These Top Penny Stocks Gained Attention on Wednesday; Were You Watching? 

Wednesday, January 13th was an interesting day for penny stocks. On one hand, we saw many leading names in tech and biotech, get a boost. As a whole, the NASDAQ and NYSE were relatively flat during trading, signaling calm before the coming events. In the next two weeks, political uncertainty will be high yet again in the U.S.

After the market closed on Wednesday, the announcement came that the House had voted to impeach President Trump for a second time. While this does not mean immediate impeachment, it is a story that will likely have some kind of impact on the stock market in one way or another. At the present moment, it is difficult to tell just how much penny stocks may be affected, however. They’ve been relatively insulated from broader trends. 

Given that Trump only has seven days left in office, the market could remain calm in the coming week. This leads us into the next political event which is Joe Biden’s inauguration on January 20th. His presidency could spark growth in industries such as electric vehicles, renewable energy, and cannabis among others. With this information in mind, investors can see that there are a few speculative events going on right now. All things considered, here are four penny stocks with above-average volume on January 13th. Will these be the top buys before next week? 

Penny Stocks to Watch

Titan Medical Inc. 

After climbing on January 13th, TMDI stock definitely caught investor attention. In the past month, shares of TMDI are up by over 45% and in the past six months, by almost 130%. Titan Medical works on producing devices for use in robotic-aided surgery. This includes those used in minimally invasive surgeries as well as more complicated procedures. In addition to its robotic surgery devices, the company has a large range of products for use in other areas of the operating room. This includes high definition video instruments, surgical carts, and more. 

This week, Titan announced that it filed a preliminary short form prospectus for a 6.45 million share offering. The goal with this is to raise around $10 million in proceeds with Bloom Burton Securities acting as the underwriter. The company states that the capital from this offering will go toward the advancement of its robotic surgical devices as well as for working capital.

Fundraising deals like this are quite common in the biotech industry. This is because it allows the company to grow without relying solely on revenue. Currently, investors are paying a lot of attention to biotech penny stocks due to the pandemic. Whether or not this makes TMDI a penny stock to watch is up to you. 

Penny_Stocks_to_Watch_Titan Medical Inc. (TMDI Stock Chart)

IsoRay Inc. 

IsoRay Inc. is a company that we have covered a few times so far in January. In fact, since the start of the year, shares of ISR stock have climbed over 340%. With this considered, the company does have a lot of exciting biotech milestones planned. IsoRay works as a developer, manufacturer, and wholesaler of medical devices and pharmaceutical compounds. These products are utilized in medical practices that specialize in treating cancer and other malignant illnesses. One of its flagship products, Cesium-131, has received a great deal of attention from the medical world.

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At the Astro 2020 annual meeting held last year, IsoRay CEO Lori Woods stated that “it is very gratifying that so many Cesium-131 studies made it through review to the meeting proceedings of the world’s leading organization in radiation oncology. A tremendous amount of work goes into each study at these respective institutions, and each illustrates a continued interest in research related to Cesium-131 cancer treatment.”

Several presentations at the conference cited IsoRay’s Cesium-131 as being potentially beneficial in treating prostate and brain cancer. What’s more, is that milestones like this attracted attention from analysts at Oppenheimer. The firm increased its price target to $1.50 from $1 and maintained its Outperform rating. With this exciting news in mind, will ISR be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_IsoRay Inc. (ISR Stock Chart)

Ur-Energy Inc. 

One of the bigger gainers of the day on January 13th was Ur-Energy Inc. During trading and into after-hours, shares of URG stock shot up by around 54%. In the past month, quite a bit of bullish interest has grown from investors. For some context, URG is a mining company specializing in the recovery of uranium-ore.

Ur is based in southern-Wyoming, where it conducts its operations. At its Lost Creek facility, the company has shipped more than 2.6 million pounds of uranium since its commencement. One thing to keep in mind is that the recent trading patterns for URG stock are purely speculation. Additionally, the company put out a press release on January 13th, stating that it has no information to explain the recent volume and price increases that have occurred. 

So to explain this increase, we have to look at the uranium market as a whole. Several similar uranium penny stocks like Energy Fuels Inc. (NYSE: UUUU), have increased in value greatly over the past few months. The main reason behind this is the heightened demand for uranium in the U.S. as part of a national strategic reserve boost. In December of 2020, the U.S. Senate Committee on Environment and Public Works approved a bill that would increase the U.S. stockpile of uranium. Since that time, production of the nuclear ore has increased substantially.

Penny_Stocks_to_Watch_Ur-Energy Inc. (URG Stock Chart)

PolarityTE Inc. 

We’ve started covering PolarityTE again at the beginning of 2021 and so far it has been a story of big momentum. Since January 4th, shares of PTE have climbed as much as 150%. The company works on the discovery, design, and development of various biomaterials and bio-tissue products. Additionally, PolarityTE operates across several different markets including medical, biomedical engineering, and material science. What makes PolarityTE unique is that it utilizes the patient’s own tissue to support the regeneration process in the body. This is a cutting-edge field and one that has lower competition than most. The company states that it has several proprietary technologies that have large, real-world applications. 

[Read More] Top Penny Stocks To Buy Now? Analyst Have Targets Up To 386% On 5

On January 12th, PolarityTE announced a $10 million registered direct offering. The offering will include the sale of around 9.09 million shares of common stock at an exercise price of $1.20 per share. This money was also raised as the company formed its new Strategic Review Committee. The move comes after Gatemore Capital (holders of over 5% of the company) sent a letter to the company demanding it reconsider its fundraising activities. The firm pointed out that there is still “immense potential of SkinTE and the intrinsic value of the Company’s intellectual property.”

Ultimately, Gatemore aims to push the company toward restructuring its leadership and board & form a strategic alternatives committee. Upon the formation of the new Committee, Peter Cohen, Chairman of the Board said, “The Board believes that, working with the FDA, the pursuit of a BLA for SkinTE is the right path to improving shareholder value in the future.”

Shares slipped a bit after announcing the raise. However, the last few sessions seem to have been trading in a tighter channel so far. It will be interesting to see the progress of the company in light of its new strategic alternatives committee.


Top Penny Stocks Continue Surging In 2021

Whether you’re a big fish trading large positions or a small fish just getting started, penny stocks are surging right now. You don’t need to look too far to find at least one name grabbing big headlines this week. In addition, the small cap indexes like the the Russell 2000 are outperforming larger-cap benchmarks like the S&P. Case in point, while the SPX treaded water on Wednesday, the Russell made new, all-time highs. One thing to keep in mind amid all of this hype is that emotions can play a big role. So if you are looking for top penny stocks right now, make sure to keep a level head and concentrate on 1 thing: making money.

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