3 Penny Stocks to Add to Your September 2021 Watchlist
While many penny stocks investors often look to stocks that are big gainers for their watchlists, there is plenty of opportunity with stocks that may be down on a trading day. With penny stocks or blue chips, there is always a natural ebb and flow in the market.
With the exception of news-related price movements, shares will always move up and down alongside speculation and fundamentals. So, if a stock is down one day, it could move up the next and vice versa. This is in no way a guarantee of price movement, however, it can be a unique strategy to utilize when making a penny stock watchlist.
As mentioned earlier, investors should keep in mind that bad news will often affect a stock negatively. But, a stock moving down with no news at all, could be worth watching for an eventual uptick. As always, use the research tools at your disposal to ensure that a penny stock is worth buying. Considering this, let’s take a look at three penny stocks to see whether or not they are worth buying at current prices.
3 Penny Stocks to Watch in September 2021
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a penny stock that is down by around 4% at EOD on September 16th. However, in the past month, shares have climbed by over 12% for a one-year gain of over 220%. At its current price, does RIG stock present a buying opportunity? Well, to understand this, let’s go a step deeper. This is a company that provides offshore contract drilling services. Transocean contracts drilling rigs, equipment, and work crews. The company owns or has partial ownership in 37 mobile offshore drilling units, 27 deepwater, and 10 harsh environment floaters.
Back in early August, the company reported its second-quarter results for 2021. The company’s total contract drilling revenues were at $656 million for the quarter. Transocean’s revenue efficiency was 98% compared to 97.4% the previous quarter. Now the company has announced that it secured a $252 million contract for a newbuild ultra-deepwater drillship, the Deepwater Atlas. This deal includes a mobilization fee of $30 million along with other milestone payments. All of this is exciting news for the company, and especially so considering the current state of the shipping market.
President and CEO Jeremy Thigpen said, “We are extremely pleased to have secured the maiden contract for the Deepwater Atlas; the first of our two 8th generation ultra-deepwater drillships that will enter the market in 2022, both of which will be outfitted for 20,000 psi ultra-deepwater well operations.” With so much new information to keep in mind, will RIG make your list of penny stocks to watch?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is another penny stock that may be down on the day, but it is up by around 5% in the past five days or so. Over the course of the year, IAG stock managed to climb and then fall back down to its current price of just north of $2.30 per share. But, with gold stocks heating up right now, IAG could present an interesting opportunity.
This company develops and operates various gold mining properties in several countries. It currently operates out of North America, South America, and West Africa. IAMGOLD has active interests in the Essakane mine, Rosebel mine, and Westwood mine among many others in these locations.
Back in August, IAMGOLD released its second-quarter financial results for the year. This mining stock is still recovering from the pandemic at the moment. As a result of Covid-related troubles, IAG did not perform as well as hoped during the second quarter of the year. But, some investors are hopeful for a brighter Q3 2021 which will be reflected in its next quarterly report.
“The second quarter of 2021 was challenging primarily because production from our Rosebel mine was unexpectedly adversely affected by unusually heavy rains and an increase in COVID-19 cases in Suriname, in addition to difficult industrial relations.”
The President and CEO of IAMGOLD, Gordon Stothart
It’s worth considering that IAG stock tends to move with the price of gold itself. And as a result, if you’re interested in IAG or any gold stock, it is worth keeping a close eye on the industry as a whole. It will be interesting to see what the future performance of the company is going into the second half of September. For now, will this company be on your penny stocks watchlist?
Enzolytics Inc. (OTC: ENZC)
Enzolytics Inc. is a biotech penny stock that is down today following a major gain in the previous trading day. For the past five days and the YTD period, ENZC stock is up by around 17% and 100% respectively. This company focuses on commercializing products for treating infectious diseases. It currently has anti-HIV therapeutics that utilize non-toxic passive immunotherapy. Its current anti-HIV treatments are clinically tested and in the various trial stages, which is exciting for investors to consider.
On July 29th, the company reported its progress toward completing clinical trials for its ITV-1 anti-HIV therapeutic. It also reported its progress towards securing use authorization from the European Medicines Agency. Enzolytics has completed arrangements and agreements with Danhson and Clinic Design to advance its product to production and clinical trials. These steps are necessary to receive approval from the EMA.
“As this is the second time our ITV-1 therapeutic has progressed through clinical trials and the first trials were successful, we are fully confident that we will succeed in the permitting process. With the reciprocal treaty between the EMA and FDA, we believe that the EMA approval with lead to further advancement of our ITV-1 as a successful therapy.”
CSO of Enzolytics, Harry Zhabilov
Despite no recent company-specific updates, ENZC stock has been gaining traction in the past few days. This could be due to the overall bullish sentiment in the biotech industry right now. It’s worth noting that its volume is also much higher than its average in the market. So keeping this in mind, will ENZC make your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is a careful combination of an investing strategy and the proper fundamentals. If you spend the time doing all the research you can, it can be much easier to land on a penny stock that could be worth it.
An interesting method to use is finding penny stocks that are down on the trading day, and therefore, could have the potential to rebound in the near term period. Considering all of this, which penny stocks are you watching right now?