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Top Penny Stocks To Buy Now? 3 For Your Watchlist This Week

With another week upon us, investors are looking for the best penny stocks to buy. And, in 2021, there are quite a lot of catalysts that are impacting the market. The biggest impact right now is, of course, the pandemic. With Covid cases rising in the U.S. and abroad, many investors have turned to more safeguard penny stocks. This includes those in the mining industry, raw materials, and others. 

However, on the flip side, some investors have chosen penny stocks that could benefit from the pandemic. These are aptly referred to as reopening penny stocks. Some examples of this include tech penny stocks, biotech penny stocks, and some entertainment stocks. However, the choice is mostly dependent on your risk tolerance and your portfolio goals. For this reason, it is key to understand what type of trader you are, and what penny stocks you may be looking for. 

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In addition, investors should have a thorough understanding of all the companies on their penny stocks watchlists. This means doing the research, understanding what makes a specific penny stock or industry move, and where the company could go in the long term. Once all the research is done traders should work to understand where the market could be headed at large. Considering all of this, let’s take a look at three penny stocks for your watchlist this week. 

3 Penny Stocks to Watch This Week 

Ardelyx Inc. (NASDAQ: ARDX) Camber Energy Inc. (NYSE: CEI) Phunware Inc. (NASDAQ: PHUN

Ardelyx Inc. (NASDAQ: ARDX)

Ardelyx Inc. is a biotech penny stock that has seen several steady increased in the market over the past few months. This company develops medicines for treating kidney and cardiorenal diseases. Its lead product is tenapanor, which completed Phase 3 clinical trial to treat patients with IBS. It also has RDX013, which is in Phase 2 trial for patients with hyperkalemia. With any biotech penny stock, a product in Phase 3 trials is always good news. But, investors should stay up to date on how the company is progressing.

On August 13th, Ardelyx reported its second-quarter financial results and a company update for 2021. In July, the company announced that the FDA issued a Complete Response Letter for its New Drug Application for tenapanor. The company plans to request a Type A meeting with the FDA to discuss the response letter and next steps to support the approval of its new drug application. This is a major win for Ardelyx, and could be one of the main reasons that shares of ARDX stock have increased in the past week or so.

In terms of its financials, Ardelyx’s general and administrative expenses increased by 186% year over year. Its net loss also totaled $45.2 million compared to $25 million the year prior. Ardelyx also generated $1.3 million in revenue partially because of a collaboration with itself and Kyowa Kirin Co. Ltd. While this may not seem like the most positive news, losses are without a doubt a part of growth. And, because of this, investors should try to keep up to date with ARDX’s next moves. With all of this new information in mind, will ARDX stock make your watchlist?

Camber Energy Inc. (NYSE: CEI)

Camber Energy Inc. is an energy penny stock that has been able to capitalize on the heightened demand for fuel in the past six months. This company acquires land, develops it, and then sells the crude oil and natural gasses it discovers. As of March 31st, 2020, the company had 133,442 million barrels of oil equivalent. This is quite a significant amount, and makes Camber a decent-sized player in the industry. 

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On August 17th, Camber’s majority-owned subsidiary Viking Energy Group Inc. released its second-quarter results for 2021. In the report, Viking’s revenue increased by more than $1 million year over year. The company’s total revenue was $10.7 million for the quarter, bringing its total to $21.19 million for the year so far. 

“We are pleased with Viking’s second-quarter results, and are very excited about steps we have taken subsequent to the end of Q2 to strengthen the organization, including Viking’s recent acquisition of a majority interest in Simson-Maxwell Ltd., a leading power generation and energy solutions company.”

The CEO of Camber and Viking, James Doris

The announcement of its balance sheet is most likely the reason for Camber’s recent bullish momentum. These positive numbers suggest both the growth of the energy industry and Camber’s business as a whole. With this in mind, is CEI stock worth adding to your list of penny stocks to watch?

Phunware Inc. (NASDAQ: PHUN)

Phunware Inc. is a tech penny stock that has increased in value steadily over the past few trading days. This is a company that hosts a software platform to allow companies to manage mobile applications. Phunware’s platform allows companies to engage with, manage, and monetize via their mobile apps. Throughout the pandemic, the need for tech-related services has continued to increase. And, Phunware has been able to capitalize upon this through its business.

On August 17th, the company announced a collaboration with Cox Communications to deliver a premier mobile smart hospital solution. Cox actively delivers connected health solutions for enhancing the patient to caregiver relationship. Phunware’s technology will be used to expand on these capabilities. This is also a clear representation of Phunware’s commitment to shifting its business in ways to better suit its investors. 

“By collaborating with Phunware and leveraging their proven mobile software, we will be able to better support excellent patient experiences and outcomes, drive cost savings, and more efficiently coordinate facility resources.”

The Director of New Growth at Cox, George Valentine

Shortly after this announcement, shares of PHUN stock pushed up by over 5%. With this in mind, is PHUN a contender for your penny stock watchlist before August ends?

Which Penny Stocks Are on Your Watchlist?

Finding the best penny stocks for your watchlist is all about understanding where the market is headed. In addition, investors should have a thorough understanding of the penny stocks they’re interested in and what those companies could do in the near future. 

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Considering that there are so many penny stocks to choose from, finding the best ones for your list can be difficult. But, with a commitment to research and understanding how to trade penny stocks, it can be much easier than previously anticipated. 

The post Top Penny Stocks To Buy Now? 3 For Your Watchlist This Week appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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