- Penny stocks are the stocks of companies with low market capitalisation (m-cap) and generally trade for less than a dollar.
- These low-value stocks tend to post significant upside during the bull market.
- Pilbara Minerals, Reckon, and Globe Metals & Mining, are a few penny stocks to consider in July.
Penny stocks are the stocks of companies with low market capitalisation (m-cap) and generally trade for less than a dollar. Generally, small investors lap up penny stocks since these hold a reputation of giving quick returns. These low-value stocks tend to post significant upside at the bull market. However, retail investors should be careful while investing in these stocks due to the risk associated with them.
Here, we will discuss 10 ASX penny stocks to look out for in July:
Pilbara Minerals Ltd (ASX:PLS)
Pilbara Minerals is a low-cost producer of lithium. The company focusses on expanding to fully integrated lithium raw materials. In the month of June, the shares rose by 16%. In the first half of FY21, the company posted one-year revenue growth of 56.5%. In its recent trading update, the company announced completion of the acquisition of Altura Lithium Operations (ALO). It has consequently gained 100% ownership of the Altura project.
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Reckon Ltd (ASX:RKN)
Reckon is involved in the business of providing software solution to the Business and Practice Management segment. In the last one month, Reckon stocks gave a return of 15.6%. The company’s business solutions segment includes ‘Reckon One’ for small business accounting and ‘Reckon Accounts Hosted’ for large business accounting.
Globe Metals & Mining Ltd (ASX:GBE)
The company develops specialty metals and minerals. The company that focusses on Africa has Kanyika niobium project in Malawi. The stock gave a return of 300% last month. Globe Minerals received a
Notification in the first week of June from the Principal Secretary of Mining that the Malawi Government’s Mineral Resources Committee examined GBE’s mining authorisation application for the Kanyika Niobium Project and granted a Mining Permit. The stock price remained unchanged last month.
Hiremii Ltd (ASX:HMI)
Technology firm Hiremii has two core business divisions – a fixed, fee recruitment business, and a recruitment and full-service labour hire business. The company provides digitised employee onboarding and labour hire services.
For the 10 months ending 30 April 2021, Hiremii announced unaudited revenue of AU$5.8 million. It represents an increase of 12.3% compared to the corresponding period of previous financial year. The stock price remained unchanged last month.
Aquis Entertainment Ltd (ASX:AQS)
Aquis Entertainment is a gaming and entertainment company. The company gave a return of 53% in the last one month. The company reported healthy business revenue in the given period.
READ MORE: Top five renewable energy stocks on ASX
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Doriemus Plc (ASX:DOR)
Doriemus is an oil and gas exploration company. On 08 June 2021, the company announced the capital raising of up to AU$3,340,000. In June, the stock gave a return of 72%.
FBR Ltd (ASX:FBR)
FBR is in the business of building dynamically stabilised robots to address global needs. The company has completed its second non-residential structure for a customer using Hadrian X®. The share price remained unchanged in the last month.
Eden innovations Ltd (ASX:EDE)
Eden innovation provides clean technology solutions to businesses. The company has performed on a healthy note in the March 2021 quarter. The total US EdenCrete® sales for Q1 2021 increased from US$268,810 in Q1 2020 to US$450,682 in Q1 2021. It implies a 67.7% one-year rise. The demand for shotcrete and pumped concrete has increased across the US. The stock gave a negative return of 33% in June.
City Chic Collective Ltd (ASX:CCX)
City Chic Collective is involved in retailing women’s fashion products. The stock price has surged over 19% in the past one month. City Chic Collective reported AU$119 million worth of revenue in global sales in the first half of FY21.
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AML3D Ltd (ASX:AL3)
The company specialises in providing commercial large-scale "Additive Metal Layering" 3D printing services.
The company has been engaged by The Boeing Company to produce and supply a 3D-Printed mandrel tool from ‘Invar-36’ material. In June, the stock gave a negative return of 19%.