4 Penny Stocks To Watch Right Now
Whether you’re a beginning investor or a seasoned professional, penny stocks have a lot to offer. To start, penny stocks are simply any that trade below the $5 mark. With this broad categorization, there are plenty of penny stocks to watch in the stock market. But, not all penny stocks are created equal. Rather, it is up to us as prudent investors to find the right penny stocks to buy. This is done through fervent research and a commitment to finding value. When looking for top stocks, there are a few key things to consider.
First, the volume is extremely important. While a penny stock may be interesting, the volume can speak a lot about how tradable a company is. If a penny stock has extremely low volume, there’s a lesser chance of selling later on at optimal levels due to a lack of liquidity. On the other hand, penny stocks with high volume can mean that it is easier to get in and out of positions.
The second thing we have to look for is fundamentals and financials. These are the numbers that companies put out to the public. This information is found through an easy google search and a little bit of time. You can also check out any penny stock’s profile on PennyStocks.com. Just type a symbol into the “Search Ticker” box to access that and more, including the latest analyst consensus.
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Investors should additionally make sure that they know what type of investing they are doing. This simply means either the short or long term. For the short term, swing traders, getting in and out of positions quickly is extremely important. These investors should look for high volatility on their watchlists. On the other hand, longer-term, investing in penny stocks, should entail looking for a company with a bright future ahead. With this in mind, let’s take a look at 4 penny stocks to watch in October.
Penny Stocks to Watch: Inflarx NV
Inflarx NV (IFRX Stock Report) is one of the penny stocks that has made some big moves this year. In February, the company made headlines after announcing positive results from its Phase 2a open-label study of IFX-1. This product is in use to treat a specific illness known as Pyoderma Gangraenosum. As we can see, Inflarx is headed in the right direction as of 2020. But, along came COVID, and again, the company began to show its expertise. With research on its drug known as BDB-001, the company showed the world some increasingly positive data. This drug was soon produced by the Chinese drugmaker, Beijing Defengrei Biotechnology.
The company has stated that it has begun several clinical development programs to see how this drug can be utilized in those who have late-stage pneumonia from Covid-19. The company stated that “in this small exploratory phase 2 part of the PANAMO trial, C5a inhibition with IFX-1 appears to be safe in patients with severe COVID-19. The secondary outcome results in favor of IFX-1 are preliminary…but they support the investigation of C5a inhibition with IFX-1.”
While this technical jargon may be above the head of some, it simply means that the company is progressing with this novel pharmaceutical to treat COVID. The hopes are that it can continue to be a frontrunner in the race against this terrible illness.
Penny Stocks to Watch: Inpixon
Inpixon (INPX Stock Report) is another penny stock that rose during intraday trading on October 2nd. This is one of the many single-day bull runs that the company has seen in the past few months. The company recently reported in its first-quarter results that its product known as the Workplace Readiness Dashboard is working with Lenovo to distribute the product widely. As we have seen in the past, INPX stock is highly volatile based on speculation. And while most stocks rise and fall with news, penny stocks tend to do so on a faster and more dramatic basis.
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As a tech penny stock, Inpixon also has a great amount of exposure to the broader technology area of the stock market. With COVID meaning that more people are at home using tech, bullish sentiment for Inpixon has recently impacted the stock. One of the key things to note about the company is that it has a very broad business model. Inpixon works in both security as well as analytics and big data. The company has several large contracts with governments, commercial entities and more.
Next week the company is set to give a business update. On October 5 the company hosts a conference call after the market close to discuss its recent business operations. Taking this into consideration, Friday’s session volume was much higher than average. Will that be a sign of what’s to come next week?
Penny Stocks to Watch: AcelRx Pharmaceuticals Inc.
AcelRx Pharmaceuticals Inc. (ACRX Stock Report)saw a spike in trading at the end of last week. The company recently announced that it was awarded an almost $4 million contract from the U.S. Army. This contract is to fund a study for AcelRx’s DSUVIA product. Vince Angotti, CEO of AcelRx, stated that “this award is in addition to expected purchases from the U.S. Army for the initial stocking of their medical assemblages, sets, kits and outfits for troop deployment, as well as potential orders from other branches of the military following the recent approval of DSUVIA onto the Joint Deployment Formulary.”
While this contract may seem small, any joint partnerships with the U.S. government could be big future news. Since the end of March, AcelRx stock had shot up by as much as 67% before falling back down to a 6 month gain of around 25%. The company remains a big player in the pharmaceutical industry working on the treatment and therapy of different types of pain. Its main drug, DSUVIA, is a sublingual tablet that treats moderate to severe pain in hospitalized individuals.
Next week the company hosts a virtual Key Opinion Leader event on the perioperative use of DSUVIA, on Wednesday, October 7. The company explained that the event will feature discussions and data presentations from two separate studies on the perioperative administration of DSUVIA with Dr. Christian Tvetenstrand, Chairman of Surgery and Director of Trauma, United Health Services Wilson Medical Center, New York, and Dr. Koth Cassavaugh, Director of Pharmacy, Auburn Community Hospital .
Penny Stocks to Watch: Tougbuilt Industries Inc.
Toughbuilt Industries Inc. (TBLT Stock Report) is one of the big gainers that we saw in September. Since halfway through September until the beginning of October, Toughbuilt stock managed to climb by almost 30%. One of the key things that Toughbuilt has done recently is the raising of large quantities of funding. Although the stock has risen in value in the past 3 weeks, the company has mostly lost in the long term. But, it does seem as though there is a bit of renewed bullish interest in TBLT stock. In its most recent quarter ending on June 30th, the company reported a net revenue amount of around $6.83 million.
We can compare this to around $4.75 million in the same quarter of the previous year. In addition, the company was able to more than double its gross profit over the previous year to around $2.55 million. Despite this, it did post an EPS loss per share of around $0.11 which is nothing to write home about.
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One of the main aspects of Toughbuilt Industries is that it produces home improvement and construction products. Considering the increase in homebuilding this year Toughbuilt could be one of the epicenter stocks to watch right now. Sales of new US homes accelerated by 4.8% in August, to an annual rate of 1 million units, the Census Bureau reported. This is the fastest pace since 2006 and could prove to be quite a positive aspect for Toughbuilt Industries.
