3 Hot Penny Stocks That Investors Are Watching Right Now
As we end another week of trading penny stocks, there is a lot that investors need to know. The stock market is ever-changing, and it can be tough to keep up with the constant flux. However, by understanding what is going on with penny stocks and the stock market as a whole, investors can make better-informed decisions.
Here are some of the things that investors need to know about stocks and the stock market this week. The first thing that investors need to know is that penny stocks are incredibly volatile. Despite the volatility in the stock market, penny stocks remain a sound investment for those looking for short term upticks.
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In addition investors should understand exactly what they’re looking for in an investment. For example, some penny stocks may be more volatile than others, and some may not offer the same upside potential. However, if an investor is looking for a higher return on their investment, they should be willing to take on more risk. So, with all of that in mind, let’s take a look at three penny stocks that climbed during trading today.
3 Penny Stocks to Add to Your Watchlist Right Now
- Gran Tierra Energy Inc. (NYSE: GTE)
- Iamgold Corp. (NYSE: IAG)
- Athersys Inc. (NASDAQ: ATHX)
Gran Tierra Energy Inc. (NYSE: GTE)
On Friday, May 6th, shares of GTE stock managed to shoot up by over 1.2% at EOD. This is a sizable gain for the company and reflects bullishness in the energy sector right now. In the past six months, shares of GTE stock have exploded by over 85%.
While it is tough to say why gains like this occur sometimes, GTE made an exciting announcement during trading a few days ago. In its Q1 financial report posted on Tuesday, the company announced net income of $14 million. In addition, it posted an average total production amount up 20% YoY. One of the largest numbers from this came as it posted $104 million in net cash from operating activities, which is a 148% gain YoY.
“The strong recovery for the energy industry and Gran Tierra, from the challenges of 2020, continued into the first quarter of 2022. Our top tier, low-decline, onshore, conventional asset base continues to prove its high quality, as shown by the Company’s production growth of 20% over the last year. At the same time, we have significantly strengthened our balance sheet and expect to completely pay off our entire credit facility before the end of the second quarter of 2022.”
The CEO of Gran Tierra, Gary Guidry
This is all very exciting news for the company and should be kept in mind by investors moving forward.
Iamgold Corp. (NYSE: IAG)
Another penny stock that saw decent gains today was IAG stock. Despite a five day drop of over 23%, shares of IAG have begin to see a small bullish improvement. As a mining stock, IAG is subject to the changing conditions of the mining industry. To understand whether or not Iamgold stock is worth it, we have to take a closer look at any recent announcements from the company. On May 3rd, it stated that at its annual meeting of shareholders, the company announced a 92% for vote on its executive compensation.
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Aside from this, not much was announced at the meeting. If you’re not familiar, Iamgold is a mining company that operates in various areas around the world. This includes North America, South America, and West Africa. As a mid-tier gold producer, IAG has benefitted from investors turning to gold stocks during the pandemic and recent geopolitical uncertainty. So, whether IAG belongs on your list of penny stocks to buy or not is up to you.
Athersys Inc. (NASDAQ: ATHX)
One of the larger gainers of the day is ATHX stock, which shot up by over 12%. And, in the past five days, shares of ATHX stock managed to shoot up by over 20%. Despite its YTD drop of 40% YTD, it’s clear that there is some bullish sentiment surrounding ATHX stock right now. The big news for ATHX right now comes as the company posted its Q1 2022 financial results.
“Receiving FDA approval to use the bioreactor manufactured product gives us confidence as we further scale our third-generation bioreactor manufacturing process to be able to produce product to meet potential commercial demand. I’m very proud of everyone involved in helping make this achievement a reality.”
The EVP and Chief Scientific Officer of Athersys
In the results, the company announced that revenue pushed up by over $2.9 million. At the end of the quarter, the company posted net cash used in operating activities of $20.2 million with $37.4 million in the bank. Considering that, will ATHX be on your penny stocks watchlist or not?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. Because penny stocks are so speculative, it’s also crucial to consider the news and what is going on in the stock market.
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This means identifying trends, looking at announcements specific to certain stocks and so on. In line with all of this, investors need to have a thorough understanding of their own trading strategy. Because penny stocks move so quickly, considering how to take advantage of these moves will give you the best chance of being a profitable small caps trader.
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