Haivision Systems And 2 Other TSX Penny Stocks To Consider

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The Canadian market has been flat over the last week, but it has risen 27% over the past year with earnings forecast to grow by 16% annually. In such a climate, identifying stocks with strong financials and growth potential is key, especially when considering penny stocks. While the term "penny stocks" might seem outdated, these smaller or newer companies can offer unique opportunities for investors seeking affordability and potential upside.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

PetroTal (TSX:TAL)

CA$0.65

CA$602.54M

★★★★★★

Alvopetro Energy (TSXV:ALV)

CA$5.02

CA$183.06M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.31

CA$118.61M

★★★★★★

Findev (TSXV:FDI)

CA$0.42

CA$12.03M

★★★★★☆

Winshear Gold (TSXV:WINS)

CA$0.145

CA$5.03M

★★★★★★

Mandalay Resources (TSX:MND)

CA$3.33

CA$314.9M

★★★★★★

Foraco International (TSX:FAR)

CA$2.31

CA$240.57M

★★★★★☆

Amerigo Resources (TSX:ARG)

CA$1.76

CA$293.47M

★★★★★☆

East West Petroleum (TSXV:EW)

CA$0.045

CA$4.07M

★★★★★★

Enterprise Group (TSX:E)

CA$2.24

CA$129.82M

★★★★☆☆

Click here to see the full list of 952 stocks from our TSX Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Haivision Systems

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

Overview: Haivision Systems Inc. offers mission-critical, real-time video networking and visual collaboration solutions across Canada, the United States, and internationally, with a market cap of CA$134.77 million.

Operations: The company generates revenue of CA$135.12 million from its Internet Telephone segment.

Market Cap: CA$134.77M

Haivision Systems Inc., with a market cap of CA$134.77 million, has shown resilience in its financial performance, becoming profitable this year with net income of CA$2.64 million for the nine months ended July 31, 2024. Despite a revenue decline to CA$30.65 million in Q3 from CA$34.95 million the previous year, Haivision's short-term assets comfortably cover both its short and long-term liabilities. The company is actively involved in innovative projects like the Air!5G consortium led by Airbus Defense and Space, highlighting its strategic focus on advanced communication solutions and potential for growth within mission-critical sectors.

TSX:HAI Debt to Equity History and Analysis as at Oct 2024
TSX:HAI Debt to Equity History and Analysis as at Oct 2024

Kraken Robotics

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

Overview: Kraken Robotics Inc. is a marine technology company that designs, manufactures, and sells sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications globally, with a market cap of CA$341.39 million.