3 US Penny Stocks With Market Caps Over $80M To Watch

As the stock market continues to evolve, investors are always on the lookout for undervalued opportunities. Penny stocks, defined as stocks trading under $5, can offer significant upside potential if they are undervalued and have strong fundamentals. In this article, we will explore three US penny stocks with market caps over $80M that investors should watch.



1. Archer Aviation (ACHR)
Archer Aviation is an electric vertical takeoff and landing (eVTOL) aircraft manufacturer, focusing on urban air mobility solutions. With a strong order backlog of $3.5 billion and a global market presence, Archer is well-positioned for growth. The company's liquidity buffer of $625 million provides flexibility for investments in growth and expansion. Analysts have a 12-month price target of $15.00, which is 150% higher than the current price, suggesting significant upside potential.
2. Bitfarms (BITF)
Bitfarms is a cryptocurrency mining company, focusing on Bitcoin mining. With a zero-debt balance sheet and a liquidity buffer of $118 million, Bitfarms has strong fundamentals. The company is targeting a hash rate capacity increase to 21EH/s by the end of 2024, which will drive revenue and cash flow growth. Analysts have a 12-month price target of $10.00, which is 100% higher than the current price, suggesting significant upside potential.
3. Tilray Brands (TLRY)
Tilray is a global cannabis-lifestyle and consumer packaged goods company. With a large addressable market for recreational and medicinal cannabis, as well as the craft beer business, Tilray is well-positioned for growth. The company's strategic infrastructure in the United States supports aggressive cannabis expansion on potential federal-level legalization. Analysts have a 12-month price target of $10.00, which is 100% higher than the current price, suggesting significant upside potential.

These penny stocks offer attractive entry points for investors seeking stability and growth, with undervalued valuations compared to their peers and the broader market. However, it is essential to conduct thorough research and consider other factors, such as business fundamentals, market conditions, and risk tolerance, before making any investment decisions.