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Top Penny Stocks to Buy? Check These 4 Out For Your May Watchlist

May
3, 2021

7 min read

This story originally appeared on PennyStocks

4 Penny Stocks to Watch in May 2021

With penny stocks, there are a few key things investors should keep in mind. There’s no such thing as a free lunch and an informed trader can be a successful one. The idea of turning a profit with penny stocks entices traders of all kinds. However, many people end up watching their portfolio turn red. This is the result of investing in cheap stocks without a proper strategy or a trading education. 

As a stock sees large upward momentum, investors will want a piece of the pie and therefore try to buy-in. Trust me, we all have a story of the one that got away. Once a penny stock has made substantial gains, it tends to pull back quickly which is known as a correction. This leaves the investors who bought because of FOMO (fear of missing out) losing substantial amounts of capital in a short period. To be successful one has to trade both technically and without emotion. 

Technical and fundamental analysis are distinct strategies in use by investors every day. These are tools used to make an informed decision on how to create a list of penny stocks to watch. Unlike technical analysis, which considers chart movements, fundamental analysis considers company-specific factors. 

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Performed together, these strategies can set one up to trade with the best chance of seeing profits. These are things we want to consider as we move into May and consequently, start forming a penny stock watchlist. 

As we look for penny stocks under $5 investors need to consider where the most value is and which companies make sense given your investing strategy. May has already started off strong, with high volume across the board; whether it be stimulus, reopening of businesses, or just overall confidence in economic recovery. With this in mind, let’s take a look at four penny stocks that are must-sees for your May watchlist.

4 Must Watch Penny Stocks For Your May Watchlist

Digital Ally Inc. (NASDAQ: DGLY)Ault Global Holdings Inc. (NYSE: DPW)SunLink Health Systems Inc. (NYSE: SSY)Nokia Oyj (NYSE: NOK)

Digital Ally Inc. (NASDAQ: DGLY)

As a developer, marketer, and manufacturer of the latest video recording products, Digital Ally is contracted by a large range of groups. This includes law enforcement, emergency response, fleet safety, and event security agencies among others.

As a tech penny stock, DGLY succeeds by advancing the quality of its technology. Digital Ally’s products are becoming the standard for security practices around the world. Its pipeline includes products such as vehicle and body cameras, software storage systems, automatic recording technology, and a variety of other tools used in safety operations. 

DGLY is showing its commitment to keeping up with modern challenges through its product development. One example of this is the recent launch of its Shield Health Protection Product line. This includes everything from personal protective equipment to large area disinfectant machines. Its EVO-HD line is also seeing heightened attention, working alongside law enforcement agencies to provide the best auto-activation camera systems in the business. 

“The EVO-HD comes standard with our patented auto-activation technology built into the unit, which simultaneously connects and activates a recording of the in-car cameras and body camera when triggered by multiple sensors. With this technology, we look to assist in the call for complete transparency between the public and police officers.”CEO of Digital Ally, Stan Ross

Ault Global Holdings Inc. (NYSE: DPW)

Another penny stock worth looking into is Ault Global Holdings. Pushing up by almost 20% in the last week, DPW is committed to the pursuit of further growth through an acquisition-driven business model.

By strategically investing, DPW acquires undervalued companies and select entrepreneurial businesses where it then provides financial support through credit lines. Having raised $165 million for its subsidiaries, Ault Global Holdings has optimistic outlooks for future growth. 

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CFO Kenneth S. Cragun states “The financial results for 2020 demonstrate that we are achieving our objectives to grow revenue and improve operating results. In spite of the disruption from the COVID-19 pandemic, we were able to increase fourth-quarter revenues by 14.8% from the prior-year period, driven by our defense business.”

Specializing in a diverse range of industries, DPW has its hand in many markets. This includes but is not limited to the defense, aerospace, medical, industrial, telecommunications, and automotive industries. With a strong portfolio moving into 2021 should DPW be considered for your May penny stock watchlist? 

SunLink Health Systems, Inc. (NYSE: SSY)

Another way to find penny stocks to buy is by looking at the biggest gainers of the year. This implies that even in the most difficult of times it could have solid momentum. SunLink Health Systems is an interesting example of a company that did just that. 

Increasing by more than 270% since May of last year, SSY has no plans to slow down anytime soon. SunLink Health Systems operates through a range of subsidiaries and specializes in health care operations as well as other similar businesses. Its strategic placement of hospitals has led to its success during the Covid pandemic in 2020 and so far in 2021.

It recently announced a planned $2 million expansion project with one of its subsidiaries, Trace Regional Hospital. The planned upgrade will include renovations as well as a 26-bed increase. SSY encourages growth even in uncertain times and could be worth considering for your penny stock watchlist.

“The expansion and upgrade of our Pathways Care Program will allow us to meet the growing demand for quality senior behavioral services as well as acute care hospital services in our northeast Mississippi service area.”COO of Trace, Marianne Johnson

Considering all of this and the growing need for healthcare-related services, is SSY stock worth watching?

Nokia Oyj (NYSE: NOK)

As one of the leading vendors in the telecommunications equipment industry, Nokia has seen tremendous growth this year. One thing to consider is that shares of Nokia have surged by over 20% since early April. In line with this, NOK is showing additional positive signs through better than expected EPS and sales numbers in its most recent filings. 

This success also hinges on its recent momentum as a 5G penny stock. Because of the emphasis on 5G networks, many companies are fighting for their share of this budding market. Currently trading under $5, NOK could have a lot of room for growth. As a company that does over 1.7 billion in sales alone according to its most recent quarterly report, Nokia continues to look like a top performer in the telecom and tech sectors.

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CEO of Nokia, Pekka Lundmark noted, “Driven by increasing demand for next-generation connectivity; good progress in Mobile Networks in securing full portfolio competitiveness; continued double-digit sales growth with our Enterprise customers; double-digit sales growth in North America; and good net sales development for Nokia Technologies.”

It’s strong growth in the past quarter indicates the momentum in the telecommunications sector overall. Considering this, is adding NOK stock to your penny stock watchlist right for you?

Are Penny Stocks Worth It?

Investing in undervalued companies is a great opportunity for traders to grow their watchlists and expand their penny stock portfolios. Penny stocks offer what many blue chips cannot, which is high volatility and often; unrecognized potential. Investors both experienced and inexperienced can recognize that taking advantage of fast movers can be beneficial. 

Undervalued penny stocks are often the method of choice for many of those looking to increase value through short-term trades. With these four penny stocks in mind, we see that there are plenty of options for all types of investors. 

Penny Stock Trading Strategies You Need to Know About

May
3, 2021

7 min read

This story originally appeared on PennyStocks

Do You Know These Strategies for Buying Penny Stocks?

Buying penny stocks is not easy. But, it can be if you have the right tools at your disposal. When starting to trade penny stocks, some investors quickly find themselves in the red. And without a commitment to education and dedication to learning, this will remain the case.

But, consider this. You wouldn’t perform an open heart surgery after reading a few articles on how to do it. While this may sound extreme, buying and selling penny stocks or any stocks for that matter is the same thing. 

So, when making a watchlist or even just glancing at some penny stocks to watch, it’s important to know what your strategy is. This goes beyond just researching how to trade penny stocks. Rather, there are some nuances that all investors should consider. 

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For one, penny stocks are highly volatile. Whether due to large speculation or simply the fact that they are stocks under $5, price fluctuations are very much commonplace. While this may seem scary at first, knowing how to capitalize on it is what makes certain traders profitable, and others not so much. 

In addition, traders need to understand their unique goals. Are you saving for a new house? Trying to make a living? Or are you working to bring in some extra income on the side? These questions can help to define whether short or long-term investments are better for you.

After taking an inward look, it could be time to start educating yourself on exactly how to trade. So, to help with this process, here are a few penny stock trading strategies that you need to know about. 

3 Penny Stock Trading Strategies to Utilize Daily 

Making a Penny Stock Watchlist Picking the Right Penny Stocks to Buy How to Take Profit With Penny Stocks 

Making a Penny Stock Watchlist 

Last week, we covered how to make a penny stock watchlist in an in-depth piece. However, to refresh those just now coming onto the scene, let’s give a brief overview. Building a proper watchlist involves three things. First, traders need to build an under $5 scanner. This can be done on a variety of platforms, but most tend to use ThinkorSwim. 

This is an all-in-one application made by TD Ameritrade. It allows for trading yes, but also the ability to build complex and concrete scanners. In the simplest of terms, traders should scan for stocks under $5 with a volume of over 1 million. This will give a list of a few hundred penny stocks. While the $5 part is self-explanatory, having a volume of over 1 million will help to ensure that there is enough liquidity to enter and exit a position. 

Those under the 500,000 range, for example, many not allow for swift buying and selling, therefore it could be more difficult to swing trade penny stocks. In addition, low volume will mean that a stock could jump and fall in price with little to no indicators. This could result in sizable losses incurred on a very quick timeframe. While making a scanner is a great idea, it is only one step in your trading journey. 

Picking the Right Penny Stocks to Buy 

Picking the right penny stocks to buy can be challenging. But, there are a few aspects that can make it easier. After compiling your list of penny stocks via a scanner, the next step is research. With the internet, anyone with a computer can find out everything there is to know about a given company.

First, what are the speculative factors impacting the company right now and in the near future? This could be a new product, an FDA approval, or the announcement of a quarterly earnings report. Now, there are more to consider, but these should help to indicate how speculation can impact a company’s share price. 

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The second aspect to consider is, what do a company’s fundamentals look like? While fundamentals can lead to speculation, the two are quite different from one another. Fundamentals are all of the baseline factors that impact a company. This includes revenue, EPS, profitability, fundraising, and anything similar to these.

Both speculation and fundamentals should be looked at with every penny stock you intend to buy. After doing so, you should be able to know exactly what a company looks like from an overall perspective. 

Lastly, is this stock right for you? Throughout this piece, we’ve covered how investing is an individual task. Because every stock is different, you need to make sure that a company aligns with your investing goals. For this reason, looking at how volatile it is (how often and how large prices fluctuate) can help to determine whether you should invest in the short or long term.

This can be calculated more thoroughly through a beta measurement. This is the overall measurement of a stock’s returns versus a control (usually the S&P 500). Over 1.00 usually means it is more volatile, while under 1.00 means the opposite. And, we also have to take into account the speculation that could impact the beta in the short term. With all of this in mind, picking the right penny stocks to watch can be simple. 

How to Take Profit With Penny Stocks 

Taking profit with penny stocks is a simple step, yet it is something that some investors forget to consider. Often, investors will enter into positions due to FOMO (fear of missing out). This usually occurs after a security has hit a major high, such as a 50% gain in a single gain for example. However, after large gains, a natural correction usually ensues, thus resulting in losses. 

So, in short, FOMO is a bad strategy, and something to stay away from. This mostly aligns with the psychological needs of making a profit with penny stocks. However, in fiscal terms, there are a few strategies to consider. 

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The most popular is usually a gradual profit-taking strategy. Let’s give an example. First, an investor would set a price target. Let’s say a stock is at $1 and an investor thinks it will go up to $4. $4 would therefore be the target price. On the way to the $4 mark, investors would take profit in increments. 

First, the stock could hit $3, and an investor would sell 25% of their position. Second, the stock could move to $3.50, where an investor would sell 50% of their position. And lastly, the stock could hit $4, where one would then sell the remaining 25%.

This is a common strategy used to ensure that every trade could be a winning trade. In addition, it also helps to ensure that losses could remain nominal. While there are other strategies to taking profit, this is usually a simple and straightforward way to feel confident in all of your trades. 

3 Penny Stocks to Watch

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) Galiano Gold Inc. (NYSEAMERICAN: GAU) Peabody Energy Corp. (NYSE: BTU)

Are Penny Stocks Right For You?

At the end of the day, investors need to pick the best stocks to buy for their portfolio. If you’re not comfortable with large ups and downs, penny stocks may not be right for you. However, if you are, there are plenty of opportunities to be had.

While this is not a complete list of how to buy and sell penny stocks, it should help to point you in the right direction. Considering this, are penny stocks right for you?

Hot Penny Stocks On Robinhood to Watch This Week

May
3, 2021

6 min read

This story originally appeared on PennyStocks

Are These Top Penny Stocks Worth Buying?

May is here, and thus, so is another month for penny stocks. Because speculation is standard with the territory, any factors including something as simple as the beginning of a new month can have a positive or negative effect on penny stocks.

Now, why are penny stocks so speculative? Well, the short answer is that due to their low price (any stocks under $5), values tend to shift very quickly. In addition, most investors tend to swing trade these stocks, which in turn, adds to their high volatility. 

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Lastly, most cheap stocks tend to move very quickly when news is announced. This includes everything from balance sheets to corporate filings and company updates. So, while none of this should serve to incite fear, it should help to mold your strategy into one that could be profitable. 

Being a profitable trader involves understanding different variables that can impact a stock’s price, as well as certain technical indicators that could point to price movements. The best way to understand this is to have a proper trading education, but experience is also key. 

Additionally, the influx of retail traders on platforms such as Robinhood or WeBull has helped to democratize trading more so than ever before. While this has resulted in more volatility in the stock market, it has also brought billions in capital that did not exist before.

Because there are thousands of stocks under $5 out there, making a penny stock watchlist can seem like a daunting task. But, with the right research at hand and the ability to find penny stocks on Robinhood or wherever you trade, it can be much easier than imagined.

3 Penny Stocks on Robinhood for May 2021

Safe Bulkers Inc. (NYSE: SB) Abeona Therapeutics Inc. (NASDAQ: ABEO) NexGen Energy Ltd. (NYSE: NXE) 

Safe Bulkers Inc. (NYSE: SB) 

Safe Bulkers Inc. is a penny stock that we’ve covered several times in the past few weeks alone. Again on May 3rd, shares of SB stock are up in the double-digit percentage points. While a lot of this is speculation surrounding its upcoming Q1 2021 results, released on May 5th, there are some additional factors at play. One of those happens to be the high expectations for the company’s Q1 data. 

Analysts have stated that the company could reverse its prior-year loss, where it could then pull in a $0.10 EPS on sales growth of roughly 27%. Additionally, this would indicate around $58 million in revenue.

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One of the data points backing these predictions is the Baltic Dry Exchange Index (BDI). This index tracks the rates that shipping companies like Safe Bulkers receive for transporting bulk dry goods. Early in this year, the BDI sat at around 1,400. However, last week it surpassed 3,000, which obviously, is more than double its January levels. 

Since the end of March, shares of SB have shot up by around 65%, and since January, by over 350%. While a gain like this is not out of the ordinary for penny stocks, triple-digit percentage gains are always worth noting. So, to consider SB stock a buy, investors should do their due diligence in addition to checking out its upcoming results. And with all this in mind, is SB worth adding to your watchlist?

Abeona Therapeutics Inc. (NASDAQ: ABEO) 

Moving away from shipping and into a biotech penny stock, ABEO is a clear watchlist candidate. For some context, Abeona is a clinical-stage biopharmaceutical company developing both gene and cell therapy candidates. In its pipeline are compounds such as EB-101, a Phase 3 candidate for recessive dystrophic epidermolysis bullosa, ABO-102/ABO-101, a novel gene therapy for Sanfilippo syndromes, and several others. Its focus is on treating serious illnesses with relatively unmet medical solutions. 

Back in March, Abeona reported its 2020 financial results and several corporate updates worth mentioning. This includes dosing the fourth patient in its pivotal Phase 3 VIITAL study of EB-101, following a successful Type B meeting with the FDA. In addition, we see that ABEO is well funded, ending the year with roughly $95 million in cash and cash equivalents. 

“In 2020, Abeona advanced our three clinical programs toward bringing urgently needed treatments to patients with recessive dystrophic epidermolysis bullosa (RDEB) and Sanfilippo syndrome type A and type B, despite the macro disruptions that impacted the world. We remain laser-focused on executing our strategy and achieving upcoming milestones. Our recent momentum is highlighted by a successful Type B meeting with the FDA where we aligned on co-primary endpoints for the pivotal Phase 3 VIITAL study of EB-101 in RDEB.” Michael Amoroso, CEO of Abeona Therapeutics Inc.

Because of its wide pipeline and breadth of late-stage pharmaceuticals, Abeona could be an interesting penny stock to watch. With this in mind, the choice is yours. 

NexGen Energy Ltd. (NYSE: NXE) 

NexGen Energy is as its name suggests, an energy penny stock. Based in Canada, it focuses on the acquisition and exploration of uranium projects domestically. NexGen has a longstanding track record of discovering large uranium deposits which can then be developed into sizable mining projects. This includes its large portfolio of assets in the Athabasca Basin, which is located in Saskatchewan, Canada. Within this is the Rook 1, which it owns a 100% interest in; which is also where the famed Arrow Deposit was back in early 2014. 

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In March of this year, NexGen announced the exercise of $22.5 million worth of over-allotment options. This coincides with its previously completed underwritten public offering of 33.4 million common shares. This option alone will bring its total financing for the year up to $172.8 million in proceeds. 

With any mining company, funding is always the primary concern of investors. Because capital is the main necessity to any business and especially those in mining, fundraising opportunities like these are always exciting. While there is the worry of share dilution, this would likely not be a concern until the future. 

One of the main reasons for the bullish interest in uranium is its potential as a renewable energy source. Because of the U.S. emphasis on becoming renewable, pushed by President Biden, investors are scrambling to find the next best renewable energy penny stock. While uranium still has a stigma around it, there is no doubting its efficiency and potential. Considering all of this, will NXE be on your penny stock watchlist?

Penny Stocks: Worth it or Not?

When it comes to penny stocks, the main thing to consider is whether or not a company fits into your portfolio. All investors have different goals. Whether it is short-term or long-term investing, finding the right penny stocks to buy is all about understanding your own unique investing style. Additionally, having a trading education can help to give you the best chance at making profitable investments. With these aspects in mind, are penny stocks worth it?