Penny shares have a long history of delivering the kind of explosive, life-changing gains that simply aren’t available anywhere else in the market.

These tiny, under-the-radar businesses trading at tiny prices are where some of the most extraordinary wealth-creation stories begin for investors willing to take the risk. And right now, three such under-the-radar stocks have caught the eye of a few expert analysts.

So could these be among the best stocks to buy right now?

Three distinct opportunities

First up is digital media and technology group Brave Bison (LSE:BBSN). The firm helps major global brands reach audiences through social-first content, performance marketing, and media buying strategies.

It’s a bit niche. But the digital advertising market’s expanding rapidly, and Brave Bison’s been quietly assembling a diversified revenue base through both organic growth as well as disciplined acquisitions. That’s the same formula many quality compounders have used to reach FTSE 100 status – a proven strategy.

Of course, success is by no means guaranteed. Brave Bison faces stiff competition, and with a substantial level of client concentration, losing just one major account could hit revenues hard.

Then there’s lithium development company Kodal Minerals (LSE:KOD), with its flagship Bougouni project in Mali.

The structural story here’s genuinely powerful. Electric vehicle adoption’s accelerating, new lithium deposits are notoriously hard to find, and demand’s expected to significantly outpace supply over the next decade. If Kodal can bring Bougouni into production, the rewards could prove exceptional.

But that’s a significant ‘if’. Developing a mine in West Africa is a long, money-hungry process, and the lithium price has shown it can move sharply in both directions.

Finally, Made Tech‘s (LSE:MTEC) a UK technology services business helping NHS trusts, local authorities, and central government departments drag their legacy IT infrastructure into the modern era.

Public sector digitalisation is one of the most durable spending commitments in the UK across all major political parties. And Made Tech’s built genuine expertise as a trusted delivery partner in this space.

However, the risk is that government procurement’s notoriously competitive and contract-dependent. Revenue visibility’s never quite as clean as investors would like, and a tough spending review could slow the pipeline quickly.

What’s the potential profit?

The consensus price forecasts from professional analysts are genuinely exciting. But it’s important to highlight that each penny share’s tracked by less than a handful of analysts. And that means a single change of opinion can dramatically shift the outlook.

In other words, these price targets should be taken with a healthy pinch of salt.

Having said that, there’s definitely a lot to like when looking at these penny shares. So while the growth potential’s far from guaranteed and there are ample risks that invite volatility, I’m definitely going to be taking a closer look.