When a stock hits a fresh low, it can either signal a dirt cheap dream stock or a dreadful stock to avoid. Separating the wheat from the chaff is difficult, but finding well-run companies at bargain-basement prices is a great way to accumulate a fortune over the long run.

With that in mind, we'll use the aggregate intelligence of the 125,000-plus investors participating in Motley Fool CAPS to see what the community is saying about stocks hitting 52-week lows today. The community's approval (signified by four- and five-star ratings) could indicate that further research is in order.

Here are three such stocks:

Company

Today’s Intraday Price

Industry

CAPS Rating (out of 5)

Fools Saying Outperform

Nokia Corp (ADR) (NYSE:NOK)

$9.96

Communications Equipment

4 Stars

2337 of 2505

Actuant Corp (NYSE:ATU)

$11.46

Machinery

5 Stars

549 of 553

St. Mary Land & Exploration Co. (NYSE:SM)

$14.29

Oil, Gas and Consumable Fuels

4 Stars

283 of 292

Source: Motley Fool CAPS, as of Feb. 24, 2009.

Top-rated communications equipment companies:

  • InterDigital, Inc. (NASDAQ:IDCC): Stock price is 64% higher than last year.
  • Airvana, Inc. (NASDAQ Oth: AIRV): Stock price is 10% higher than last year.

Join us on CAPS to learn more about these and countless other interesting stock ideas.