What are the best penny stocks to buy on Robinhood or Webull right now? Depending on who you ask, the criteria might be very different. But the rise of cheap penny stocks like Camber Energy (NYSE:CEI) and Aehr Test Systems (NASDAQ:AEHR) have certainly shed a lot of bright light on this asset class in 2021.
Whether it’s been short squeeze stocks, meme stocks, low float penny stocks, or somewhat of a mix, the trends have suggested 1 thing. Traders are looking for ways to take full advantage of volatility in the stock market today.
The tough part might come if you’re one of the millions using these apps like Robinhood or Webull. How can you possibly find cheap stocks to buy if you can’t trade OTC penny stocks?
I’m here to tell you that just because you’re limited to NYSE and Nasdaq stocks, there are still plenty of companies with shares trading below the $5 threshold. In fact, today, we’re looking at 4 that are trading where CEI stock was at just a few weeks ago, below $1.
Penny Stocks To Buy For Under $1 On Robinhood & Webull
- United States Antimony Corp. (NYSE:UAMY)
- Gran Tierra Energy Inc. (NYSE:GTE)
- Borr Drilling (NYSE:BORR)
- Cyren Ltd. (NASDAQ:CYRN)
1. United States Antimony Corp. (NYSE:UAMY)
One of the more prominent trends you’ll see on this list of penny stocks deals with raw materials stocks. US Antimony focuses on mining precious metals as well as antimony. This is a raw material with various uses. One of these is in batteries. Based on this, UAMY has gotten folded into the discussions on EV penny stocks.
With no leading source of antimony in the United States, this presents an interesting opportunity for companies like US Antimony. China, Russia, and Tajikistan, more or less, have control over the world’s antimony, supplying some 90% of the global production. That’s why the company has been pushing for new agreements with companies like Perpetua Resources and actively pursuing additional JV partners to expand its footprint.
With Perpetua, US Antimony announced earlier this year that they would study the feasibility of processing Perpetua Resources antimony concentrates at facilities owned by US Antimony. Responding to the move, Laurel Sayer, CEO of Perpetua Resources commented, “America has the brainpower, spirit of innovation, and work ethic to continue to solve some of the world’s toughest problems. However, we lack the minerals and materials we need to bring those solutions to life. Perpetua Resources can play a key role in re-establishing domestic antimony production and protecting America’s energy, technology, and defense future.”
With Antimony prices at some of their highest levels in nearly a decade, UAMY could be one of the penny stocks under $1 to watch right now.
2. Gran Tierra Energy Inc. (NYSE:GTE)
With reopening efforts continuing, raw materials aren’t the only thing gaining attention. Energy stocks have enjoyed a brighter spotlight as well. Gran Tierra Energy focuses on oil and gas exploration and production. Right now it’s developing a portfolio of assets in Columbia and Ecuador.
Though alternative energy and carbon neutrality are a big focus, building the infrastructure to accommodate this initiative required current energy resources. The most immediate of these comes from traditional energy commodities. Heading into the final quarter of the year, Gran Tierra has strong tailwinds giving a boost from its latest round of operational highlights. These included a 14% increase in average total production for the second quarter on a year-over-year basis. The company also reaffirmed its full-year production guidance of 27.5k to 28.5k barrels of oil per day with a capital program range of $130 million to $150 million.
The company has also put backstops in place to hedge against oil price fluctuations and protect its cash flows during the second half of the year. These include weighted average floor and ceiling prices of $57.03/bbl and $65.29/bbl respectively. In consideration of higher energy demand at least in the short-term thanks to supply chain bottlenecks, GTE stock and others could be on the watch list.
3. Borr Drilling (NYSE:BORR)
Another one of the energy penny stocks to watch this week was Borr Drilling. Similar to GTE, BORR stock has experienced a rebound thanks to bullishness in energy. In Borr’s case, the company provides drilling services to the oil and gas exploration and production industry. It owns and operates jack-up rigs to service its projects.
Borr has also experienced growth this year. If you look at its second-quarter results, the company was able to increase its revenues by 13% over the first quarter along with its adjusted EBITDA. The company has also picked up its dealmaking activity pushing forward with a sale of one of its JV’s and entering into multiple LOA/LOIs for two rigs in West Africa. As of the end of August, Borr has been awarded 28 new contracts, extensions, exercised options, and LOA/LOIs. This represents over 6,300 days of potential backlog and $542 million in revenues excluding unexercised optional periods according to the company.
Adding to this, Borr also secured a Letter of Award for “Mist,” a premium jack-up rig. The project is anticipated to begin in November with a planned duration of 7 months. This rig increases the company’s contracted fleet to 15.
4. Cyren Ltd. (NASDAQ:CYRN)
Going completely off-script, Cyren is another one of the penny stocks under $1 listed on a major exchange right now. Unlike the previous companies mentioned, Cyren specializes in digital threat intelligence solutions. In particular, according to Cyren, more than 1.3 billion users globally rely on its cloud security offerings for protection against cyber attacks.
Though it isn’t an energy penny stock, the company could join this list of reopening stocks. That’s thanks to the huge initiative that was placed on remote working over the last 18 months. If you’ve read our commentary on Cyren and other cyber security stocks, you may remember a study we’ve discussed this month. HP pointed out the situation that IT teams face when trying to improve cybersecurity for the world’s remote workforce. The study found that IT workers feel that there is no choice but to compromise cybersecurity to appease workers complaining about slower business processes. In essence, these cybersecurity methods are believed to “get in the way” of deadlines and time-sensitive projects.
The reports showed that more than 75% of IT teams said cybersecurity took a “backseat to business continuity during the pandemic,” and 91% reported feeling pressured into compromising security for business practices. To this end, Cyren has also teamed with the likes of companies including TD SYNNEX, Towpath Credit Union, and IT firm, Improving, to enhance next-generation anti-phishing solutions.
Are You Looking At Cheap Penny Stocks Right Now?
Whether you’re looking for penny stocks near $5 or stocks under $1, volatility plays a role. The cheaper the stock, the less it needs to move to record significant gains (or losses). With that in mind, have a clear understanding of exactly how to trade these low-priced assets with a clear plan on how to make money with penny stocks.