Are These Under $4 Penny Stocks Worth Buying in November?
With another exciting day of trading penny stocks and blue chips here, what can investors look forward to today? Well to start, we saw shares of NVIDIA Corp. (NASDAQ: NVDA) shoot up by almost 10% during premarket trading. This occurred as it reported better-than-expected results for its third quarter. Alongside this, Dow Futures climbed by around 24 points with NASDAQ 100 futures rising by roughly 0.5%.
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Aside from this, we’re also witnessing high demand for retail goods, sparking rallies with several major retailers. And while all of this may seem specific to blue chips, we often see a trickle-down effect with penny stocks. On top of all of this, we also witnessed unemployment insurance fillings drop to their lowest levels since March of last year. This is a highly encouraging sign and one that should not be taken lightly.
While trading has been extremely choppy in the past few months, investors and the public alike are eager to move beyond the pandemic. While we don’t know what the future of penny stocks will look like, we can only hope that it will remain bullish in the next few weeks and beyond. With that in mind, here are three hot penny stocks to watch under $4 right now.
3 Hot Penny Stocks to Watch Under $4
- Oragenics Inc. (NYSE: OGEN)
- Transocean Ltd. (NYSE: RIG)
- UpHealth Inc. (NYSE: UPH)
Oragenics Inc. (NYSE: OGEN)
Oragenics Inc. is a biotech penny stock that has been making headway in the past few weeks. This business develops antibiotics for a variety of infectious disorders. OG716, the company’s primary product candidate, is used to treat Clostridium difficile. It is also working on a Terra CoV-2 vaccine that will provide immunity against the respiratory syndrome coronavirus. Right now and in the past year and a half, there has been a major focus on both biotech at large and companies working on Covid-related treatments. As a result, OGEN has seen increased popularity.
On October 4th, Oragencis was awarded a $250,000 grant from the National Institute of General Medical Sciences for the continued research and development of Lantibiotics. This includes its collaborative program with the Biomolecular Sciences Institute at Florida International University. This provides Oragenics the funding to develop novel lantibiotics to treat ESKAPE pathogens.
“We are pleased and honored to receive this non-dilutive funding which supports the Company’s efforts in research and development of lantibiotics and provides Oragenics with the opportunity to potentially expand on the identification of compounds that may be effective against life-threatening infections.”
The Executive Chairman of Oragenics, Frederick W. Telling
In the past trading day, shares of OGEN have begun to show slight bullish sentiment from investors. While it isn’t near its YTD high of over $1.50 per share at its current price of $0.60, investors do have hope for the future of the company. Noting this information, will OGEN be on your penny stock watchlist?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a penny stock that has climbed by almost 40% in the past YTD period and over 160% in the past year. This company offers offshore contract drilling services in a variety of locations. The company contracts its drilling rigs and work crews, as well as needed equipment for the drilling of oil and gas wells. As of February 22nd, 2021, the company had a fleet of 37 mobile offshore drilling units.
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On November 1st, the company reported its third-quarter results for 2021. In the report, Transocean’s total contract drilling revenues slightly fell from $656 million to $626 million quarter over quarter. The company’s revenue efficiency was 98.1% compared to 98% last quarter. In addition to this, its operating and maintenance expenses fell to $398 million from $434 million in Q2 2021.
“I would like to thank the entire Transocean team for their continued dedication to delivering safe, reliable, and efficient operations for our customers. We once again produced strong financial results. Notably, our strong uptime performance during the quarter drove an impressive revenue efficiency of 98%, resulting in adjusted revenues of $683 million.”
CEO and President of Transocean, Jeremy Thigpen
This is exciting news and reflects both Transocean as a business and the energy environment right now. Considering this, does RIG stock deserve a spot on your list of penny stocks to watch?
UpHealth Inc. (NYSE: UPH)
UpHealth Inc. is a biotech penny stock that has climbed by a solid 29% in the past five days. This includes an over 4% gain during premarket trading on November 18th. If you’re not familiar, this company operates a digital health platform for managing health and integrating care. This patient-centric platform uses tech-enabled services such as the Syntranet Core Platform, which is an integrated care management platform. UpHealth also offers MedQuest Digital Pharmacy, Global Telemedicine, and more.
On November 10th, UpHealth released its third-quarter financial results for 2021. The company stated that its third-quarter GAAP revenue increased 25% quarter over quarter to $49.1 million. Its gross margin also increased 11% quarter over quarter. On a pro forma basis, its revenue from the first quarter of 2021 increased 28% to the second quarter of 2021, and another 25% to the third quarter from the second. 24% of UpHealth’s total revenue was generated from its Integrated Care Management.
“Our first full quarter as a public company marks tremendous growth and success, as we boldly push the integration of our operations and consistently pursue our transformation to a global, leading, digital healthcare, public company.
The results convincingly demonstrate the clear value and differentiators of the UpHealth model as well as the dedication of our people and support of our investors, clients, and partners”.
CEO of UpHealth, Dr. Ramesh Balakrishnan
Throughout 2021, there has been a major emphasis on healthcare as a result of the pandemic. Because of this, UpHealth has seen much more attention, resulting in its over 75% gain in the past month. Keeping this in mind, will UPH stock be on your watchlist?
Can Penny Stocks Continue to See Bullish Price Action?
The short answer to this question is that no one knows what the future will look like. But, what we do know is that there is a sizable amount of bullish sentiment in the stock market right now.
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As a result, many investors continue to search for ways to make money with penny stocks. Considering all of this, do you think that penny stocks can continue to see bullish price action moving forward?
