Some of the best penny stocks 2021 has offered were some of the most unassuming at the beginning of their epic runs. For instance, stocks like Vinco Ventures (NASDAQ:BBIG), Camber Energy (NYSE:CEI), and even AMC Entertainment (NYSE:AMC) all began trending quietly among small groups of traders.
That ground-swell would culminate into some of the biggest breakouts seen this year. While sheer retail trading action helped spark those moves, there are plenty of other things to consider in the stock market today.
One of these is looking at what analysts have to say. Though this shouldn’t be the only thing you look at as a trader when deciding whether to buy, sell, or hold, analyst sentiment can give you a quick glimpse into what “Wall Street” thinks about specific companies. Today we’ll look at 5 penny stocks some analysts have become bullish on, price targets, and some recent developments to keep in mind.
5 Penny Stocks To Buy [according to analysts]
- Check-Cap Ltd. (NASDAQ:CHEK)
- Calyxt Inc. (NASDAQ:CLXT)
- KULR Technology Group (NYSE:KULR)
- Clear Channel Outdoor (NYSE:CCO)
- Geron Corp. (NASDAQ:GERN)
Penny Stocks To Buy [According To HC Wainwright]: Check-Cap Ltd. (NASDAQ:CHEK)
Check-Cap is the first name on this list of penny stocks that analysts are bullish on. The company specializes in diagnostic device development for polyps screening. The company’s C-Scan is designed to detect these polyps before they develop into colorectal cancer.
Recent CHEK Stock News
This week the companies announced that the United States Patent and Trademark Office (USPTO) granted a patent covering C-Scan’s proprietary tracking technology. This announcement came a few weeks after the USPTO site showed the patent grant.
We reported on this last month as CHEK stock caught some momentum following this. In addition, if this is on your list of penny stocks right now, it may be good to know that Check-Cap is expanding its C-Scan production line to support a U.S. pivotal study expected to begin toward the end of next quarter.
What Do Analysts Think About CHEK Stock?
HC Wainwright recently reiterated its Buy rating on the penny stock. The firm also has a $3 target set right now. Based on current levels, that target is roughly 175% higher as of November 2.
Penny Stocks To Buy [According To Roght Capital]: Calyxt Inc. (NASDAQ:CLXT)
Another one of the penny stocks analysts seem bullish on right now is CALYXT Inc. The company specializes in plant-based biotechnology. More specifically, Calyxt’s PlantSpring technology platform develops new, plant-derived compounds for use in nutraceutical, cosmeceutical, pharmaceutical, advanced materials, and chemical industries.
Recent CLXT Stock News
In addition to recent analyst coverage, Calyxt has also named a new member to its Scientific Advisory Board, IBM’s Global Chief Artificial Intelligence Officer, Dr. Seth Dobrin. In addition, for those with CLXT stock on your list right now, the company set November 4 as the date it will report its next round of financial results for Q3 2021.
What Do Analysts Think About CLXT Stock?
Conveniently, a few days ahead of these upcoming results, Roth Capital started coverage on the company. The firm gave a Buy rating with a $10 price target. Based on current trading levels early in the week, that target sits 174% higher right now.
Penny Stocks to Buy [According To Alliance Global Partners]: KULR Technology Group (NYSE:KULR)
We’ve reported on KULR several times over the last few months as the penny stock has surged. From the start of October to this week, shares have climbed from below $2 to over $3. It is a broad platform tech company with exposure to everything from 5G to electric vehicles. It is the latter, which has helped bring some extra attention to the company. Tesla’s (NASDAQ:TSLA) epic move that took sector names higher hasn’t hurt sentiment either. The stronger EV focus began at the end of September when the company started offering its KULR-Tech Safe Case to a lithium-ion battery recycling company.
Recent KULR Stock News
This lithium/EV trend has remained the point of interest heading into November. This week the company announced that it joined Clarios in the U.S. Department of Energy’s lithium-ion battery lifecycle initiative to develop the manufacturing and reuse of lithium-ion batteries and their chemical elements in the United States. According to KULR, it will provide the safe transportation of lithium-ion batteries within the entire battery management lifecycle.
The company’s CEO also tweeted out late last month, “Appreciate @Vanguard_Group as the largest institutional investor in @KULRTech with 3% ownership.” With these latest developments, KULR stock has been in the spotlight for some traders.
What Do Analysts Think About KULR Stock?
This quarter, analysts at Alliance Global partners started coverage on KULR stock. The firm gave a Buy rating and a $3.50 price target. Based on current levels, that sits just 15% higher right now.
Penny Stocks To Buy [According To TD Securities]: Clear Channel Outdoor (NYSE:CCO)
Since the start of the year, Clear Channel Outdoor has managed to recover from its pandemic levels. While this week’s action is a bit mixed, year-to-date, CCO stock is up over 75% so far. Attention on communications stocks spiked on November 2 after companies like Sinclair Broadcasting (NASDAQ:SBGI) caught some momentum. Whether or not this acts as a bellwether for the broader sector is yet to be seen. However, Clear Channel saw a bit of trading momentum in line with SBGI’s quick jump on Tuesday.
Recent CCO Stock News
The outdoor advertising company recently struck a deal with Conservation International for its global OOH campaign, “Hear me while you can.” The objective is to bring awareness to preserving nature. Dr. M. Sanjayan, CEO of Conservation International, explained, “We are working across the global south – and now, here at COP26 in Glasgow – to drive investments to nature for the benefit of people and the climate.”
What Do Analysts Think About CCO Stock?
The outlook on CCO stock is a bit mixed among analysts. However, firms like TD Securities have placed a Buy rating on the penny stock. As far as price targets go, they range between $2.50 and $3.15 among firms that have issued them. On the high end ($3.15), the forecast sits roughly 5% higher than current trading levels.
Penny Stocks To Buy [According To Baird]: Geron Corp. (NASDAQ:GERN)
Geron Corp. specializes in treatments for hematologic malignancies. Right now, the company has two Phase 3 clinical trials to keep track of. These include its IMerge in lower-risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis.
Recent GERN Stock News
Other than recent analyst coverage, Geron has continued focusing on its pipeline treatments. Late last month, the company announced that its imetelstat platform was granted an Innovation Passport. According to Geron, this is the “first prescribed entry point to the Innovative Licensing and Access Pathway (ILAP) launched in the United Kingdom (UK) by the Medicines and Healthcare products Regulatory Agency (MHRA) in January 2021, post-Brexit.”
What Do Analysts Think About GERN Stock?
This week analysts at Baird initiated coverage on GERN stock. It was started at Outperform and given a $4 price target. This sits 146% higher than current trading levels so far this week.
Penny Stocks, Risk, and Reward
As discussed, analysts aren’t the “end-all” decision-making factor to buy, sell, or hold stocks. However, using some of their insight to add to your diligence doesn’t hurt. Ultimately, when deciding on penny stocks to buy, the more information you have, the better.