3 Penny Stocks to Add to Your Watchlist For Next Month
As we end another day of trading penny stocks, there is a lot for investors to keep track of right now. And, as you likely have seen, there is also an extremely high rate of volatility in the stock market. While high volatility can seem scary to some, it also presents plenty of opportunities to make money with penny stocks. But, knowing how to use it and what your trading strategy is, is paramount to this.
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After the wild and bearish two weeks of trading, today’s small upswing and then 100 point drop, continues to indicate the level at which the market is moving. The main factors at play include the pandemic, inflation rates, the Fed monetary policy meeting, and geopolitical issues. And because of the sheer number of factors ongoing, it’s likely that these fluctuations will continue. So, with all of that in mind, let’s take a look at three penny stocks that climbed during trading today.
3 Penny Stocks to Watch in February 2022
- Amarin Corp. plc. (NASDAQ: AMRN)
- Southwestern Energy Co. (NYSE: SWN)
- Globalstar Inc. (NASDAQ: GSAT)
Amarin Corp. plc. (NASDAQ: AMRN)
One of the largest gainers of the day so far is AMRN stock. By EOD, shares of AMRN had shot up by over 5.6%. Despite a one year loss of around 53%, recent news is helping to show what we are seeing a bullish turnaround with AMRN stock. The main reason for this comes as the company announced that Sarissa Capital had increased its holding in it to over 6% from 2.2%.
This may not sound like a major deal, however, confidence at the institutional level is always exciting for investors to consider. The report shows that Sarissa purchased roughly 463,000 shares at around $2.93 per share on January 24th. This brings its total purchase price to around $1.4 million. It’s difficult to say if AMRN stock is worth buying right now however. The company has not beat earnings in over ten quarters.
But, there is still an overwhelming number of buy ratings on AMRN stock, which could be worth considering. In its most recent preliminary outlook for 2022, the company stated that it expects its full year 2021 revenue to come in at around $580 million. And with around $490 million in cash, Amarin looks like it is in a decent position to continue growing. With all of that in mind, will AMRN be on your list of penny stocks to watch or not?
Southwestern Energy Co. (NYSE: SWN)
Another decent mover of the day is SWN stock, which climbed by around 2% before dropping to a 0.5% gain to end the day. In the past year, shares of SWN stock have shot up by around 26%. And although it has seen a large amount of volatility in that time, the overwhelming sentiment in the energy industry has been positive.
To understand why shares of SWN stock are moving right now, we have to take a closer look at what the company does. It’s most recent announcement came on December 31st, when it completed the acquisition of GEP Haynesville. The company stated that the deal was closed via $1.15 billion worth of 4.75% senior notes due 2032 and $550 million in an intuitional term loan.
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With this, the company should be able to bolster its margins, increase its returns, and strengthen its overall financial. As a leading producer of natural gas and natural gas liquids, SWN stock is in an interesting position to continue growing with demand. So, while shares of SWN can be quite volatile, it does look like the company could have a lot to offer. With that considered, will SWN be on your penny stocks watchlist or not?
Globalstar Inc. (NASDAQ: GSAT)
Globalstar Inc. is a penny stock that we’ve discussed numerous times in the past few months. And with a 7% gain or so during trading today, GSAT stock is once again on investors minds. While Globalstar has had a very volatile year, the company is working hard to continue growing right now. In the company’s most recent Q3 report, it posted a quarterly loss of around $0.02 per share. Additionally, the company posted revenue of around $32.6 million which beat estimates by roughly 14%. When the results were announced, shares quickly rose.
“We are pleased with the continued positive momentum in SPOT and Commercial IoT as the associated service and equipment revenue are each up from the third quarter 2020.
The significant increase in equipment sales following the COVID-related headwinds that impacted demand in 2020 is a clear indicator of a rebound in these areas of the business. SPOT activations continued at record levels with LTM gross activations up 17% from the prior period.”
CEO of Globalstar, Dave Kagan
So, while this news is slightly outdated, it does reflect what the company has been up to recently. And, it’s worth noting that GSAT is often discussed as being a Reddit penny stock due to its consistently trending nature. So, while it’s hard to say if GSAT stock is going to continue moving, it could be worth looking into in the near future.
Which Penny Stocks Are You Watching Right Now?
As we continue to barrel further into 2022, there is a lot for investors to keep track of. Now, understanding exactly what is going on in the stock market can be challenging. But, with the right information by your side, it can be much easier than previously imagined. Considering that volatility is likely to only continue growing in the future, investors should cement a consistent trading strategy.
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And, while there are a lot of unknowns about the next few months, there are also a lot of factors that investors can use to make money with penny stocks. So, always make sure to know everything you can about the companies you’re interested in, and continue to use that as an advantage. With that in mind, which penny stocks are you watching right now?
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