It’s possible to find many gems currently trading at less than $15 per share. Many up-and-coming companies are trading in this range. And for speculators, many such companies in this price target are particularly good bets for those seeking outsized returns.

That said, it’s important to still keep in mind that turning $5,000 into $500,000 is easier said than done. These companies would have to execute perfectly and dominate their niches for such a scenario to play out. It is more realistic that these companies deliver multi-bagger returns of a few hundred percentage points in the coming years.

That said, it’s my view that as long as you walk away with returns that significantly beat the market, you can count yourself as a winner. Here are three stocks under $15 that could help you do just that.

AST SpaceMobile (ASTS)

AST SpaceMobile (NASDAQ:ASTS) aims to build the first global cellular broadband network in space. This company is positioning itself to work directly with unmodified mobile phones. If AST can execute on their vision, this 5G satellite technology could be a game-changer. Impressively, ASTS stock has already skyrocketed by 425% since the start of May alone.

However, we need to temper our enthusiasm. AST is still in its pre-revenue stage. Accordingly, the company is bleeding cash as AST races to bring their technology to market. But with a war chest of $210 million in cash, I think they have ample runway to reach profitability before the coffers run dry.

Moreover, the company announced an agreement with AT&T (NYSE:T) to provide space-based cellular broadband until 2030. Having a deep-pocketed Tier-1 partner like AT&T in their corner is a game-changing vote of confidence. I think this is an important catalyst that could attract other major global carriers.

The risks with this stock are undeniably high. But so are the potential rewards. It’s a bold bet, but one I believe could handsomely pay off for aggressive long-term investors.

DroneShield (DRSHF)

DroneShield (OTCMKTS:DRSHF) is an Australian defense technology company that specializes in counter-drone solutions. The company’s Q1 revenues skyrocketed 10x year-over-year to AUD$16.4 million. These impressive results were driven by a blowout 2023 where the company achieved AUD$9.3 million in profits. Cash receipts also hit a record high for a March quarter at AUD$7.1 million.

I believe DroneShield is poised for explosive growth in the coming years. As drone warfare becomes increasingly advanced and widespread, the demand for effective counter-drone measures will soar. Mass-producing cheap drones gives some countries an edge. However, DroneShield’s focus on defending against drone swarms positions the company well in a critical and rapidly-growing niche.

With AUD$519 million in its sales pipeline and AUD$400 million in annual production capacity, DroneShield appears ready to capitalize on this drone mega trend. Its AI-driven detection and defeat capabilities and its recent DroneSentry-X Mk2 is making it very likely that this company will continue to land big contracts from governments.

DroneShield’s stock has already surged 721% over the past year. But I think there’s plenty of room to run ahead. In my view, this is one of the defense best stocks to buy under $15 right now.

VirTra (VTSI)

VirTra (NASDAQ:VTSI) provides virtual reality training solutions for law enforcement and other professional industries. I believe VTSI stock is a compelling long-term opportunity. That’s despite the company missing Q1 earnings estimates with revenue of $8.09 million, down 19.27% year-over-year.

Near-term budget headwinds and government continuing resolutions have impacted sales. However, VirTra’s upcoming V-XR extended reality platform launch in the coming months could be a game-changer. V-XR focuses on critical interpersonal skills training that I believe will be in high demand. As social tensions persist, and the perception of rising crime pressures law enforcement, budgets from various agencies should balloon. Accordingly, revenue and profits are expected to recover smoothly from current levels.

It’s worth noting that VirTra’s gross margins have remained strong at 67%. However, the company is willing to sacrifice some margin to secure market share with V-XR. The stock may remain volatile, having already crashed 54% from its May highs. But I see long-term potential in VirTra’s technology. And right now, I believe this is an attractive entry point before V-XR’s launch reignites growth.

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On the date of publication, Omor Ibne Ehsan did not hold (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.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.