US Penny Stocks To Watch In November 2024

As the U.S. stock market experiences a resurgence, with major indices like the Dow Jones and S&P 500 on track for significant monthly gains, investors are keenly observing opportunities across various sectors. Penny stocks, though considered a niche investment area today, still represent smaller or newer companies that can offer unique growth potential when backed by solid financial health. In this article, we will highlight three penny stocks that stand out due to their balance sheet strength and potential for long-term success in the evolving market landscape.

Top 10 Penny Stocks In The United States

Name	Share Price	Market Cap	Financial Health Rating
BAB (OTCPK:BABB)	$0.802475	$5.83M	★★★★★★
QuantaSing Group (NasdaqGM:QSG)	$3.08	$145.67M	★★★★★★
Golden Growers Cooperative (OTCPK:GGRO.U)	$4.50	$69.71M	★★★★★★
PHX Minerals (NYSE:PHX)	$3.72	$139.43M	★★★★★☆
ZTEST Electronics (OTCPK:ZTST.F)	$0.22	$8.1M	★★★★★★
LexinFintech Holdings (NasdaqGS:LX)	$4.90	$805.62M	★★★★★★
Permianville Royalty Trust (NYSE:PVL)	$1.58	$52.14M	★★★★★★
Zynerba Pharmaceuticals (NasdaqCM:ZYNE)	$1.30	$65.6M	★★★★★☆
CBAK Energy Technology (NasdaqCM:CBAT)	$0.952	$85.62M	★★★★★☆
Safe Bulkers (NYSE:SB)	$3.84	$410.03M	★★★★☆☆

Click here to see the full list of 712 stocks from our US Penny Stocks screener.

Let's explore several standout options from the results in the screener.

CBAK Energy Technology (NasdaqCM:CBAT)

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

Overview: CBAK Energy Technology, Inc. and its subsidiaries focus on the manufacturing, commercialization, and distribution of lithium-ion high power rechargeable batteries across Mainland China, the United States, Europe, and other international markets with a market cap of $85.62 million.

Operations: The company's revenue is derived from two main segments: CBAT, contributing $150.73 million, and Hitrans, generating $56.70 million.

Market Cap: $85.62M

CBAK Energy Technology has demonstrated a significant turnaround, becoming profitable in the past year with earnings growth outpacing the electrical industry. Despite this, recent financial results show a decline in quarterly sales to US$44.63 million from US$63.44 million year-over-year, although net income improved for the nine months ending September 30, 2024. The company's short-term assets fall short of covering its liabilities, but long-term liabilities are well managed. A leadership change saw Zhiguang Hu appointed CEO; his extensive experience in sales and marketing is expected to contribute positively to future revenue growth amidst current volatility challenges.

• Click here and access our complete financial health analysis report to understand the dynamics of CBAK Energy Technology.
• Understand CBAK Energy Technology's earnings outlook by examining our growth report.

Smart Share Global (NasdaqCM:EM)

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

Overview: Smart Share Global Limited is a consumer tech company offering mobile device charging services in the People's Republic of China, with a market cap of $185.90 million.

Operations: The company's revenue from rental and leasing services amounts to CN¥1.96 billion.

Market Cap: $185.9M

Smart Share Global has recently become profitable, marking a significant milestone for the company. It trades at a substantial discount to its estimated fair value, presenting potential opportunities for investors. The management team is experienced, with an average tenure of 5.9 years, and the board also boasts seasoned members. The company's financial health appears robust with short-term assets of CN¥4 billion exceeding both short-term and long-term liabilities significantly. Smart Share Global operates debt-free, reducing financial risk concerns related to interest payments or cash flow coverage. However, its share price remains highly volatile compared to broader market trends.

• Click here to discover the nuances of Smart Share Global with our detailed analytical financial health report.
• Assess Smart Share Global's future earnings estimates with our detailed growth reports.

Sportsman's Warehouse Holdings (NasdaqGS:SPWH)

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

Overview: Sportsman's Warehouse Holdings, Inc. operates as an outdoor sporting goods retailer in the United States with a market cap of $82.89 million.

Operations: Sportsman's Warehouse Holdings, Inc. has not reported any specific revenue segments.

Market Cap: $82.89M

Sportsman's Warehouse Holdings has faced financial challenges, reporting a net loss of US$5.91 million for the recent quarter and increased losses over the past five years. Despite this, its short-term assets of US$385.3 million exceed both short and long-term liabilities, indicating some financial stability. The company has reduced its debt-to-equity ratio significantly over five years but still maintains a high level of debt at 66.2%. Management and board inexperience may pose risks, while high share price volatility could deter some investors despite trading at good value relative to peers.

• Jump into the full analysis health report here for a deeper understanding of Sportsman's Warehouse Holdings.
• Learn about Sportsman's Warehouse Holdings' future growth trajectory here.

Next Steps

• Get an in-depth perspective on all 712 US Penny Stocks by using our screener here.
• Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
• Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.

Curious About Other Options?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• 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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