Are These Small-Cap Stocks On Your December Watch List?
Small-cap stocks are crushing milestones in 2020, which is why so many are looking for penny stocks to buy right now. While not all penny stocks are considered small caps, a good benchmark of health is the Russell 2000 ETF (IWM ETF). We’ve made mention of this phenomenon earlier this month.
Specifically, we discussed the fact that the S&P 500, namely the SPY ETF had pulled back from its December highs. Meanwhile, small-cap stocks indicated by the Russell were cruising higher and higher almost every day. Obviously, one of the easiest ways to “follow the money” is to see which industries and/or sectors are moving higher. Furthermore, it’s also not a bad idea to see if certain types of stocks are performing better than others.
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In this case, we identified a stronger trend in small caps compared to the market’s top 500. In fact, if you look at the IWM right now in December, it’s only closed red 3 times. It’s also up about 5.5%, month to date. Now, let’s look at the S&P (SPY ETF) during the same period. The month of December has only seen 2 red days but the trend has been mostly sideways. That’s even in spite of the ETF making new all-time highs of its own. Month to date, the SPY is up barely 1%. So where do you think day traders are looking for opportunities right now?
Top Penny Stocks To Watch: Qualigen Therapeutics, Inc.
Qualigen Therapeutics, Inc. (QLGN Stock Report) was just issued a U.S. patent for expanded applications of the ALAN anticancer platform technology. The patent was issued to the University of Louisville and protects the technology for use with radiation therapy for cancer. It also protects the technology for imaging tumors using an MRI. The company has a Sponsored Research Agreement with the University for advancing the development of the anticancer platform.
What To Watch With Qualigen
While this patent is a great asset to the companies. There are other things to keep in mind heading into 2021. The foremost of which is the company’s upcoming clinical trials. Earlier this month, Qualigen buttoned up the recertification of its supply of AS1411, and began final formulation and filling for use in its proposed Phase 2a efficacy trials. These trials focus on AS1411 for the treatment of patients with COVID-19. Qualigen expects to seek FDA approval for and to begin these trials in the first half of calendar 2021.
Even with the roll out of several vaccines already, the company sees this as an opportunity to capitalize. Obviously there are treatments for things like influenza and other viruses but constant development of new vaccines. In light of this, the company is in agreement as management sees potentially different forms of COVID coming about.
Top Penny Stocks to Watch: Amyris Inc.
Amyris Inc. (AMRS Stock Report) is a biotech penny stock that has pulled in some solid gains over the past month or so. Since early November, shares of AMRS stock have skyrocketed from $1.88 to $3.69 this week. This represents an almost 100% gain during that time period.
Although Amyris missed its estimate in its latest earnings report, we have to account for the effects of COVID on all stocks of different types. In its Q3 2020 results, the company announced that sales revenue was up in its consumer sector by 203% year over year. In addition, the company reported a negative adjusted EBITDA of $33 million. While this may seem dim, the company currently has a lot going for it.
In the report, CEO of the company, John Melo stated that “the third quarter of 2020 was another strong quarter for our company. Our ability to deliver record product revenue in these difficult and uncertain times is a testament to the resiliency of our team, the growing trend of consumers’ commitment to sustainable brands, our products, and the robustness of our business model.”
What To Watch With Amyris
In the report, the product revenue sector was one of the main attractions. With a 58% growth rate over the previous year’s third quarter, it looks like Amyris may be finding its stride. What’s more, is that the company’s Biossance beauty brand experienced considerably higher sales in November with Black Friday pushing record figures.
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Furthermore, if you’re watching AMRS stock right now, the company launched an investor mini-series this month. Tuesday is the day it hosts the first presentation and Q&A. Amyris plans to hold a second session in the series with a focus on its Consumer portfolio during the first quarter of 2021.
Top Penny Stocks To Watch: Fuel Tech Inc.
Fuel Tech Inc. (FTEK Stock Report) is one of the energy penny stocks that’s turned some heads recently. If you remember our coverage on former penny stocks like FuelCell Energy (FCEL Stock Report) and Plug Power (PLUG Stock Report), the focus was on alternative power solutions. In light of this, the industry as a whole has begun to get referenced as the ESG industry. What are ESG stocks? This stands for Environmental, Social, and Governance and essentially includes companies looking to make the world more environmentally and socially responsible. When we talk about the burgeoning alternative fuels and energy space, there’s more than just fuel providers and fuel cell makers to consider.
What To Watch With Fuel Tech
In the case of Fuel Tech, the company commercializes technologies for air pollution control, water treatment, among other things. Its Fuel Chem technology, for example, works by increasing the efficiency and reliability of combustion units. The company states that its products have a wide range of applications including biological waste treatment and waste odor management.
Heading into 2021, it’s important to keep the company’s project backlog in mind. “Within our Air Pollution Control (APC) business segment, we remain intensely focused on providing custom-engineered solutions that fulfill the unique needs of each of our customers, and expect the final decisions to be made on multiple projects by the end of the year which, if Fuel Tech’s bids are selected, would increase backlog for 2021 and beyond by $10 to $15 million,” said President and CEO Vincent J. Arnone, in Fuel Tech’s latest quarterly update.
Top Penny Stocks To Watch: Teligent Inc.
Teligent Inc. (TLGT Stock Report) pulled back from Monday’s highs overnight. Since the beginning of the Tuesday session, however, TLGT stock resumed its uptrend this week. The company is a generic pharmaceutical company. Its products include both injectable and topical prescription medicines. With some 250 employees, it isn’t necessarily one of the smallest biotech companies on this list of small cap stocks.
What To Watch With Teligent
Much of the attention has focused on the company’s upcoming Special Meeting of Shareholders. It’s to reconvene on Wednesday. The purpose of the meeting was to ask stockholders to approve removing a restriction on the number of shares a holder or group of holders of the company’s 9.5% Series C Senior Secured Convertible Notes due 2023 may own at any one time.
In the meantime, we’re seeing strong, speculative trading activity take shares higher this week. This has sustained trading levels for TLGT more than 100% higher than where it was trading at in late October. Again, keep in mind, there’s a lot more speculation fueling momentum right now and the ultimate catalyst could come with a concrete outcome to the Special Meeting this week.
Top Penny Stocks to Watch: Uranium Energy Corp.
Uranium Energy Corp. (UEC Stock Report) is a U.S.-based mining and exploration company working on the production of uranium ore. The company has several mining projects around the country such as those of Arizona, New Mexico, and Colorado. In addition, the company states that it has several mines located in Paraguay. On December 15th, UEC announced its Q1 2021 financial results for the period ending on October 31st.
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During trading on Tuesday, shares of UEC stock bounced up by as much as 13% to a midday price of $1.81 per share. In the report, the company announced that it ended the quarter with around $6.7 million in cash and cash equivalents. This is almost $1.6 million more than the company reported in its previous quarter. In addition, the company was able to reduce its debt by around 7% over the previous quarter.
What To Watch With Uranium Energy
Over the past five trading days, shares of UEC are up by almost 20%. In the past six months, shares are up by more than 80%. Many investors consider uranium to be a part of the renewable energy sector. And as mentioned previously, a Biden presidency could be a benefit to this area of the energy industry.
What’s more, is that recently, the Senate Appropriations Committee included $150 million for 2021 funding of the strategic Uranium Reserve outlined in the Nuclear Fuel Working Group report and the U.S. Government’s 2021 Budget. This month, the Senate Committee on Environment and Public Works approved the bipartisan American Nuclear Infrastructure Act that includes provisions for the U.S. Uranium Reserve Program. So as global nuclear energy demand continues to grow and new initiatives are put in place, companies like Uranium Energy could be ones to watch heading into the new year.
