3 Penny Stocks To Add to Your October Watchlist
If you’re making a list of penny stocks to watch in October, there are plenty of options to choose from. The best way to begin making a penny stocks watchlist is to understand what industries could be worth watching. Right now, there is a major focus on tech penny stocks, biotech penny stocks, and reopening penny stocks to name a few.
But, the overarching theme in the stock market today continues to be Covid and the effects of the pandemic. While the obvious effects include fewer people going out and traveling, lower rates of energy consumption, and so on, we have to consider the outside-of-the-box factors as well.
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This includes economic inflation, higher rates of at-home spending on goods, and more. But, with so many areas to focus on, it can seem difficult to create a cohesive list of penny stocks to buy. However, having a full understanding of the current state of the stock market can help tremendously.
Considering that there is so much momentum in the market right now, investors should make sure to stay up to date with the news. In addition, this heightened momentum means that there is plenty of opportunities to take advantage of. With all of this in mind, here are three penny stocks to add to your October watchlist.
3 Hot Penny Stocks For Your October 2021 Watchlist
- Express Inc. (NYSE: EXPR)
- EyeGate Pharmaceuticals Inc. (NASDAQ: EYEG)
- Kosmos Energy Ltd. (NYSE: KOS)
Express Inc. (NYSE: EXPR)
Express Inc. is a penny stock that has made some incredible strides in the past few months. In the last six months and YTD, shares of EXPR stock have shot up by over 30% and 474% respectively. This brings its 12 month gain to over 650%, which is no small feat.
This company offers apparel and accessories for both men and women around the country. Its products are sold at its retail stores and on its website express.com. As of January 30th, 2021, the company had 570 stores in 46 states and Puerto Rico. It’s worth noting that we’ve discussed EXPR stock plenty of times in the past few months due to its momentum and the gains mentioned above.
At the end of August, the company reported its second-quarter results for 2021. In the report, its net sales increased 86% year over year to $458 million. Its consolidated comparable sales increased 42% compared to last year, and 3% compared to 2019. The company experienced strong growth in eCommerce demand of 28% versus 2020 and 20% versus 2019.
“Our performance across all channels in the second quarter was very strong on both the top and bottom line. We experienced an inflection point after the Fourth of July and have been driving a double-digit comp versus 2019 since that time.”
CEO of Express Inc., Tim Baxter
EXPR stock has been climbing in the market since this was released. With all of that in mind, will EXPR make it on your list of penny stocks to watch?
EyeGate Pharmaceuticals Inc. (NASDAQ: EYEG)
EyeGate Pharmaceuticals Inc. is a biotech company that is developing products for immune and inflammatory diseases. The company’s focus is on the nervous system and eyes. It currently is developing PP-001 which is in Phase 1a / 2b clinical trial for multiple diseases that affect the eye. It also has PaniDrop which is in a Phase I safety study for multiple diseases affecting the ocular surface. In the past month, shares of EYEG stock have climbed by over 12%. Although its YTD chart is disheartening, it does look like EYEG stock is making a comeback.
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On September 8th, the company completed target enrollment in its Phase 2 proof-of-concept study to evaluate PP-001 for treating ocular surface inflammation. This trial remains on track with its topline data expected in the fourth quarter of this year. The company has enrolled 21 patients in the study and is first-in-class for ophthalmology indications.
President and CEO Brian Strem said, “We believe our proof-of-concept study will further validate the clinical utility of PP-001, which has the potential to overcome off-target side effects and safety issues associated with DHODH inhibitors with greater specificity and best-in-class picomolar potency.” In the time since this update was released, EYEG stock has gone up in the market. Noting this info, will EYEG make your penny stocks watchlist?
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an oil and gas company that is based in the United States. The company’s operations include deepwater independent oil and gas exploration and production. Its focus is on the Atlantic Margins, with its primary assets being in offshore Ghana, Equatorial Guinea, the U.S. Gulf of Mexico, Mauritania, and Senegal. In the past five days and one month, shares of KOS stock have shot up by over 17% and 21% respectively. This brings its one-year gain to over 157% which is no small feat.
Back in August, Kosmos released its second-quarter 2021 results. The company reported net production of 51,600 barrels of oil equivalent per day. After the end of the quarter, Kosmos completed the Greature Tortue Ahmeyim floating production. The company also reported revenues of $384 million, and production expenses of $116 million during the quarter.
CEO Andrew G. Inglis said, “Kosmos delivered strong free cash flow in the second quarter. Through further debt reduction and EBITDAX growth, we expect leverage to continue to reduce through year-end 2021 and into 2022.” This announcement was over a month ago, and KOS stock has been climbing in the market ever since. KOS stock also has a very high volume at the moment. This has made the oil and gas company more attractive to investors. Noting all of this, is KOS stock making your watchlist in September?
Are Penny Stocks Worth Buying Right Now?
With so many penny stocks to choose from in 2021, it can be difficult to pick the best ones for your list. However, because of the wide breadth of options, finding potentially valuable penny stocks can mean the difference between gains and losses.
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- 5 Penny Stocks Under $1 To Watch Before October 2021
- Best Penny Stocks to Watch As September Comes to an End
Considering that there are hundreds to pick, investors should make sure that the companies on their lists align with their own investing style. With all of that in mind, do you think that penny stocks are worth buying right now?
