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5 penny stocks to buy right now

Hand holding pound notes

I’m searching for the best dirt-cheap UK shares to make big money in 2022 and beyond. Here are five top penny stocks on my radar.

SIG (trades at 47p)

I’ve bought building products suppliers to capitalise on strong homebuilding activity in Britain and continental Europe. Brickmaker Ibstock is a UK share I’m convinced will make me a tidy profit over the next decade.

I think SIG could be a wise stock to buy too. This business is best known for selling insulation and roofing products on these shores as well as in France, Germany, Poland, Ireland and the Benelux countries. I like the geographical diversification SIG provides and would buy it even though demand could suffer if the coronavirus crisis affects building sites again.

Abingdon Health (trades at 30p)

It seems a long and bumpy battle against Covid-19 is in the works. Learning to co-exist with coronavirus seems to be more likely rather than total eradication, scientific research increasingly shows. This means demand for Abingdon Health’s services could remain rock-solid.

The UK share makes rapid lateral flow tests and has made big investments in manufacturing to meet future orders. Competition is fierce, but I’m confident Abingdon could make big bucks in its enormous market.

Speedy Hire (trades at 63p)

Speedy Hire might not have things all its own way if building product costs continue to soar. This could hamper construction projects and hit demand for its rented tools and other equipment. But as things stand, conditions are looking ultra rosy for this cheap UK share.

Revenues rocketed more than 28% between April and September, thanks to strong infrastructure and construction sectors and an equally strong home renovations market. Speedy Hire is taking steps to improve its digital operations and launch trials in B&Q hardware stores to keep sales moving upwards too.

Netcall (trades at 69p)

The rapid growth of automation is something I’d like to grab a slice of. I’m thinking of doing this by buying Netcall shares, a tech company whose software enables its customers to automate their processes and improve the customer experience.

It’s doing a roaring trade right now and demand for its cloud-based Liberty product is particularly strong (cloud revenues soared 26% in the 12 months to June). I’d buy this high-growth penny stock even though it faces massive competition from larger IT services players.

Angling Direct (trades at 54p)

Fishing is a £4bn industry in the UK and growing rapidly. According to the Angling Trust, rod licence sales soared 17% year-on-year in 2020/2021. Meanwhile, sales of fishing lines, bait and related products have gone through the roof.

The hobby’s resurgence is being tipped to endure too and this bodes well for Angling Direct, the one-stop-shop for all-things angling. I especially like the investment this penny stock has made digitally to capitalise on the e-commerce boom. I’d buy it even though supply chain problems could remain an issue in 2022.

The post 5 penny stocks to buy right now appeared first on The Motley Fool UK.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.