U Power Limited, Odyssey Marine Exploration, and Beasley Broadcast Group are the 3 Penny Stocks to watch on April 9, based on TipRanks’ Penny Stock Screener tool. These stocks are usually priced at $5 or below and typically belong to companies with a market capitalization under $300 million.
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The Penny Stock Screener allows investors to identify stocks by applying a variety of filters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
We leveraged the tool to identify the top three penny stocks with the highest Dollar Volume as of market close on April 8. Dollar Volume refers to the total value of shares traded in a day, calculated by multiplying the number of shares traded by the stock’s price.
U Power Limited (UCAR) – China-based U Power Limited is a provider of comprehensive electric vehicle (“EV”) battery-swapping solutions. On April 8, UCAR had a Dollar Volume of $723.47 million, while its stock price rocketed by 331.6%.
Yesterday, the company announced that it has secured $3.19 million in subscription agreements from strategic investors. Multiple purchasers committed to acquiring 2.9 million Class A shares at $1.10 each under the deal. The funds will be used to expand core operations and speed up rollout of its battery-swapping technology in key markets including Thailand and Hong Kong.
Odyssey Marine Exploration (OMEX) – Odyssey Marine specializes in deep-ocean exploration. It discovers, confirms, and develops seafloor minerals like nodules for batteries and phosphate for fertilizers. On Wednesday, OMEX had a Dollar Volume of $322.89 million, accompanied by a stock price surge of 50.3%.
Shares jumped after the company announced a merger with American Ocean Minerals Corporation. The deal will form a $1 billion company operating as American Ocean Minerals Corporation under the “AOMC” stock ticker. The merger includes Odyssey selling its Mexican phosphate asset, PHOSAGMEX. This removes $60 million in liabilities from the balance sheet.
Beasley Broadcast Group (BBGI) – Beasley Broadcast Group owns and operates U.S. radio stations. It delivers news, music, sports, and entertainment audio, while growing into digital marketing and events. Yesterday, BBGI had a Dollar Volume of $296.79 million, while its shares rallied 80.6%.
Shares surged following the release of Q4 FY25 results and a new debt restructuring plan. The debt exchange with second lien bondholders cuts second lien debt by 50% and repays $15 million of first lien debt. After closing by the end of April subject to bondholders’ approval, total debt will reduce from $220 million to $110 million.