Top Penny Stocks To Buy Now According To Analysts; 1 Up 250%+ In 2020

Click to rate this stock
[Total: 0 Average: 0]

Do Analysts Think These Are Penny Stocks To Buy Now?

This has been one of the roughest weeks for penny stocks and blue chip stocks alike. The sheer force of this October sell-off is something we haven’t seen the likes of since March. In fact, if you look at the S&P 500 for the last two weeks, the trend becomes even clearer. The S&P was at $3,534 on October 12th and by the 31st, it reached a new October low of $3,233.94; an 8.5% drop in just 2 weeks.

Something to take into consideration, however, is where it is since this time in September. If you remember, last month saw some increased volatility as well. The S&P ended up bouncing before the end of the month, however, during the final stretch, it hit a low of $3,209.45; just $24 shy of this month’s low.

So, while we’re seeing some pre-election jitters, we aren’t in any uncharted territory that we haven’t seen in the last month or so. It just so happens that the timing coincides with a major political event paired with bigger COVID numbers and no signs of an immediate stimulus. Meanwhile, we’ve got other countries going back into lockdown. Friday, the Belgian Prime Minister announced a nationwide coronavirus lockdown.

Read More

What this means for next week could really be a coinflip. We’ve seen plenty of weekends that began “in the red” but opened strongly on the following Monday. Will that be the case for election week? We’ll have to see, but the fact remains, even with this sea of red, there are several penny stocks trading higher.

Penny Stocks To Buy [According To Analysts]: CASI Pharmaceuticals Inc.

CASI Pharmaceuticals Inc. (CASI Stock Report) extended its recent 6-day uptrend on Friday. Shares of CASI stock reached a high of $2.40 during the first half of the session. This brought the rally to roughly 41% within that period. Oppenheimer recently picked up coverage on CASI stock. The firm started with an Outperform rating and announced a $5 price target.

The biotechnology company had also come out with a substantial update that acted as another fundamental catalyst. BioInvent International AB and CASI Pharmaceuticals entered into an exclusive licensing agreement for the development and commercialization of anti-FcγRIIB antibody, BI-1206, in mainland China, Taiwan, Hong Kong and Macau. The two companies will develop BI-106 in liquid and solid cancers. CASI will be tasked with commercializing in China and associated markets.

A recent 8K filing confirmed the material event. Heading into next week and next month, we’ll have to see how progress holds up in this new venture. Keep in mind that this isn’t the only treatment CASI is working on. Early this month, CASI presented research conducted at the New York Blood Center. This investigated the impact of CID-103 on RBC pretransfusion test methods. CID-103 is CASI’s treatment candidate for patients with multiple myeloma and as we know, cancer stocks have been a hot topic in October.

penny stocks to buy according to analysts CASI Pharmaceuticals Inc. (CASI stock chart)

Penny Stocks To Buy [According To Analysts]: MICT Inc.

If you know this company’s name, you know its trading symbol. MICT Inc. (MICT Stock Report) enjoyed a strong reversal on Friday. The penny stock was trailing lower for the better part of the last 50 days or so. The move came as shares of a number of financial technology (Fintech) stocks traded higher on Friday. The company operates through its subsidiaries and focuses on trading technology for high growth sectors in global fintech. The company also has a subsidiary dealing with mobile computing solutions.

Earlier this month a subsidiary of MICT’s GFH Intermediate Holdings subsidiary closed a deal to acquire a Hong Kong-based securities and investment firm. In a similar fashion to some of the U.S. mobile trading apps, MICT looks to integrate its mobile app supporting the platform with the Hong Kong-based securities and investment firm’s licensed trading assets.

“MICT’s licensed, integrated global platform is positioned to serve the growing Chinese middle class who are increasingly trading through apps on their domestic stock exchanges as well as top tier global markets including U.S. exchanges.”

The current analyst rating is a Buy right now. Aegis Capital issued the rating also giving MICT stock a $6 price target. Since the start of the year, the penny stock is up over 250%

penny stocks to buy according to analysts MICT Inc. (MICT stock chart)

Penny Stocks To Hold [According To Analysts]: BGC Partners Inc.

While BGC Partners Inc. (BGCP Stock Report) wasn’t most recently given a Buy rating, it does carry two ratings, one being a Buy from BGC Financial and one from this year from Raymond James at Market Perform. Neither rating carries a price target currently, however, recent trading activity suggests that the market is paying attention to the company right now.

[Read More] Penny Stocks on Robinhood To Buy Under $1 Right Now

BGC is also a fintech penny stock conducting brokerage and other financial activities. This week the company reported its third quarter results, which sparked a nice move in the penny stock. BGC missed on EPS estimates with $0.11 compared to $0.70. However, it was able to post a beat on sales with $455 million compared to Wall Street’s $451.05 million.

Despite the beat, year-over-year results were down 12.7% on revenues but up 938.1% higher on GAAP net income. “We’ve made excellent progress this quarter with respect to our investments in Fenics and insurance brokerage. Our Fenics brokerage revenues grew by double digits for the second consecutive quarter. Fenics UST and Fenics GO, two of our newer fully electronic offerings, reached record levels of market share, and our insurance brokerage group is positioned to turn profitable for the fourth quarter and for the full year 2021,” said Howard W. Lutnick, Chairman and Chief Executive Officer of BGC.

penny stocks to buy according to analysts BGC Partners Inc. (BGCP stock chart)

Penny Stocks To Buy [According To Analysts]: Zedge Inc.

While Zedge Inc. (ZDGE Stock Report) isn’t a fintech penny stock, it is one of the tech stocks taking off on Friday. We discussed it in our list of epicenter penny stocks to watch this month. Zedge focuses on mobile publishing and content. Its clients can launch things like virtual storefronts right in Zedge. They then have the ability to market and sell content via the built-in user base. With over 436 million downloads and roughly 29 million monthly users, the popularity of its app has grown.

The company recently posted its fiscal fourth-quarter results showing a profit of $0.04 per share and better-than-expected sales of $2.7 million. This came in light of stronger paid subscriptions during the quarter. Since then, ZDGE stock has climbed over 140% and ended up reaching highs of $4.14 after the market closed on Friday. Year-to-date, the stock is up over 120%.

ZDGE stock currently carries a Buy rating with National Securities being the most recent firm to weigh in. National also has a $3 price target on the penny stock.

penny stocks to buy according to analysts Zedge Inc. (ZDGE stock chart)

The post Top Penny Stocks To Buy Now According To Analysts; 1 Up 250%+ In 2020 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Leave a Reply

Your email address will not be published. Required fields are marked *