ASX Penny Stocks To Consider In November 2024

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As the ASX200 shows signs of a potential rise, buoyed by positive movements on Wall Street and ongoing global events such as China's National People's Congress, investors are keenly observing market shifts. For those interested in exploring beyond established names, penny stocks—though an outdated term—continue to present intriguing opportunities. These smaller or newer companies often possess solid financial foundations that can lead to significant returns, making them worth considering for their potential hidden value.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Embark Early Education (ASX:EVO)

A$0.77

A$141.28M

★★★★☆☆

LaserBond (ASX:LBL)

A$0.595

A$69.75M

★★★★★★

Helloworld Travel (ASX:HLO)

A$1.765

A$287.37M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.52

A$322.48M

★★★★★☆

Navigator Global Investments (ASX:NGI)

A$1.63

A$798.83M

★★★★★☆

Perenti (ASX:PRN)

A$1.155

A$1.07B

★★★★★★

Atlas Pearls (ASX:ATP)

A$0.14

A$61M

★★★★★★

EZZ Life Science Holdings (ASX:EZZ)

A$3.19

A$141.71M

★★★★★★

Joyce (ASX:JYC)

A$4.33

A$129.2M

★★★★★★

MaxiPARTS (ASX:MXI)

A$1.885

A$104.27M

★★★★★★

Click here to see the full list of 1,035 stocks from our ASX Penny Stocks screener.

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

Alcidion Group

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

Overview: Alcidion Group Limited develops and licenses healthcare software products in Australia, New Zealand, and the United Kingdom, with a market cap of A$72.52 million.

Operations: The company generates A$37.06 million in revenue from its healthcare software solutions segment.

Market Cap: A$72.52M

Alcidion Group, with a market cap of A$72.52 million, has faced challenges as it remains unprofitable and recently reported an increased net loss of A$8.42 million for the year ending June 30, 2024. Despite this, the company is debt-free and has sufficient cash runway for over a year based on current free cash flow. Alcidion's revenue from healthcare software solutions reached A$37.06 million but decreased compared to the previous year. Recent management changes include appointing Will Smart as Non-Executive Director and Michael Sapountzis as Company Secretary, suggesting strategic shifts amidst ongoing financial pressures.

ASX:ALC Financial Position Analysis as at Nov 2024
ASX:ALC Financial Position Analysis as at Nov 2024

Beamtree Holdings

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

Overview: Beamtree Holdings Limited offers artificial intelligence-based decision support software and data insight services to the healthcare industry both in Australia and internationally, with a market cap of A$73.89 million.