It’s difficult to find top penny stocks to buy especially considering the fact that most don’t trade actively aftermarket. But for most of the main listed companies on the NYSE and NASDAQ, there could be small clues as they are able to trade after the market closes. Being able to pick up on certain trends can give you a head start for your new, daily penny stocks watch list.
Given the stock market today, there were a few key catalysts that could see a few top penny stocks trading more actively before Thursday’s opening bell. Though there are no guarantees that these trends will hold, it will at the very least give a few stocks to watch and see what happens. Let’s take a look at 4 penny stocks to watch for Thursday, September 19, 2019.
Top Penny Stocks To Watch #4: CBL & Associates Properties, Inc. (CBL)
The first penny stock to watch is CBL & Associates, Inc. (CBL Stock Report). This has been one of the most active stocks to watch over the last few weeks. In fact, last week we saw this penny stock rally to highs of $1.70 from lows of $0.86 just a few days prior. Since then CBL stock price has pulled back. But on Wednesday, shares saw a breath of fresh air as they rallied from $1 to highs of $1.19 just before the closing bell.
If you look at the intra-day chart, you’ll notice that the real push came toward the end of the day as both price and volume rallied. There was no news corresponding to this move.
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But the last press release from the 12th shows a major fashion brand, Liverpool Los Angeles will conduct a pop-up event at the company’s Oak Park Mall. The pop-up goes from November 8 through December 2.
Top Penny Stocks To Watch #3: NovaBay Pharmaceuticals (NBY)
This penny stock has been quietly climbing for the last few trading sessions. Wednesday saw NovaBay Pharmaceuticals (NBY Stock Report) trade its largest daily volume since July. Initially aided by coverage being initiated by Ladenburg Thalmann, NBY stock earned a BUY rating with a $1.10 price target.
Later in the afternoon on Wednesday, NovaBay revealed some big news. The company had received Australian Therapeutic Goods Administration approval for Avenova. This is a product designed for the eyecare market.
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Though the filing was released during market hours, aftermarket trading saw a surge of momentum. This took NBY stock to highs of $0.80 after hours. This compares to starting the week at roughly $0.51.
Top Penny Stocks To Watch #2: Ceragon Networks (CRNT)
Another one of the penny stocks that has been on the radar this month, Ceragon Networks (CRNT Stock Report) continued its uptrend on Wednesday. Shares of CRNT stock saw highs of $2.94 before closing the session at $2.93. They briefly traded at these levels once the market closed as well.
Since the beginning of the month, CRNT has been rallying. On September 3, the stock began trading around $2.24. The interesting part is that there has been no news to pair with this new bull trend. So what happened with Ceragon Networks? Well, the only thing to find is a filing for a general meeting of shareholders.
This approved a bonus plan for its CEO for 2019 and the re-appointment of its auditor, Kost Forer Gabbay & Kasierer. Needless to say, CRNT may find itself on several penny stocks watch lists in the morning to see what happens next.
Top Penny Stocks To Watch #1: Lexicon Pharmaceuticals (LXRX)
The final penny stock on this list is Lexicon Pharmaceuticals (LXRX Stock Report). This should be familiar to some readers as this company has been part of several big articles this month. Wednesday, LXRX stock roared to new September highs of $3.89.
Last week, the company said it would present clinical data for Zynquista, or sotagliflozin, at the European Association for the Study of Diabetes annual meeting this week. Wednesday marked the last day.
Beyond that, take a look at the corporate filings. Both September 17 and 18 saw insiders filing FORM 4s to show buying in the stock. But digging even deeper shows that this buying has been going on since the 13th of the month.
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Lonnel Coats, Raymond Debbane, and Christopher Sobecki all picked up sizeable positions in the stock. Take a look at all Form 4s on Lexicons report page, Here.
