When you find the best penny stocks to buy, it can be extremely lucrative. Penny stocks are appealing because they can move large percentage points in a single trading session but on little price movement. Many times, we’ll see these stocks soar after industry catalysts or things like strong penny stock news. Here is a list of penny stocks to watch that are moving a lot before the open on August 27th:
Penny Stock #1: iBio Inc. (IBIO)
Biotechnology penny stock, iBio Inc. (IBIO Stock Report) uses its iBio Technology platform to take on the plant-made pharmaceutical industry. This biotech company is making a lot of noise early on August 27th gapping up over 30%. This move comes in the wake of iBio announcing an expanded business collaboration with CC-Pharming in China.
“The expanded scope of our partnership with CC-Pharming aims first to advance our plant-derived, bio-better rituximab toward commercialization in the near term, while we jointly explore opportunities to develop and commercialize additional high value products,” explains Robert Kay, iBio’s CEO, regarding its expanded partnership. After hitting early highs of $1.31, does the current market signal this as one of the penny stocks to buy or avoid on Tuesday?
Penny Stock #2: Nuvectra Corporation (NVTR)
Another biotech company, Nuvectra Corporation (NVTR Stock Report) is focused on improving the lives of people with chronic conditions. It is primarily known for its Algovita Spinal Cord Stimulation, which treats chronic pain in limbs. This healthcare penny stock is making a strong move as well.
The company recently announced that it is exploring ways to improve its shareholder value. This includes the possibility of a merger or sale of Nuvectra due to expected future growth. As a result of this news, the company’s stock price is up 26% further continuing its move up from August 26th.
Penny Stock #3: J.Jill Inc (JILL)
Women’s apparel company J.Jill Inc (JILL Stock Report) boasts 280 stores across the US. The penny stock has seen back to back days of insane growth primarily revolving around its Q2 earnings. JILL stock price has grown over 30% since yesterday’s lows of $1.79.
Linda Heasley, CEO and President of J.Jill, expanded on the company’s Q2 earnings stating, “In the second quarter, we took necessary steps to address the challenging start we had to this year. We completed an evaluation of our infrastructure to increase efficiencies and took actions to begin right-sizing our organization.”
Penny Stock #4: Ossen Innovation Co. Ltd. (OSN)
Ossen Innovation Co. Ltd. (OSN Stock Report) is a customized prestressed concrete steel materials manufacturer. It is one of the biggest movers in the market thus far. Its share price has increased by over 180% since its Monday low of $2.63. The move is accompanied by a surge of abnormal volume for the penny stock.
Ossen has also released its unaudited financial results. The results cover the last six months of operations. The company’s EPS increased by 20% along with a net income increase of 18.7%. Net income increasing is positive for the company because it still increased despite rare earth coated products decreasing.
Penny Stock #5: Navidea Biopharmaceuticals Inc. (NAVB)
Navidea Biopharmaceuticals Inc. (NAVB Stock Report) is a biotechnology company looking to improve diagnostic accuracy to improve patient care. In order to do this, it is developing immune-targeted products to identify undetected diseases.
The company is gapping up almost 10% thanks to Navidea announcing the receipt of the Notice of Award. The grant award is worth $225,000.
Michael Rosol, CMO for Navidea, expressed, “We are pleased that the NIH continues to recognize the potential of radiolabeled tilmanocept to assess atherosclerosis. This project fits in with our existing atherosclerosis pipeline and will enable us to test tilmanocept as a PET imaging agent and compare it to F18 FDG PET imaging, a widely studied method of looking at macrophages in plaques, but one which we believe has significant deficiencies in comparison to tilmanocept.”