UK Penny Stocks To Watch In November 2024

Over the last 7 days, the UK market has dropped by 1.0%, but it has risen by 6.9% over the past year, with earnings forecasted to grow annually by 15%. In light of these conditions, identifying stocks with strong financials and growth potential becomes crucial, particularly when considering smaller or less-established companies often referred to as penny stocks. Though an outdated term, penny stocks still represent a segment where investors can find value and opportunity if they focus on those with solid fundamentals and resilience.

Top 10 Penny Stocks In The United Kingdom

Name	Share Price	Market Cap	Financial Health Rating
ME Group International (LSE:MEGP)	£2.23	£840.18M	★★★★★★
Next 15 Group (AIM:NFG)	£3.8789	£385.78M	★★★★☆☆
Supreme (AIM:SUP)	£1.61	£187.74M	★★★★★★
FRP Advisory Group (AIM:FRP)	£1.445	£356.66M	★★★★★★
Serabi Gold (AIM:SRB)	£0.825	£62.48M	★★★★★★
Ultimate Products (LSE:ULTP)	£1.25	£106.71M	★★★★★★
Luceco (LSE:LUCE)	£1.31	£202.04M	★★★★★☆
Stelrad Group (LSE:SRAD)	£1.46	£185.93M	★★★★★☆
Impax Asset Management Group (AIM:IPX)	£3.335	£426.76M	★★★★★★
Integrated Diagnostics Holdings (LSE:IDHC)	$0.4245	$246.77M	★★★★★★

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

Below we spotlight a couple of our favorites from our exclusive screener.

Audioboom Group (AIM:BOOM)

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

Overview: Audioboom Group plc is a podcast company that operates a spoken-word audio platform for hosting, distributing, and monetizing content primarily in the United Kingdom and the United States, with a market cap of £35.21 million.

Operations: The company generates revenue of $67.34 million from its Internet Software & Services segment.

Market Cap: £35.21M

Audioboom Group plc, with a market cap of £35.21 million, operates in the podcast sector and generates US$67.34 million in revenue from its Internet Software & Services segment. Despite being unprofitable and experiencing increased losses over the past five years, Audioboom is debt-free and has sufficient cash runway for over a year based on current free cash flow. Its management and board are seasoned, with average tenures of 9.3 and 6.2 years respectively. Recent corporate guidance indicates strong revenue growth expected for Q4 2024, although Q1 2025 may see seasonal declines.

• Click here to discover the nuances of Audioboom Group with our detailed analytical financial health report.
• Evaluate Audioboom Group's prospects by accessing our earnings growth report.

Kodal Minerals (AIM:KOD)

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

Overview: Kodal Minerals PLC, with a market cap of £71.88 million, is involved in the exploration and evaluation of mineral resources in the United Kingdom and West Africa through its subsidiaries.

Operations: Kodal Minerals PLC currently has no reported revenue segments.

Market Cap: £71.88M

Kodal Minerals PLC, with a market cap of £71.88 million, is currently pre-revenue and has demonstrated significant earnings growth over the past five years. The company benefits from an experienced board and management team, with no long-term liabilities or debt concerns. Kodal's short-term assets significantly exceed its liabilities, and it trades at a low price-to-earnings ratio compared to the UK market. Recent updates highlight progress in developing its Bougouni Lithium Project in Mali, including successful drilling results confirming high-grade lithium intersections and ongoing construction of processing facilities despite minor delays due to weather conditions.

• Click here and access our complete financial health analysis report to understand the dynamics of Kodal Minerals.
• Assess Kodal Minerals' future earnings estimates with our detailed growth reports.

GSTechnologies (LSE:GST)

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

Overview: GSTechnologies Ltd., along with its subsidiaries, offers data infrastructure, storage, and technology services globally and has a market cap of £21.72 million.

Operations: The company generates $1.55 million in revenue from its Information Data Technology and Infrastructure segment.

Market Cap: £21.72M

GSTechnologies Ltd., with a market cap of £21.72 million, is navigating its path in the tech industry with a focus on developing a borderless neobanking platform through strategic acquisitions under its GS Money banner. Despite generating $1.55 million in revenue from its Information Data Technology and Infrastructure segment, the company remains unprofitable, with losses increasing by 23.4% annually over the past five years and negative return on equity at -19.58%. GST's short-term assets of $3.5M comfortably cover both short-term and long-term liabilities, while recent capital raises have extended its cash runway beyond six months.

• Get an in-depth perspective on GSTechnologies' performance by reading our balance sheet health report here.
• Evaluate GSTechnologies' historical performance by accessing our past performance report.

Summing It All Up

• Click through to start exploring the rest of the 462 UK Penny Stocks now.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
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Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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