Are These 4 High Volume Penny Stocks on Your Watchlist?
Finding penny stocks with high volume is a great way to stay ahead in the market. While high-volume penny stocks are by no means the only ones worth watching, they can present interesting opportunities to investors. One of the benefits of higher than average volume is liquidity. If you’re unfamiliar, liquidity is the ease at which someone is able to buy and sell a stock.
For example, if a stock is trading at over 1 million in volume per day, buy and sell orders will likely go through almost immediately. However, if a stock is trading under a few hundred thousand shares in volume, it may take more time. While there is more nuance to this, it is relatively simple.
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In addition to liquidity, volume is a great indicator of how popular a penny stock is. If volume is high, it likely means that a stock is trending, or at the least, more people are trading it. And on the flip side, if volume is low, it could mean that investors are pointing their attention elsewhere. So, with all of this in mind, let’s take a look at four hot penny stocks to watch with high volume right now.
4 High Volume Penny Stocks to Watch in August
- Enzolytics Inc. (OTC: ENZC)
- BSQUARE Corp. (NASDAQ: BSQR)
- Iterum Therapeutics plc (NASDAQ: ITRM)
- NovaBay Pharmaceuticals Inc. (NYSE: NBY)
Enzolytics Inc. (OTC: ENZC)
An interesting biotech penny stock that is trending at the moment is Enzolytics Inc. It’s worth noting that we’ve covered ENZC quite a few times over the past couple of months due to its constant momentum and frequent updates. For some context, Enzolytics is a company that commercializes proprietary proteins to treat diseases.
Its primary focus is creating products to fight against HIV/AIDS. Enzolytics has already clinically tested several anti-HIV products in the past and continues to show promise in treating this deadly disease. Moving forward, let’s take a look at why this biotech penny stock is performing well right now.
On July 29th, Enzolytics reported its progress towards the completion of clinical trials for its ITV-1 therapeutic. It also provided an update on securing use authorization for the anti-HIV drug under the European Medicines Agency (EMA). With any biotech company, government approval is one of the most important steps to success.
“We are excited about the progress we have made with the assistance of our IMBL partners. Contracting with Danhson, Clinic Design and PharmaLex is integral to the success of the EMA permitting process. As this is the second time our ITV-1 therapeutic has progressed through clinical trials and the first trials were successful, we are fully confident that we will succeed in the permitting process.”
The CSO of Enzolytics, Harry Zhabilov
Considering this information, will you add ENZC stock to your watchlist?
BSQUARE Corporation (NASDAQ: BSQR)
BSQUARE Corporation is a penny stock that operates in the technology sector. The company creates a wide range of technologies for use in manufacturing. In addition to its manufacturing-aimed technology, BSQUARE also creates cloud-enabled software. And if all that isn’t enough, BSQUARE engages in the sale of Windows IoT products such as Windows Server IoT software. Its products are sold to equipment manufacturers and silicon vendors, among other companies.
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Back in April, BSQUARE signed an agreement with B. Riley Securities Inc. to sell shares for an offering price of up to $25 million. Only a few months after, BSQUARE raised this private offer to $50 million from the original $25 million.
On Thursday, August 12th, BSQUARE intends on sharing its financial results for the second quarter of 2021. This will take place after the stock market closes, and a conference call will follow shortly after on the same day. With this to look forward to, is BSQR a contender for your penny stocks watchlist?
Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a biotech penny stock that develops anti-infectives in the United States and Ireland. The company’s flagship product, sulopenem is in Phase III clinical trials to treat urinary tract infections. Most of Iterum’s anti-infectives are for multi-drug resistant pathogens.
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On July 26th, Iterum received a complete response letter from the U.S. Food and Drug Administration (FDA) for its oral sulopenem product. In this response letter, the FDA denied oral sulopenem’s application.
“We are disappointed in this outcome and believe that the data package submitted was adequate for the approval of oral sulopenem. Regardless, we will evaluate the points raised in the CRL for discussion with the FDA to determine an expeditious path forward.”
The CEO of Iterum, Corey Fishman
On the surface, this seems like bad news, but letters like these are common when trying to gain approval for a product. And it’s worth noting that ITRM stock is quickly recovering only a week or so after this was announced. Moving forward, the company is planning to review its complete response letter and request a Type A meeting with the FDA. With this in mind, is ITRM stock making your watchlist this week?
NovaBay Pharmaceuticals Inc. (NYSE: NBY)
NovaBay Pharmaceuticals Inc. is a biotech penny stock we have discussed frequently in the past few months. This company creates medical devices tailored to the eye care market. Its Avenova product allows people to cleanse and remove microorganisms from around the eye. In addition, it offers products such as CelleRx Clinical Reset, NeutroPhase, and many more.
In July, NovaBay Pharmaceuticals partnered with Harrow Health’s ImprimisRx, which is one of the ‘nation’s leading ophthalmology-focused pharmaceutical businesses’. The partnership will have Harrow Health Inc. (NASDAQ: HROW) promote NovaBay’s Avenova product. Harrow will provide NovaBay with marketing, sales, and distribution support.
“ImprimisRx, through its highly innovative model, has streamlined the ordering and delivering of products by eliminating many layers in the traditional pharmaceutical value chain.
Under the new agreement with ImprimisRx, we can now cost-efficiently expand Avenova’s reach within the prescription channel by better engaging with ophthalmologists and optometrists, making prescription Avenova even more accessible than ever before.”
The CEO and President of NovaBay, Justin Hall
Noting this recent advancement, will NBY stock be on your watchlist this month?
High Volume Penny Stocks: Worth it or Not?
With so many penny stocks to choose from in the market, it can be difficult to land on just a few for your watchlist. However, the breadth of options means that there is plenty of opportunity to find valuable penny stocks to buy.
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And in 2021, volume continues to be quite high across the board. With all of this in mind, are these penny stocks worth it or not?
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