3 High Volume Penny Stocks For Your Watchlist Right Now
Looking for penny stocks to buy with high volume is a great strategy to use to stay ahead in the market. But, there are a few other factors to consider when searching for penny stocks for your list. Before we get into it, let’s take a look at why volume matters. For starters, volume is a great indication of how popular a stock is. Often, when a penny stock or blue chip rises substantially in value, we will see a major spike in volume. This is also the case when news is announced or a speculative event occurs.
If you’re unfamiliar, volume is the amount of shares trading hands on a given day. Because of this, it can be easy to use this metric as a way to find popular or trending penny stocks. But remember that volume can also be high when traders are selling, indicating a bearish trend. So, with massive speculation across the stock market right now, volume is a great indicator to use when making a penny stocks watchlist.
For example, today on September 22nd, we are seeing very high volume at midday with a few penny stocks. This includes Onconova Therapeutics Inc. (NASDAQ: ONTX), which pushed up by over 28% by midday. In addition, its volume spiked to over 53 million by 12 PM EST. Another example is Aethlon Medical Inc. (NASDAQ: AEMD), which climbed by over 34% with volume at around 74 million by the same time. Both of these show how volume and momentum can be attributed to one another.
But in addition to this, investors should also consider the fundamentals, what speculative events are occurring, and any larger industry-wide trends that could affect it. As always, have a trading strategy by your side and use it to your advantage. But, if you consider all of this, it should be much easier to make money with penny stocks. With that in mind, here are three penny stocks with high volume to watch right now.
3 Penny Stocks to Watch With High Volume in September
- Castor Maritime Inc. (NASDAQ: CTRM)
- Meten Holding Group Ltd. (NASDAQ: METX)
- Senseonics Holdings Inc. (NYSE: SENS)
Castor Maritime Inc. (NASDAQ: CTRM)
Castor Maritime Inc. is a penny stock that is on the rise right now, pushing up by over 4% at midday. This brings its one-month gain to a very respectable 27% and over 60% for the past twelve months. If you’re not familiar with CTRM, it is a transporter of various dry bulk cargoes by sea. Its dry bulk cargo services include iron ore, coal, grains, steel products, cement, sugar, and scrap metal. Currently, it operates three Panamax vessels that can carry about 76,122 deadweight tons.
On September 13th, the company announced new charter agreements that caused its stock price to skyrocket. The company announced that its M/V Magic Nebula dry bulk carrier has been fixed on a time charter contract at a gross daily charter rate of $31,750. The M/V Magic Moon and M/V Magic Nova have also been fixed on new time charter contracts both being at more than $30,000.
Since this announcement was released, CTRM stock has gone up a lot in the market. It’s worth noting that the shipping industry has received a major boost in the past year. With construction and industrial projects resuming as Covid cases decline, the demand for dry bulk goods is also increasing. And in turn, CTRM has seen the rates for its vessels rise during that time. Considering all of this new information in mind, will you add CTRM stock to your watchlist in 2021?
Meten Holding Group Ltd. (NASDAQ: METX)
Meten Holding Group Ltd. is a penny stock we have discussed in depth several times over the past few months. You may remember the company as Meten EdtechX Education Group Ltd., however, it changed its name last month. This is another Chinese educational company that has been trending in the market recently. Meten offers English language training services, future skills training, and more for Chinese students and those in various professions. It offers both adult and junior ELT services under the Meten brand name, and junior ELT services under the ABC brand name.
On September 7th, the company closed a $60 million underwritten public offering. This public offering of ordinary shares and pre-funded warrants to purchase ordinary shares included 22,500,000 of its ordinary shares at $0.30 per share. Additionally, there were 177,500,000 in pre-funded warrants in this public offering. Aegis Capital Corp. served as the sole book-running manager for the offering.
Since this announcement was made, Meten has not had a ton of momentum in the market. However, it’s worth noting that the company has experienced spikes on several days throughout the last few weeks. In the last few trading days, METX’s volume is much higher than its average. Keeping all of this new info in mind, will METX make your penny stock watchlist?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is another penny stock that we have been talking about frequently due to its trending status and momentum in the past few months. In the past YTD, shares of SENS stock have shot up by a staggering 282% and in the past twelve months by an even greater 836%. While gains like this are not unheard of with penny stocks, they are important to keep track of for investors.
For some context, this company develops and commercializes continuous glucose monitoring systems for diabetes patients. Senseonics offers the Eversense and Eversense XL products in its lineup. These are implantable CGM systems for measuring glucose levels with an under-skin sensor, and a removable and rechargeable smart transmitter. Sensonics also offers an app for real-time diabetes metrics monitoring.
On September 13th, the company announced a collaboration with the University Hospitals Accountable Care Organization (UHACO). This organization was created to improve the health and wellness of employees and dependents enrolled in a UH employee medical plan. UHACO has now started offering Eversense CGM systems to its medicare enrollees starting early month.
“We are excited to offer Eversense to our ACO patients with diabetes. Supplying tools for effective glucose management allows us to meet the Standards of Care for patients using insulin as outlined by the American Diabetes Association.”The Head of Endrocrinology and Diabetes at UHACO, Betul Hatipoglu
It’s worth noting that SENS stock can be quite volatile as seen by its major gains in the period mentioned above. However, the momentum that SENS has carried over the past year is exciting, to say the least. Noting this new info, will SENS make it on your list of penny stocks to watch right now?
Are Penny Stocks Worth Buying in September 2021?
While finding penny stocks to buy with high volume can be a great strategy, it’s important to consider your own investing goals. This means understanding what your tolerance to risk is and how to use that as an advantage.
[Read More] Hot Penny Stocks on Reddit to Watch Right Now
Considering that there is so much momentum in the stock market right now, there is plenty of movement to use in tandem with your trading strategy. So, with all of that in mind, do you think that penny stocks are worth buying in September 2021?