3 Penny Stocks That Could Make a Big Comeback by the End of Q2


  • Gamblers should turn to these enticing penny stocks to rebound.
  • Stereotaxis (STXS): Stereotaxis may soon reach a critical support level.
  • Augmedix (AUGX): Augmedix’s medical device specialty offers upside potential.
  • Lucid Diagnostics (LUCD): Lucid’s diagnostics business could overcome its torrential red ink.
Penny Stocks to Rebound - 3 Penny Stocks That Could Make a Big Comeback by the End of Q2

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Let’s just get something straight off the bat – penny stocks to rebound are risky. They’re incredibly treacherous in terms of both short-term downside and longer-term damage to your portfolio. You’re going to read a full disclosure at the end of this article. However, let me be clear: this is a gamble, not an investment.

At the same time, we know that gambling is popular; otherwise, we wouldn’t have thriving gaming ecosystems like Las Vegas or Atlantic City. So, if you’re already committed to speculating, you might as well speculate the smart way.

Each of these penny stocks to rebound have incurred some magnitude of red ink over a given timeframe. However, the volatility could expand the potential upside. If you’re ready, below are enticing ideas to consider.

Stereotaxis (STXS)

A concept image of a penny sitting on a stock chart
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Falling under the broader healthcare sector, Stereotaxis (NYSEAMERICAN:STXS) works in the medical instruments and supplies space. Specifically, it designs, manufactures and markets robotic systems, instruments and information systems for the interventional laboratory market in the U.S. and internationally. With so much attention paid to the marriage of technology and healthcare, STXS commands much potential.

Wall Street recognizes this reality, let me be clear about that. Since the beginning of this year, STXS stock gained almost 38% of equity value. However, in the past five sessions, shares slipped nearly 10%. However, the price is approaching a support line that’s prominent around the $2.45 level. So, from a technical viewpoint, Stereotaxis may be one of the penny stocks to rebound.

Financially, the case is even more enticing. Covering experts are looking for fiscal 2024 revenue to land at $30.6 million. That’s up 14.3% from last year’s print of $26.77 million. In the following year, the company could generate sales of $43.54 million or 42.3% up from projected 2024 revenue.

Oh yeah, analysts rate shares a unanimous strong buy with a $4.67 price target, implying 81% growth potential.

Augmedix (AUGX)

Pennies in a jar on top of a background of blurred pennies. Penny stocks.
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Another healthcare player, Augmedix (NASDAQ:AUGX) specializes in the sector’s information services space. Per its public profile, the company provides remote medical documentation solutions and live clinical support services. Specifically, its platform offers Augmedix Live which provides synchronous medical note documentation and point-of-care support, among other products.

Generally speaking, Wall Street recognizes the tremendous long-term potential of AUGX stock. Over the past 52 weeks, shares have gained almost 78% of market value. However, since the start of the current year, AUGX fell more than 45%. Needless to say, that’s an ugly print, thereby requiring extreme vigilance. Still, it could qualify as one of the penny stocks to rebound.

Covering experts anticipate that fiscal 2024 revenue could hit $61.15 million. That’s up 36.3% from last year’s tally of $44.85 million. In addition, the top line could expand to $85.1 million in fiscal 2025. That would be up 39.2% over projected 2024 sales.

Lastly, analysts peg shares a unanimous strong buy with a $6.10 average price target. That implies almost 92% upside potential, with the high-side target landing at $8.

Lucid Diagnostics (LUCD)

Stacks of pennies

Focusing on the medical devices subsector, Lucid Diagnostics (NASDAQ:LUCD) aims to serve patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer. The company’s flagship product is called EsoGuard Esophageal DNA Test, which is performed on samples acquired via the provided collection device. Since cancer screening is a massive market, LUCD enjoys long-term potential.

Nevertheless, Wall Street is skeptical about Lucid. Since the start of the year, LUCD suffered a decline of more than 42%. Over the past five years, the security cratered to the tune of more than 91%. Obviously, that’s not going to endear Lucid to conservative investors or even moderate speculators. However, for the most daring, LUCD could rank among the penny stocks to rebound.

It’s all in the financial projections. Experts are calling for fiscal 2024 revenue to clock in at $5.73 million. If the forecast holds true, it would represent a 136% upswing from last year’s haul of $2.43 million. Also, fiscal 2025 sales could hit $16.48 million, implying nearly 188% growth over projected 2024 sales.

Finally, analysts rate LUCD a unanimous strong buy with a $3 target, projecting 274% upside potential.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More: Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/3-penny-stocks-that-could-make-a-big-comeback-by-the-end-of-q2/.

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