5 Penny Stocks to Watch For the End of November
With vaccine hopes rising and the year coming to an end, penny stocks continue gaining attention. This is due to several reasons. For one, penny stocks are notoriously cheap for investors at under $5 per share. This means that there is a very low barrier to entry. While being cheap is not alone a reason to buy penny stocks, it can help to get started. One thing to note is that the price of penny stocks means that they are often subject to increased volatility. But, volatility is something that can be a benefit to certain investors.
Second, penny stocks offer a great deal of potential upward momentum. With many penny stocks, the underlying company has yet to see as much critical appeal as big name stocks. This means that the opportunity for long term growth is much greater than some very popular securities. This in no way means that there is a guarantee for growth, but rather the chances can be higher than other stocks.
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Lastly, penny stocks cover an incredibly broad spectrum of investments. Because the only stipulation is that they have to be under $5, the options are almost limitless. This means that investors can pick an industry of note, and then begin to search for penny stocks to watch within it. With all of this information in mind, investors can begin to make a list of penny stocks to watch. But before that happens, you may want to take a look at these five for the end of November.
Penny Stocks to Watch Right Now
- Kosmos Energy Ltd. (KOS Stock Report)
- Muscle Maker Inc. (GRIL Stock Report)
- CPS Technologies Corp. (CPSH Stock Report)
- Evogene Ltd. (EVGN Stock Report)
- Iterum Therapeutics plc (ITRM Stock Report)
Penny Stocks to Watch: Kosmos Energy Ltd.
Kosmos Energy Ltd. is one of the biggest gainers for November 23rd. During trading on Monday, shares of KOS stock shot up by over 21% by EOD. For some context, Kosmos Energy works as a deepwater oil and gas exploration company working mostly in the Atlantic.
The company states that its primary assets are based in Ghana, Equatorial Guinea, the Gulf of Mexico, Maritania, and Senegal. With Covid vaccine hopes at an all time high, many believe that oil production may come back to pre-covid levels in a short period of time. In addition, many believe that travel could resume again which may help to boost demand for oil and gas.
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Recently, Kosmos Energy announced its Q3 2020 financial results. In the results, the company states that it produced roughly 56,700 barrels of oil per day. Additionally, revenue came in at roughly $225 million for the period with production expenses at around $84 million. Andrew G. Inglis, CEO of the company stated that “Kosmos delivered robust operational performance in the third quarter, despite elevated storm activity driving temporary shut-ins in the Gulf of Mexico. Full year production is expected to come in at 61,000 barrels of oil equivalent per day.”
With all of this in mind, investors can decide if KOS stock is the right penny stock to watch.
Penny Stocks to Watch: Muscle Maker Inc.
Muscle Maker Inc. is a company that owns a large chain of restaurants on the East Coast. The company states that its menu is forward thinking, incorporating healthy, lean, and protein rich recipes. In addition to owning Muscle Maker Grill, the company also owns Healthy Joe’s and MMG Burger Bar.
While Covid has not been kind to restaurants, many businesses have been able to survive and thrive by offering delivery and pick up services. Muscle Maker Grill has continued to build out its robust business model by expanding around the East Coast. This includes its newly acquired Philadelphia location which is already open and in operation. The company has been working to operate its restaurants as ghost kitchens during the Covid pandemic. This means that they essentially are only open for pick up and delivery.
In regard to the Philadelphia location’s opening, CEO of the company, Michael Roper, stated that “this acquisition further supports our effort to offer our brands to the Philadelphia community looking for healthier options. With our two ghost kitchens projected to open in November and December this year, we are well positioned to capture the attention of the Philadelphia market.”
Penny Stocks to Watch: CPS Technologies Corp.
CPS Technologies Corp. is another big November 23rd gainer. During the trading day and into after-hours, shares of CPSH stock shot up by around 33% to $3.25 per share. CPS Technologies works as a provider of technological solutions for electrical systems. This includes solutions that are used in everything from electric vehicles to wind turbines and more. In addition, the company also produces heat spreaders, which are in use with internet routers and microprocessors. Recently, the company announced its Q3 2020 financial results. In the results, the company posted revenue of $4.5 million and an operating profit of around $253,000.
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Grant Bennett, CEO of the company, stated that “while generally pleased with our bottom lines for quarter and nine-month periods just ended, in the third quarter our top line was increasingly negatively affected by the coronavirus pandemic. In particular, our two largest customers are experiencing reduced demand from their customers, resulting in a significant reduction in purchases from CPS. Gross margins and operating profits were considerably higher in the three month periods…just ended than they were in the corresponding periods a year ago.”
With solid financials at the core of CPS’s business, the company looks like it could come out of the pandemic stronger than before. Of course, the pandemic has had a widespread effect on all businesses, with CPS being no exception.
Penny Stocks to Watch: Evogene Ltd.
Evogene Ltd. is a computational biology company working on revolutionizing the life sciences industry. The company states that it’s platform known as the CPB platform, incorporates artificial intelligence to discover new areas of genetic development. Evogene has since been working on producing human therapeutics through its various pipelines. The company recently completed a registered direct offering worth around $9.8 million. With this, it should be able to further its research and development of the CPB platform as well as the drugs in its pipeline. On November 2nd, the company announced its Q3 financials for the period ending on September 30th.
In the results, Ofer Haviv, CEO of the company stated that “we continue to be very pleased with the progress being achieved by our subsidiaries, which has been very rapid, and in certain areas even exceeding our plans, despite the ongoing Covid-19 pandemic. The company recently completed two rounds of fundraising for a total of $22 million. We are confident that the net proceeds from our recent fundraisings, combined with our existing cash resources, will provide the funding required to achieve a number of key objectives in the further development of the promising product pipelines.”
As a biotech penny stock, EVGN stock has remained on many investors’ watchlists.
Penny Stocks to Watch: Iterum Therapeutics plc
Iterum Therapeutics plc has slowly but steadily climbed over the last week. Since November 16th, ITRM stock moved up roughly 13%. The company was coming off of a better earnings report this Q3 compared to last year’s same quarter results. Iterum reported an EPS loss of $0.60, which was much better than last year’s loss per share of $2.15.
While there’s still likely much more work to be done, the company has remained focused on its pipeline. Specifically, Iterum develops oral and IV antibiotics to treat infections caused by multi-drug resistant pathogens in both community and hospital settings. Its first compound, sulopenem, is being advanced for combatting gram-negative, gram-positive, and anaerobic bacteria resistant to other antibiotics.
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But it wasn’t just the earnings that had actually turned heads going into the rest of this week. On Monday, in the company’s filings, a 13D showed that Sarissa Capital Management LP took a significant position in Iterum. This wasn’t 15% or 20% but a stake equal to 30.95% of the company’s stock. This is one of the company’s latest biotech investments. Sarissa has a history of making investments in the sector with Iterum being the newest and includes a major stake in the company itself.
