Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at less than $1.00. Penny stocks are considered to be highly speculative and high risk, but have a large potential for profit.

In this post I am going to talk about how to use Stock Value as a Penny stocks scanner for Australia.

Stock value is a free ASX stock screener but don’t let the word free misguide you. This web site provides capabilities that most paid services lack.

To use this website to find penny stocks follow these steps:

1. Go to the website and register for free
2. Log in to the web site
3. Go to “My Research” section
4. From the “Parameter List” select last price
5. Selec “<” or “<=”
6. Add 1 in the value field
7. Click on add parameter
8. Execute your formula.

What we just did was to create a new formula/filter that filters ASX database for stocks that are less than 1 dollar.

You can add more parameters to the filter list to find more specific shares.