4 Penny Stocks To Watch Today
Penny stocks on Reddit have become popular once again. Late Wednesday afternoon, a cryptic Tweet from “GameStock” board member Ryan Cohen sparks a flurry of buying in certain names. GameStop (NYSE: GME) was one of them. But that sympathy sentiment carried over into names that previously exploded the last time GME broke out.
Call it a short squeeze or a gamma squeeze; the result was a big win for retail investors. It was also a sigh of relief for many traders who’ve been battling with their first taste of “stonks not always going up” this week. Uncertainty ahead of Jerome Powell’s testimony, along with no apparent end to the stimulus flip-flop, had markets shaky earlier in the week.
While the first few days of February’s final week got off to a rough start, many penny stocks are making a big comeback right now. This seems to be due to the natural ebb and flow of the stock market, in addition to favorable responses by Powell on Tuesday and Wednesday.
Because they are so volatile, penny stocks often give an opportunity that blue-chip stocks cannot match. That opportunity is producing significant gains quickly. Now, it’s worth noting that this volatility can work against traders if they’re not carefully watching their portfolios. With all of this in mind, here are four penny stocks that see higher volume right now. Will they be on your list before March?
Penny Stocks to Watch
- Senseonics Holdings Inc. (NYSE: SENS)
- Evofem Biosciences Inc. (NASDAQ: EVFM)
- Dynatronics Corp. (NASDAQ: DYNT)
- Brookdale Senior Living Inc. (NYSE: BKD)
Senseonics Holdings Inc.
We’ve covered SENS stock for quite some time for a few reasons. First, Senseonics shares have seen several days with large double-digit gains. While this does indicate high volatility, it also shows that there could be an opportunity for investors to capitalize upon. Second, Senseonics is working on several new and groundbreaking pieces of technology aimed at the biotech sector.
This includes its CGM Systems as well as its Eversense and Eversense XL products. Both of these are aimed at treating diabetes through the use of smart transmitting technology. With so many suffering from diabetes in the U.S. and abroad, Senseonics sees a large opportunity in this market. Its software offers patients an easy way to identify and track the various factors contributing to daily life for those with diabetes.
Last week, the company announced that it would be publishing its Q4 2021 financial report on March 4th. A few weeks before this, the company announced that it had initiated Ascensia Diabetes Care to help market its Eversense XL product in Europe. Tim Goodknow, CEO of the company, stated that “today, we are extremely excited to see Ascensia, a global leader in the diabetes technology space, begin distribution of the Eversense XL in these key European markets. We are confident our shared goal of bringing our advanced long-term solution to more people with diabetes will be accomplished.”
With this latest news and the upcoming earnings report in mind, is SENS worth watching?
Evofem Biosciences Inc.
Another biotech penny stock that we have covered numerous times is EVFM. Evofem is a biopharmaceutical company working in the women’s sexual and reproductive health market. This includes products such as Phexxi and EVO100, which are two key compounds to Evofem’s pipeline. Phexxi is currently in use as the only hormone-free gel that can prevent pregnancy. Additionally, EVO100 is being studied for its use in the prevention of certain STIs. Like Senseonics, Evofem states that it will be announcing its Q4 2021 financial results on March 4th. It will do so during after-hours trading. Ahead of this, let’s take a look at what Evofem is up to right now. The company has been working heavily to commercialize Phexxi to produce as much revenue as possible.
A few weeks ago, the company announced a direct-to-consumer campaign in order to increase awareness surrounding this product. CEO of the company, Saundra Pelletier, states that “in our extensive market research, we heard repeatedly from women that they are frustrated with the birth control methods previously available to them, which left them fed up with side effects and lack of control. With half of all pregnancies in the U.S. unplanned, there is a clear need for additional, innovative birth control methods.”
The campaign, titled “Get Phexxi,” will launch around the U.S. and stream on several large broadcasting networks. The company is ramping up for its presentation at the virtual H.C. Wainwright Global Life Sciences Conference held March 9-10, 2021.
Dynatronics Corp. is one of the penny stocks that are in focus at the end of February. Before we get into why let’s take a closer look at DYNT stock. Dynatronics is a medical device company working on a wide range of restorative products. This includes those for use in rehabilitation, pain management, training, and more.
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Because its products are so broad in how they can be used, the company supplies a large range of different customers. This includes clinics, hospitals, athletic trainers, and straight to consumers. In its pipeline are brands such as Bird & Cronin, Dynatron Solaris, Hausmann, and more. These brands are all categorized under the broader Dynatronics name. On February 24th, Dynatronics made a huge announcement, sparking an over 65% after-hours gain.
The announcement came as the company’s subsidiary, Bird & Cronin, renewed its purchase agreement with Intalere, a large purchasing organization for the healthcare industry. While the two have been working together for over 20 years, contract extensions are always good news. John Krier, CEO of Dynatronics, states that “the twenty-plus year relationship with Intalere has allowed Bird & Cronin to provide healthcare providers with Bird & Cronin’s high-quality products at the right cost. Our employees are excited to support Intalere’s mission and empower administrators, supply chain teams, and clinicians to focus on patients through the utilization of Bird & Cronin bracing and support products.”
Brookdale Senior Living Inc.
While you may not have heard of Brookdale Senior Living, the company has been pulling in solid gains in the past few months. As the name suggests, Brookdale is an operator of a large range of senior care communities around the U.S. At the end of 2020, Brookdale reportedly managed more than 726 communities across 43 states. This is quite a lot and encompasses around 64,000 residents all in all.
On February 24th, Brookdale announced its Q4 2021 and full year 2020 results. Before we dive into the numbers, it’s worth noting that 100% of its residents received their first doses of a Covid vaccine. Additionally, 85% received a second dose. With the addition of some government funding, the company stated that its liquidity shot up to roughly $575 million at the end of last year.
While it did lose around $44 million, this is significantly less than the $91 million loss it took in during the fourth quarter of 2019. With a company like Brookdale, we have to take into account the massive effects of the pandemic.
Brookdale President and CEO, Lucinda Baier, stated that “as an industry leader, we used our strong voice to advocate for senior living funding and then once again for top vaccine priority later in the year. Our efforts culminated in our vaccine clinics starting in mid-December and we are incredibly proud that 100% of our more than 700 communities across 43 states have already completed their first vaccine clinic and over 600 communities have completed their second dose vaccine clinics.”