Are These On Your Penny Stocks To Watch List Right Now?
This week we’ve got a ton of things to think about no matter if its penny stocks or blue-chips. Regardless of the broader repercussions that may come Monday morning, there are several penny stocks to watch based on last Friday’s action. What I’m talking about is the irregular or high volume stocks that turned some heads late in the week. These are the names that could be trending at the start of October’s first, full-week of trading.
What’s more is that we have a brand new list of economic data to digest. This may or may not impact stocks under $5. Regardless, it should be something to take into consideration as potential catalysts for the market, in general. Not only do we have the constantly changing winds of the stimulus bill to navigate, but there are also numerous economic data to digest. Friday’s non-farm payrolls disappointed trader.
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The figure showed only 661,000 jobs were created in September. This is compared to the 850,000 expected. This alone could have repercussions on certain epicenter penny stocks this month. Furthermore, we’re seeing signs in Europe suggest that a second wave of coronavirus could be slowly creeping up.
Are These Robinhood Penny Stocks On Your List This Week?
A leading, multiplex cinema, Cineworld reported this weekend that it plans on wide-reaching closures of its theaters. The owner of the largest chain of theaters in the UK and Ireland and the second-largest in the United States — Regal Cinemas — will reportedly close all its theaters this week.
As we’ve come to find, its the luxury items that have initially signaled troubled waters. Discretionary stocks were some of the hardest hit by coronavirus shutdowns this year. If this is a sign of what’s to come, the market could be looking at some increased volatility in the time ahead. Needless to say, penny stocks generally beat the the sound of their own drums.
Some of the most popular tend to originate among the popular “Robinhood traders”. Even if they aren’t trading penny stocks on Robinhood, novice traders tend to get wrapped up in the hype. If “follow the money” is a real strategy, then the chatter among these retail traders might be something of note right now. In spite of this, there could be several penny stocks to watch even in light of these recent developments.
Penny Stocks On Robinhood To Watch: CHF Solutions Inc.
CHF Solutions Inc. (CHFS Stock Report) was one of the penny stocks we discussed last week. CHF has focused on its Aquadex SmartFlow products. Specifically it was the use of its product line for fluid management of patients with COVID-19. While it’s been on our watch lists since the end of February, the overall trend has been sideways for the most part. The penny stock saw a nice move up in the early third quarter. But after reaching a high of $1.25, the penny stock came back to its previous trading levels in a range of $0.25-$0.35.
One of the main catalysts for the dip in August stemmed from CHF’s large financing round. The discount to market didn’t sit well with retail traders. However, over the last few sessions, CHFS stock has experienced volume levels that are well-above average. CHF recently provided testimony to the U.S. International Trade Commission concerning medical supplies treating COVID.
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Following this, the company announced its initiatives for the 24th Annual Scientific Meeting of the Heart Failure Society of America from September 30 to October 6, 2020. Last week the company presented study data on its Aquadex Therapy. In light of this, the market has begun picking up. So it could be one of the Robinhood penny stocks to watch at the top of the new week.
Penny Stocks On Robinhood To Watch: ADMA Biologics Inc.
ADMA Biologics Inc. (ADMA Stock Report) was another one of the penny stocks we discussed last week. For ADMA stock, the last 3 sessions were some of the most active in recent months. That’s also considering that ADMA stock had a rough time trying to recover from its late-August pullback.
If you recall, there was a big boom in plasma stocks for a brief period this summer. A number of these stocks took off in light of comments made by the U.S. President at the time. Additionally, the recent surge in momentum appears to have built up from a mix of COVID-related headlines as well as analyst actions. Last month ADMA launched a COVID-19 ImmunoRank Neutralization MICRO-ELISA. It’s a fully-validated ELISA assay for the detection of SARS-CoV-2 neutralizing antibodies in plasma.
Furthermore, this month, Raymond James maintained its Outperform rating on the stock. However, the firm lowered its price target from $9 to $7. In light of these actions, we saw ADMA stock surge during the latter half of last week. It even pushed higher after hours on Friday with the stock climbing to $2.75. One of the technical levels that remains a sticking point for the penny stocks is its 50 day moving average. Can ADMA finally break and hold above the 50 DMA on Monday or are shares set to slide once again?
Penny Stocks On Robinhood To Watch: Houghton Mifflin Harcourt
Houghton Mifflin Harcourt (HMHC Stock Report) is another one of the penny stocks we’ve monitored for a few months now. Its initial spark this summer stemmed from speculative rumors. However, as time has progressed, momentum built behind confirmed initiatives announced by the company this year. The main focus has been on Houghton’s involvement in eLearning. The company’s Teacher’s Corner hinges on remote education. It also includes features like curated content, virtual events, and coaching. HMH serves more than 50 million students and 3 million educators in 150 countries.
Heading into the new week, eLearning penny stocks could be a focus. Over the weekend, the New York Times reported1 that Mayor Bill de Blasio announced an emergency crackdown, saying that he “intended to impose new restrictions in 20 hot spots in Brooklyn and Queens” that have been experiencing rising positivity rates. What’s more is that in another 11 ZIP codes, the city would allow schools to remain open but would ban indoor dining, the mayor said.
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Most recently the company launched its “Family Room” platform; an online space that supports different teaching environments. Family Room provides a library of on-demand resources created “with parents in mind.” Further to this, Houghton Mifflin partnered with Ypsilanti Community Schools offering its connected curriculum. The company is also in the middle of a financial restructuring. So, from a fundamental and technical level there are several things to keep in mind when it comes to HMHC stock this week.
Penny Stocks On Robinhood To Watch: Pacific Drilling S.A.
Pacific Drilling S.A. (PACD Stock Report) could be one of the energy penny stocks to watch heading into the week. Friday’s session saw some of the highest trading volume PACD stock has seen since June. With the state of the energy sector, both penny stocks and blue chips alike have experienced considerable levels of consolidation. Pacific’s principal business is to contract its fleet of high-specification floating rigs to drill wells for clients.
Late last week, the company said in a filing with the Securities and Exchange Commission it missed paying $31.4 million interest on its 8.375% first lien notes due 2023 and $19.6 million interest on its 11%/12% second lien PIK notes due 2024. Both were due last Thursday. The oil and gas company has until Oct. 31 before it could be considered in default. Meanwhile, Pacific Drilling said it plans to use the grace period to negotiate with lenders for a potential debt restructuring, which may be under Chapter 11 proceedings.
Not only was Friday’s session active, PACD stock continued trading much higher during aftermarket hours. The penny stock opened around $0.22 and managed to reach $0.4055 after the closing bell. Will that same momentum continue at the top of the new week?
End Notes:
HMHC: https://www.nytimes. com/2020/10/04/nyregion/nyc-covid-shutdown-zip-codes.html?referringSource=articleShare
