3 Promising Penny Stocks With Market Caps Under $400M

Simply Wall St

As the U.S. markets retreat from record highs, investors are keenly watching how economic indicators and Federal Reserve policies might shape future opportunities. In this context, penny stocks—despite their somewhat antiquated name—continue to attract attention for their potential value and growth prospects. By focusing on companies with solid financial foundations, these smaller or newer entities can offer unique opportunities for those looking to uncover promising investments beyond the usual market giants.

Top 10 Penny Stocks In The United States

NameShare PriceMarket CapRewards & Risks
Dingdong (Cayman) (DDL)$2.06$441.47M✅ 4 ⚠️ 0 View Analysis >
Waterdrop (WDH)$1.72$622.06M✅ 4 ⚠️ 0 View Analysis >
VTEX (VTEX)$4.08$742.41M✅ 3 ⚠️ 1 View Analysis >
WM Technology (MAPS)$1.24$212.07M✅ 4 ⚠️ 2 View Analysis >
Performance Shipping (PSHG)$1.89$23.5M✅ 4 ⚠️ 2 View Analysis >
Tuniu (TOUR)$0.9326$100.94M✅ 3 ⚠️ 1 View Analysis >
Table Trac (TBTC)$4.85$22.5M✅ 2 ⚠️ 2 View Analysis >
BAB (BABB)$0.95$6.9M✅ 2 ⚠️ 3 View Analysis >
Lifetime Brands (LCUT)$3.95$89.5M✅ 3 ⚠️ 3 View Analysis >
TETRA Technologies (TTI)$4.70$626.41M✅ 3 ⚠️ 2 View Analysis >

Click here to see the full list of 375 stocks from our US Penny Stocks screener.

Let's review some notable picks from our screened stocks.

Relmada Therapeutics (RLMD)

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

Overview: Relmada Therapeutics, Inc. is a clinical-stage biotechnology company in the United States with a market cap of $37.17 million.

Operations: Relmada Therapeutics, Inc. currently does not report any revenue segments.

Market Cap: $37.17M

Relmada Therapeutics, Inc., with a market cap of US$37.17 million, remains pre-revenue and is navigating financial challenges typical of penny stocks. The company reported a reduced net loss for Q2 2025 compared to the previous year, yet it remains unprofitable with no significant revenue streams. Relmada's recent transfer to the Nasdaq Capital Market offers an extended compliance period to meet listing standards, highlighting ongoing volatility concerns. Despite these hurdles, strategic appointments in its leadership aim to bolster its clinical development efforts for NDV-01 in bladder cancer treatment as it prepares for Phase 3 trials in 2026.

RLMD Financial Position Analysis as at Sep 2025

Acacia Research (ACTG)

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

Overview: Acacia Research Corporation acquires and operates businesses in the industrial, energy, and technology sectors across various regions worldwide, with a market cap of $328.88 million.

Operations: Acacia Research's revenue is derived from its Energy Operations ($66.78 million), Industrial Operations ($29.51 million), and Intellectual Property Operations ($70.80 million) segments.

Market Cap: $328.88M

Acacia Research Corporation, with a market cap of US$328.88 million, is navigating the complexities of penny stocks by leveraging its diversified revenue streams across energy, industrial, and intellectual property operations. Despite being unprofitable and not expected to achieve profitability in the near term, Acacia's robust cash position exceeds its total debt and provides a runway for over three years. Recent earnings show significant revenue growth compared to last year but still reflect a net loss for Q2 2025. The company is actively pursuing M&A opportunities while maintaining valuation discipline amidst rising multiples in target geographies.

ACTG Debt to Equity History and Analysis as at Sep 2025

Applied Energetics (AERG)

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

Overview: Applied Energetics, Inc. specializes in developing and selling advanced laser and optical systems, as well as integrated guided energy systems for various sectors including defense and biomedical, with a market cap of $347.27 million.

Operations: The company's revenue is primarily derived from its Aerospace & Defense segment, totaling $1.79 million.

Market Cap: $347.27M

Applied Energetics, Inc., with a market cap of US$347.27 million, faces challenges typical of penny stocks, including high volatility and limited revenue streams from its Aerospace & Defense segment. Recent earnings show a decline in sales to US$0.07 million for Q2 2025 and an increased net loss of US$3.79 million compared to the previous year. The company has less than a year of cash runway and remains unprofitable, with negative return on equity at -670.43%. Despite these hurdles, Applied Energetics benefits from experienced leadership following recent executive appointments aimed at strategic governance alignment.

AERG Debt to Equity History and Analysis as at Sep 2025

Turning Ideas Into Actions

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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