Are These On Your List Of Top Penny Stocks To Watch This Week?
When you talk about penny stocks and analyst ratings, it’s sometimes hard to fathom the idea of certain stocks rallying so big. In many cases, not only do analysts slap a buy rating on these stocks. They also put lofty targets on them. Personally, I take these pieces of information in stride.
At the end of the day, many of these ratings are based on certain events at certain points in time. While analysts aren’t the end-all, they should take time to research a bit more than the average Joe. With that, the information gathered from analysts can be used as part of the entire due diligence process. But I wouldn’t base an entire thesis on what analysts solely say.
- Are These On Your List Of Penny Stocks To Buy Right Now? 4 To Watch
- Are Marijuana Stocks On Your List Right Now? 5 Penny Stocks To Watch
So what are some ways to research beyond what these firms discuss? Simple, look at what’s publicly available and follow trends. See if there are bigger companies in certain sectors doing something that could trigger momentum. Observe a company’s filings to see if there are bigger funds buying shares. See if there are insiders making moves & taking positions. Then it’s also not a bad idea to see what the social sentiment is. What are people saying about certain penny stocks on Reddit, Twitter, etc. We’ve seen plenty of times in the past that rumors can sometimes trigger momentum on their own.
Looking For Top Penny Stocks To Buy Right Now?
This week we’re looking to see certain economic data shed light on progress. Jobless claims figures came out on Thursday morning. First-time claims for unemployment benefits totaled 712,000 last week. This was compared to 787,000 a week earlier and the Dow Jones estimate of 780,000, the Labor Department reported. This data marked the first time during the global pandemic that the weekly total was as low as it was.
While it’s still much higher than pre-pandemic levels, it has been a sign of potential rebounding in the economy. Obviously, as we’ve seen, that can change in less than a week’s time depending on coronavirus cases. Heading into the end of the week, there are several penny stocks trading higher; some with lofty price targets. In light of the recent data, are any of these on your list right now?
Penny Stocks To Buy [or avoid]: Houghton Mifflin Harcourt
Houghton Mifflin Harcourt (HMHC Stock Report) has been on our list of pandemic penny stocks to watch quite frequently. Aside from the intermittent volatility trends, overall, HMHC stock has managed to make a strong move over the last 7 months. After hitting a low of $1.03, shares are now back above $3.50 in December. The company has been focused on virtual education options for its clients.
Last month the company partnered with Montgomery Public Schools to implement Amira Learning ™. This is the first intelligent reading assistant that listens to, assesses and tutors learners to build early literacy for students. The company also revealed in a filing that it’s exploring the sale of its HMH Books & Media consumer publishing unit. According to the company, a potential sale would equate to reduced debt and build upon the company’s October 1 restructuring plan which focuses on a more digital approach.
Something to note if HMHC is on your penny stocks list, however, is that it did file a shelf registration last month. This allows the company to sell up to 19.5 million on behalf of selling shareholders as they see fit. While this could present potentially dilutive events, for now, the trend remains bullish.
Penny Stocks To Buy [or avoid]: Isoray Inc.
Isoray Inc. (ISR Stock Report) is another one of the penny stocks taking off on Thursday. The company’s shares are trading higher after a filing revealed insider buying by CEO Lori Woods. This purchase amounted to 68,000 shares at an average price of $0.3755. Considering the rut that the penny stock has been in, this came as a welcome sign to traders during the second half of the week.
The company’s focus on treating different cancers has brought about new developments for Isoray. However, capital raising efforts have ultimately hurt the company in more recent months. Back in October, Isoray announced a $9.5 million offering at 52 cents. But that also didn’t stop insiders from continuing to buy ISR stock. In total, more than 200,000 shares were purchased by officers and directors from the public offering at $0.52.
Without any recent headlines, ISR stock appears to be trading higher on upbeat sentiment stemming from the insider buy. Prior to the October Drop, ISR stock was trading well above $0.50 as the company focused on its Cesium-131, or Cesium Blu product. Isoray recently entered into a research grant agreement with a leading cancer center to study the treatment of metastatic melanoma. In this immuno-oncology study, Cesium-131 will be used in combination with an immune checkpoint inhibitor.
Penny Stocks To Buy [or avoid]: Aemetis Inc.
Similar to ISR, Aemetis Inc. (AMTX Stock Report) saw a drop earlier this quarter. Instead of a financing announcement, AMTX stock dropped after the company missed the mark on its earnings. Aemetis reported an EPS loss of 59 cents which was much larger than the 5 cent EPS loss estimated. Furthermore, sales missed too with the company reporting just $40.9 million compared to $59.7 million estimates.
The company focuses on renewable fuels and biochemicals. Despite reporting these misses, Aemetis did experience growth on a quarter over quarter basis. Ethanol and high-grade alcohol gallons sold increased 11% to 15.2 million gallons compared to the second quarter of 2020. Biodiesel metric tons sold also increased over the second quarter of 2020. In this case it was a 216% jump.
“After obtaining the Food and Drug Administration National Drug Code for sanitizer products, Aemetis Health Products began production during the third quarter to expand product offerings into key markets for hand sanitizers, personal care and cleaning products. Sales of the new sanitizer products are planned to be supported by production of United States Pharmacopeia medical grade alcohol beginning in the first half of 2021.”Eric McAfee, Chairman & CEO of Aemetis, Inc.
This week, H.C. Wainwright initiated coverage on the company giving it a buy rating. The AMTX stock forecast from the firm also put a $10 target on the stock; that’s 247% higher than current levels right now.
Penny Stocks To Buy [or avoid]: Cellectar Biosciences Inc.
Another one of the companies we’ve followed closely this year is Cellectar Biosciences Inc. (CLRB Stock Report). While it’s been mostly something day traders have followed, the last week has been one of the most exciting for the penny stock. What’s more, is that if you’re looking at CLRB stock right now, it’s important to monitor the current trend and behavior of the stock. I say this for two reasons.
The first reason is that shares have climbed over 90% in just the last 3 days. Parabolic moves like this can either continue or completely implode depending on the followthrough momentum; if any. Second, CLRB stock tested a level that it hadn’t seen since March: the $2.40 level. Last time it traded here, the stock failed to break higher and the drop was compounded even more with the onset of COVID.
In its most recent quarterly update, James Caruso, CEO of the company, stated that “we continue to make good progress towards the fourth quarter initiation of the CLR 131 pivotal study in our lead heme-oncology indication. Our recent FDA guidance meeting was most encouraging and we look forward to providing greater details in the near term.”
So this might’ve become a speculative driver of momentum recently. What’s more, is that analysts at Roth Capital show their own bullish sentiment in 2020. The firm has a Buy rating on CLRB along with a $10 price target; 331% higher than the current trading levels. But again, keep in mind the technical trend too as this could pose a higher risk situation after the last 3 days of activity.