Cheap Penny Stocks To Watch This Week
Love them or hate them; penny stocks aren’t going anywhere anytime soon. These high-risk assets have become the belle of the ball for active traders looking to capitalize on volatility. They can implode just as quickly as they rise.
It’s the timeframe in between that is where money is made. Obviously, they aren’t for the timid, and proper stock market education is vital if you want to profit consistently. But assuming you know what you’re doing, you may be looking for some cheap stocks to add to your watch list this week.
This article looks at some of the lowest-priced penny stocks today. These are the ones trading for pennies, literally. One of the more prominent trends in the market right now involves stocks under $1. When you talk about high stakes, some would argue it doesn’t get any higher than this grouping of companies. Remember that just because they can be bought for less than $1 doesn’t mean it’s a reason to treat them like a gamble.
There are plenty of ways to make money trading, and your strategy matters. For this reason, we look at a handful of cheap stocks making moves this week, see what recent events might be catalysts, and see if there’s anything on the horizon that could be of interest. Then you can decide whether they deserve a spot on your watch list. This is also a continuation of the list of penny stocks in our article 7 Hot Penny Stocks Under $1 To Watch This Week. We’ll provide the complete list at the end of this update.
Penny Stocks Under $1 To Watch
Kalera Public Ltd. (NASDAQ: KAL)
The cheapest penny stock on this list is Kalera Public. It has been one of the stocks under ten cents to watch since November. The volatility comes after KAL stock slumped to 52-week lows of just under 7 cents last month.
Kalera, a vertical farming company, was listed on the Nasdaq in June. Less favorable financial results and additional financing at deep discounts contributed to its slump. However, now that it’s trading at significantly lower levels, the market seems to found a bit more flavor, as you’ll see from trading volumes this quarter. Something that is gaining attention is Kalera’s restructuring efforts for its German subsidiary, Kalera GmbH, known as &ever.
CEO Jim Leighton explained in a November update, “The divestiture of our international business is one of the key steps in this process, and we are confident that we will make progress on this and other key cash flow initiatives by year-end. The opportunities for Kalera in U.S. vertical farming are vast, and we remain focused on long-term profitable growth.”
Kalera has an upcoming shareholder meeting this week seeking approval for a reverse stock split. It would affect a consolidation of shares and ultimately reflect a higher share price if approved. Reverse split stocks have become a popular point of interest for retail traders in short spurts. Whether or not approval is gained and whether or not it is received favorably is yet to be seen.
Venator Materials (NYSE: VNTR)
Shares of Venator Materials have bounced over the last 24 hours. This week saw VNTR reach fresh 52-week lows of $0.407. But an uptick in green energy stocks may have acted as somewhat of a sympathy catalyst for Wednesday’s rebound.
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Venator specializes in chemical products used in pigments and additives for protecting product life and even reducing energy consumption. The “green energy” tie-in comes from Venator’s recent update. It announced that it is working with Atos to measure the carbon footprint of its products. In particular, Venator is focusing more on sustainability with this project, allowing it to deliver data to help accelerate this goal.
In the update, Rob Portsmouth, Senior Vice President, Sustainability at Venator, said, “We’re acutely aware that what we do today will impact the world tomorrow. Working in a sustainable way is central to our business. We’re proud of our progress, but we know we can go further.”
Whether or not this has become a factor recently is to be seen. However, whatever the catalyst, VNTR stock is experiencing one of its most active sessions of the year on Wednesday.
Sio Gene Therapies (NASDAQ: SIOX)
Another one of the penny stocks under $1 gaining momentum is Sio Gene Therapies. You’ll notice on the SIOX stock chart that daily trading volumes have increased over the last month, with the most active days coming this week.
The biotech company has been working through some rebalancing as of late. This includes terminating licenses of three clinical-stage programs as well as reducing its workforce. These efforts have been made in hopes of arriving at a positive outcome for its strategic process. Sio Gene anticipates providing an update on the process by the end of the year.
As more companies, especially ones with share prices deeply below $1, seek “strategic alternatives,” speculation has become a more significant driver. Questions like “what will be the outcome of the search for alternatives?” and “could it mean something greater for shareholders?” are some that come to mind setting an undertone of mystery for traders. This speculative angle has become a catalyst on its own, more often than not, until a company reports its official plan.
With this, it’s important to keep your trading plan in mind. Depending on what, if anything, is eventually reported, it could mean a bullish or bearish trigger for penny stocks.
DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT)
It isn’t the highest volume name on this list of penny stocks. But some recent upticks in unusual activity have put it on a few watch lists. DIRTT Environmental Solutions is no stranger to sub-$1 levels. But the last week of trading has seen shares rebound a bit. A string of Form 4s and Schedule 13Ds have come to light as they indicate some insider/institutional trading action in response to a recent private placement for just under $3 million. DIRTT raised $2.8 million at a placement price of $0.32 per share.
Like Sio Gene, DIRTT is also pursuing strategic alternatives. The funding went toward supporting liquidity as the company works through the process. This comes shortly after it reported better-than-expected Q3 earnings per share and sales results.
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In its earnings update, CEO Benjamin Urban explained, “The improved margins in the business are a direct result of the rebalancing of our pricing and our manufacturing team’s focus on improving quality and controlling costs. Like many companies, we continue to navigate uncertain macro-economic market conditions, but we continue to see positive growth trends in quoting, win-rates and order activity.”
The most recent Form 4 filing showed Director & 10% owner Shaun Noll picking up more than 3.4 million shares at an average price of $0.28 through 726 BC LLC & 726 BF LLC.
List Of Penny Stocks Under $1 To Watch
- Kalera Public Ltd. (NASDAQ: KAL)
- Venator Materials (NYSE: VNTR)
- Sio Gene Therapies (NASDAQ: SIOX)
- DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT)
- Pagaya Technologies Ltd. (NASDAQ: PGY)
- Bone Biologics Corp. (NASDAQ: BBLG)
- SiNtx Technologies Inc. (NASDAQ: SINT)
- Akebia Therapeutics Inc. (NASDAQ: AKBA)
- HTG Molecular Diagnostics Inc. (NASDAQ: HTGM)
- Wearable Devices Ltd. (NASDAQ: WLDS)
- Hillstream BioPharma (NASDAQ: HILS)
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