UK Penny Stocks To Watch In October 2024

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The United Kingdom market has shown a steady upward trend, climbing 1.1% in the last week and 12% over the past year, with earnings expected to grow by 14% annually in the coming years. For investors interested in smaller or newer companies, penny stocks—despite their somewhat outdated name—can still present valuable opportunities. With strong financial health, these stocks have the potential to offer growth at lower price points while maintaining greater stability.

Top 10 Penny Stocks In The United Kingdom

Name

Share Price

Market Cap

Financial Health Rating

ME Group International (LSE:MEGP)

£2.055

£796.84M

★★★★★★

Next 15 Group (AIM:NFG)

£4.245

£433.13M

★★★★☆☆

FRP Advisory Group (AIM:FRP)

£1.355

£324.93M

★★★★★★

Brickability Group (AIM:BRCK)

£0.605

£193.31M

★★★★★★

Supreme (AIM:SUP)

£1.52

£181.33M

★★★★★★

Stelrad Group (LSE:SRAD)

£1.505

£191.03M

★★★★★☆

Luceco (LSE:LUCE)

£1.638

£246.15M

★★★★★☆

Serabi Gold (AIM:SRB)

£0.845

£65.13M

★★★★★★

Tristel (AIM:TSTL)

£3.725

£188.22M

★★★★★★

Integrated Diagnostics Holdings (LSE:IDHC)

$0.42

$265.67M

★★★★★★

Click here to see the full list of 465 stocks from our UK Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Alphawave IP Group

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Alphawave IP Group plc develops and sells connectivity solutions across various global regions, including North America, China, and Europe, with a market cap of £755.40 million.

Operations: The company generates $225.52 million in revenue from its communications equipment segment.

Market Cap: £755.4M

Alphawave IP Group's recent developments, including the launch of a 3nm UCIe Die-to-Die IP subsystem in collaboration with TSMC, underscore its focus on high-performance computing and AI applications. Despite generating US$90.98 million in H1 2024 sales, the company remains unprofitable with a net loss of US$39.96 million. The management team is experienced, and while shareholders faced dilution last year, Alphawave maintains a satisfactory net debt to equity ratio of 32.2%. Short-term liabilities exceed assets; however, it has more than three years' cash runway even as free cash flow shrinks annually by 9.7%.

LSE:AWE Debt to Equity History and Analysis as at Oct 2024
LSE:AWE Debt to Equity History and Analysis as at Oct 2024

Baltic Classifieds Group

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Baltic Classifieds Group PLC operates online classifieds portals for automotive, real estate, jobs and services, and general merchandise in Estonia, Latvia, and Lithuania with a market cap of £1.57 billion.