7 Energy Penny Stocks on Robinhood For Your October Watchlist
Robinhood can be a great resource to find potentially valuable penny stocks to buy. But, with so much movement in the stock market, those who invest in penny stocks need to stay on their toes. In addition, investors need to consider the current state of the stock market.
While Robinhood itself is not necessarily the go-to spot for researching penny stocks, it can be a great way to gauge investor interest. And given that so many investors use Robinhood to buy penny stocks, it’s worth keeping track of. In addition, there is a great deal of bullish sentiment surrounding the energy industry right now.
Why Energy Penny Stocks Are Gaining Right Now
If we look at trending energy penny stocks like Denison Mines Corp. (NYSE: DNN), we see a five-day gain of over 6% with a YTD gain of over 125%. This is highly substantial considering that we don’t tend to see gains like this with energy penny stocks in such a short time frame.
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If you’re not familiar, we are currently in the midst of a global energy crisis. Lower Covid cases mean that the demand for gas has shot up dramatically as people return to work, school, and travel. As a result, heightened demand has led to higher oil prices and therefore sizable gains with penny stocks in the energy industry.
“The energy crisis can exist for the next several years. I think a super cycle in energy has started and will continue for several years. Energy stocks are very well poised to generate big returns.”
Sumeet Rohra, a fund manager at Smartsun Capital Pte.
While no one can predict the future, there’s no doubting the sizable bullish sentiment in the energy industry. And as a result, many investors are paying attention to energy penny stocks. It’s worth noting that this article is a continuation of ‘Energy Penny Stocks Are Exploding, Here’s 3 You Need to Know’, so if you haven’t read that, it’s worth taking a look. Considering this, let’s take a look at four more energy stocks to watch on Robinhood right now.
4 More Energy Penny Stocks on Robinhood to Watch Right Now
- Superior Drilling Products Inc. (NYSE: SDPI)
- Pedevco Corp. (NYSE: PED)
- ENGlobal Corp. (NASDAQ: ENG)
- American Resources Corp. (NASDAQ: AREC)
Energy Penny Stocks to Watch: Superior Drilling Products Inc. (NYSE: SDPI)
One of the bigger gainers of the day so far is Superior Drililng Products Inc. By midday, shares of SDPI stock had shot up by over 50% to almost $2.30 per share. This shows a five-day gain of almost 180% and a one-year gain of over 470%. Gains like this are not unheard of with penny stocks, however, they are always exciting and worth taking note of.
In an announcement made by OPEC+ today, the group stated that it agrees to stay with the existing pact to increase oil output by 400,000 BPD next month. This could be one of the major reasons for bullish sentiment with SDPI and in the energy sector in general right now.
While no news has come out recently specific to SDPI stock, we can take a look at some announcements from the past few weeks. In its Q2 2021 report, the company stated that revenue increased to $3.4 million, which is a 40% sequential gain.
“We believe our strong growth this quarter clearly demonstrated the value of our Drill-N-Ream wellbore conditioning tool as well as the growing demand for our manufacturing capabilities. The DNR is enabling drilling innovation…
While we are not yet back to pre-pandemic levels, we continue to gain market share as markets recover. We expect that we will continue to grow through 2021 and be back on track in 2022 to resume the growth plans we had expected at the end of 2019.”
Troy Meier, Chairman, and CEO of Superior Drilling
This is all positive news, and in combination with the current energy investing environment, could show why SDPI stock is up right now. Considering this, is it worth adding to your list of penny stocks to watch?
Pedevco Corp. (NYSE: PED)
While PED stock is down today, shares have risen by a very respectable 42% in the past five days. This brings its one-month gain to over 76%, which is impressive and shows the bullishness of the energy sector right now. To capitalize on these gains, today, Pedevco announced a $7 million registered direct offering of its common stock.
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This will contain 4.5 million shares at a purchase price of $1.57 each. For some context, Pedevco is an energy company that acquires and develops high-growth energy projects across the U.S. Right now, its main assets are located in the Permian Basin and in the D-J Basin in Colorado. Only a few weeks ago, the company published a presentation on its recent moves.
“We are very pleased and encouraged by the exceptional offset well performance seen by third party operators in and around our D-J Basin acreage position in recent years, attributed largely to favorable geologic targeting and improved completion techniques.”
The President of Pedevco, Mr. J. Douglas Shick
One of the positives with PED stock is that its holdings are quite diversified. As a result of having several projects around the U.S., PED is exposed to a wider breadth of the energy industry. Because of this, it could be worth keeping an eye on. Considering all of this, does PED stock deserve a spot on your penny stocks watchlist?
ENGlobal Corp. (NASDAQ: ENG)
Another decent gainer of the past few days is ENG stock, pushing up by around 5% in the last week. This brings its one-month and one-year gains to over 59% and 306% respectively. Similar to the other stocks on this list, ENGlobal is a provider of energy solutions. It works on both renewable and traditional energy solutions in the U.S. and abroad.
On the commercial side of its business, ENG provides design, engineering, fabrication, and automated control systems for its clients. And on its Gov’t services sector, ENGlobal offers the same products but for larger implementation purposes. In early August, ENG provided a strategic update alongside its Q2 2021 financial results.
“While segments of the broader energy industry have begun recovering from the effects of the Covid-19 pandemic, ENGlobal’s business – which traditionally lags behind that of the broader energy market by as much as nine months – had not improved by the end of the second quarter.
We are, however, taking steps to better position the company to take advantage of the expected increase in business activity in our markets.”
CEO of ENGlobal, Mark Hess
This positivity shows that ENGlobal is working hard to grow in the face of earlier adversity. And with the energy sector growing right now, ENG stock could be worth giving a first or second look.
American Resources Corp. (NASDAQ: AREC)
By midday, shares of AREC stock had shot up by over 23% to $2.30 per share. While its previous yearly performance is nothing to write home about, this daily gain could show that there is bullish momentum behind AREC right now. While AREC is not a pure-play energy stock like the others on this list, it is working on several projects that are tied to the energy market.
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Its main business is in the supply of high-quality raw materials for the infrastructure market. This includes the processing of metallurgical carbon which is used in steel production and the EV industry. Today, the company stated that it succeeded in achieving more than 99.5% purity in its lithium, cobalt, and nickel recycling project from recycled electric vehicle batteries.
“Earlier this year we showcased our ability to produce a very high purity of rare earth metal neodymium from recycled rare earth magnets and now with these results, we have showcased how we can effectively and economically isolate lithium, nickel, and cobalt to be recycled for new battery production.
Our technology is unique in that it utilizes a cost-effective solution for the final stage of recycling battery metals all the way to the end isolated metals.”
Mark Jensen, the CEO of American Resources Corp.
So, if you’re looking for an interesting penny stock with solid ties to the EV market, AREC stock could be an interesting choice. Considering this, does it deserve a spot on your watchlist right now?
Which Penny Stocks on Robinhood Are You Watching Right Now?
With so many penny stocks to buy on Robinhood, finding the best ones for your list can be challenging. But, with the ferocity at which the energy industry is growing right now, there are plenty of opportunities to make money with penny stocks in 2021. Considering this, which energy stocks on Robinhood are on your watchlist right now?
To read about the other penny stocks on this list, head to Energy Penny Stocks Are Exploding, Here’s 3 You Need to Know
