business in both the real and digital worlds. It’s complicated and clever stuff, but all I need to know from an investment perspective is that it’s also lucrative business.

Revenues at Oxford Metrics soared almost 18% in the year to September, to £35.6m. I’d buy this cheap UK share despite the threat posed by the high levels of competition in the tech sector it operates in.

The post 3 of the best cheap UK shares under £3 to buy! appeared first on The Motley Fool UK.

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Royston Wild owns shares of Keywords Studios. The Motley Fool UK has recommended Keywords Studios and NCC. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.