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ImpediMed Leads Our Trio Of ASX Penny Stock Highlights

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The Australian market has recently experienced a downturn, with the ASX200 breaking its five-day rally and sectors across the board showing declines. Despite this, opportunities still exist for investors willing to explore lesser-known areas of the market. Penny stocks, though an older term, continue to represent potential growth avenues by focusing on smaller or newer companies that combine affordability with promising fundamentals.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Embark Early Education (ASX:EVO)

A$0.775

A$142.2M

★★★★☆☆

LaserBond (ASX:LBL)

A$0.565

A$66.23M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.52

A$322.48M

★★★★★☆

SHAPE Australia (ASX:SHA)

A$2.88

A$238.78M

★★★★★★

Vita Life Sciences (ASX:VLS)

A$1.915

A$107.38M

★★★★★★

Helloworld Travel (ASX:HLO)

A$2.01

A$327.26M

★★★★★★

MaxiPARTS (ASX:MXI)

A$1.90

A$105.1M

★★★★★★

SKS Technologies Group (ASX:SKS)

A$1.59

A$242.07M

★★★★★★

Servcorp (ASX:SRV)

A$4.93

A$486.42M

★★★★☆☆

IVE Group (ASX:IGL)

A$2.08

A$322.17M

★★★★☆☆

Click here to see the full list of 1,049 stocks from our ASX Penny Stocks screener.

Let's dive into some prime choices out of the screener.

ImpediMed

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

Overview: ImpediMed Limited is a medical technology company that manufactures and sells bioimpedance spectroscopy (BIS) medical devices in the United States and Europe, with a market cap of A$107.25 million.

Operations: The company generates revenue of A$10.32 million from its medical segment.

Market Cap: A$107.25M

ImpediMed Limited, with a market cap of A$107.25 million, operates in the medical technology sector and generates A$10.32 million in revenue from its medical segment. The company is debt-free and has maintained stable weekly volatility over the past year. Despite being unprofitable, ImpediMed has reduced its losses by 3.2% annually over five years and forecasts earnings growth of 67.52% per year. It has sufficient cash runway for more than a year based on current free cash flow levels, though both its board and management team are relatively inexperienced with short tenures averaging around one year each.

ASX:IPD Debt to Equity History and Analysis as at Jan 2025
ASX:IPD Debt to Equity History and Analysis as at Jan 2025

Shaver Shop Group

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

Overview: Shaver Shop Group Limited operates as a retailer of personal care and grooming products in Australia and New Zealand, with a market capitalization of A$174.90 million.

Operations: The company's revenue is primarily derived from retail store sales of specialist personal grooming products, totaling A$219.37 million.