Top Penny Stocks To Watch To Start 2021
You can’t ignore the fact that penny stocks are already off to a red hot start in 2021. The last 2 days alone have seen several cheap shares explode to fresh highs. Many of these moves have come on the heels of pent up momentum at the end of last year. Needless to say, it’s never too late to start looking for potentially the next round of penny stocks to rally.
With one of the wildest years in history behind us, 2021 is a new year with many stocks in focus. As the COVID pandemic hit at the beginning of 2020, many popular penny stocks dropped substantially in value. Soon after, however, prices began to climb once again. Now, around a year later, traders are still searching for the top penny stocks to buy. In the past three months, the positive momentum in the stock market has been overwhelming. And while the first real trading day of 2021 was quite rough, Tuesday, January 5th showed much more momentum for stocks under $5.
So what are traders looking at right now? Are there certain trends to consider or just “penny stocks” in general? Some of the hot corners of the stock market right now are in several key industries including energy, healthcare, and technology. Considering that traders are focused on volatility, penny stocks within these industries have seen a jump in action. Are any of these on your watch list right now?
Hot Penny Stocks To Watch
- Sunworks Inc. (SUNW Stock Report)
- NexGen Energy Ltd. (NXE Stock Report)
- Pioneer Power Solutions Inc. (PPSI Stock Report)
- Guardion Health Sciences Inc. (GHSI Stock Report)
- Isoray Inc. (ISR Stock Report)
Hot Penny Stocks to Watch: Sunworks Inc.
Sunworks Inc. is a provider of power systems for a wide range of markets in California, Massachusetts, Nevada and more. Funny enough, after a 6% gain on January 5th, SUNW stock sits at around $4.99 per share. This means that it is just shy of no longer being a penny stock. Regardless, SUNW is working on several projects that could make it a penny stock to watch in the meantime. The company states that its projects span everything from agricultural and commercial to residential and public works. In addition to providing these solar systems, the company also installs and designs various solar projects for use by its customers. One of the issues that investors found with SUNW is that its balance sheet showed a great deal of debt.
But last month, Sunworks raised around $20 million in gross proceeds. With this, the company was able to swiftly pay off more than $2.7 million in debt. Chuck Cargile, Chairman of the Board for Sunworks stated that “we have successfully bolstered our balance sheet, eliminated costly debt, and strengthened our working capital position, better positioning us to navigate the covid-related challenges impacting our operations, our industry, and the economy as a whole. Additionally, we are actively recruiting a permanent CEO to lead the next phase of Sunworks’ evolution and fulfillment of backlog.”
With the added interest in things like alternative energy and renewables, SUNW stock has been one to watch. In fact, since June, shares of this solar stock have climbed over 770% to date.
Hot Penny Stocks to Watch: NexGen Energy Ltd.
NexGen Energy Ltd. is one of the bigger gainers of the day on January 5th. During the trading day and into after-hours, NXE stock shot up by around 13%. NXE sits in a very unique category of the energy and raw materials industries. The company works by engaging in the acquisition and exploration of various uranium assets in Canada. It also holds a 100% interest in the Rook I project. This project alone contains roughly 32 mineral claims that cover over 35,000 hectares of land according to the company. While there isn’t a great deal of information regarding what the company is up to right now, we can look at what external factors may be impacting it.
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As a producer of uranium, NexGen Energy could benefit from incoming administration. Joe Biden has stated that he wishes to bring the U.S. toward sustainable energy in the long term. While nuclear energy is not yet the primary choice in the U.S., it has immense long-term potential. In the past month, shares of NXE stock have shot up by over 35% including the gain on January 5th.
Furthermore, in the past six months, shares are up by a staggering 115% or so and since March, that number jumps up to over 500%. As you can see, there are a lot of bulls continuing to show interest in NXE stock.
Hot Penny Stocks to Watch: Pioneer Power Solutions Inc.
Pioneer Power Solutions Inc. is one of the largest after-hours gainers of the day. On January 5th, PPSI stock ended the day with around 22% in gains. Similar to Sunworks, Pioneer Power Solutions works in the energy industry but in a slightly different way. Pioneer Power manufactures and sells a wide range of electrical distribution and power generation products. This includes products for use in industrial, commercial, and back-up power industries. As an ancillary energy penny stock, the company could also have benefited from bullish sentiment stemming from the incoming administration. Additionally, Pioneer recently announced that it had secured a $3.5 million order for a power center based in Hawaii.
Nathan Mazurek, CEO of Pioneer Power stated that “Pioneer Power continues to win business because of our proven ability to customize solutions for unique electrical and mechanical applications. This order, combined with our existing backlog and growing demand for our expertise, gives us increased confidence that our switchgear business revenue and profit should grow notably during 2021 when compared to 2020.”
With all of this in mind, PPSI looks like a very interesting penny stock in the energy industry.
Hot Penny Stocks to Watch: Guardion Health Sciences Inc.
Guardion Health Sciences Inc. is a penny stock that we have been covering for a few weeks at this point. The company stands out as a U.S. based provider of medical foods and medical devices. One of the reasons that we have continued to cover GHSI stock is its market position. During the pandemic, health has become the utmost priority for the majority of the population. While Guardion Health isn’t working on anything specifically tied to COVID, it has received a lot of attention for its role in the biotech industry.
Guardion Health has a large pipeline of products in both the medical food and medical devices markets. This includes CSV-1000, CSV-2000, MapcatSF and more. The majority of its products are directed at improving the health of the eyes. While this may sound like a niche market, Guardion has found a large market share within the ocular health industry. Around three weeks ago, Guardion announced that it has progressed in the development of its Epiq-V product.
The company states that the product will be available within 12-16 weeks of the final testing round. Interestingly enough, this product is geared toward Asia, with a sizable foothold already established in China. In addition, the company is working on gaining all of the approvals necessary to sell this product in the U.S. Since the start of December GHSI has been one of the hottest penny stocks under $1 to watch, up over 214% during that period through Tuesday’s aftermarket. Another interesting thing to consider is that within the last 2 days alone, the penny stock has climbed99% so far. With all of this considered, will GHSI be on your list of penny stocks to watch in January?
Hot Penny Stocks To Watch: Isoray Inc.
Isoray Inc. is the last on this list of penny stocks. However, these are in no particular order. However, similar to Guardion, Isoray surged during aftermarket trading on Tuesday. Shares of ISR stock jumped to highs of $1.50 putting its 2021 rally at 223% so far. This is another one of the penny stocks we’ve been discussing frequently during December. Originally, we had highlighted the company against the backdrop of insider buying.
Fast-forward a few weeks and we might’ve seen why insiders were bullish on the stock. After-hours on Tuesday, Isoray announced big news. The company received FDA 510(k) clearance for the use of C4 Imaging’s Sirius® positive-signal MRI Markers with Isoray’s Cesium-131, brachytherapy seeds.
Isoray CEO Lori Woods commented, “This achievement represents another step forward in Isoray’s leadership in providing effective prostate cancer therapeutic tools to patients and the doctors who treat them. We are excited to partner with C4 Imaging and bring together the benefits of their innovative technology and our proprietary isotope to achieve new strides in the ongoing fight against prostate cancer.”