October 2024 US Penny Stocks To Watch

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As the U.S. stock market navigates a landscape marked by rising Treasury yields and fluctuating indices, investors are keeping a close eye on potential opportunities. For those exploring beyond established giants, penny stocks—despite their somewhat antiquated name—remain an intriguing segment for investment consideration. These stocks often represent smaller or newer companies that can offer growth potential at lower price points, especially when backed by strong balance sheets and solid fundamentals.

Top 10 Penny Stocks In The United States

Name

Share Price

Market Cap

Financial Health Rating

BAB (OTCPK:BABB)

$0.786075

$5.8M

★★★★★★

RLX Technology (NYSE:RLX)

$1.63

$2.06B

★★★★★★

LexinFintech Holdings (NasdaqGS:LX)

$3.33

$517.9M

★★★★★★

ARC Document Solutions (NYSE:ARC)

$3.42

$147.91M

★★★★★★

Permianville Royalty Trust (NYSE:PVL)

$1.57

$51.81M

★★★★★★

Golden Growers Cooperative (OTCPK:GGRO.U)

$4.50

$69.71M

★★★★★★

ZTEST Electronics (OTCPK:ZTST.F)

$0.21

$8.33M

★★★★★★

Imperial Petroleum (NasdaqCM:IMPP)

$3.75

$114.35M

★★★★★★

Better Choice (NYSEAM:BTTR)

$1.96

$3.11M

★★★★★★

CBAK Energy Technology (NasdaqCM:CBAT)

$1.07

$98.03M

★★★★★☆

Click here to see the full list of 755 stocks from our US Penny Stocks screener.

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

Navitas Semiconductor

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

Overview: Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits and related technologies for power conversion and charging, with a market cap of approximately $469.65 million.

Operations: The company generates revenue primarily from its semiconductors segment, totaling $91.68 million.

Market Cap: $469.65M

Navitas Semiconductor, with a market cap of approximately US$469.65 million, has been actively expanding its product offerings in the semiconductor sector. Recent announcements include the GaNSlim? and GaNSafe families, targeting high-power applications like AI data centers and EV charging. Despite generating US$91.68 million in revenue primarily from its semiconductor segment, Navitas remains unprofitable with a negative return on equity of -13.16%. The company has no debt and sufficient cash runway for over two years but faces challenges with significant insider selling and shareholder dilution over the past year while earnings are forecasted to decline by 7.8% annually for the next three years.