Are These Penny Stocks on Your Morning Watchlist?
With a new month of trading penny stocks only days away, many investors are looking for the best small-caps to buy. To understand which penny stocks could be worth buying right now, traders need to have a thorough outline of what is going on in the market. Right now, there is a great deal of bullish sentiment with energy penny stocks.
But, this is of course due to the overarching theme of the pandemic. With case numbers beginning to drop, many people are returning to work, school, and business/pleasure travel. This means that the demand for energy has increased dramatically. While there are other industries with valuable penny stocks to buy right now, energy is in focus. Aside from this, we do have to look at the pandemic wholly.
Over the last year and a half, traders have been cautiously optimistic about the future. And, as a result, many investors have spent time looking into less volatile stocks. At the end of the day, understanding your tolerance for risk will help to align your portfolio with your investing goals. So, with all of this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks For Your Morning Watchlist Right Now
- Kosmos Energy Ltd. (NYSE: KOS)
- Crescent Point Energy Corp. (NYSE: CPG)
- Meta Materials Inc. (NASDAQ: MMAT)
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an energy penny stock that has climbed by almost 30% in the past five days. This brings its twelve-month gain to over 180% which is quite substantial. If you’re not familiar, Kosmos is an oil and gas company that we have been discussing for several months now. The company has offshore assets in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico. Its area of focus is deepwater independent oil and gas exploration, as well as the production of fossil fuel resources.
Back in August, the company reported its second-quarter results for 2021. The company’s net production totaled 51,600 barrels of oil equivalent per day, with sales of 66,200 boepd. This resulted in a slight net over lift position for Kosmos. The company’s revenue for this quarter was $384 million in total. It also completed a successful reserve-based lending amendment and extension.
“With strong cash generation, the successful RBL extension, and the recently completed GTA FPSO transaction, Kosmos’ financial position has materially improved and we remain well-positioned to execute our remaining financing plans later this year.”CEO and Chairman of Kosmos Energy, Andrew G. Inglis
Over the last month, KOS stock has seen a steep upwards trajectory, especially in the last 5 days. Noting this information, is KOS a contender for your list of penny stocks to watch?
Crescent Point Energy Corp. (NYSE: CPG)
Crescent Point Energy Corp. is another big recent penny stock gainer, pulling in roughly 21% in gains in the past five days. This company explores, develops, and produces crude oil and natural gas. Its various oil and natural gas properties are all located in Canada and the United States. The company states that it produces both light and medium crude oil as well as natural gas resources. As a pure-play energy stock, CPG has seen a great amount of momentum with the recent bullishness of the energy industry.
A few months ago, the company announced its results for the second quarter of 2021 and revised its production guidance. In the results, the company stated that it reduced its net debt by an astounding $360 million during the quarter due to the Kaybob Duvernay acquisition. The company’s adjusted funds flow totaled $387.8 million during the second quarter of 2021. In addition, its net income was $2.1 billion during the quarter in total.
“Our second-quarter results demonstrate our continued focus on maximizing excess cash flow generation through our strong capital discipline and successful operational execution.”President and CEO of Crescent Point Energy Corp., Craig Bryksa
In the last YTD period, shares of CPG have climbed by over 96%, which is no small feat. And, in the past twelve months, shares have risen by a very respectable 260% or so. Considering all of this, will CPG stock make your penny stocks watchlist in 2021?
Meta Materials Inc. (NASDAQ: MMAT)
While Meta Materials is technically no longer a penny stock at over $6, it was only a few days ago. But, with its 22% gain in the past five days, MMAT stock quickly jumped out of penny stock territory. If you’re not familiar, Meta Materials is a company that makes various functional materials and nanocomposites in Canada. Its NANOWEB product is a transparent conductive film that has been called revolutionary. In addition to this, it offers the metaAIR which is an eyewear-based product used for laser glare protection.
On September 22nd, Meta Materials announced a global innovation research program called “Ideas for Innovation”. The program’s main intent is to accelerate the company’s meta-material breakthroughs. Via a competitive process, Meta is giving the best submissions to the program grants of up to $150,000 per innovation. The submission period is from October 1st to December 15th of 2021. The awards for the program will be announced in late January.
“In the last 20 years there have been incredible new discoveries in the field of metamaterials which is now reaching an inflection point. Through META’s i4i partnership program, we are providing researchers access to our platform technology and our scientists, to accelerate ideas which would traditionally take 10-15 years to move from scientific breakthrough to commercialization.”President and CEO of Meta Materials, George Palikaras
Since this announcement was made, MMAT stock has gone from about $4.89 per share to $6.08 per share as of September 27th. This means that MMAT stock has exited penny stock status as mentioned above. Its volume is nearly double its average in the market as well. Keeping this in mind, will MMAT be on your penny stock watchlist?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. But, with a thorough understanding of the current state of the market, investors can have an easier time picking penny stocks for their list.
Considering that there is so much momentum right now, there is also a lot to take advantage of. This could make it easier to make money with penny stocks, if you have a proper trading strategy. So, with all of this in mind, which penny stocks are you watching right now?