Will These High Volume Penny Stocks Make Higher Highs This Month?
One of the quickest ways to find penny stocks is by looking at technical trends. As I’ve said in the past, sometimes volume and price will dictate momentum before fundamentals. While that type of action could stem from corporate developments, the name of the game is making money with penny stocks. So where there’s higher volume, there’s usually volatile price movement.
This week we’ve already seen a surging market drive small-cap stocks higher. Hopes that a coronavirus vaccine is closer and cities can start reopening have put a positive spin on things. Believe it or not, the broader markets themselves are nearing record levels once again. It’s hard to believe that “the world was ending” just a few months ago. However, trillions in stimulus didn’t hurt things either. Needless to say, this has all translated into a great rebound in the stock market today.
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Where are investors looking right now? Well there are a few sectors of interest. These include technology, health care, and financials. Following a bit of a pull-back early on, it appears that both the Nasdaq and S&P are back in lockstep heading higher during the mid-morning session on August 11th. Will this continue being the case heading into the rest of the week?
Best Penny Stocks to Watch #1: Pieris Pharmaceuticals Inc.
Pieris Pharmaceuticals Inc. (PIRS Stock Report) got beaten up a bit earlier this year as did the entire market. Since then, PIRS stock has slowly but steadily made its way higher. Most recently, it’s held a trend between $2.90 and $3.50 until slipping lower in August. Regardless of that second dip, we’re looking at Pieris as it has just begun experiencing above-average trading momentum. Tuesday’s session saw the penny stock trade more than 4.4 million shares before the afternoon. Furthermore, this came just 1 day after reporting Q2 earnings.
The company also announced a key collaboration update as well. First, let’s go over earnings. Pieris reported earnings per share loss of $0.09. This beat estimates of an EPS loss of $0.17. Furthermore, the biotech company recorded $11.25 million in sales which didn’t compare to estimates of just $7.76 million from analysts.
Earlier on Monday, Pieris also announced a clinical collaboration with Eli Lillly and Company. The two will evaluate the safety and efficacy of combining Pieris’ PRS-343 with Lilly’s ramucirumab and paclitaxel. This is for the second-line treatment of patients with HER2-positive gastric cancer in a phase 2 study. PRS-342 is a 4-1BB/HER2 bispecific for HER2-positive tumors and ramucirumab is a VEGFR2 antagonist FDA-approved for multiple types of solid tumors.
Pieris also has a Phase 2A study being conducted with AstraZeneca of its PRS-060 and AZD1402 for asthma. It’s expected to begin next quarter. Additionally, Pieris will present phase 1 dose-escalation monotherapy and combination with atezolizumab data for PRS-343 in an oral presentation session at the European Society for Medical Oncology Virtual Congress 2020 in September.
Best Penny Stocks To Watch #2: Colony Capital Inc.
Colony Capital Inc. (CLNY Stock Report) made new August highs on Tuesday. Shares of the company have worked to get back above its 50-day moving average for the last few weeks. Finally on August 11th, CLNY stock made a firm push above this major technical level. You might remember this from early May when we first started following the penny stock. At the time, CLNY traded around $2 and was when Digital Colony, the global digital infrastructure investment platform of Colony Capital announced a strategic recapitalization of Beanfield Metroconnect.
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Since then, there’ve been periodic jumps in the penny stock but nothing that’s upheld for longer than a few weeks. This latest move, however, comes after Colony’s latest earnings news. Just a few days ago the company reported its second-quarter results. Colony posted revenue of $372.4 million and a loss per share of $0.04. Management also said that ” Despite the impact of COVID-19, the Company’s digital portfolio companies across investment management and operating businesses grew core organic revenues approximately 9% on average YoY in the second quarter.
Better than expected jobs figures have helped certain stocks. Aside from earnings, CLNY stock joined other real estate company stocks trading higher this month. The company segments its operations into real estate equity, real estate debt, and investment management businesses. Colony Capital’s asset portfolio and total revenue generation are split primarily between its real estate equity and real estate debt divisions.
Best Penny Stocks To Watch #3: TOMI Environmental Solutions Inc.
If you want to talk about penny stocks that have rallied consistently this year, TOMI Environmental Solutions Inc. (TOMZ Stock Report) might be part of the conversation. The penny stock’s climbed over 1,670% since January 2nd of this year. What’s more is that while most stocks reached 2020 lows in March, TOMZ stock hit its first 2020 high.
Like many companies that were “unknown” until COVID-19, TOMI found its footing thanks to the pandemic. The company specializes in disinfection and decontamination. It utilizes its Binary Ionization Technology (BIT) platform through its SteraMist brand of products.
As one of the few OTC penny stocks we’ve discussed, momentum has been at above-average levels for months. It might be hard to believe but at the start of 2020, shares traded around 12 cents. This week TOMZ stock hit a high of over $2. Late last month the company’s SteraMist announced early-stage trials of SteraBot. This is its first-generation technology disinfection robot and will be jointly developed in Hong Kong with RV Automation Technology Co. Ltd.
This week could be an interesting one for TOMZ stock. Furthermore, it could present a risky situation as well depending on the outcome of the company’s upcoming results. I’m talking about earnings. August 13th is when TOMI reports its second-quarter financial results. As we’ve seen, positive results tend to excite the market and negative results typically depress the market. If you’ve got TOMI stock on your watch list right now, where do you think it will come in after reporting Q2 results? Can it go higher or has this run come to a point of exhaustion?
Best Penny Stocks to Watch #4: Aclaris Therapeutics Inc.
Aclaris Therapeutics Inc. (ACRS Stock Report) also reached new August highs on Tuesday. Shares of the penny stock hit $2.70 just before the lunch hour, which continued a multi-day uptrend that began last week. The initial spark came after Aclaris reported Q2 earnings and gave a business update.
Net loss was $11.6 million for the second quarter of 2020. This compared to $49.9 million for the second quarter of 2019 and was $27.2 million for the six months ended June 30, 2020. That compared to $87.4 million for the six months ended June 30, 2019. The company was also able to decrease R&D expenses for the quarter. These were $6.5 million and $15.9 million for the quarter and six months ended June 30, 2020, respectively. That compared to $17.5 million and $37.2 million for the quarter and six months ended June 30, 2019, respectively.
Dr. Neal Walker, President and CEO of Aclaris explained “In the second quarter, we dosed the first subject in our Phase 2a trial of ATI-450 as a potential treatment for moderate to severe rheumatoid arthritis. We are also proud to be participating in the effort to find effective therapeutics for COVID-19 by supporting an investigator-initiated clinical trial of ATI-450 for cytokine release syndrome in hospitalized patients with COVID-19 and the first subject has been dosed in this trial.”
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Keep in mind that in July Aclaris submitted an Investigational New Drug Application to the U.S. FDA for ATI-1777 to treat atopic dermatitis. The company said if it’s approved it looks to begin Phase 1/2a trials “in the second half of 2020”.
