10 Stocks to Buy Under $1.99

RAE Systems Inc. (RAE)

RAE Systems Inc. (AMEX: RAE) develops and manufactures radiation and chemical monitors. Since the nuclear crisis in Japan, the company has ramped up production of its radiation-detection products. Currently trading at $1.87, the stock has also ramped up, climbing 16% year to date. And it is up an impressive 116% in the past year.

Cardero Resource Corp. (CDY)

Cadero Resource Corp. (AMEX: CDY) is down about 18% since the start of 2011, but shares are still up 50% in the past six months. Currently at $1.80, this mineral exploration company is a penny stock worth buying with a 52-week range of $1 to $2.37.

Sirius XM Radio (SIRI)

Satellite radio broadcaster Sirius XM Radio Inc. (NASDAQ: SIRI) is popular among penny stock investors. At $1.83, SIRI is up 67% in the last year, and 20% since mid-January. Investors should also note the company’s quarterly revenue growth of 9% from last quarter.

Capstone Turbine Corp. (CPST)

Next on our list is Capstone Turbine Corp. (NASDAQ: CPST), which develops, manufactures and markets microturbine technology solutions. Currently at $1.69, in the past six months, CPST stock has jumped 122%. This penny stock also posted quarterly revenue growth of 51% year over year in its last income statement.

Kimber Resources (KBX)

Exploration-stage gold and silver company Kimber Resources Inc. (AMEX: KBX) has gained 26% year to date, and is up 58% in the past year. At $1.67, this penny stock is worth a close look for potential investors. The stock’s 52-week range is 60 cents to $2.17.

UR-Energy (URG)

Junior mining company UR-Energy Inc. (AMEX: URG) has watched its stock increase 73% in the past 12 months. Currently trading at $1.64, URG has more than doubled its 52-week low of 73 cents, and is a great choice for penny stock investors.

Gold Reserve (GRZ)

Last on the list is exploration-stage company Gold Reserve Inc. (AMEX: GRZ). In the past 12 months, this penny stock has outperformed the broader markets to the tune of a 58% increase. More recently, GRZ is up 16% in the past six months, trading at $1.77.

As of this writing, Louis Navellier did not own a position in any of the stocks named here.