Are These Robinhood Penny Stocks on Your Watchlist Right Now?
The popularity of Robinhood as a brokerage for buying penny stocks has brought in billions of dollars in new capital in the past few years. This makes sense given the access that Robinhood offers and the fact that it effectively revolutionized trading penny stocks and blue chips. Before Robinhood existed, trading fees were high, the process of buying and selling stocks was difficult, and so on. But, then came Robinhood, resulting in a complete paradigm shift and the rebirth of the retail trader.
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So now, in 2021, there are millions of investors utilizing Robinhood to trade penny stocks. And, this has also resulted in higher than average volatility in the market. To stay ahead of the game, investors need to consistently update their strategies, and keep a strong eye on the news. This is the best way to have a chance at making money with penny stocks. So, with all of that in mind, let’s take a look at four penny stocks on Robinhood to watch this month.
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4 Robinhood Penny Stocks to Watch Right Now
- Senseonics Holdings Inc. (NYSE: SENS)
- Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
- Transocean Ltd. (NYSE: RIG)
- CASI Pharmaceuticals Inc. (NASDAQ: CASI)
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech company that is working on the development and commercialization of glucose monitoring systems for diabetes patients. Its main products are the Eversense and Eversense XL, which are both implantable CGM systems to measure glucose levels in individuals with diabetes. This system works via an under the skin sensor which removes the need for the common invasive methods that most use today. In the past month, shares of SENS stock have shot up by over 29% which is quite substantial. This brings its YTD gain to over 320% and its 12 month gain to over 780%.
On August 9th, the company reported its second-quarter results for 2021. Senseonics reported revenue of $3.3 million in the second quarter in addition to a $50 million at-the-market equity offering program during the quarter. While this revenue may not seem like much, it does show that the company is growing. And with biotech products, adoption is always the most difficult part.
“In the second quarter we made progress driving increased patient and provider awareness of Eversense through a targeted direct-to-consumer digital advertising campaign and presentations of the PROMISE Study, an evaluation of our 180-day sensor, at the ADA and ATTD conferences.”
President and CEO of Senseonics, Tim Goodnow
In the last month, SENS stock has increased a lot. Considering this info is SENS a contender for your penny stock watchlist?
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
Seanergy Maritime Holdings Corp. is a penny stock that has been climbing for several weeks at this point. And, whether this is a reflection of the positivity around shipping right now or Seanergy’s business remains to be seen. For some context, this company operates a fleet of 11 Capesize vessels headquartered in Athens, Greece. Primarily, Seanergy transports dry bulk commodities such as iron ore and coal. Its vessels can carry about 1,900,000 deadweight tons.
On August 11th, the company announced a share repurchase plan. The company may repurchase up to $17 million of its outstanding common shares. These shares represent 10% of the company’s market cap as of August 10th, 2021. This is a big deal, and shows that Seanergy is taking advantage of the recent bullish momentum it has seen. And as a result, it is working hard to add value to its shares.
“We believe that the share price and the market value of Seanergy are currently significantly undervalued both in terms of the underlying asset or equity value of the Company and also in terms of our solid ability to generate earnings in the current market environment. Considering this, we feel that a share buyback is the correct and well-timed capital allocation decision.”
Chairman and CEO of Seanergy, Stamatis Tsantanis
With this new info in mind, will SHIP stock make your watchlist in 2021?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is an oil and gas company that provides offshore contract drilling services for wells around the world. It contracts drilling rigs, work crews, and related items to drill oil and gas wells. As of February, it had a partial interest in or fully owned 37 mobile offshore drilling units. This includes 27 ultra-deepwater and 10 harsh environment floaters.
About a week ago, Transocean secured a $252 million contract for its new build ultra-deepwater drillship. The drillship, called the Deepwater Atlas includes a mobilization fee of $30 million. This contract also provides significant performance bonus opportunities based upon agreed operating metrics.
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CEO and President Jeremy Thigpen said, “We are extremely pleased to have secured the maiden contract for the Deepwater Atlas; the first of our two 8th generation ultra-deepwater drillships that will enter the market in 2022, both of which will be outfitted for 20,000 psi ultra-deepwater well operations.”
Contracts like these are important for investors to consider. They offer long-term cash flow, and a short-term bump in free cash as well. With this information in mind, will RIG be on your penny stocks watchlist in September?
CASI Pharmaceuticals Inc. (NASDAQ: CASI)
CASI Pharmaceuticals is as its name suggests, a biotech company that has been trending over the past few days. Since last month, shares of CASI stock have climbed by over 38%. This is substantial, especially considering the less than stellar price action that occurred earlier in the year with CASI stock.
To understand CASI Pharmaceuticals, we can take a look at its balance sheet that was announced in mid-August. In the report, the company stated that it had changed its revenue growth guidance for 2021 to exceed 80% over the previous year.
“We are pleased to report $7.1 million EVOMELA® revenues for the quarter. Based on the current trend, we are revising our guidance for full-year 2021 revenue growth to exceed 80% over 2020. We are proud of our commercial franchise execution for EVOMELA and have expanded to over 100 FTEs on the commercial and marketing teams.
In addition to the continued EVOMELA revenue growth, we achieved dosing of the first patient of CID-103 in our Phase 1 clinical trial for relapse or refectory multiple myeloma.”
Wei-Hu He Ph.D., the CEO of CASI
These are all big updates for the company, and show the potential that it could have in the short and long term. While it is subject to the ever-changing regulatory shifts in the Chinese biotech industry, it does have a wide reach globally. Considering this, is it worth adding to your list of penny stocks to watch?
Which Robinhood Penny Stocks Are You Watching?
Finding penny stocks on Robinhood can be challenging with so many available. However, if you know where to look and what to look for, it can be much easier than previously imagined.
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Considering that there are hundreds of penny stocks to choose from, every trader can pick the best stocks for their portfolios. With all of this in mind, which penny stocks on Robinhood are you watching?
