Promising Penny Stocks Under $1 to Buy

Founded in 1954, Canada-based Western Forest Products is a lumber company engaging in sustainable forest management, value-added lumber remanufacturing, and timber harvesting.

Over the last 12 months, its valuation peaked at $1.80 and the lowest it reached was $0.79 in November 2022. Early into 2023, it scored a steady growth in value and was forecasted to double within the year. As far as the traditional metrics are concerned, it ranked better than 85% of its competitors.

A specialized pharmaceutical company, Aquestive Therapeutics focuses on advancing current care standards in terms of development and delivery in the US. The company engages in the development and commercialization of orally administered drugs used in the treatment of central nervous system conditions and severe allergies.

AQST remains within analysts’ top healthcare picks and received a consensus rating of Buy as of January 2023. The company’s price-to-sales ratio of 1x is below the industry average of 2.9x, and analysts estimate that it is traded more than 20% below its fair value. Investors can also take advantage of the increasing interest in hydrogen energy by considering some hydrogen stocks trading below $1, which could potentially provide high returns in the future.

The small-cap company Vyant Bio was founded in 1999 in New Jersey, and specializes in drug discovery technologies, aiming to improve the development of advanced therapies in precision medicine.

The stock has been on a steady decline over the last year after its peak of about $8 in March 2022 and may have found its bottom at $0.66 closing of 2022 (penny stocks). The company has trials set for the first quarter of 2023, and its success largely depends on its proceedings – if things don’t go south, the revenue is projected to grow over 100%.

Intouch Insight offers customer experience management products and services helping clients quantify customer satisfaction and understand stock market trends through surveys, mystery shopping, operational and compliance audits, and event marketing automation solutions.

The stock is extremely volatile and due to its small market cap, very risky. Yet, the company has become profitable – its earnings scored a 49.5% growth over the last five years compared to the industry average of 19%.

• Most Active Penny Stocks 2023

A late-stage clinical company, Sesen Bio focuses on improving, developing, and commercializing targeted fusion protein therapeutics for the treatment of prostate cancer.

Once traded for around $6, the value of the stock plummeted following the company’s failure to obtain FDA approval. It remains a risky buy and adheres to the general volatility of biotech outfits yet with the merger with Carisma Therapeutics looming, the stock may experience new highs over the course of the year.

The Ontario-based software company delivers fully integrated cash management solutions to streamline the cash flow and improve visibility and efficiency. The company lost over 20% of its value year-to-year and is considered to be traded below its fair value.

Despite the loss in earnings over the last year, the company supports a strong balance sheet and with a P/E ratio of 15.61, it ranks better than over 75% of its competitors. The company was also labelled as being at extremely low risk of bankruptcy by the Altman Z-score.

The Illinois-based company specializes in staffing services and solutions for IT, finance and accounting, engineering, legal, and healthcare industries. The stock may promise high returns at certain points in the year due to its cyclical nature and the state of the current labor market. It is currently estimated to be traded 90% below its fair value.

The company’s financials also paint an optimistic picture. With a P/E ratio of 2.82, it ranks better than over 90% of its competitors, and its debt-to-EBITDA ratio is similarly better than over 90% of its competitors. The company also received an 'unlikely to bankrupt' rating from Altman Z-score.

Ayala Pharmaceuticals focuses on the development and commercialization of small molecule therapeutics for rare and aggressive types of tumors and cancer. The next-generation sequencing combines its bioinformatics platform to develop a treatment for historically underserved patients.

The stock value has plummeted from $6 to below $1 over the course of a year. The company doesn’t hold very strong in terms of its financials and followed a volatile valuation over the past few months, nevertheless, it received FDA approval in 2022 and is estimated to have a revenue growth of over 50% per year.

The Canada-based biopharmaceutical company focuses on the development of psychedelic-based therapeutics to be used in the treatment of various mental health diseases including anxiety, depression, and addiction.

Its 52-week range was 0.265 - 1.16. Its revenue shrunk over the past year, but the company is currently focused on the research and development phase and its board is critically favored by major analysts. With the rehashed interest in psychedelic treatments, it may be a valuable buy.

The Canada-based company is a medical and recreational cannabis producer that is looking into expanding its operations on a global scale. The company currently has three cultivation facilities including an edible manufacturing site, an indoor growing facility, and a greenhouse facility and uses a proprietary system to optimize cultivation and harvesting.

The company is still expected to be profitable, yet its net sales have grown over 15% and holds a strong financial profile with its debt-to-EBITDA ratio ranking better than 99% of its competitors. Its 52-week range was between $0.70 - $1.87

Even though it's considered a cheap stock to invest in, new penny stocks can be traded at any price, but the term "penny stock" generally refers to stocks that are traded at a low price, often less than $5 per share. While it is possible for new penny stocks to be traded at a price of less than $1 per share, this is not always the case.

eToro routinely tops the list of the best trading platforms – for a reason. The platform offers top-notch usability and commission-free trading, along with a specific focus on social trading, mostly for trading penny stocks. Although it doesn’t allow OTC trading, its stock collection is far-reaching and its charting capabilities are supported by an industry-grade tool, ProCharts. Users can access sophisticated tools to assess the historical performance of their chosen asset and compare multiple at a glance so they can smoothly trade penny stocks.

	Name	Score	Visit	Disclaimer
	eToro	8.7	Visitetoro.com					Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

As one of the early adopters of online trading, E*Trade supports a digital product that is technically in the makings since the early 1990s. The wealth of experience in the area is channeled in its sleek interface and intuitive user experience, appealing to novice investors greatly. Additionally, the stock market platform packs far-reaching educational resources that would be incredibly valuable for traders who are about to step into a very volatile territory to trade penny stocks.

	Name	Score	Visit	Disclaimer
	E*Trade	6.5	Visitetrade.com

Due to numerous risks involved in penny stock trading low-cost securities, Firstrade has limited its services to OTC-listed penny stocks, or penny stocks that are not listed in major exchanges. As per the requirements, securities must be DTC eligible, meaning that the company's securities are able to be deposited through a Depository Trust Company, have a liquid trading volume, and the stock price must be greater than $0.10. These all contribute to lowering the risk of trading low-cost securities – though never eliminating them. Although it’s not advised to do so, traders with less experience may opt to use a service like that of Firstrade in order to curtail their risk exposure.

	Name	Score	Visit	Disclaimer
	Firstrade	7.0	Visitfirstrade.com

Before investing, it's crucial to know the benefits and risks involved in trading stocks under $1.