Here, I’m looking at three of the best penny stocks to buy right now.
Gene genie
I think Yourgene Health — which is expected to flip into profit this year — could deliver explosive earnings growth this decade. This penny stock produces genetic testing technologies in the field of reproduction as well as for disorders like cystic fibrosis, cancer and infectious diseases. It then partners with larger firms who pay to use these technologies.
I like Yourgene’s intention to broaden its geographical footprint and its realms of expertise through M&A (it acquired reproductive health and oncology-focussed Elucigene back in 2019).
A slight worry to me is the company’s price-to-earnings (P/E) ratio which sits around 36 times. A meaty valuation like this could prompt a share price fall if news on the company rattles investor nerves.
Green machine
Despite its distinctive name, VH Global Sustainable Energy Opportunities is a penny stock that hasn’t been on my radar that long. This isn’t just because its IPO only happened in February. It’s also because at 98p per share the renewable energy giant trades just below the £1 penny stock limit.
VH Global invests in green energy, such as wind and solar, as well as related infrastructure and technology, including battery storage. So it’s well-placed to exploit the clean energy revolution and has recently been on a spending spree in Brazil to make this a reality.
I think this share’s a top buy despite the damage that changing regulations surrounding energy generation could create.
A battery-powered penny stock
I believe Zinnwald Lithium could also prove to be one of the best low-cost stocks for me to buy for the battle against climate change. In its own words, this penny stock exists “to supply a suite of high value battery-grade lithium products to Europe’s rapidly growing electric vehicle (EV) and energy storage markets.”
According to Mordor Intelligence, demand for lithium batteries will increase at a compound annual growth rate of 10% through to 2026. And Zinnwald is focused on mining the metal in Germany and Ireland to meet this rocketing demand. Be aware though, any setbacks at its flagship asset in Central Europe could have severe implications for future profits.
Sporting great
Gym membership is steadily recovering again after the public health crisis that’s kept people away since early 2020. One penny stock poised to gain from this is Science in Sport. This is a share that manufactures ingredients for nutritional supplements.
It also makes its own line of products, including energy drinks and protein shakes, under its own brand name. The keep-fit craze has supercharged this market’s growth over the past decade. And I’m not expecting it to cool as public awareness around health and wellbeing grows.
But I’m mindful that severe competition in this marketplace will remain a significant thorn in its side.
