Penny stocks to bet on

Penny stocks to bet on DEFAULT

5 Best Penny Stocks to Buy Right Now

Investment Opportunities

Even though these are some of the best penny stocks to buy, they’re super risky. There’s no denying that. But if markets move the right way, you can make a lot of money from them.

The companies behind penny stocks are usually new-ish companies and don’t have much experience in the marketplace. Although, there are also well-known companies whose stocks have plummeted.

You also must look out for scammers. They are trying to make money by having investors invest, then cashing out at an opportune time. They make money and their investors end up with nothing.

Despite all these obstacles, you can make enormous gains with penny stocks. Plus, there are ways to stay far away from all these downfalls.

Just do your due diligence and diversify. Check out the company and what it stands for. See how long it’s been in the marketplace. Are other larger companies adopting it or taking it on as a partner? Check out the financial statements if you can. Look at the profit percentages and the return on assets.

Learn what to look for. Learn how to conduct due diligence. It is a boring process at first, but you will be so glad you learned. You will be seeing opportunities everywhere you go. You’ll catch on, and once you do; it becomes fun and effortless.

Until then, I did some homework for you and dug up some of the best penny stocks to buy right now. Check them out below…

profits from the best penny stocks to buy

Top Penny Stocks

  1. Meta Materials (Nasdaq: MMAT)
  2. Sesen Bio Inc. (Nasdaq: SESN)
  3. Trivago N.V. (Nasdaq: TRVG)
  4. eMagin Corporation (NYSE: EMAN)
  5. Exela Technologies (Nasdaq: XELA)

Why These Are the Best Penny Stocks to Buy

Meta Materials

Meta Materials invents, produces and manufactures materials that elevate performance and function. It strives to be a clean company. In fact, it received attention as a “Global Cleantech 100 company.”

It offers products and technology. Meta serves in the aerospace, health, automotive, energy and consumer electronics industries. It has many different technologies and solutions for different applications.

One of which is creating functional surfaces. It uses technology to manipulate light and radio waves in new ways.

This is one of the best penny stock to buy now as it’s already had many dramatic lows. But it’s also had many dramatic highs. And the most recent one was mid-June 2021, where it hit an all-time high. It has recently corrected, and now might be a good time to buy in.

Meta Materials’ 2020 was very bearish. Its price was around $1.23 at the beginning of the year. Then, it fell all the way down to around $0.50 before popping back up to about $6, then almost $20.

Behind this stock, the leadership also looks good, too. Everyone seems to have many years of previous success in their respective roles.

Sesen Bio

Sesen Bio is part of a great industry that is constantly growing—the medical industry. On top of that, it’s creating a solution for a problem that has plagued people for a long time.

Sesen is a company committed to saving lives and making patients’ lives better. And it’s doing this by finding therapies and solutions for cancer. Specifically, bladder, head and neck cancers.

The recent economic turmoil gave Sesen’s stock a nice boost, followed by a recent tumble into a low bear. It’s a small market cap company headquartered out of Massachusetts.

As another one of the best penny stocks to buy, the leadership looks great as well. The executives and board of advisors have successful backgrounds.

Sesen Bio stock has done well. It is volatile, but that’s typical for a penny stock. When a stock has done well in the past, odds are it will likely do well in the future.

For a list of more investing opportunities in this space, check out these healthcare penny stocks.

Trivago N.V.

Yes, this is the same trivago you use to go on vacation and find great deals. Something that may surprise you is that it’s in the tech industry. Trivago uses technology to specialize in the hotel and lodging business. And we all know how great the tech industry is for investors.

It makes sense why Trivago’s stock is falling again. The stock fell dramatically as most travel came to a stop in 2020. After things blew over, there was a large spike in price. Now, people are getting afraid again with the delta variant. Trivago’s stock price has been steadily declining since March 2021.

Although, it should do well going forward. The leadership looks good with this company. The main question to ask is whether it can hold on through this new wave. It also depends on how COVID will affect travel.

eMagin Corporation

eMagin’s stock made my list of the best penny stocks to buy even with its dramatic history. The past five years has produced a recent spike in price in 2021, and it has now come back down significantly.

eMagin is the leading U.S. producer of OLED microdisplays. OLED stands for Organic Light Emitting Diode. OLEDs are much better than LEDs in that they are self-illuminating and have a wider angle of view.

The products that eMagin offers are so tiny. They are all the same size as or smaller than a quarter. These are meant to be very close to your face- think virtual reality. That’s one of the markets it serves, too – the consumer market.

The company offers solutions for military, consumer, commercial, and medical applications. So, there’s a wide variety of markets for eMagin.

eMagin’s leadership checks out. It looks like they have lots of success behind them to keep the company strong.

To me, eMagin looks like a great penny stock to invest in.

Exela Technologies

Exela is tech company that specializes in helping businesses transform and grow. It offers automation services, provides insights and upgrades processes. These help the company grow larger and quicker. This helps make it one of the best penny stocks to buy now.

The company offers services in a wide variety of industries (I counted 14 of them). Some of these are health, travel, tech and publishing.

There are also dozens of solutions and services on its website.

As far as leadership, the management team looks good as well. Exela’s stock has been low through 2020. It made up for that this year, though. There’s been a couple of big spikes in 2021.

In Everest’s Group Report, Exela is a “major contender.” This is the fourth year in a row it has received that recognition, and Exela is proud of it. As it should be.

Beyond the Best Penny Stocks to Buy Now

These penny stocks look like great investments. But as always, do your due diligence before you buy. Even with this list of the best penny stocks to buy now, they’re volatile and risky, but they can also be great vehicles for building wealth.

If you’re looking for more investing opportunities, check out…

Also, feel free to sign up for Liberty Through Wealth below. It’s a free e-letter that’s packed with tips and tricks. You’ll hear directly from bestselling author and investment expert Alexander Green. He’s also worked as an investment advisor, research analyst and portfolio manager on Wall Street for 16 years.


About Vanessa Adelman

Vanessa Adelman graduated with an Interdisciplinary degree. She majored in Entrepreneurship, Painting, Music and Film. Shortly after, she received a copywriting mentorship with Mark Morgan Ford. Then, she earned her AWAI Verification. Now, Vanessa freelances in the financial direct response industry. She’s been investing since 2016. In her free time, she enjoys books about money and wealth. She loves being with her boyfriend, hunting, fishing and going on outdoor adventures.

Sours: https://investmentu.com/best-penny-stocks-to-buy/

Should You Invest in Penny Stocks When Money Is Tight?

They say it takes money to make money. And there's a lot of truth in that.

There are many companies out there that are worth investing in. But if you're on a budget with limited funds in your brokerage account, then you may limited as to how many stocks you can buy.

If that's the case, you may be contemplating buying penny stocks. Penny stocks are those that trade for under $5 a share, and at first glance, they might seem like a great choice when money is tight but you still want to work on building your investment portfolio. But while penny stocks might seem appealing, here's why you should think twice before acquiring them.

Person with serious expression at laptop

Image source: Getty Images.

The danger of penny stocks

The companies behind penny stocks are generally smaller, less established businesses. And while "small" and "new" don't necessarily equate to poor performance, they do point to more risk than a company that's been around for decades with a strong history of solid returns.

Not only do the companies behind penny stocks tend to be less established, but they're often not subject to the same strict reporting requirements as the companies you may be more familiar with. The result? It's harder to dig into their finances and see if they're a viable investment or not.

It's for these reasons that penny stocks are generally considered to be pretty risky despite their relatively low price point. And so if you're low on money but want to branch out in your portfolio, here's a better way to go about it.

Spend less on established companies

It may be the case that you can't afford to sink hundreds of dollars into a single share of a given company's stock. If that's the case, you can look at buying fractional shares instead.

With fractional investing, you can purchase a piece of a share of stock if a whole share is out of reach financially (or if you simply don't want to put so much money into a single share). If a company on your wish list is trading for $400 a share and you only have $100 to invest with, rather than buy a bunch of penny stocks, you can purchase one-fourth of a share of stock from the company you're interested in.

Though there's no rule stating that established, well-known companies won't come upon hard times, the reality that is strong, well-known companies are generally less risky than the companies behind penny stocks. Or, to put it another way, if a company has managed to thrive for 100 years, doesn't that make you feel more secure than a company that's been around for less than a year?

Don't fall into the penny stock trap

Penny stocks may seem like a good solution when you're looking to build out a portfolio but you don't have a lot of money to work with. But in that situation, fractional shares may be a much better bet.

If your brokerage account doesn't let you buy fractional shares, go out and find one that does. More and more brokerages are making this option available to investors, so there's no need to settle for an account that limits you to full shares only.

Sours: https://www.fool.com/investing/2021/09/27/should-you-invest-in-penny-stocks-when-money-is-ti/
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In this article, we discuss the 15 best penny stocks to buy now. If you want to skip our detailed analysis of these companies, go directly to the 5 Best Penny Stocks to Buy Now.

Many novice investors are bullish on penny stocks with growth potential for capital appreciation. All iconic stocks were once penny stocks. Investors who are early to spot the potential of small companies working on the "next big thing" end up making a lot of money. Analysts believe that some of the most attractive penny stocks are in high-growth domains like tech, biotechnology, pharmaceuticals, AI and related domains.

Is Penny Stock Investing Still Profitable?

One penny stock that skyrocketed during the COVID-19 pandemic is Novavax, Inc. (NASDAQ:NVAX). The pharmaceutical company was trading as low as $3.65 in mid-January 2020. In November 2020, at the height of the COVID-19 pandemic, the company's NVX-CoV2373 was given a Fast Track Designation by the Food and Drug Administration (FDS). Following the announcement, the stock rose to $101.20 per share. The stock currently trades for $188.59 and has 52-week high of $192. This June, analysts from Cantor Fitzgerald maintained an Overweight rating on Novavax and raised the price target to $272.

What Penny Stocks Should I Invest In?

Penny stock investing is primarily the province of extremely risk-averse investors. However, getting the proper penny stock can result in significant capital gains. For example, American multinational semiconductor developer Advanced Micro Devices, Inc. (NASDAQ: AMD) held its IPO in May 2016 at $4 per share. The company currently trades for $90.90 and has a market cap of $110.45 billion. Advanced Micro Devices, Inc. (NASDAQ: AMD) has a 52-week high of $91.26. In April, Raymond James started covering Advanced Micro Devices (NASDAQ: AMD) with an Outperform rating and $100 price target. Advanced Micro Devices (NASDAQ: AMD) recently made a $35 billion acquisition deal with Xilinx, Inc. (NASDAQ: XLNX). The deal will create one of the industry's most high-performance computing firms. The acquisition is expected to close by the end of 2021.

Another company that was once trading at a low price is disease management producer Medifast Inc. (NYSE:MED). The company was trading for $0.25 in 2001. The company currently trades for $284.22 and has a market cap of $3.34 billion. Medifast Inc. (NYSE:MED) has a 52-week high of $286.45. In May, analysts from DA Davidson maintained a Buy rating on Medifast and raised the price target to $395. Shares of MED rose 87% over the last twelve months.

The market is always teeming with penny stocks that are set to gain in the future. What separates smart investors from average investors is the ability to spot these stocks before they make headlines.

Another penny stock to watch out for is Dogness (International) Corporation (NASDAQ: DOGZ). The company produces technology-powered pet products such as Dogness Smart GPS Pet Tracker. The platform allows pet owners to track their pets in real-time positioning. In the first quarter of 2021, the company has an EPS of $0.03 per basic and diluted share as compared to $0.01 in the same period of 2020. The company recorded revenue of $12.2 million, a 6.7% increase year over year. The company currently has a market cap of $63.16 million and a 52-week high of $2.26. Shares of Dogness (International) Corporation (NASDAQ: DOGZ) rose 36% over the last twelve months. Furthermore, in January 2021, Dogness added three new distributors to aid in the Company's sustained commercial expansion driven by the high demand for intelligent and traditional pet products. The distributer will focus on Asia and Europe.

The penny stock market is experiencing some new trends that are upending long-held customs. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Photo by Jason Briscoe on Unsplash

With this context in mind, here is our list of the 15 best penny stocks to buy now. These were ranked keeping in mind trade price, business fundamentals, and the analyst ratings for each firm.

Best Penny Stocks to Buy Now

15. Zosano Pharma Corporation (NASDAQ: ZSAN)

Share Price as of July 9: $0.8451 Number of Hedge Fund Holders: N/A

Ranking 15th on the list is Zosano Pharma Corporation (NASDAQ: ZSAN). The company entered the biopharmaceutical industry in 2006 with the discovery of different medicines and other bioactive compounds to relieve patients suffering from migraine. The company specializes in the innovative use of transdermal microneedle patch technology which can create a room-temperature product that can be used to facilitate large-scale deployment of a therapeutic solution. Zosano Pharma Corporation (NASDAQ: ZSAN) through their Qtrypta technology uses microneedles to aid acute migraine. The technology is currently undergoing research to support the resubmission of the QtryptaTM (zolmitriptan transdermal microneedle device) 505(b)(2) New Drug Application (“NDA”) as a requirement of the U.S. Food and Drug Administration (FDA).

In the first quarter of 2021, The company recorded a net loss of $8.1 million, or $0.08 per share on a basic and diluted basis, compared to a net loss of $8.7 million in the same quarter in 2020, or $0.24 per share on a basic and diluted basis. The company currently has a market cap of $88.7 million. Shares of ZSAN rose 57% year-to-date. On March 15, Maxim Group maintained a Buy rating on Zosano Pharma Corporation (NASDAQ: ZSAN) and raised the price target to $2.5.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Zosano Pharma Corporation (NASDAQ: ZSAN) is one of the best stocks to buy now.

14. Celsion Corporation (NASDAQ: CLSN)

Share Price as of July 9: $1.17 Number of Hedge Fund Holders: 2

Celsion Corporation (NASDAQ: CLSN) is an integrated oncology company that specialized in the treatment of cancer patients. The company's product list includes directed chemotherapies, DNA-mediated immunotherapy, and RNA-based therapies. The company's lead product ThermaDox was discovered in 2013 and intended for the treatment of liver cancer. Celsion is currently in the early stage of its next breakthrough innovation that will fight against various types of tumors, GEN-1.

The company reported a net loss of $5.7 million or $0.09 per share for Q1 of 2021 as compared to $5.51 million or $0.20 per share during the same period of 2020. Moreover, the company currently has a market cap of $102.13 million and a 52-week high of $3.68. Shares of Celsion Corporation (NASDAQ: CLSN) jumped 65% year-to-date.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Celsion Corporation (NASDAQ: CLSN) is one of the best stocks to buy now.

13. Waitr Holdings Inc. (NASDAQ: WTRH)

Share Price as of July 9: $1.80 Number of Hedge Fund Holders: 13

Waitr Holdings Inc. (NASDAQ: WTRH) specializes in on-demand food ordering and delivery services in the U.S. market. Headquartered in Lake Charles, LA the company has gained much momentum during the COVID-19 pandemic with enforced lockdowns and social distancing, users' average daily deliveries reached 39,071 while the active user count reached over 2 million. The company recently entered a deal with Florida-based food delivery company Delivery Dudes. The definitive agreement allowed Waitr to acquire all assets of Delivery Dudes to grow its presence in the Florida area.

Waitr Holdings Inc. (NASDAQ: WTRH) currently has a market cap of $203.7 million and a 52-week high of $5.85. Further, the company reported adjusted earnings per diluted share of $0.01 as compared to $0.03 in the first quarter of 2020. The company's first-quarter 2021 revenue came in at $59.0 million, a 15% increase from $44.2 million in the same period of 2020. On March 8, analysts from Deutsche Bank upgraded Waitr Holdings Inc. (NASDAQ: WTRH) from a Hold rating to a Buy rating and raised the price target to $4.00.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Waitr Holdings Inc. (NASDAQ: WTRH) is one of the best stocks to buy now.

12. vtv Therapeutics Inc. (NASDAQ: VTVT)

Share Price as of July 9: $2.17 Number of Hedge Fund Holders: 5

vtv Therapeutics Inc. (NASDAQ: VTVT) is making its mark in the biopharmaceutical industry with its innovative medicines that specialize in utilizing functional manipulation of human proteins into safe and efficacious drugs. The company's TTP399 recently received FDA breakthrough therapy designation for the treatment of type 1 diabetes. The FDA breakthrough therapy designation is a significant step forward in the development of TTP399.

vtv Therapeutics Inc. (NASDAQ: VTVT) reported Q1 results for the year 2021 with diluted net loss per share of $0.08 as compared to $0.02 in the Q4 of the year 2020. The company also reported revenue of $1.0 million for the quarter ended March 31st a decrease from $6.4 million in the fourth quarter of 2020.The 52-week high of vtv Therapeutics Inc. (NASDAQ: VTVT) is $4.7. Shares of VTVT rose 16% year-to-date.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), vtv Therapeutics Inc. (NASDAQ: VTVT) is one of the best stocks to buy now.

11. Creative Realities, Inc. (NASDAQ: CREX)

Share Price as of July 9: $2.21 Number of Hedge Fund Holders: N/A

Creative Realities, Inc. (NASDAQ: CREX) operates under the name of Creative Realities and provides digital marketing technology solutions such as digital shopping assistance, point-of-sale transactions, and customer engagement systems. The company ranks 11th on our list of the best penny stocks to buy now. One of the most significant acquisitions of the company was in 2018, Creative Realities, Inc. (NASDAQ: CREX) acquired Allure, which is one of the biggest producers of digital signage and digital menu boards that has a wide customer base including Coca-Cola Company (NYSE: KO) and AMC theaters. Allure will provide CREX with significant expansion prospects in the theater and QSR channels.

In the first quarter of 2021, Creative Realities, Inc. (NASDAQ: CREX) revenue was $5.0 million, up $1.3 million or 35% year over year. The company currently has a market cap of $26.1 million and a 52-week high of $3.26. Shares of CREX jumped 71% year-to-date.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Creative Realities, Inc. (NASDAQ: CREX) is one of the best stocks to buy now.

10. Ideanomics, Inc. (NASDAQ: IDEX)

Share Price as of July 9: $2.59 Number of Hedge Fund Holders: 7

Ideanomics, Inc. (NASDAQ: IDEX) is a financial technology company that operates in New York, Beijing, Guangzhou, and Qingdao, China. The company is notable for its promotion of commercial electric vehicle adoption. Ideanomics, Inc. (NASDAQ: IDEX) ranks 10th on our list of the best security stocks to buy now. Earlier this year, the company acquired title and settlement solutions provider Timios Holdings Corporation. The acquisition will allow the firm to grow its database in the residential and commercial areas.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Ideanomics, Inc. (NASDAQ: IDEX) is one of the best stocks to buy now.

This April, Roth Capital initiated coverage on Ideanomics, Inc. (NASDAQ: IDEX) with a Buy rating with a $7 price target. In the first quarter of 2021, Ideanomics, Inc. (NASDAQ: IDEX) had an EPS of $0.01 which beat the analyst consensus estimate of ($0.03). The company’s revenue was $32.7 million and it has a gross profit margin of 33.1%. The stock has gained 30% year-to-date and 87% in the last twelve months.

9. Exela Technologies, Inc. (NASDAQ: XELA)

Share Price as of July 9: $2.91 Number of Hedge Fund Holders: 8

Exela Technologies, Inc. (NASDAQ: XELA) is a global provider of business process automation. The company provides workflow automation, digital mailroom, print communications, and business solutions. Exela ranks 9th on our list of the best penny stocks to buy now. In 2019, the company expanded its healthcare assets which added around $20 million of annual revenue. With these assets the company expects its healthcare business to grow faster than the industry average.

This June, Cantor Fitzgerald initiated coverage On Exela Technologies, Inc. (NASDAQ: XELA) with an Overweight rating and announced a price target of $4. In the first quarter of 2021, Exela Technologies, Inc. (NASDAQ: XELA) had an EPS of $3.66. The company’s revenue was $300.1 million, short 17% from the same period in 2020. Exela Technologies, Inc. (NASDAQ: XELA) has a gross profit margin of 22.5%. The stock has gained 34% in the past 3 months and 133% year to date.

Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Exela Technologies, Inc. (NASDAQ: XELA) is one of the best stocks to buy now.

8. Mustang Bio, Inc. (NASDAQ: MBIO)

Share Price as of July 9: $3.13 Number of Hedge Fund Holders: 10

Mustang Bio, Inc. (NASDAQ: MBIO) was founded in 2015 and headquartered in Massachusetts, United States. The company operates as a biopharmaceutical company that offers a potential cure to hematologic cancers and rare genetic diseases. It ranks 8th on our list of the best penny stocks to buy now.

The company recently received approval from the FDA to initiate Phase 1/2 in its MB-106. MB-106 is a possible treatment for Leukemia. The FDA's approval permits the company to pursue CAR-T therapy as a potentially safe and effective treatment option for B-NHL and CLL.

Just like Novavax, Inc. (NASDAQ: NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Mustang Bio, Inc. (NASDAQ: MBIO) is one of the best stocks to buy now.

This May, BTIG initiated a Buy rating on Mustang Bio, Inc. (NASDAQ: MBIO) and announced an $11 price target. In the first quarter of 2021, Mustang Bio, Inc. (NASDAQ: MBIO) had an EPS of $1.14. The company’s cash and cash equivalents and restricted cash were $130.4 million, surpassing the previous quarter’s $98.8 million.

7. Cerecor Inc. (NASDAQ: CERC)

Share Price as of July 9: $3.26 Number of Hedge Fund Holders: 10

Cerecor Inc. (NASDAQ: CERC) is a biopharmaceutical company that specializes in rare pediatric and orphan diseases. The company has various products such as CERC-801, CERC-802, and CERC-804 that are treatments for congenital diseases of glycosylation. The company ranks 7th on our list of the best penny stocks to buy now.

In 2020, Cerecor Inc. (NASDAQ: CERC) secured an all-stock transaction valued at a $16.1 million agreement with Aevi Genomic Medicine. The merger will operate under the name Cerecor which will continue to focus on pediatric orphan diseases. Cantor Fitzgerald initiated coverage on Cerecor Inc. (NASDAQ: CERC) with an overweight rating and $7 price target as of this June, while Maxim Group upgraded the stock in April to a Buy rating and announced a $7 price target.

In the first quarter of 2021, Cerecor Inc. (NASDAQ: CERC) had an EPS of $0.57. The company’s cash and cash equivalents were $38.3 million, up from $18.9 million in the previous quarter. Cerecor Inc. (NASDAQ: CERC) has gained 16% in the past 3 months and 23% year to date.

Just like Novavax, Inc. (NASDAQ: NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Cerecor Inc. (NASDAQ: CERC) is one of the best stocks to buy now.

6. Sify Technologies Limited (NASDAQ: SIFY)

Share Price as of July 9: $3.31 Number of Hedge Fund Holders: 5

Sify Technologies Limited (NASDAQ: SIFY) is a provider of end-to-end ICT solutions such as cloud and managed services and telecom services to users in India and internationally. Sify Technologies Limited (NASDAQ: SIFY) ranks 6th on our list of the best penny stocks to buy now. Earlier this year, Sify Technologies Limited (NASDAQ: SIFY) announced its plans of expanding its internet exchanges in Kolkata, Noida, Hyderabad, and Chennai through a partnership with AMS-IX.

In the first quarter of 2021, Sify Technologies Limited's (NASDAQ:SIFY) revenue was $326 million, up 6% year over year. The stock has gained 160% year to date and 278% over the last twelve months. Just like Novavax, Inc. (NASDAQ:NVAX), Advanced Micro Devices (NASDAQ: AMD), and Medifast Inc (NYSE:MED), Sify Technologies Limited (NASDAQ: SIFY) is one of the best stocks to buy now.

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Disclosure: None. 15 Best Penny Stocks to Buy Now is originally published on Insider Monkey.

Sours: https://www.yahoo.com/now/15-best-penny-stocks-buy-131148201.html
IMPORTANT! THIS $0.005 PENNY STOCK ON THE VERGE OF GOVERNMENT MERGER DEAL ❗

Penny Stocks to Watch for October 2021

Last month, I talked about how to handle investment losses gracefully, reaping the hard lessons of the stock market as you re-assess your trading goals. Almost as important as coping with loss is the way you handle your successes.

If you have invested thoughtfully in a well-researched stock (or even if you've just encountered a real stroke of good luck), you may find yourself with more money than you know what to do with. This "victory lap" period can be an intensely dangerous time for investors, however. Many forget all the hard-won wisdom they've learned down the line and start throwing their money into any stock with an exciting story.

Instead of throwing caution to the wind, put even more of your time into due diligence. Trust your instincts, but stay cautious, avoid getting greedy, and keep a close eye on those fundamentals rather than the narrative a company's Investment Relations firm is selling.

Below, you'll find some updates on some intriguing and high-potential equities, as well as a few new ones I've been looking into. May they bring you even greater profits as you proceed along your investment journey.

Some of the set-ups I describe below may no longer be relevant or intact as of the time you read this article. Please conduct your own due diligence. Many stocks mentioned here were also discussed in the Peter Leeds Newsletter. Peter may own shares in some of the investments mentioned, in which case that fact will be clearly indicated. Please note that penny stocks are notoriously volatile.

First, Some Updates

BRF S.A. (BRFS)

I introduced BRF S.A. (BRFS) to readers of this column in September, and the ticker's activity since then has been nothing short of ridiculous. We're talking intense volatility here, just as I had predicted last month—but even I wasn't expecting this much of a rollercoaster. 

The good news is that the bulls seems to have wrested control away from the bears, at least for now. As of the end of September, when I was writing this update, BRFS was ultimately up 8% over the past month and 12.35% over the past week—all on the back of zero news from the company itself.

I think it's likely that we'll see more volatility from this Brazilian food company, but I remain optimistic on its prospects given strong financial ratios and still-much-cheaper valuation than its peers. In particular, if it manages to climb above the $5.20 resistance level, BRFS shareholders could see some substantial gains ahead.

Sigma Labs, Inc. (SGLB)

In contrast to BRFS, Sigma Labs, Inc. (SGLB) had a hard September, heading up to $4 by the middle of the month but then careening downward again. This resulted in an overall 7.5% drop from the time I featured the stock in this column until the last few days of the month.

Basically, investors were mildly enthused by a contract win. However, the excitement wore off, and now Sigma Labs stock is stuck at around $3.15 levels.

Despite my disappointment that its initial climb wasn't more sustainable, I believe that it's too early to give up on SGLB. The earnings per share (EPS) figures are simply too excellent to ignore (65% growth this year, 35% growth projected for next year), and the balance sheet is rock-solid.

In addition, with 80% of manufacturers purportedly looking to increase their use of 3D printing technologies, Sigma Labs could be a major winner over the next year.

Entravision Communications Corporation (EVC)

Since I included Entravision Communications Corporation (EVC) in the June 2021 edition of my "Penny Stocks to Watch" column, it's had a fantastic run from around $4.73/share to a peak of $8.11 at the beginning of September. (That's an approximately 70% theoretical profit for readers.) Even at its current price of $7.11, shareholders are looking pretty smart right now.

In my opinion, Entravision's penny stock days are likely behind it, barring some catastrophic event. Its moving averages are pointing to a "Strong Buy" signal, and its relative strenth index (RSI) has returned to normal (i.e., not overbought) levels.

One potential issue is that EVC is doing SO well—as with, for example, its consolidated adjusted EBITDA ascending 932% over the prior-year period, as of the second quarter of 2021—that it will be difficult for the stock to continue hitting this momentum.

The kind of triple-digit revenue and EPS that Entravision is seeing could turn into what Wall Street analysts call "tough comps," meaning the stock may struggle to return to its previous highs and skittish investors could consequently abandon it if/when its results grow less exciting.

While I believe it's highly possible that EVC will continue to climb by at least 20% more over the next few months or so on the back of its global expansion plans, it looks for now as if it may be taking a breather. Lower entry points may be ahead, so watch this one closely.

Some New Ones

PaySign, Inc. (PAYS)

PaySign, Inc. (PAYS) is undoubtedly one of the strangest penny stocks I've come across in my many years combing through these low-priced equities. It quite literally deals in "blood money," providing prepaid gift cards to American plasma donation centers, which subsequently use them as incentives to bring in potential donors.

The blood garnered from American donation centers is often sold to pharmaceutical companies and then used in medical treatments for hemophilia and autoimmune disorders, as well as for chemotherapy. Two-thirds of the global blood supply comes from the United States, and sales of blood plasma products come to around $25 billion per year.

In 2020, plasma donations in the U.S. dropped around 20%, and PaySign's revenue suffered given that it makes money from the fees on its prepaid cards. As of the end of 2020, the group's sales had plummeted around 30% on an annual basis. Meanwhile, the world is facing a shortage of many important plasma-based medications, without which people will most certainly die.

Even though the delta variant is still a major concern, there are many signs that PaySign's plasma business will recover in 2021 and 2022. (In fact, the company says that donations are already recovering significantly on a month-to-month basis.) The government stimulus will end or has already ended in most states; childcare has opened back up; and people who are afraid of contacting COVID are likely already double-vaccinated.

The company is therefore expecting a large resurgence of business in the third quarter of 2021 and beyond, to the tune of "a range of $29 million to $32 million, reflecting growth of 20% to 32%, and adjusted EBITDA of $350,000 to $1.9 million," per management's comments in the second quarter 2021 earnings call.

This represents tremendous upside potential for PaySign, in my opinion, and combined with a strong balance sheet and price-to-free cash flow (P/FCF) ratio of 5.04, I believe that the company is almost certainly undervalued.

Alto Ingredients, Inc. (ALTO)

Alto Ingredients, Inc. (ALTO) is a penny stock right now, but I don't expect it to stay that way for very long. Not with projected EPS growth next year at 71.54% and a forward price-to-earnings (P/E) ratio of 5.32, both of which suggest that 2022 will be an excellent year for ALTO shareholders. And not with—in my opinion—a recession-proof suite of products involving "specialty alcohols," which are used in such diverse (and in some cases essential) goods as cosmetics, cleaning products, pharmaceuticals, animal feed, pet food, and biodiesel feedstock.

Like many of its low-priced peers, ALTO is a turnaround story. Despite its large roster of blue-chip clients—with household names like Chevron, Cargill, and Procter & Gamble among them—its five-year revenue history is dispiriting.

More recently, however, the company has been pivoting from an ethanol manufacturer to a specialty alcohols producer. Its sales have subsequently shot up over the past two quarters, climbing approximately 30% and 35%, respectively.

Unfortunately, Alto Ingredients' cost of goods sold (COGS) has also increased over those periods by roughly the same percentages. I believe that this is a necessary stage in ALTO's journey toward sustainable growth, however, as the group undertakes to transition its facilities toward producing specialty alcohols.

The full fruit of its turnaround may take a few more months to appear. But once potential shareholders get a load of all of ALTO's abundant potential, I think its prices may skyrocket—and relatively soon, at that.

Best Brokers for Penny Stocks

Interactive Brokers

Interactive Brokers' very low per-share trading commission of $.005 ($1 minimum per trade) and up-to-the-split-second real-time margin calculations are ideal for penny stock traders. IBKR Lite clients can trade penny stocks for $0.

Pros
  • Low commissions, maximum 1% of trade value for IBKR Pro, $0 for IBKR Lite

  • Streaming real-time data, including account information 

  • IBot, IB’s AI-powered online assistant, can help find features

Cons
  • Data streams on only one device at a time 

  • Traders Workstation a steep learning curve

  • IBKR Pro customers charged fees to trade, though they are low

Charles Schwab

Schwab's research pages point out the exchange on which a stock trades, which will keep you informed of the inherent risk. There are a variety of platforms available; the StreetSmart platforms have customizable charting and streaming real-time quotes. Schwab does not charge trading commissions on all stocks (including penny stocks) and ETFs.

Pros
  • Excellent screeners available on StreetSmart Edge

  • Free access to a wide array of news feeds

  • Strong customization and personalization options on StreetSmart Edge

Cons
  • The sheer number of features and reports available sometimes overwhelming

  • Transaction history for just 24 months online

  • Uninvested cash not swept into a money market fund

Penny stocks are volatile and can generate catastrophic losses. Price levels in this article are hypothetical and do not represent buy recommendations or investment advice. Keep in mind that it's your responsibility to make trading decisions through your own skilled analysis and risk management.

Peter Leeds is the author of several books, including the international bestseller, "Penny Stocks for Dummies." He and his team also issue a newsletter devoted exclusively to penny stock picks and analysis, as well as a popular YouTube channel PeterLeedsPennyStocks.

Sours: https://www.investopedia.com/updates/top-penny-stocks/

Stocks bet penny on to

2 Penny Stocks That Could Soar Soon

Penny stocks, defined as equities with share prices under $5, are ultra-risky investing vehicles. Companies with super-low share prices are often in financial peril, have a bad habit of excessively diluting shareholders, or (more plainly) their products simply don't sell very well. Healthcare penny stocks, however, can fall under a completely different umbrella than the typical low-priced equity.

Some healthcare companies, such as developmental or early commercial-stage biotechs, can go through a rough patch where their share prices are depressed simply because investors doubt their ability to bring a product to market, or to gain market share against an entrenched competitor. At the same time, these types of small biopharmas are also generally in need of large sums of capital to run costly trials, hire a sales force, and the like, resulting in regular bouts of shareholder dilution. Large capital raises, in turn, can have devastating consequences on a company's share price, at least in the short term. 

A plant growing inside a jar filled with coins.

Image source: Getty Images.

The upside is that some of these smaller pharma companies can and do strike gold with their lead product candidate, causing their share prices to rocket higher in the blink of an eye. In fact, it's no secret that many of the best-performing equities on an annual basis are small- to mid-cap drugmakers. 

Which biotech penny stocks might be gearing up for a monstrous run soon? Leap Therapeutics(NASDAQ:LPTX) and Pieris Pharmaceuticals(NASDAQ:PIRS) are two low-priced healthcare equities with the potential to deliver eye-popping returns for investors in the not-so-distant future. Here's an overview of the core value proposition of each stock.   

Leap Therapeutics: A growth story with legs

Leap Therapeutics is a small-cap cancer treatment company. The company's stock has shot up this year following a successful midstage trial update for its lead product candidate, the anti-Dickkopf-1 (DKK1) antibody or DKN-01 for short, in combination with BeiGene's (NASDAQ:BGNE) anti-PD-1 antibody tislelizumab in patients with gastric or gastroesophageal junction cancer.

The two companies have a commercialization agreement in place for DKN-01 in Asia (excluding Japan), Australia, and New Zealand. Leap, however, owns the drug's exclusive commercial rights for the rest of the world. It is presently trialing DKN-01 for a variety of other solid tumor indications, including hepatobiliary, gynecologic, and prostate cancer. Each of these indications could generate hundreds of millions in sales for the company. 

What's particularly interesting about this tiny drugmaker is that it appears to have a viable oncology asset. What's more, the biotech recently raised a significant amount of capital to increase its cash runway. Investors, in turn, shouldn't have to worry about the company repeatedly tapping the public markets for capital anytime soon.

The big picture is that Leap appears to be headed for a buyout. BeiGene has been working closely with Leap on DKN-01's development, and the dynamic duo appear headed for a merger within the next 12 months or so, assuming this drug continues to show promise in the clinic. The combination of BeiGene's immunotherapy tislelizumab and Leap's DKN-01, after all, exhibited an impressive response rate in first-line patients with gastric or gastroesophageal junction cancer. That's not the type of asset that partners generally let out of their grasp.  

Pieris Pharmaceuticals: An ultra-risky bet on an entirely new class of medications

Pieris Pharmaceuticals is an oddball in the world of biotech. Instead of licensing drug candidates from academia or other pharma companies, the company has developed its own entirely new class of therapies called Anticalins, which are proteins that are much smaller than your typical antibody therapeutics. As a result, these compounds have the potential to offer far greater tissue penetration, and they can be delivered via non-injectable mechanisms such as inhalation. Pieris' tech is so intriguing that the biotech has already signed partnership agreements with pharma heavyweights such as AstraZenecaSeagen, and Roche

What's the risk? No one knows for sure if these novel proteins will perform as expected within their target indications, or if they will show an acceptable safety profile in a large late-stage trial. That's why Pieris' market cap is currently a mere $313 million at the time this was written, despite interest from multiple big pharmas in their drug development platform.

Moreover, the company's most advanced candidate -- a drug being evaluated with AstraZeneca for moderate to severe asthma -- remains in the fairly early stages of development.

What's the upside? Novel medications fail on the regular. Potential investors should keep that fact squarely in mind with this stock. But there is an outside chance that this largely unknown drugmaker could become one of the best-performing stocks of the current decade if this approach works. Therefore, this small-cap biotech stock could indeed be worth buying before more data become available next year. That said, this is an ultra-risky stock, meaning that investors shouldn't buy more than they can afford to lose. 

Sours: https://www.fool.com/investing/2021/10/14/2-penny-stocks-that-could-soar/
How I Find the BEST Penny Stocks to Trade

What are penny stocks?

Penny stocks are small companies whose shares trade for a relatively low price. They may look cheap compared to popular stocks such as Amazon or Apple, but often they’re much more expensive, despite their lower price tag. Penny stocks are among the market’s most dangerous stocks, so you may pay a much greater price than you first expect, including potentially losing all of your investment.

Here’s what a penny stock is and why it’s so risky to investors looking to grow their wealth.

What is a penny stock?

The exact definition of a penny stock varies, but typically they include stocks trading for less than $5 per share all the way to down even fractions of a penny. But usually when people say penny stocks they’re talking about those that trade for less than a dollar. Despite this lower price, penny stocks often don’t trade as many shares as their higher-priced rivals.

Penny stocks are not usually listed on major exchanges such as the New York Stock Exchange or Nasdaq. Instead, they’re often traded on what’s called the pink sheets or the over-the-counter (OTC) market. Shares listed here are often very risky, though sometimes a hidden gem may lie in wait.

Penny stocks are highly speculative, and include some of the market’s smallest companies, including those that have been recently established. But penny stocks also include some of the market’s shadiest companies, such as outright frauds and other pump-and-dump scams, a fraud in which paid promoters tout a stock to get it to rise so that insiders can sell at a higher price.

Because they’re not listed on a major exchange, the firms behind penny stocks usually aren’t as transparent about their financials or governance as those on an exchange. And if they’re small enough, the Securities and Exchange Commission (SEC) doesn’t require financial disclosure, either.

All of these factors make penny stocks much more risky than an exchange-listed stock.

Can you make money with penny stocks?

Yes, you can make money with penny stocks, but you can also make money playing the lottery, though you probably won’t. To make money in penny stocks, you have to be able to separate the good companies from the bad, and that means you have to be able to analyze companies. If you don’t have that skill, the chances of you doing well in penny stocks is almost zero.

Your best bet is keeping up with the financial stats, emerging news and any SEC filings to help gather details. You may also want to contact the company for further info, including their financial data. It’s not a good sign if the company won’t give it to you.

For the most part, you’ll want to search for the following types of companies:

  • Promising start-ups with an inventive idea or clever business plan
  • Those announcing a profitable partnership or endeavor
  • Those with strong fundamentals and the ability to compete in their industry

Unfortunately, these traits are also what the pump-and-dump scams highlight, promising a breakthrough in whatever the day’s hot new technology is (3D printing, biotech, solar). They ensnare newer investors with promises of wealth from almost-on-the-verge “blockbusters.”

In addition to doing your own research, find someone who knows the industry well and ask them to mentor you on how to find the best penny stocks. You’ll be much better off if you are able to learn from someone else’s mistakes instead of making them all on your own.

“Investors in penny stocks should be prepared for the possibility that they may lose their whole investment,” according to the SEC. “Or an amount in excess of their investment if they purchased penny stocks on margin.”

If you can’t understand the business, then you probably shouldn’t invest.

3 common myths about penny stocks

Many of the myths surrounding penny stocks are dangerous and simply untrue, helping investors make critical mistakes that could cost them serious money.

Here are the most common ones:

1. “Penny stocks have high potential, but they’re undiscovered.”

A few penny stocks may have legitimately high potential, but the vast majority of stocks are trading so cheaply because they’re terrible businesses or simply fraudulent. Penny stocks are much more likely to be a poor company on the verge of disappearing than a hidden gem.

2. “If the stock goes up just $1, I’ll double my money.”

New investors say this line all the time. Or perhaps a similar one, “The stock is 10 cents now, and if it goes up to a $1, I’ll have 10 times my money.” While the math is fine, the logic isn’t based on how the market actually works.

Over time stocks rise and fall based on their profitability and investors’ expectations of their future profitability. For a stock to be worth 10 times its price, it has to show the market a lot of future potential. But penny stocks almost never show this kind of potential. Sure, they may spike from time to time, but they won’t enjoy the kind of sustained increase that can make you rich.

3. “This $1 stock is cheaper than that $100 stock.”

When new investors find penny stocks, many love that they can buy thousands of shares, while they can afford only a few shares of a high-priced stock. If the stock is trading at $0.25, for example, they could buy 1,000 shares for only $250. A low price makes it appear the stock is cheap, but it rarely is. Then they might assume that if the stock goes up $1, they’ll make $1,000.

However, professional investors measure how expensive a stock is by comparing it to its earnings (the P/E ratio) or other similar metrics. That is, what your share in the earnings of the business is for the price that you pay for that share. On this basis, a profitable company whose stock trades at $200 is much cheaper than an unprofitable penny stock at any price.

Many people who invest in penny stocks lose their money altogether because they start with these mistaken beliefs and their penny stock never recovers.

Bottom line

If you’re interested in penny stocks, you’ll need to be excellent analyst who can pick the good businesses from the bad businesses. Plus you have to avoid the out-and-out frauds entirely. Savvy investors stick to businesses they can understand or instead opt to invest in diversified index funds, where they don’t need to understand the businesses in order to beat the pros.

Learn more:

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

Sours: https://www.bankrate.com/investing/what-are-penny-stocks/

Now discussing:

In this article, we discuss the 15 best penny stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Penny Stocks to Buy Now.

Retail investors who do not have the billions of dollars that institutional investors have access to often look towards penny stocks as an entry into the world of investing. This strategy often proves to be fruitful since research on small companies and the growth potential they offer is a tried and tested way of understanding how the market functions. Although it is not often that penny stocks lead investors to the next Amazon.com, Inc. (NASDAQ: AMZN) or Facebook, Inc. (NASDAQ: FB), they do offer the chance for short-term handsome returns owing to their volatility.

To put this into perspective, consider how market giants like GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA) were all in the penny stock range not too long ago. These stocks have gained 3,277%, 590%, 54%, 3,043% over the past twelve months, respectively, representing the explosive growth potential that good penny stocks can offer to those investors who are willing to take the time to analyze small companies.

Some of the best penny stocks to buy now include Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), among others discussed in detail below. According to news platform CNBC, the explosion in stock volumes over the past two years has also helped push penny stocks higher. A CNBCreport from January 2021 highlighted how the average daily volume of the market has gone up from 7 billion in 2019, to almost 11 billion in 2020, and stood at over 14 billion at the beginning of 2021.

The influx of retail investors and the equities they favor have had a huge impact on the overall market dynamics. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Photo by Kaleidico on Unsplash

Our Methodology

With this context in mind, here is our list of the 15 best penny stocks to buy now. We chose stocks of companies working on products and services having long-term growth potential.

We also took into account analyst ratings and research reports to gauge market sentiment for these stocks. These stocks were ranked according to the number of hedge fund holders in each stock. Even though hedge funds are not big fans of penny stocks, data of 873 hedge funds tracked by Insider Monkey was used to gauge hedge fund sentiment around each company.

All the stocks mentioned below have a share price below $5.

Best Penny Stocks to Buy Now

15. PowerBand Solutions Inc. (OTC: PWWBF)

Number of Hedge Fund Holders: N/A

PowerBand Solutions Inc. (OTC: PWWBF) is a technology company that markets software and financing solutions. It is placed fifteenth on our list of 15 best penny stocks to buy now. The firm is based in Canada and primarily serves the automotive industry. In earnings results for the first half of the fiscal year, posted on August 18, the company reported a revenue of $7.6 million, up more than 645% compared to the revenue over the same period last year. It has a market cap of $138 million and posted $2.3 million in revenue in 2020.

Some of the products marketed by PowerBand Solutions Inc. (OTC: PWWBF) include LiveNet Auction, Marketplace Auction, Dynamic Appraisal, PowerDesk, IntellaCar, and DRIVRZLane, among others. It is headquartered in Burlington.

On July 12, PowerBand Solutions Inc. (OTC: PWWBF) reported a 31% increase in June gross revenue. The growth was attributed to the increase in lease originations that grew from just 69 in late 2020 to over 216 in the next six months.

Just like Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), PowerBand Solutions Inc. (OTC: PWWBF) is one of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA).

14. HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT)

Number of Hedge Fund Holders: N/A

HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) is ranked fourteenth on our list of 15 best penny stocks to buy now. The company operates from Canada and engages in cryptocurrency mining operations. It was founded in 1987 as Leeta Gold Corp but changed the name to HIVE Technologies in 2017 to concentrate on crypto mining. On August 13, the firm announced that it had ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies as part of a plan to upgrade mining equipment. The share price surged 6.4% after the announcement.

On July 30, HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) announced that it had achieved an annual run rate of $200 million based on the current prices of Bitcoin and Ethereum. The firm also revealed the purchase of 4,000 miners for the purpose.

HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) has a market cap of $1 billion and posted close to $30 million in revenue last year. The shares were approved for listing on the NASDAQ exchange in June this year.

13. Verb Technology Company, Inc. (NASDAQ: VERB)

Number of hedge fund holders: 3

Verb Technology Company, Inc. (NASDAQ: VERB) is placed thirteenth on our list of 15 best penny stocks to buy now. It is a Utah-based software firm. The company is one of the most mentioned stocks on Reddit forums. From June to July 15, the stock registered an incredible 160% rally before taking a breather in the coming weeks.

On July 23, investment advisory Alliance Global reiterated a Buy rating on Verb Technology Company, Inc. (NASDAQ: VERB) stock and raised the price target to $4 from $2.75, underlining that the firm was over the development stage and now entering monetization phase.

At the end of the second quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $710,000 million in Verb Technology Company, Inc. (NASDAQ: VERB), the same as in the previous quarter worth $195,000.

12. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)

Number of Hedge Fund Holders: 6

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is Greece-based international shipping company. It is ranked twelfth on our list of 15 best penny stocks to buy now. It operates a fleet of 11 Capesize vessels. On August 11, the share price of the firm soared by more than 3% after the board announced plans for a share repurchase worth $17 million. The firm has a market cap of $183 million and posted $63 million in revenue last year. The firm primarily engages in the transportation of iron ore and coal.

In March, investment advisory Noble Capital upgraded Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) stock to Outperform from Market Perform with a price target of $1.50, noting that the pullback in share price of the firm was an attractive buying opportunity.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $3.9 million in Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), up from 3 in the previous quarter worth $2.1 million.

11. Ideanomics, Inc. (NASDAQ: IDEX)

Number of Hedge Fund Holders: 6

Price as of August 13, 2021: $2.40

Ideanomics, Inc. (NASDAQ: IDEX) is a New York-based company that concentrates on providing fintech services for the adoption of electric vehicles. It is placed eleventh on our list of 15 best penny stocks to buy now. In earnings results for the second quarter, posted on August 16, the company reported a revenue of more than $33 million, up 606% compared to the revenue over the same period last year and beating market estimates by $2.2 million. The gross profit over the period was $9.3 million, representing a gross margin of 28%.

In April, investment advisory Roth Capital assumed coverage of Ideanomics, Inc. (NASDAQ: IDEX) stock with a Buy rating and a price target of $7, highlighting that the firm was targeting emerging opportunities in the electric vehicle space.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $34 million in Ideanomics, Inc. (NASDAQ: IDEX), down from 7 in the preceding quarter worth $20 million.

In addition to Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), Ideanomics, Inc. (NASDAQ: IDEX) is one of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA).

10. Electrameccanica Vehicles Corp. (NASDAQ: SOLO)

Number of Hedge Fund Holders: 7

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) is ranked tenth on our list of 15 best penny stocks to buy now. The firm is based in Canada and makes and sells electric vehicles. In earnings results for the second quarter, posted on August 11, the company reported a revenue of $0.3 million, beating market predictions by $0.21 million. In late June, the company had filed for a mixed shelf offering to raise $750 million for use in sales, marketing, capital, and product development expenditures.

On May 12, Electrameccanica Vehicles Corp. (NASDAQ: SOLO) announced the start of construction on a new assembly and technical center in Arizona that is spread over 18 acres of land and includes a manufacturing plant as well.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Electrameccanica Vehicles Corp. (NASDAQ: SOLO) with 1 million shares worth more than $4.7 million.

9. Exela Technologies, Inc. (NASDAQ: XELA)

Number of Hedge Fund Holders: 7

Exela Technologies, Inc. (NASDAQ: XELA) is placed ninth on our list of 15 best penny stocks to buy now. It is based in Texas and markets digital processing solutions. On August 11, the firm announced that it would be extending a strategic agreement signed with a healthcare firm that utilized the technology and operational capability of the former in a contract worth $7.5 million. The firm has a market cap of $165 million and posted more than $1.2 billion in revenue last year. The short interest on the stock is 18.9%.

On June 2, investment advisory Cantor Fitzgerald initiated coverage of Exela Technologies, Inc. (NASDAQ: XELA) stock with an Overweight rating and a price target of $4, noting the improvement in basic business fundamentals of the firm.

At the end of the second quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $7.5 million in Exela Technologies, Inc. (NASDAQ: XELA), down from 8 in the previous quarter worth $10 million.

8. eMagin Corporation (NYSE: EMAN)

Number of Hedge Fund Holders: 6

eMagin Corporation (NYSE: EMAN) is a New York-based company that makes and sells products used by the virtual imaging industry. It is placed eighth on our list of 15 best penny stocks to buy now. In earnings results for the second quarter, posted on August 12, the company reported earnings per share of $0.00, beating market predictions by $0.03. The revenue over the period was $6.3 million, down close to 18% year-on-year and missing estimates by $1.4 million.

In March, investment advisory HC Wainwright maintained a Buy rating on eMagin Corporation (NYSE: EMAN) stock and raised the price target to $5 from $2, noting that the firm was well positioned for the rest of the fiscal year.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $4 million in eMagin Corporation (NYSE: EMAN), down from 9 in the preceding quarter worth $5.9 million.

Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ) are some of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA), in addition to eMagin Corporation (NYSE: EMAN).

7. Sesen Bio, Inc. (NASDAQ: SESN)

Number of Hedge Fund Holders: 10

Sesen Bio, Inc. (NASDAQ: SESN) is a Cambridge-based biotechnology company that focuses on the development of targeted fusion protein therapies for cancer patients. It is ranked seventh on our list of 15 best penny stocks to buy now. The firm was founded in 2008. It has a market cap of $295 million and posted $11 million in revenue last year. The short interest on the stock is over 10% and the volume is 7,053,750. The company was formerly known as Eleven Biotherapeutics but changed the name in 2018.

On August 17, investment advisory Canaccord reiterated a Buy rating on Sesen Bio, Inc. (NASDAQ: SESN) stock but lowered the price target to $3 from $7, noting that the firm was expected to address concerns about a drug in a regulatory meeting soon.

At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $46 million in Sesen Bio, Inc. (NASDAQ: SESN), down from 11 in the preceding quarter worth $35 million.

6. Trivago N.V. (NASDAQ: TRVG)

Number of Hedge Fund Holders: 10

Trivago N.V. (NASDAQ: TRVG) is placed sixth on our list of 15 best penny stocks to buy now. The firm is based in Germany. It owns and operates a hotel search platform. The firm hosts information about 5 million hotels and offers access to local websites and applications in 32 different languages. In earnings results for the second quarter, posted on July 29, the firm reported a revenue of €95 million. In the corresponding period last year, the revenue had been slightly more than €16 million.

On May 5, investment advisory Mizuho maintained a Buy rating on Trivago N.V. (NASDAQ: TRVG) stock and raised the price target to $4 from $2.70, noting that an improved outlook for the firm was expected in light of lifting of travel restrictions.

At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $67 million in Trivago N.V. (NASDAQ: TRVG), the same as in the preceding quarter worth $84 million.

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