7 Best Nanotech Penny Stocks to Buy

4. NanoXplore Inc. (OTCQX:NNXPF)

Share Price as of October 7: $1.82

Number of Hedge Fund Holders: N/A

NanoXplore Inc. (OTCQX:NNXPF) is a basic materials company that manufactures and supplies graphene powder for industrial markets. It offers graphene-based solutions, including GrapheneBlack powder and graphene-enhanced masterbatch pellets. It also provides customers with standard and custom graphene-enhanced plastic and composite products in transportation, packaging, electronics, and other industrial sectors.

As demand for Graphene is rising across various sectors, NanoXplore Inc. (OTCQX:NNXPF) is in a strong position to take advantage of this trend as a top graphene provider. The unique electrical characteristics and the remarkable strength of Graphene, which is 200 times stronger than steel and 5 times lighter than aluminum, have made it a highly sought-after material.

Fortune Business Insights anticipates that the global graphene market will experience significant growth, increasing from $432.7 million in 2023 to nearly $3 billion by 2030, presenting tremendous opportunities for the company.

As NanoXplore Inc. (OTCQX:NNXPF) expands its production capabilities, it appears well-equipped to benefit from this graphene boom. Amid the strong demand for Graphene, the company delivered solid fiscal fourth-quarter results with record revenues of $38.13 million, up 14% year over year. Adjusted gross margin* on customer revenues improved to 23.6% from 20.8%. Full-year revenue also hit record highs of $130 million.

NanoXplore Inc. (OTCQX:NNXPF) has shown strength in tough market environments, hitting new sales records and growing its profit margin, which affirms why it is one of the best nanotech penny stocks to buy. As NanoXplore moves through the upcoming fiscal year, investors will pay close attention to its spending on new projects and how these efforts affect its financial results.