March saw some of the most active penny stocks this year. A wild mix of earnings growth, stock market momentum and economic news helped boost share prices. March isn’t over yet and there are a handful of stocks to watch as we head into a new quarter.
Penny Stock To Watch #1: Safe-T Group (SFET)
Shares of this penny stock exploded on March 28 thanks to some early morning news. The company announced the launch of a new version of its technology. They said it was designed for “industrial internet of things” – IIOT.
“Today, Zero Trust vendors mainly target humans, but they are exceeded by the number of applications and IOT devices trying to access backend systems and we haven’t seen Zero Trust vendors trying to tackle this issue. Recognizing this potential problem, we adapted our Software Defined Perimeter solution to support application-to-application use cases, as well as
Eitan Bremler, VP Technology at Safe-T.IOT-to-application use cases.”
Besides the tech space heating up, SFET is seing increased trading momentum and price movement seemingly out of nowhere. Share structure shows a very low float + low outstanding share count. This could be something to watch to see if the trend continues into April.
Penny Stock To Watch #2: JMU Ltd (JMU)
Another stock with a lower float in comparison to other stocks in the market, JMU sparked interest on March 28. The was after running to highs of $2.17 in the morning session. A number of Asian ADR’s popped after more reports came out about China trade talks this week. It seems like, for now, this could be a place to see some extra volatility.Click For JMU Ltd Chart
Volume has increased as more people look toward technology for
Penny Stock To Watch #3: Planet Green Holdings (PLAG)
Planet Green (PLAG ) exploded during the March 28 session. Effectively leaving penny stocks territory, this stock jumped from under $4 to over $7 in the matter of a day. News is very sparse on this company.
Besides a very old press release, the specifics are not completely clear. As with many penny stocks to watch, Planet Green may be fueled by simple market momentum. Furthermore, having less than 3 million shares outstanding and just over 1 million shares in its float, the structure could have also lent a hand to this latest move.
Penny Stock To Watch #4: Euro Tech Holdings (CLWT)
Joining the “not a penny stock anymore” category is Euro Tech (CLWT ). On March 27, the stock closed at $3.34 and the following day it saw highs of $11.73 before lunch. After a series of stock halts, Euro Tech shares settled back to $8. This is on today’s penny stock list because late in the afternoon, momentum and price have started to pick up once again.
Similar to the above companies, Euro Tech could also be considered a low float penny stock (not a penny stock anymore). Many times, penny stocks will take off with the right technical set up and share structure. This is a developing story and we will update with any new developments on this company.
Penny Stock To Watch #5: CHF Solutions (CHFS)
This penny stock began to make a bigger price move later in the day on March 28. CHF Solutions exhibited at The International Society for Heart and Lung Transplantation. They are showing off their ultrafiltration therapy in post-op cardiac surgery platform. Assuming the exhibit has been well received, this may have been a catalyst for the afternoon move.
Something also to keep an eye on is the consecutive days of increased volume. Furthermore, CHF may find itself as another low float penny stock. 38.42 million shares show as outstanding and the float shows at less than 1 million shares according to sites like FinViz. Take a look at the latest trading activity on CHF Solutions.
