November 2024's Top US Penny Stocks With Growth Potential

As investors digest the latest big-tech earnings and a crucial jobs report, stock futures are pointing to a higher open for major indexes, suggesting cautious optimism in the market. Penny stocks, often representing smaller or newer companies, remain an intriguing option for those looking beyond established giants. Despite their vintage label, these stocks can offer surprising value when backed by solid financials and present unique opportunities for growth-oriented investors.

Top 10 Penny Stocks In The United States

Name	Share Price	Market Cap	Financial Health Rating
BAB (OTCPK:BABB)	$0.799	$5.75M	★★★★★★
QuantaSing Group (NasdaqGM:QSG)	$3.08	$162.03M	★★★★★★
LexinFintech Holdings (NasdaqGS:LX)	$3.175	$522.01M	★★★★★★
RLX Technology (NYSE:RLX)	$1.62	$2.06B	★★★★★★
Golden Growers Cooperative (OTCPK:GGRO.U)	$4.50	$69.71M	★★★★★★
Better Choice (NYSEAM:BTTR)	$1.82	$2.81M	★★★★★★
ARC Document Solutions (NYSE:ARC)	$3.36	$145.32M	★★★★★★
Permianville Royalty Trust (NYSE:PVL)	$1.55	$51.15M	★★★★★★
Commercial Vehicle Group (NasdaqGS:CVGI)	$2.91	$94.17M	★★★★★☆
CBAK Energy Technology (NasdaqCM:CBAT)	$1.05	$94.44M	★★★★★☆

Click here to see the full list of 756 stocks from our US Penny Stocks screener.

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

Adaptive Biotechnologies (NasdaqGS:ADPT)

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

Overview: Adaptive Biotechnologies Corporation is a commercial-stage company that develops an immune medicine platform for diagnosing and treating various diseases, with a market cap of approximately $713.77 million.

Operations: The company's revenue is generated from the United States, totaling $168.77 million.

Market Cap: $713.77M

Adaptive Biotechnologies Corporation, with a market cap of US$713.77 million, is navigating the competitive landscape as it develops its immune medicine platform. Despite generating US$168.77 million in revenue from the U.S., the company remains unprofitable, with increasing losses over the past five years and no forecasted profitability in the near term. However, Adaptive's short-term assets exceed both its short- and long-term liabilities, providing some financial stability. Recent achievements include receiving IVDR certification for clonoSEQ in the EU, enhancing its position in MRD testing for lymphoid malignancies and expanding clinical trial capabilities across Europe.

• Take a closer look at Adaptive Biotechnologies' potential here in our financial health report.
• Examine Adaptive Biotechnologies' earnings growth report to understand how analysts expect it to perform.

Cytek Biosciences (NasdaqGS:CTKB)

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

Overview: Cytek Biosciences, Inc. is a cell analysis solutions company that offers tools for biomedical research and clinical applications, with a market cap of approximately $650.30 million.

Operations: Cytek generates revenue primarily from its Scientific & Technical Instruments segment, which totaled $197.71 million.

Market Cap: $650.3M

Cytek Biosciences, Inc., with a market cap of US$650.30 million, is experiencing financial challenges despite generating US$197.71 million in revenue from its Scientific & Technical Instruments segment. The company remains unprofitable, with losses increasing over the past five years and a negative return on equity of -4.51%. However, Cytek's short-term assets significantly exceed both its short- and long-term liabilities, offering some financial cushion. Analysts expect substantial earnings growth annually at 68.91%, although the company has revised its 2024 revenue guidance downward due to anticipated lower gross profit and higher stock-based compensation expenses.

• Jump into the full analysis health report here for a deeper understanding of Cytek Biosciences.
• Understand Cytek Biosciences' earnings outlook by examining our growth report.

BARK (NYSE:BARK)

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

Overview: BARK Inc. is a dog-centric company that offers products, services, and content for dogs with a market cap of $251.65 million.

Operations: The company's revenue is generated from two segments: Commerce, contributing $54.19 million, and Direct to Consumer, which accounts for $431.62 million.

Market Cap: $251.65M

BARK Inc., with a market cap of US$251.65 million, continues to face profitability challenges despite generating significant revenue from its Commerce (US$54.19 million) and Direct to Consumer (US$431.62 million) segments. The company reported a net loss of US$10.04 million for the first quarter ending June 2024 but maintains a solid financial position with short-term assets exceeding liabilities and more cash than total debt. Recent strategic moves include launching products on Chewy and completing share buybacks worth US$7.5 million, reflecting efforts to enhance shareholder value while navigating the competitive Specialty Retail industry landscape.

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

Seize The Opportunity

• Navigate through the entire inventory of 756 US Penny Stocks here.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
• Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Seeking Other Investments?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com