best penny stocks to watch right now

Will These Penny Stocks Make New Highs In August 2020?

Penny stocks are trending once again on Friday. Aided, in part, by positive market sentiment, some names are pushing toward new August highs. The stock market today is digesting the latest round of jobs data. The U.S. economy added 1.76 million jobs in July, which beat expectations. The U.S. dollar also rallied against the pound and euro ahead of the jobs numbers.

Will this have an impact on penny stocks? Typically the high-level market moves don’t dramatically impact the vast majority of stocks under $5, however, there are exceptions. The goal, at the end of the day, is to make money. So, can you make money with penny stocks?

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Sure you can and people are doing that every day. You just need to know how to trade penny stocks the right way. I see so many new traders jumping into these high-risk stocks just because “they’re cheap” so why not? Buying the wrong stock can become a very expensive habit to take on.

So if you’re just getting your feet wet in this world of small-caps, I’d say get a proper education first. You don’t have to go to school but learning how to consistently place winning trades is obviously a good asset to have. With this in mind, here are a few penny stocks to watch heading into the weekend.

Penny Stocks To Watch #4: Huttig Building Products Inc.

Last weekend we started looking into Huttig Building Products Inc. (HBP Stock Report). It had just come off of a big rally at the end of July and saw its highest trading volume day of the year. We also said it could be one of the higher risk penny stocks to watch at the time. The main reason behind it was with regard to upcoming earnings on that following Monday.

As we’ve seen, the company missed estimates on sales figures for the quarter by a decently large margin. Analysts pegged that figure around $222 million but Huttig only reported $192 million for the quarter. One shining point was that the company saw earnings per share jump from a previous year’s loss of 40 cents to an EPS gain this year of 6 cents per share.

Since pulling back from the July highs, the path was a bit less certain for HBP stock. Volume, however, has been trending much higher than in previous months. Why is HBP back on the watch list right now? Despite that drop, shares reversed course during the premarket session on Friday.

The move stemmed from news that the company received a buyout offer from Mill Road Capital. While it wasn’t a binding deal, the offer did put a price tag of $2.75 per share of HBP stock. Whether or not that comes to pass is to be seen. However, if this hits your radar today, there is a news catalyst to be aware of right now.

penny stocks to watch Huttig Building Products (HBP stock chart)

Penny Stocks To Watch #3: Heat Biologics Inc.

One of the penny stocks we’ve watched for a while now is Heat Biologics Inc. (HTBX Stock Report). Shares were trading higher as well on Friday during premarket hours. The company provided financial, clinical, and operational updates for the second quarter ended June 30, 2020.

If you’ve been following the developments of the company since March, you’ve likely come to find most of the information discussed in today’s Update. Aside from all of the significant development highlights, the biotech company did outperform compared to this time last year. EPS grew from ($0.14) to ($0.05) and sales grew from $342.49k to $593.16k year over year.

[Read More] 3 Penny Stocks On Robinhood Seeing A Surge Of Interest In August 2020

Jeff WOlf, CEO of Heat, explained, “Preclinical testing demonstrated expansion of antibody-supporting CD4+, and virus killing CD8+ T-cells in the lungs of the animals, a major site for COVID-19 infection. We believe this platform may play an important role as a standalone vaccine or in combination with other antibody-generating vaccines to provide broad cellular T-cell and humoral protection against COVID-19, particularly for elderly patients and those with underlying health conditions who have an increased risk of complications and death from COVID-19.”

With coronavirus vaccine stocks still in focus, will HTBX stay on your list this week?

penny stocks to watch Heat Biologics (HTBX stock chart)

Penny Stocks To Watch #2: Ambow Education

One part of the tech sector that’s received more attention recently is eLearning. Ambow Education (AMBO Stock Report) is the latest in a string of EdTech penny stocks to captivate stock market interest this year. The company provides educational and career enhancement services in China.

This week Ambow announced the official launch of Huanyujun Education Hub, an online-to-offline education SaaS platform. It’s powered by Ambow’s proprietary technology-enabled solutions, dedicated to “addressing the elevated demand for a dynamic learning environment amidst the new conditions brought about by the global pandemic.”

Essentially the system supports a real-time teaching environment while offering resources off-line like physical classrooms and teachers to handle anything from career planning to traditional eLearning. During the pandemic, Ambow joined forces with the National Integrated Circuit Industry & Education Union, China Center for Information Industry Development Group, and other industrial technology institutes to launch an education volunteer program on the Huanyujun Education Hub.

penny stocks to watch Ambow Education (AMBO stock chart)

Penny Stocks To Watch #1: Opgen Inc.

OPGN tweet august

Shares of Opgen Inc. (OPGN Stock Report) gapped up on Friday morning. The company put out a tweet stating that it’s now offering COVID IgG/IgM rapid test kits with a 10-minute turn around time for results. The test was granted Emergency Use Authorization by the FDA according to the company. That’s not the same as FDA approval, however.

The antibody test uses whole blood, serum, or plasma to detect if antibodies are present. This latest spike comes after weeks of sideways trading in the stock. Friday saw shares reach a premarket high of $2.92 so far. Will that trend continue through August?

Twitter has become the go-to for Opgen communications recently. In July the company revealed more developments This included its poster presentation from the American Society for Microbiology’s ASM 2020. As far as upcoming dates to note, we look to next week. On August 12th Opgen is set to report Q2 results and give a business update.

penny stocks to watch Opgen Inc. (OPGN stock chart)

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