Why These 3 Penny Stocks Made Big Moves on Thursday
Finding penny stocks to watch in 2021 can be challenging. But, there are a lot of ways to help make the process of buying and selling penny stocks easier. For starters, investors need to understand what type of trader they are.
Are you looking for short-term holdings? Or are you more in it for the long game? These questions alone can help to make your list of penny stocks more in line with what your investing goals are. Next, investors need to understand the current trends that are in play in the market.
Right now, this includes cryptocurrency and its effects on penny stocks, Reddit penny stocks, the ongoing pandemic, and long-term fears of U.S. economic inflation. While this is not a definitive list by any means, it should help to give an idea of what is going on right now.[Read More] Penny Stocks to Buy? 3 That WallStreetBets Won’t Stop Talking About
Additionally, it’s worth noting that there is a great deal of volatility amongst all stocks right now. If you’ve been trading penny stocks in the past month or so, you likely have come across this. And while this may inspire fear for some, others see it as a large opportunity.
So as investors, we have to understand that everything that occurs in the market can be used as a way to make a profit. But, this takes a proper trading education and a commitment to understanding what makes penny stocks move.
So, with that in mind, finding the biggest gainers of the day can be a great tool in your belt. But, it should not be a standalone strategy. Considering this, here are three penny stocks to watch that you might’ve missed yesterday.
3 Hot Penny Stocks to Watch Right Now
- Euro Tech Holdings Company Ltd. (NASDAQ: CLWT)
- Progenity Inc. (NASDAQ: PROG)
- Oxbridge Re Holdings Ltd. (NASDAQ: OXBR)
Euro Tech Holdings Company Limited (NASDAQ: CLWT)
Euro Tech Holdings Company Limited is an industrial penny stock that offers water treatment equipment, lab instruments, analyzers, test kits, and more. Its equipment is provided to commercial and government customers in China. On May 13th, the company reported its 2020 year-end results.[Read More] 3 Penny Stocks To Buy According To Analysts; 100%-290% Price Targets
In these year-end results, the company announced its net income of $769,000 vs. $146,000 in net losses the year prior. This was due to an increase in profit contribution from the affiliate of $298,000 and non-recurrent net gain on disposal of property of $1,429,000.
Its revenue for fiscal 2020 was $13,357,000 which was a 23.2% decrease compared to fiscal 2019. Since these results were released one week ago, CLWT stock price has gone up from about $3.37 on average to $4.25 a share as of May 20th. The company’s stock price increased by more than 17% on May 20th. With all of this recent information in mind, will you add CLWT to your list of penny stocks to watch?
Progenity Inc. (NASDAQ: PROG)
A biotech penny stock to watch that is moving upwards is Progenity Inc. Progenity is a company developing, providing, and commercializing molecular testing products. It offers Innatal which is a noninvasive prenatal screening test given to women in early pregnancy. It also offers a variety of other tests.
Progenity garnered more attention recently when it started providing COVID-19 PCR testing services. The pandemic has been in focus over the past year and a half, so COVID testing and treatments have been at the forefront of the biotech sector.[Read More] How to Buy Penny Stocks In 2021
On May 13th the company provided a corporate update and reported its first-quarter 2021 financial results. Its revenue increased by 72% to $24.5 million in this quarter. The company also reported promising data from many of its testings and trials.
“We continue to make strong progress in our innovation pipeline as we establish a strong foundation and stabilize our core molecular testing business. We anticipate these efforts will translate into improved operating performance and revenue growth for the rest of 2021.
We are on track to meet our Preecludia™ test’s validation milestone by mid-year and continue to target commercial launch in the second half of 2021 for the $2-3 billion US market, the Innatal 4 platform is advancing, and we are especially excited by the accelerating progress of our GI Precision Medicine programs.”The CEO and Co-Founder of Progenity Harry Stylli
With these positive results causing a large uptick in PROG stock price, has it caught your eye? On May 20th alone, this penny stock went up by more than 18%. It will be interesting to see its progress in the future. Will PROG make your penny stocks watchlist?
Oxbridge Re Holdings Limited (NASDAQ: OXBR)
Oxbridge Re Holdings Limited is a finance penny stock that provides specialty property and casualty reinsurance solutions. The company underwrites reinsurance contracts for property and casualty insurance countries. It operates in the Gulf Coast area of the United States. Its products are distributed through reinsurance brokers.
On May 14th, the company reported improved results for the first quarter of 2021. This included a net income of $28,000 compared to a net loss of $364,000 the previous year. It experienced no losses at all during the first quarter. This all took place because of a positive change in fair value of its equity securities.
“We fared well despite 2020 setting a record for being the most active hurricane season. In addition, our sidecar investors SPV investors are on track to receive a double-digit return for the contract year ending May 31, 2021, following an attractive 36% return in the prior year.”The President and CEO of Oxbridge, Jay Madhu
In the last 5 days, OXBR stock price has increased by more than 31% in the market. This has made this financial penny stock a favorable option for some investors. Currently, OXBR’s volume is more than 9 times its average market volume. On May 20th, this stock increased by more than 24%. So will OXBR be making your list of penny stocks to watch this week?
Which Penny Stocks Are You Watching?
Making a list of penny stocks to buy is all about finding companies with potential value. Whether this is a short-term proposition or a long-term trade, understanding how to seek opportunities in the market will always be your best friend.[Read More] 4 Crypto Penny Stocks to Watch With Bitcoin Below $40k
So, while buying and selling penny stocks may not be for everyone, there’s no doubting the opportunity that exists. And, because trading is in a volatile spot right now, there are a lot of buying opportunities to take advantage of. Considering this, which penny stocks are you watching?