Penny Stocks To Buy According To These 3 Analysts
Here we are, the final few weeks of 2020 and of course, we’re looking for top penny stocks to watch right now. Whether you’ve been watching on the sidelines are “getting into the game” the stock market has been a sight to see. Stocks sold off to 2017 levels earlier in the year. Then this month, the market recorded new all-time highs.
While stimulus measures have helped, we’ve also seen a flood of new traders enter the market. If you look at some of the brokerage growth statistics of 2020, you’ll see what I mean. In particular, check out the figures coming from Robinhood. Obviously, the latest headlines put the app in a very negative light, it doesn’t seem to have put a pause to the number of users trading penny stocks every day.
Last week, we discussed two new regulatory issues for Robinhood. One came from the State of Massachusetts, the next was a formal charge by the Securities & Exchange Commission.
- Robinhood Under Fire, SEC Charges Firm With Misleading Customers
- Robinhood Catches Heat From Massachusetts Regulators
But the fact remains, even in light of these latest allegations, Robinhood has established itself as a major player when it comes to new traders. So, with that, obviously, we receive plenty of questions about penny stocks on Robinhood. The main reason is that the app restricts access to certain issuers. Mainly, we’ve seen that OTC penny stocks have limited to no access whatsoever. If you check out OTC penny stocks vs Nasdaq/NYSE penny stocks, you’ll see that risk and reporting requirements likely play a role in this.
Robinhood Penny Stocks To Watch
- Arbutus Biopharma Corporation (ABUS Stock Report)
- Denison Mines Corp (DNN Stock Report)
- Net 1 UEPS Technologies Inc. (UEPS Stock Report)
- Gevo Inc. (GEVO Stock Report)
In any case. for those looking to buy penny stocks on Robinhood, there are still plenty of opportunities. With thousands of Nasdaq/NYSE penny stocks still in play, you’ve really got your pick of the bunch. Here are 4 that’ve gained bullish interest from analysts & 2 have significantly higher price targets than their current trading prices.
Robinhoo Penny Stocks To Buy [HC Wainwright]: Arbutus Biopharma Corporation
If you’ve searched for some of the top penny stocks to watch this quarter, Arbutus might’ve come onto that list a few times. While ABUS stock popped earlier this year, Q4 has remained one of the most active periods of the year for the company (and stock). Why is ABUS one of the Robinhood penny stocks to watch right now?
Aside from the obviously bullish move this quarter and recent consolidation, Arbutus is something to watch for its hepatitis treatment platform. The last few weeks have seen the company report significant progress on AB-729-001. There’s an ongoing Phase 1a/1b clinical trial on the treatment. This month, Arbutus reported strong data supporting AB-729 for treating chronic hepatitis B. Arbutus has also initiated a drug discovery and development effort for treating coronaviruses including COVID-19. Since its treatment platform is based on principles of RNA interference, it could be something to keep track of, considering other COVID treatments hitting the market.’
HC Wainwright has also recently weighed in on the treatment potential of the company’s pipeline. Analyst Ed Arce mentions that company is “unique as an hepatitis B virus pure-play given that its management has designed and assembled a broad, proprietary portfolio.”
He also sees momentum compounding for AB-729, with “more definitive, positive” multi-dose data in Q1 “likely to represent a significant stock catalyst.” In light of this, ABUS has a Buy rating and $10 price target; 129% higher than Friday’s closing price.
Robinhood Penny Stocks To Buy [TD Securities]: Denison Mines Corp
Denison Mines Corp. is another one of the penny stocks moving strongly during the 4th quarter of 2020. Specifically, DNN stock has been one to really watch since the start of November. During that period, DNN stock managed to jump as much as 85%. This month shares reached highs of $0.6295 and after consolidating for a few days, last Friday marked the first big turn-around day for the penny stock. Will that continue this week? We’ll obviously have to see how things open up on Monday. However, it might not be a bad idea to have some mining stocks on the watch list especially considering how last week closed out.
Most importantly, energy stocks have been gaining ground a lot more recently. Namely, alternative energy and non-fossil fuel based producers. What might’ve also been one of the unsung heroes right now is nuclear energy production. One of the main ingredients is obviously uranium, which Denison mines. Something else to note is that the company is now evaluating the potential use of the in-situ recovery (ISR) mining methods. This method could allow the company the benefit of not incurring having to discover and develop massive-scale uranium mines while generating optimal output especially at its current Tthe Heldeth Tú é deposit.
The selection of the ISR mining method for the Tthe Heldeth Tú é deposit has transformed our expectations for the Project – generating robust preliminary financial results with comparatively modest upfront capital costs.”David Cates, President and CEO of Denison
Right now TD Securities carries a Buy rating on the stock. However, the firm hasn’t given a price target currently.
Robinhood Penny Stocks To Buy [B. Riley]: Net 1 UEPS Technologies Inc.
Net 1 UEPS Technologies Inc. has a buy rating from B. Riley right now along with a $5 price target. While this target is modestly higher, the price of UEPS stock has dramatically changed since the rating & target were given in September. Also, you’ll notice on the stock chart, that December was a big money for the penny stock so far. Shares of UEPS have climbed from $3.30 to highs of over $4 with volume increasing over the last few weeks.
Something to note with Net 1 is that it’s in the fintech space. With the rise of digital processing and online retail taking center stage this year, companies like Net 1 have grown in popularity. The company itself has a much larger international footprint built out in places like South Africa and South Korea.
Aside from the obvious interest in fintech penny stocks right now, the company’s filings are a key point of interest. If you pull up the latest round of statements, you’ll see several Form 4s filed over the last few weeks. These showed insiders and large holders like Value Capital Partners are picking up hundreds of thousands of shares right now. Will this continue stoking bullish momentum into the end of the year for UEPS?
Robinhood Penny Stocks To Buy [HC Wainwright]: Gevo Inc.
Gevo Inc. $5 price target from HC Wainwright puts the GEVO stock forecast price 109% higher than Friday’s closing price. The company’s long been one of the penny stocks to watch as alternative energy stocks take a core focus before the inauguration of Joe Biden in January. His administration’s initiatives for alternative energy have helped give the industry a boost as well as off-shoot niches like electric vehicles.
Gevo, in particular, develops biofuels and zero carbon emission fuels. In particular, the company’s pipeline and backlog has been in the discussion for months. In its latest quarterly update, CEO Dr. Patrick R. Gruber explained how big of a turning point the second half of the year has already been. In particular, Gruber highlighted its deal with Trafigura, a major energy player. This deal brought its total off-take total to roughly 48MGPY, representing a value of about $1.5 billion of revenue across the life of the contracts.
Something else to consider heading into 2021 is what’s planned for the upcoming quarter. Gevo began producing approximately 50,000 gallons of renewable isobutanol. The plan is to ship the isobutanol for use in the production of renewable hydrocarbons during the first quarter of 2021 with more planned for the second quarter of 2021.