3 Penny Stocks For Your October 2021 Watchlist
With October only a few days away, there are hundreds of penny stocks that could deserve your attention. But, to understand which are worth buying, it goes a little deeper. The most important aspect to consider is what is currently going on in the market.
This means understanding what factors are at play, and how they may affect different penny stocks or industries. Right now, we are seeing some bullish sentiment fill the market. Early in the trading day on September 27th, the Dow Jones Industrial Average was up by around 63 points. In addition, bond yields were rising and oil prices hit the highest levels in over three years.
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So, following several months of bearish and tumultuous trading patterns, could we be nearing a bullish turnaround? Well, we have to consider that the pandemic is still around and affecting markets. However, with booster doses gaining approval and case numbers dropping substantially around the country, many investors have hope for the near future.
As always, make sure that you are researching each and every penny stock on your list. That is the best way to stay ahead in the stock market. Considering all of this, let’s take a look at three penny stocks to watch during the last week of the month.
3 Penny Stocks to Watch As September Ends
- Predictive Oncology Inc. (NASDAQ: POAI)
- Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
- ENGlobal Corp. (NASDAQ: ENG)
Predictive Oncology Inc. (NASDAQ: POAI)
Predictive Oncology Inc. is a healthcare company that makes environmentally friendly systems to collect and dispose of infectious fluids from surgical procedures. Its STREAMWAY system disposes of suction fluid offering uninterrupted performance to physicians. This system helps eliminate workers’ exposure to infectious fluids. Predictive Oncology also provides contract research organization and AI-driven predictive models of tumor drug response. In the past five days, shares of POAI stock have shot up by almost 30%. This brings its YTD gain to over 73% which is no small feat.
Last month, Predictive Oncology reported its financial results for the quarter ended June 30th, 2021. The company reported net proceeds of $19.4 million from a registered direct equity offering during this period. This number contributed to its impressive cash balance of $44.9 million. $44.9 million is especially impressive when considering that its cash balance was only $3.4 million in the same period last year. It’s worth noting that the company’s revenue nearly doubled year over year as well.
“As we look towards the latter half of the year, we are confident that we will retain this trajectory as we invest in our people and our product offerings, supporting pharmaceutical companies to deliver more targeted approaches to therapy, increasing our footprint in this space and bringing value to our shareholders.”
CEO of Predictive Oncology, J. Melville Engle
As mentioned above, shares of POAI have been seeing substantial bullish sentiment in the past few days. Last week, POAI stock’s price managed to climb from $0.97 per share to $1.23 per share as of September 27th. Noting this, will POAI stock make your penny stocks watchlist this week?
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
Seanergy Maritime Holdings Corp. is a penny stock that we’ve discussed numerous times in the past few weeks for a variety of reasons. For one, shares of SHIP stock have increased by over 40% in the past six months, 178% YTD, and over 200% in the past twelve months. For some context, this company ships dry bulk commodities by sea. Primarily, Seanergy transports both iron ore and coal on its vessels. Seanergy currently has an operating fleet of 17 Capesize vessels that have an aggregate cargo-carrying capacity of an estimated 3,011,045 deadweight tons.
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On September 8th, the company took delivery of its 17th Capesize vessel, the M/V Worldship. This is a 181,415 dwt Capesize bulk carrier that was built in 2012 in Japan. The M/V Worldship has already entered a time charter with an existing customer of the company at $31,750 per day for about 12 to 16 months from the delivery.
“I am pleased to announce the addition of the seventeenth Capesize vessel to our fleet and the concurrent commencement of her period employment. Including this delivery and the sale of the M/V Leadership, 94% percent of our fleet is employed under period time charters, 87% of which are index-linked T/Cs.”
Chairman and CEO of Seanergy, Stamatis Tsantanis
The purchase price of the vessel was funded with cash on hand, and the company is in talks with a leading bank to finance some of the acquisition at competitive terms. Considering this exciting update, will you add SHIP to your list of penny stocks to watch?
ENGlobal Corporation (NASDAQ: ENG)
ENGlobal Corporation is a company that offers engineering and automation services to those in the energy sector. Its EPCM division provides engineering services for the development, management, and execution of projects that need professional engineering. ENGlobal also offers feasibility studies, procurement, design, engineering, and cost estimating among many other services. Up by around 5% in premarket on September 27th, shares of ENG stock have shot up by over 8% in the past five days. For the year, shares of ENG are up by 185%, which is quite substantial.
Last month, the company released its financial results for the second quarter and a strategic update. ENGlobal experienced a decrease in six-month revenue year over year because of COVID-19 related delays. But now the company believes that it will produce improved results for the rest of the year “and beyond”. In addition, the company announced that it is enhancing its management and business development teams, redefining its market focus, rebranding the company, and more.
“While segments of the broader energy industry have begun recovering from the effects of the COVID-19 pandemic, ENGlobal’s business – which traditionally lags behind that of the broader energy market by as much as nine months – had not improved by the end of the second quarter.”
CEO of ENGlobal Corp., Mark A. Hess
Now, it will be interesting to see how ENG stock performs as the world recovers. With That in mind, will ENG make your penny stock watchlist?
Which Penny Stocks Are You Watching in October?
Finding the best penny stocks to buy next month can be a great way to stay ahead in the market. But, with so many to choose from, it can be difficult to land on just a handful. So, the best way to pick penny stocks for your list is to stay as up-to-date as possible with the news.
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This means that you can be informed as to how different industries may move and how specific penny stocks could perform. Considering this, which penny stocks are you watching in October?
