Are Analysts Calling These Penny Stocks A Buy Or Sell Right Now?
It might seem like an unusual scenario but just because something’s considered a penny stock, it doesn’t mean analysts won’t cover it. In fact, this year, we’ve seen some of the most bullish calls from small-cap analysts. Many of these cheap stocks ended up racing to new highs, far from the price range of penny stocks. Now, it had a lot to do with the hype behind coronavirus penny stocks. Nonetheless, those healthcare and biotech penny stocks ended up hitting analysts’ expectations; even succeeding them in certain cases.
But that doesn’t necessarily mean that analysts are always right. While these people are thought to have an instinct and more developed market insight than the “average Joe,” they’re still people. Let’s face it, people can be wrong more times than they’re right it would seem. In any case, analyst ratings aren’t a bad thing to know. At the very least, you can take it into account and make it part of your entire diligence “package”.
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If analysts seem bullish but based on your findings, a penny stock appears bearish, then it may be worth noting why analysts reported certain things. In many cases, these ratings might be current at the time they get posted, but after a while, the market will take its own stance on penny stocks. In light of the recent surge that stocks have seen this week, let’s take a look at some trending names. Do analysts think they’re penny stocks to buy or avoid right now?
Penny Stocks To Buy [or avoid]: MicroVision
Shares of MicroVision (MVIS Stock Report)have been on a wild ride over the last few weeks. If you remember back in April we discussed it as one of the penny stocks to watch. At the time, it appeared MicroVision was in a transitionary period trading around $0.30. The company had just announced that it would hand off the production of certain components the company was making. It would give the task to its “April 2017 customer”. The agreement still allows Microvision to profit from each component shipped via a royalty.
Fast-forward a few weeks and we saw MVIS stock explode to highs of over $1.80. The move was triggered by a little speculation and a little corporate maneuvering. It retained Craig-Hallum Capital Group LLC to serve as its financial advisor as it explores various licensing and other strategic alternatives. The company said this includes a potential sale or merger of the company. There was also speculation that a large company might be eyeing MVIS, however nothing has come to fruition on that. Needless to say, after the big breakout, MVIS stock broke down.
But over the last week, it would seem that the stock has gained some new life. MVIS shares have climbed back from lows of $0.55 to highs of $1 on May 18. There hasn’t been any new updates, filings, or news. But whether it’s speculation once again or market momentum, MVIS stock is back on the move. Not only is the price climbing but share volume has also picked up comparatively speaking. What do analysts think about MVIS? Of the ones tracked, the majority rate it “Hold” as of this week. Do you think it is one of the penny stocks to buy or avoid right now?
Penny Stocks To Buy [or avoid]: Kitov Pharma
Another one of the high-flying penny stocks to watch in May, Kitov Pharma (KTOV Stock Report) has inched higher on Monday. While KTOV stock was denied at its 200-Day Moving average this morning, the penny stock remains in an uptrend that started earlier this month. Last week the market for Kitov began to see increased trading momentum become a factor. The biggest focus lately has been on speculation surrounding its upcoming presentation later this month.
Positive results of a previously reported Phase 1 trial of CM-24 in patients with advanced cancer will be presented in a poster presentation at the American Society of Clinical Oncology (ASCO) virtual program. On May 29, management said it will discuss progress in the trial of 27 patients with advanced malignancies. Kitov said that CM-24 was found to be safe and well-tolerated in all patients, with no discontinuations of study drug or dose limiting toxicities.
“These Phase 1 results are encouraging and indicate that CM-24 at higher doses warrants further evaluation in a larger clinical study, and we are proud to be able to present them as a poster at ASCO 2020,” said Isaac Israel, Chief Executive Officer of Kitov. What’s more, is that Kitov has discussed its expectation to initial Phase 1/2 trials in collaboration with Bristol Myers Squibb in combination with Opdivo later in 2020. Since the start of the month KTOV stock has climbed over 85%. What do analysts think about Kitov? Among analyst ratings for KTOV stock, the average rating shows “Strong Buy” as of today with currently 1 recommendation recorded.
Penny Stocks To Buy [or avoid]: Remark Holdings
One of the most volatile penny stocks has also been Remark Holdings (MARK Stock Report). We caught onto the surge of attention early as investors searched for thermal imaging stocks. In an effort to “stay ahead of the trend”, many more people are thinking of what will be the “new normal” after quarantine. Obviously a way to track and protect against the spread of viruses is important. Remark has focused on getting information out to the public via its twitter feed.
Over the last few weeks, you can check out some of the MARK stock updates to see what I mean. After rallying to highs of nearly $2.70, MARK stock pulled back for a few sessions. As discussed on our own Twitter feed, nothing can go up forever and there could be profit-taking periods.
Sure enough, MARK stock experience this. But on Monday, it looks like things are back in full swing after a recent tweet was put out. The compay’s tweet said, “RemarkAI getting LA ready #retailers #ShoppingMalls #COVID19 $MARK #kankan #safety.”
This followed a series of suggestive Tweets showing the company apparently testing its tech at casinos in Las Vegas. There were also rumors floating around about the company working with a large casino operator. However, those rumors have yet to be confirmed or denied. At the end of the day, MARK stock has started climbing again with shares breaking above $1.80 for the first time since May 13. What do analysts think about Remark? Among analyst ratings for MARK stock, the average rating shows “Strong Buy” as of today with currently 1 recommendation recorded.