AXP Energy And 2 Other Promising Penny Stocks On The ASX

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The Australian market has recently experienced a downturn, with the ASX200 dipping below the 8,300-point level amid mixed sector performances. Despite this volatility, there are still opportunities for investors willing to explore less traditional avenues like penny stocks. Although the term may seem outdated, these smaller or newer companies can provide significant potential when backed by strong financials and growth prospects.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Embark Early Education (ASX:EVO)

A$0.755

A$138.53M

★★★★☆☆

LaserBond (ASX:LBL)

A$0.55

A$64.47M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.505

A$313.17M

★★★★★☆

SHAPE Australia (ASX:SHA)

A$2.80

A$232.15M

★★★★★★

Helloworld Travel (ASX:HLO)

A$1.935

A$315.05M

★★★★★★

MaxiPARTS (ASX:MXI)

A$1.75

A$96.8M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.60

A$784.13M

★★★★★☆

SKS Technologies Group (ASX:SKS)

A$1.59

A$215.17M

★★★★★★

Vita Life Sciences (ASX:VLS)

A$1.84

A$103.2M

★★★★★★

Servcorp (ASX:SRV)

A$4.86

A$479.51M

★★★★☆☆

Click here to see the full list of 1,047 stocks from our ASX Penny Stocks screener.

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

AXP Energy

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

Overview: AXP Energy Limited is an oil and gas production and development company operating in the United States with a market capitalization of A$11.65 million.

Operations: The company's revenue is primarily derived from its operations in the Denver-Julesburg Basin, generating $0.64 million.

Market Cap: A$11.65M

AXP Energy, with a market cap of A$11.65 million, operates in the oil and gas sector but remains pre-revenue with US$0.64 million in earnings from its Denver-Julesburg Basin operations. The company is debt-free and has seen reduced volatility over the past year, though it still experiences high share price fluctuations. Recent strategic moves include a Joint Development Agreement with Blackhart Technologies to utilize stranded natural gas for power generation at its Pathfinder Field in Colorado, potentially unlocking significant value. However, concerns remain about its financial stability as highlighted by an auditor's going concern doubts.

ASX:AXP Debt to Equity History and Analysis as at Dec 2024
ASX:AXP Debt to Equity History and Analysis as at Dec 2024

Boss Energy

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

Overview: Boss Energy Limited explores for and produces uranium deposits in Australia and the United States, with a market cap of A$1.07 billion.

Operations: Currently, there are no reported revenue segments for this company.