3 penny stocks that I would buy in my stocks and ISA stocks right now

I am looking for cheap UK stocks to buy for my stocks and ISA stocks right now. Here are three UK stocks that trade in penny stock territory that I am considering acquiring.

The freight giant is booming

A steady improvement in the global economy bodes well for Xpediator (LSE: XPD). Why? Well, this penny stock provides freight management services that move goods across Europe whether by air, sea or road.

It also offers warehouse and logistics services to its customers and also operates in the growing e-commerce services segment.

Xpediator shares cost 69 pence, below the £ 1 penny stock limit. And the strength of commerce following the Covid-19 crisis even caught the company itself by surprise.

The freight giant again raised its full-year profit forecast in June. It’s worth remembering that its strong performance could hit buffers if the Delta mutation continues to increase coronavirus infection rates.

But, in the long run, I think this penny stock could still prove to be a wise UK stock to buy, helped by its exposure to emerging markets in Eastern Europe.

Follow the van

Van Elle Holdings (LSE: VANL) – which trades at 45 pence a share – is the largest ground engineering contractor on these shores. In my opinion, this places it in an excellent position to take advantage of the strong rebound in the UK construction sector.

Indeed, the latest financial data this month showed its order backlog stood at £ 34.7million as of August 9. This was up from £ 26.4million at the same time in 2020.

The company’s main markets were operating near full capacity towards the end of last fiscal year (through April). And, thankfully, the bidding pipeline for its rail division has improved in recent months.

However, like any UK stock, this penny stock is not without risk. A shortage of building materials and labor in the construction market could stifle Van Elle’s recent recovery.

A penny stock for the pharmaceutical arena

I also think Sareum Holdings (LSE: SAR) might be one of the best penny stocks to buy today and hold for years. This British healthcare company specializes in the production of drugs for the treatment of cancer and autoimmune diseases. And the company is making huge strides in these therapeutic areas, as recent test updates show.

Of course, there is no guarantee that Sareum (which trades at 6.8 pence per share) can continue on its recent strong momentum in the lab.

Drug development is a notoriously difficult business, and costs can skyrocket and revenues can suffer if a product is delayed (or, in extreme cases, even scrapped).

However, I am encouraged by the recent flow of information coming from Sareum on the R&D front.

And as a result of recent fundraising, he has a decent cash flow to continue his research, which could alleviate the need to re-solicit shareholders too early for money.

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Royston Wild has no position in any of the stocks mentioned. The Motley Fool UK has no position in any of the stocks mentioned. The opinions expressed on the companies mentioned in this article are those of the author and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. At The Motley Fool, we believe that considering a wide range of ideas makes us better investors.