NASDAQ:HQY 9 January 2026 - 12 January 2026

June 29, 2026, 10:26 PM EDT. With the Australian market heading for fiscal year-end, traders are looking at ASX penny stocks as tech and global optimism fuel gains. Kalina Power Limited (A$44M market cap) operates in power generation in Australia, Canada, and the U.S. The company, still pre-revenue, turned a profit this year and reported Return on Equity of 107.4%, plus it has more cash than debt on the books. Mitchell Services Limited (A$102.8M market cap) provides drilling to miners, is debt-free, delivered 94.2% earnings growth, and boosted profit margins to 4.5% after recent board moves. Both names have good balance sheets and keep volatility in check, bringing them onto the radar as penny stock standouts. For now, these small-cap picks offer buyers a shot at growth with a focus on fundamentals.