7 Penny Shares to Watch in July 2021
As we inch nearer towards July, the marketplace for each penny shares and blue chips is heating up. That is illustrated by greater than common quantity and several other constant gainers throughout the board. Whereas the final two months of trading penny stocks has not been straightforward, many traders imagine that there’s a gentle on the finish of the tunnel. With Covid circumstances hitting new lows and staying that manner, we may see the end line of the pandemic shortly.
Clearly, there are worries about long-term inflation, and we’ve got to contemplate the large volatility of the cryptocurrency market proper now. Nevertheless, all of those are including gas to the massive swings of penny stocks and the inventory market as an entire. With this in thoughts, listed here are seven sizzling penny shares to look at in 2021.
High 7 Penny Shares to Watch
- Ocugen Inc. (NASDAQ: OCGN)
- Uranium Power Corp. (NYSE: UEC)
- Kelso Applied sciences Inc. (NYSE: KIQ)
- ENGlobal Corp. (NASDAQ: ENG)
- Progenity Inc. (NASDAQ: PROG)
- Invesco Mortgage Capital Inc. (NYSE: IVR)
- Ambev S.A. (NYSE: ABEV)
Ocugen Inc. (NASDAQ: OCGN)
Ocugen Inc. is a biotech penny stock creating gene therapies to remedy blindness-related ailments. One in all its predominant merchandise is OCU400, which is a novel gene remedy product candidate that restores retinal integrity and performance in these with each retinitis pigmentosa and Leber congenital amaurosis. It additionally has OCU410 which is a gene remedy candidate to deal with dry age-related macular degeneration.
Ocugen at present is partnered with Bharat Biotech, which is making a vaccine candidate for COVID-19. It has at present been reported that this “Covaxin” product exhibits 77.8% efficacy in defending in opposition to COVID-19. This information was submitted to the Medicine Controller Normal of India over the weekend. This vaccine candidate can be on observe for potential emergency use itemizing from the World Well being Group.
If this had been to happen, it could undoubtedly be stable information for each events. When 2021 began, OCGN inventory value was at about $3 per share on common. Now on June twenty fourth, this penny inventory is at $8 per share on common. Whereas it isn’t essentially a penny inventory proper now, it has been for fairly a while earlier than its current upticks. Prior to now six months, shares have shot up by over 263%, making OCGN an ideal instance of an organization that traversed penny inventory territory. With this in thoughts, will it’s in your watchlist?
Uranium Power Corp. (NYSE: UEC)
Uranium Power Corp. is a mining penny stock that explores, extracts, and processes uranium and titanium focus. The US primarily based firm owns an curiosity within the Palangana mine, Burke Hole, Goliad, Longhorn, and extra. The vast majority of its mining initiatives are positioned in Texas, Arizona, Colorado, Canada, and Paraguay.
On June ninth, Uranium Power Corp. filed its fiscal 2021 third-quarter report. As of April thirtieth, the corporate held $132.4 million in money, fairness, and bodily holdings. That is comprised of $47.9 million in money, uranium stock holdings of $26.2 million, and 14 million shares of Uranium Royalty Corp. with a market worth of $49.3 million. This huge uranium stockpile is among the causes that so many traders are fascinated with UEC inventory.
Solely six months in the past this penny inventory was at $1.76 per share on common. Now UEC inventory value is at almost $3 per share on common. All of this momentum exhibits how nicely the mining sector has been performing recently. So protecting all of this current info in thoughts, will you add UEC to your record of penny shares to look at?
Kelso Applied sciences Inc. (NYSE: KIQ)
An industrial penny inventory that has been performing nicely not too long ago is Kelso Applied sciences Inc. This firm develops, produces, and distributes proprietary gear utilized in transportation functions. It gives merchandise resembling railway gear, tank gauges, lab take a look at gear, emergency response kits, and far more. It additionally gives trucking parts resembling one-bolt man-ways and strain/vacuum security valves.
There isn’t any current company-specific information that’s making KIQ inventory go up. However what might be assumed is that as COVID-19 restrictions loosen around the globe, industrial firms can function at a full capability. Because of this gear is getting used near pre-covid ranges.
KIQ inventory can be incessantly talked about on Reddit, notably on r/RobinhoodPennyStocks and r/WallStreetbetsELITE. May this be the explanation that KIQ inventory has a better quantity proper now than its common? Effectively, that’s powerful to say however what we do know is that this penny inventory has elevated by over $0.10 per share within the final month. So with this in thoughts, KIQ may very well be value maintaining a tally of in 2021.
ENGlobal Company (NASDAQ: ENG)
ENGlobal Company is one other industrial penny inventory that has been performing nicely out there. This firm has two sections, one being EPCM and the opposite being automation. Its EPCM part provides multi-disciplined engineering companies associated to creating, managing, and executing initiatives that want skilled engineers. Its automation sector gives design, integration, and implementation of course of distributed management, analyzer programs, and extra.
On June seventh the newest replace was launched from ENGlobal Company. The corporate introduced that after U.S. markets shut on Friday, June twenty fifth, it should be part of the Russell Microcap Index. This one-year membership gives computerized inclusion within the acceptable progress and worth type indexes.
“We’re happy to have been chosen for addition to the Russell Microcap® Index. We imagine this addition validates the steadiness of our enterprise and our future enterprise prospects and can be an added alternative for us to intensify investor consciousness as we work to construct shareholder worth.”
Chief Government at ENGlobal Mark Hess
That is huge information and will deliver an excessive amount of consideration to ENG inventory. Contemplating this, it may very well be value watching proper now.
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a biotech penny inventory that has been gaining momentum in current buying and selling periods. The corporate develops and commercializes molecular testing merchandise, that are in excessive demand proper now. Progenity’s Innatal product gives noninvasive prenatal screening to girls in early being pregnant to see chromosome abnormalities. It has a big number of different product candidates as nicely.
Progenity caught current consideration because it now gives COVID-19 PCR testing companies. Firms that create COVID-19 associated merchandise not too long ago have been seeing extra consideration than others. This might clarify why PROG inventory is buying and selling at greater than 4 instances its common quantity proper now.
Lately, the corporate participated within the Raymond James 2021 Human Well being Innovation convention. The corporate additionally introduced a $40 million personal placement initially of June. The online proceeds can be used to help operations, put money into molecular testing analysis and improvement, and far more. PROG inventory was at $2.49 per share one month in the past. Now on June twenty fourth, PROG’s inventory value is at $3.56 per share on common. So will you add PROG to your record of penny shares to look at in 2021?
Invesco Mortgage Capital Inc. (NYSE: IVR)
The actual property market has taken off within the final yr, fueled by the pandemic. Because of this penny shares like Invesco Mortgage Capital Inc. have been rising in market worth. This firm is an actual property funding belief (REIT). Its predominant focus is investing in, financing, and managing mortgage-backed securities and different mortgage-related property.
On June twenty third the corporate introduced its quarterly widespread dividend. The money dividend of $0.09 per share can be paid on July twenty seventh to stockholders on report as of July sixth. Aside from this, the corporate has not launched any current updates. So why is IVR inventory performing so nicely out there proper now?
Effectively, this may be attributed to the actual property growth in the US proper now. Invesco has skilled loads of constructive momentum as actual property property worth rises. 6 months in the past the corporate was at $3.35 per share on common. As of June twenty fourth, IVR inventory is at $4.10 per share on common. So will this penny inventory make your watchlist this week?
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a beverage penny inventory that produces, distributes, and sells carbonated gentle drinks and beer in addition to meals merchandise. A few of the manufacturers it sells are Gatorade, Lipton, Pepsi, Seven Up, amongst many others. These merchandise are provided within the Americas, Brazil, Central America, the Caribbean, and extra. Throughout each instances of financial hardship and prosperity, firms that produce drinks and alcohol particularly, are likely to do fairly nicely.
All through the pandemic, Ambev has been a significant performer throughout the market. As well as, it not too long ago introduced that it could be working to affect its large fleet of supply autos. Whereas this doesn’t essentially make it an EV penny inventory, it does present that ABEV is working to maintain up with the instances. Aside from this, there haven’t been any current updates from Ambev S.A. regardless of it constantly transferring up within the final month. Contemplating its sizable position within the beverage business worldwide, ABEV inventory may very well be value maintaining a tally of.
Which Penny Shares Are You Watching?
As we transfer additional towards the tip of the yr, loads of penny shares are displaying potential. With a lot motion occurring prior to now few weeks, traders can make the most of this excessive volatility. Contemplating this, which penny shares are you watching?