A small company’s stock that trades for less than $5 per share is commonly referred to as a “penny stock.” Although some penny stocks are traded on significant exchanges like the New York Stock Exchange (NYSE), the majority are traded over-the-counter (O.T.C.) using either the privately held O.T.C. Markets Group or the electronic O.T.C. Bulletin Board (O.T.C.B.B.). O.T.C. trades don’t take place on a trading floor. Additionally, all quotations are generated digitally.
There isn’t a single benchmark for penny stocks. Companies from all sectors and industries are included in penny stocks. Small-cap equities are the norm for these companies, so the Russell 2000 Index of small-cap stocks can be a helpful, if not completely accurate, indicator of performance.
Best Stocks To Buy Or Watch in 2023
- Eli Lilly
- Enphase Energy
- Neurocrine Biosciences
- Wolfspeed
- Ormat Technologies
Let’s examine the top penny stocks for 2023:
| Company (ticker) | % Below All-Time High |
|---|---|
| Asbury Automotive Group Inc. (ABG) | 35% |
| United Microelectronics Corporation (UMC) | 50% |
| Builders FirstSource, Inc. (BLDR) | 40% |
| TopBuild Corp. (BLD) | 40% |
| TFI International Inc. (TFII) | 23% |
| Saia, Inc. (SAIA) | 50% |
| Deckers Outdoor (DECK) | 30% |
| Pool Corporation (POOL) | 45% |
| Entegris, Inc. (ENTG) | 47% |
Top 3 Best Small-Cap Stock Values
1. Advanced Materials by Rayonier Inc.
Rayonier Advanced Materials company sells cellulose-based goods, light-weight paperboard, bulky pulp for consumer goods, hardwood and softwood fibers, and associated goods.
2. Prentice-Hall Inc.
Pitney Bowes provides mailing and shipping services. It provides organizations with logistics, financial services, and technological products. Among its services are domestic parcel delivery and digital delivery. Pitney Bowes announced on June 21 that Global-e Online Ltd. (G.L.B.E.), a provider of international services, will buy Pitney Bowes’ international e-commerce division. Pitney Bowes will offer Global-e cross-border logistics services as part of the companies’ relationship. About $100 million will be paid by Global-e for Pitney Bowes’ international operations.
3. Inc. B.G.C. Partners
Brokerage and financial technology firm B.G.C. Partners. It provides brokerage services for stocks, commodities, energy, corporate bonds, equities, and more. Jason W. Hauf has been appointed by B.G.C. as a chief financial officer (C.F.O.), with effect from June 6. Steven Bisgay, who is still Cantor Fitzgerald, L.P.’s executive managing director, and C.F.O., is succeeded by Hauf. Hauf most recently served as Exos Technology & Financial Partners’ managing director and C.F.O.
3 Most Rapidly Increasing Penny Stocks
These are the best penny stocks according to a growth model that scores businesses based on quarterly YOY percentage revenue growth and quarterly YOY earnings-per-share (EPS) growth. The success of a corporation depends on both sales and profits. As a result, evaluating businesses based on just one growth metric leaves rankings open to accounting irregularities of the quarter (such as changes in tax legislation or restructuring charges), which could render one or both figures unrepresentative of the business as a whole. As outliers, businesses with quarterly EPS or revenue growth greater than 2,500% were disqualified.
1. U.S.U.S Nuclear Energy Corp.
Uranium Energy (NYSE: U.E.C.) stock is worth purchasing as one of North America’s top owners of uranium resources. The stock has traded in a range or declined in the last six months. But a breakout to the upside appears just around the corner. The company has $127 million in cash and liquid assets, which is important to note. A balance sheet without any debt gives room for rapid expansion. Recently, the business paid $112 million in cash to buy Uranium One.
Physical uranium reserves totaling 5 million lbs already exist within the corporation. The mine can also produce 6.8 million lbs annually and is ready for production.The U.E.C. stock is one of the most likely multibagger penny stocks due to its robust resource base and favorable industry prospects.
2. GERNON CORP
A late-stage clinical biopharmaceutical company is called Geron. It creates and markets medications used to treat tumors of the bone marrow and blood cells, such as high-risk myelofibrosis and myelodysplastic syndromes.
3. Inc. TETRA Technologies
TETRA Technologies provide oil and gas-related goods and services. It offers services for production well testing, water management, completion fluids, and associated matters. It manufactures and markets additives, liquid calcium chloride, clear brine fluids, and associated goods.
3 Best Penny Stocks for Value
These penny companies have had the lowest price-to-earnings (P/E) ratio over the past 12 months. Because dividends and share buybacks are two ways that earnings can be distributed to shareholders, a low P/E ratio indicates that you are paying less for each dollar of profit.
1. Arrival
Stocks of electric vehicles have recently experienced significant corrections in general. A few of the causes have included chip shortages and inflation worries. However, I think that these brief setbacks offer investors in electric car stocks a fantastic chance to buy.
One of the possible multibagger penny stocks from the E.V.E.V. industry is Arrival (NASDAQ: A.R.V.L.). After a 78% correction in six months, there will probably be some relief.
Arrival has been running behind schedule, which is a major correction factor. But it appears that the business is finally getting closer to production. The stock price can increase as a result of this.
Arrival anticipates starting U.K.U.K. bus production in the second part of 2022. Arrival anticipates that van production will start in Charlotte in Q4 2023 and Bicester in Q3 2023. In total, 400–600 vans are anticipated to be manufactured in 2023.
2. Blockchain Riot
The best moment to buy a stock or investment theme is when there is blood on the streets. The same is true for cryptocurrency stocks and Bitcoin (BTC-USD). Of course, I’d stay away from a serious plunge. However, several cryptocurrencies and crypto stocks can offer multi-fold gains if views change.
Therefore, Riot Blockchain (NASDAQ: RIOT) is on my list of multibagger penny stocks to purchase (even though I may be stretching the concept a little, as the stock is currently slightly above $5). To put things in context, Riot can hash at a rate of 4.6EH/s at the moment. However, the business anticipates increasing the hashing capacity to 12.6EH/s by January 2023 with the deployment of miners.
3. Automotive Mullen
Over the past year, the price of Mullen Automotive (NASDAQ: M.U.L.N.) stock has fallen by 90%. However, it appears that more good news is in the works, and the price of M.U.L.N. stock makes it worthwhile to purchase.
Mullen has already detailed successful outcomes with the business’ solid-state polymer battery. Additionally, the business has acquired $275 million in new capital. With a $61 million cash reserve already in place, the industry is ideally situated to make product development investments.
It’s important to note that Mullen has submitted 130 patent applications for its Mullen FIVE EV crossover in 24 different nations.
4. Camber Energy
A Houston-based energy firm called Camber Energy, Inc. (NYSE: C.E.I.) buys and sells natural gas, crude oil, and natural gas liquids (N.G.L.).As of December 31, Camber Energy, Inc.’s (NYSE: C.E.I.) proven reserve totaled 73,800 barrels of oil equivalent. The business also holds a sizable stake in Viking Energy Group, Inc. The average daily volume of shares traded in Camber Energy, Inc. (NYSE: C.E.I.) is about 56 million. The stock’s low and high points during the last 52 weeks were $0.33 and $4.85, respectively.
5. Royal Dutch Shell Inc. (NASDAQ: I.M.P.P.)
International shipping firm Imperial Petroleum Inc. (NASDAQ: I.M.P.P.), established in Greece, specializes in the liquefied transportation of petroleum and petrochemical products. Imperial Petroleum Inc. (NASDAQ: I.M.P.P.), which just announced the purchase of two Suezmax tankers for $46.8 million, is in the expansion phase of its business.
The combined carrying capacity of these two Suezmax tankers would be 320,000 dwt or three million barrels of oil. Mid-June is the anticipated delivery date for the tankers. Additionally, Imperial Petroleum Inc. (NASDAQ: I.M.P.P.) disclosed that it planned to pay for the acquisition with cash on hand and fresh senior secured bank debt.
6. Inc. Clovis Oncology (NASDAQ: C.L.V.S.)
A commercial-stage biotech business called Clovis Oncology, Inc. (NASDAQ: C.L.V.S.) is situated in Boulder, Colorado, and it’s focused on finding, creating, and marketing cancer medicines.
The study achieved its main objectives. When Rubraca was given to women, their median progression-free survival was reported to be 28.7 months, compared to 11.3 months for those who received a placebo. Another research is being carried out by Clovis Oncology, Inc. (NASDAQ: C.L.V.S.) to see how well rucaparib and nivolumab work together. By Q1 2023, the research is anticipated to be finished.
7. Pharmaceuticals Quoin, Ltd. (NASDAQ: Q.N.R.X.)
Israeli specialty pharmaceutical business Quoin Pharmaceuticals, Ltd. (NASDAQ: Q.N.R.X.) focuses on creating and marketing therapies for rare disorders.Aydin Huseynov at Ladenburg began covering Quoin Pharmaceuticals, Ltd. (NASDAQ: Q.N.R.X.) stock on May 6 and assigned it a Buy rating with a $2 price target.
The analyst mentioned that Netherton syndrome, or N.S.N.S., a rare pediatric condition that is genetic and has no known cure, can be treated with a topical serine protease produced by Quoin Pharmaceuticals, Ltd. (NASDAQ: Q.N.R.X.). The drug has a streamlined regulatory process for possible F.D.A. clearance. Huseynov determined the target price with a 50% chance of the F.D.A.’s approval.
8. Fresh Gold
I continue to be bullish on gold despite aggressive rate increases. Real interest rates are still negative, which is one factor. Additionally, the likelihood of a recession and elevated geopolitical tensions are supportive factors for gold.
A possible multibagger penny stock from the gold mining industry is New Gold (NYSE American: N.G.D.). With a 9.1 projected price-to-earnings ratio, N.G.D. stock appears to be a good investment.
Strong cash flow potential is possible if gold moves higher over the coming years. The corporation recorded operating cash flows of $66 million for the first quarter of 2022. This already suggests a possible annualized O.C.F. of more than $260 million. With an investment horizon of 18 to 24 months, N.G.D. stock is worth examining at current levels.
9. Transocean
Oil has undergone some pullback from highs amid economic fears. A significant fall, however, doesn’t appear plausible given the geopolitical risk premium in oil prices. Transocean (NYSE: R.I.G.) is a top selection among energy penny stocks. The stock just corrected, and this offers a solid opportunity for accumulation.
It’s also important to note that Transocean has a substantial $6.1 billion backlog of orders. There is a clear path to increased revenue with a backlog that is front-end heavy. Transocean plans to reduce its debt by $3 billion over the following few years while anticipating robust cash flows. Overall, the medium-term potential for value growth in R.I.G. stock appears discounted.
10. The Amarin Corporation (NASDAQ: A.M.R.N.)
Irish-American biotech company Amarin Corporation plc (NASDAQ: A.M.R.N.) aims to create and market therapies for cardiac disorders.
Amarin’s stock has been under pressure since the Q1 2022 results were disappointing. Sarissa Capital Management, a hedge fund based in Greenwich, Connecticut, has acquired a 6.05% stake. The hedge fund disclosed on June 3 that it is in discussions with the company’s management to increase shareholder value.
11. Brands Tilray
Cannabis legalization at the federal level appears to take longer than anticipated. However, Tilray Brands (NASDAQ: T.L.R.Y.) seems appealing following a significant fall. Tilray has been expanding its market share by making acquisitions. The business has established itself in important markets like the United States and other European nations. Tilray reiterated its forecast calling for $4.0 billion in revenue by 2024.If regulatory obstacles disappear, this appears feasible. If cannabis is legalized, the U.S.U.S. market might reach $57 billion by 2030.
12. International LiqTech, Inc. (NASDAQ: L.I.Q.T.)
A Danish manufacturer of ceramic membranes, diesel particle filters, and water filtering systems is LiqTech International, Inc. (NASDAQ: L.I.Q.T.) (D.P.F.). The business has worked in the filtration sector for twenty years and has installed D.P.F.s in more than 2.5 million automobiles. More than 300 water treatment systems are used worldwide by LiqTech International, Inc. (NASDAQ: L.I.Q.T.).
13. Wrap Technologies
The Tempe, Arizona-based company Wrap Technologies, Inc. (NASDAQ: WRAP) provides a completely immersive police training simulator using Wrap Reality. Wrap Technologies, Inc. (NASDAQ: WRAP) manufactures fully patented remote restraint devices, public safety training tools, and body cams. Following horrifying mass shooting incidents in the U.S.U.S., public safety stocks have gained attention.
14. Inc. Red Cat Holdings (NASDAQ: R.C.A.T.)
Red Cat Holdings, Inc. (NASDAQ: R.C.A.T.), a drone business with both commercial and governmental clients, is situated in San Juan, Puerto Rico. Following the necessary authorization from the pertinent authorities, the e-commerce sector is anticipated to be a major end market for the drone market.
