One of the best feelings as a trader is feeling like you know something others don’t. In many cases, a little research can go a long way in the world of penny stocks. Obviously, you can find easily accessible information via press releases. But that’s not the information I’m talking about.
What I’m talking about is publicly available information that may not be so apparent to the average retail investor. Things like short interest data, insider activity, unusual options volume, patent wins (not announced as a press release but that come out directly from an agency), etc. Things like this can present ways to become a well-informed trader that, at the very least, has a better understanding of why certain stocks are moving the way they are.
This article looks at a handful of names that meet some of these criteria. We dive into the details, whether it’s irregular trading action, unusual activity, or something else. Then you can decide if they deserve a place on your list of penny stocks or not.
Penny Stocks To Watch
Hyperfine Inc. (HYPR)
Shares of Hyperfine Inc. have quietly mounted a 100%+ rally in the stock market since the end of November. At the time, HYPR stock traded as low as $0.68 and this week traded over $1.30. The creator of the Swoop Point-of-Care MRI system has continued reaching new milestones.
February has been a busy month for the company that started with news of a twelve-abstract presentation on Swoop later this year. Hyperfine also announced a new Chief Administrative Officer & Chief Financial Officer. Then some FDA-related information helped spike interest again in HYPR stock last week. Hyperfine received FDA Clearance for updated Swoop brain-imaging software.
But what’s gone on this week could be something most haven’t caught onto yet. That’s because the company has given no formal update as of this article. However, what has been revealed is proof of a new European patent titled “DEEP LEARNING TECHNIQUES FOR SUPPRESSING ARTEFACTS IN MAGNETIC RESONANCE IMAGES.”
The patent win comes just a few days after its Swoop portable MR Imaging system received a CE marking. This “opens the door for potential future commercial expansion into the European Economic Area,” according to management.
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SoundHound AI (SOUN)
AI stocks, or what some are calling “ChatGPT stocks” are gaining incredible amounts of attention this year. The emergence of machine learning and its capabilities are just beginning to evolve. SoundHound specializes in voice AI and recently announced measures to implement a more targeted focus.
In a January update, “These measures are expected to reduce costs by approximately 40% while still enabling the company to deliver revenue growth of over 50% in 2023. As a result of this restructuring, cost reductions, and revenue growth, SoundHound expects to have much lighter capital needs going forward and become operating cash flow positive by Q4 of this year.”
Fast-forward a few weeks, and SounHound is on the radar after several updates. These include unveiling its Dynamic Interaction With Generative AI feature and showcasing an in-vehicle demo for an automotive industry application. What hasn’t been overly publicized is the company’s upcoming earnings report in March regarding its Q4 and full-year results for 2022.
It already “pre-announced” plans to deliver strong 2022 results with roughly $31 million in revenue. That is at the higher end of its previous guidance, and this type of growth is expected to speed up throughout 2023. Key partnerships and integrations include Qualcomm, Snap, Vizio, Square, and Toast, among others. Something that may be important to note if this is on your watch list is a prospectus was recently filed. It showed a “potential offer and sale from time to time by CF Principal Investments LLC of up to 25,000,000 shares of Class A common stock.” Whether or not this plays a role before or after earnings is to be seen.
Nordic American Tankers (NAT)
Shipping stocks are in focus this year and shippers that transport energy materials at that. Nordic’s fleet consists of crude oil tankers. The state of the energy market right now has brought a bit more volatility to related stocks. Overall, NAT stock has continued a strong uptrend throughout the year and tested levels within striking distance of its 52-week highs.
In an update earlier this year, CEO Herbjorn Hansson explained why shippers could be in high demand:
“As a consequence of Russia’s invasion of Ukraine and the West’s strong reaction, energy security is of paramount concern. Oil will have to be sourced from further away than in the past, creating longer voyages. Uncertain times also encourages hoarding among some buyers, adding to demand for oil and for the NAT tankers…I also see a longer-term trend, and that is the increased demand for oil, in particular from Asian economies.”
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What are traders watching now? Next week Nordic reports its Q4 earnings. The investor call won’t be until March 7th.
List Of Penny Stocks To Watch
- Hyperfine Inc. (NASDAQ: HYPR)
- SoundHound AI (NASDAQ: SOUN)
- Nordic American Tankers (NYSE: NAT)
