Are These Penny Stocks To Buy Now Or Avoid Entirely?
When it comes to finding penny stocks to buy, you can leave it up to the analysts or you can do your own research. I prefer the latter because it gives you much more to go off of than someone else’s Buy/Sell/Hold justification.
Case in point, if you were to go off of the rating for a stock like some of the early coronavirus penny stocks, you would have likely missed out on some serious, volatile gains. Since most analyst ratings are from days, weeks, or even months prior to what you read sometimes, the actual rating may not be relevant. Again this can depend on timing, company progress, what’s going on in the world, etc.
But for the most part, the one bit of advice I will give you is to always do your own research. Things like rumors, ratings, and “picks” are great but unless you can arrive at a strong conclusion to invest in penny stocks, it could be best to keep researching. Then again, research doesn’t always involve looking at things like headlines either. Nor does research mean hours and hours of digging through filings. It can be as simple and quick as looking at chart patterns and trends too.
If you’re a day trader, these technical indicators may actually be more beneficial to you in the short term than monitoring a company’s plan for 6 months from now. Regardless, my point is to do your research and don’t just rely on what someone tells you. In this light, here’s a list of penny stocks that are starting to trend higher at the end of the week. Will these be on your list of penny stocks to buy next week or will you avoid them entirely?
Penny Stocks To Buy [or avoid]: Agile Therapeutics Inc.
Agile Therapeutics (AGRX Stock Report) saw a very consistent move on Thursday. The penny stock opened at $1.97 and by the end of the afternoon, had already reached highs of $2.19. While this move wasn’t accompanied by any new update from the company, momentum in the biotech space has investors looking for new potential.
The majority of the focus for this company is on its female contraceptive, Trwirla. The company has been raising additional money and working close with the FDA to button up final details for its drug. Recently, analysts at H.C. Wainwright reiterated their Buy rating on the penny stock. However, the firm also lowered its price target from $7 to $6. Something else to note is that the company’s last few filings show strong insider buying activities.
Alfred Altomari, Dennis Reilly, Geoffrey Gilmore, and Perceptive Advisors LLC all filed FORM 4s. These showed purchases of stock totaling more than 1 million shares. The prices range between $1.75 and $2.71. Meanwhile, the current price of the stock remains well-below the higher end of that range. Is Agile stock one of the names to watch heading into next week or should you avoid it entirely since there’s no apparent catalyst for this recent spike?
Penny Stocks To Buy [or avoid]: Tupperware Brands
I remember when we first wrote about Tupperware (TUP Stock Report) back in March. At the time, the company had just released an update about shaking up its C-suite. This is when its new CEO Miguel Fernandez was appointed as well as the company appointing Rich Goudis as Executive Vice Chairman. Both are former alumni of Herbalife Nutrition (HLF Stock Report). While shares haven’t done much since then, this week marks the latest spike in TUP stock.
Why did Tupperware stock move this week? The company announced an organization redesign that targets long-term sales and profitability. This is a great concept that I think ever company should focus on; it makes sense. So what will they do to achieve this? Aside from the previously announced appointments and further streamlining its core revenue drivers, Tupperware is bringing on even more team members.
The company named Patricio Cuesta EVP and President, Commercial, Worldwide. It also brought on Luis Vazquez as SVP of sales and marketing to lead in compensation models and customer experience. Furthermore, a new SVP of Expansion and Turnaround Markets, Hector Lezama will lead in the turnaround strategy implementation for the company. These are all big appointments and now it will come down to execution of the new approach.
The biggest question right now is will the latest news actually stick? Last time when the company announced the prior 2 appointments, shares popped then slowly slid (until this latest update). I think it will be important to see “how” not just “what” this new team is doing to turn around the beaten-down storage container company especially in the current climate.
Penny Stocks To Buy [or avoid]: Biocept Inc.
Finally, Biocept Inc. (BIOC Stock Report) caught some great premarket momentum on Thursday that appeared to fizzle until late in the afternoon. The company came out with news on a patent for its Target Selector technology. Specifically, it has been granted Brazil Patent No. BR112013028296-7, titled, “METHODS FOR DETECTING NUCLEIC ACID SEQUENCE VARIANTS”. The patent provides intellectual property protection for its Switch-Blocker technology. Protection via the patent further expands the company’s IP protection for rare mutation detection. Prior to this patent, Biocept already had protection in the U.S., South Korea, China, Australia, Japan, and Europe.
Lyle Arnold, Ph.D., Biocept’s Chief Scientific Officer. “The Switch-Blocker technology makes possible the ultra-sensitive detection of rare genetic events, and is especially useful for detecting rare cancer-associated mutations and alterations for use in our liquid biopsy assays. This technology works seamlessly with our other technologies for blood collection and CTC capture and analysis.”
But why the late afternoon spike if the news came out premarket? As with many things in the small-cap world, rumors are one of them. Certain screenshots related to possibly new COVID-19 information appearing to be from the company’s website were circulated. However, upon a closer search, the only coronavirus information that was not leading to a 404 Error page had to do with what Biocept already announced in March. Whether the latest info is Fake News or not, it will be interesting to see what happens when the markets reopen on April 13th.