10 hottest ASX stocks costing less than a dollar per share

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10 hottest ASX stocks costing less than a dollar per share

 10 hottest ASX stocks costing less than a dollar per share
Image source: Vitalii Vodolazskyi, Shutterstock

 

Summary

  • Nutritional Growth Solutions has surpassed US$500,000 in wholesale sales for its Healthy Height® shake range in Italy.
  • Tempest Minerals has four exciting projects in the Yalgoo region of Western Australia.
  • Mandrake Resources had received firm commitments from institutional and sophisticated investors for the placement of AU$12 million.

Trading or investing in stocks priced less than a dollar could be risky as these penny stocks are often laden with high risk. Investing in these small-cap companies could be a tough task as it is a must to select a few worthy candidates from a pool of many nondescript ones before putting your hard earned money on the line.

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However, once the right companies are identified, the investor could reap way higher returns than the risk taken. On that note, let’s have a brief look at 10 best businesses quoting at less than a dollar per share.

Read More: Which are the top stocks under 10 cents?

  1. Nutritional Growth Solutions Limited (ASX:NGS)

Nutritional Growth Solutions is a global nutritional health company aiming to improve the wellbeing of children. It develops, produces and sells clinically tested nutritional supplement formulae for children.

Recently, the company has surpassed US$500,000 in wholesale sales for its Healthy Height® shake range in Italy since its debut in March this year. It is a big milestone for the company and shows there is a genuine need for nutritional products that support growth development in children.

  1. Tempest Minerals Limited (ASX:TEM)

Tempest Minerals Ltd is an Australia-based mineral exploration company with a diversified portfolio of projects in Western Australia, considered highly prospective for precious, base and energy metals.

The company has four exciting projects in the Yalgoo region of Western Australia. The sale of 50 million shares in Premier African Minerals Ltd has added AU$0.159 million to the company’s cash balance.

  1. Mandrake Resources Limited (ASX:MAN)

Mandrake Resources is an exploration company, exploring and developing gold, nickel, copper and PGE opportunities. The Company controls 100% of a 140km2 exploration licence prospective for Ni/Cu/PGEs in the exciting Jimperding Metamorphic Belt, 70km NE of Perth.

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In June 2021, it received firm commitments from institutional and sophisticated investors for the placement of AU$12 million. The fund would be directed towards facilitating the imminent drilling program at the Newleyine PGE-Ni-Cu targe. The strong response received for this capital raise reflects the potential for the company’s portfolio of assets.

  1. Hiremii Limited (ASX:HMI)

Hiremii is a technology-driven full-service labour hire and recruitment company with two core business divisions – a fixed fee recruitment business, and a recruitment and full-service labour hire business – providing digitised employee onboarding and labour hire services.

It had announced unaudited revenue of AU$5.8 million for the ten months ending 30 April 2021, representing an increase of 12.3% on the same period in the previous financial year. The company continues to enhance AI and ML capability on search functionality.

  1. Eden innovations Limited (ASX:EDE)

Eden innovations is a clean technology solutions provider, which makes life better and the planet more sustainable. US EdenCrete® has done quite well during the March 2021 quarter. The total US EdenCrete® sales for Q1 2021 rose from US$268,810 in Q1 2020 to US$450,682 in Q1 2021, a year-on-year increase of 67.7%.

The demand for shotcrete and pumped concrete has accelerated in a number of states across the US. After a long wait, the formal assessment of the EdenCrete® products has been completed, opening the door to import EdenCrete® Products into Australia for sale.

  1. Reckon Limited (ASX:RKN)

Reckon is a leading provider of accounting, expense management and scanning/print management software for over 100,000 SME clients globally. The company has a steady revenue and earnings profile, with over 100,000 customers in its business group.

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The business has strong cash flow generation, has significantly paid off its debt and paid sustainable dividends to its shareholders historically.  

  1. FBR Limited (ASX:FBR)

Robotic technology company FBR builds dynamically stabilised robots to address global needs. The company has completed its second non-residential structure for a customer using Hadrian X® – this time, a childcare centre – to further underline the enormous potential and versatility of its bricklaying technology.

The construction of the childcare centre structure was a major step forward in the commercialisation of the revolutionary Hardrian X® technology.

  1. AML3D Limited (ASX:AL3)

AML3D is an Australian company specialising in providing commercial large-scale "Additive Metal Layering" 3D printing services to Defence, Maritime, Automotive and Resources customers.

The company has been engaged by The Boeing Company to produce and supply a 3D Printed mandrel tool from ‘Invar-36’ material. This purchase contract will provide the company with a key opportunity to showcase its ability to produce parts on time and to specification with a high-quality customer.

  1. Constellations Technologies Limited (ASX:CT1)

Constellations Technologies is an IoT and digital solutions company, having an international client portfolio. For the quarter ended March 2021, its cash receipts surged by a massive 260% over the previous quarter with AU$512k received in Q3 as payment milestones from existing projects.

The company’s cold chain solution has been deployed to monitor the temperature integrity of Pfizer vaccine doses at Barwon Health’s University Hospital Geelong, depicting a strong credibility of its services.

  1. Bluechiip Limited (ASX:BCT)

Bluechiip is a developer and leader in wireless tracking solution for the healthcare and life science, security, defence, etc. The company is financially well supported with closing cash and cash equivalents of AU$5.97 million as of 31 March 2021, with no borrowings.

It is progressing well with the development of its direct to market portfolio of products for the Biobanking market including a range of Bluechiip Enabled and Bluechiip-branded range of cryogenic consumables.

Read More: How do I start trading penny stocks in Australia?              

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