As we move toward July, penny stocks are heating up. While the past two to three months have not been ideal with low volume and mostly sideways trading, many investors are excited about the future. Traders are looking forward to the end of the pandemic and the positive effect that it may have on the stock market and penny stocks in particular. But, in the meantime, now could be a great opportunity to find penny stocks to buy for relatively cheap prices.
As always, doing your own research will put you at a greater chance of success than just blindly investing. And with so much going on in the market right now, information will continue to be your best friend. Additionally, having a trading strategy and sticking to it will help to avoid unwanted losses in your portfolio. So, considering that 2021 is unlike any year before it, here are seven penny stocks to watch right now.7 Penny Stocks For Your Watchlist
- GEE Group Inc. (NYSE: JOB)
- IAMGOLD Corp. (NYSE: IAG)
- Yamana Gold Inc. (NYSE: AUY)
- Chico’s FAS Inc. (NYSE: CHS)
- ENGlobal Corp. (NASDAQ: ENG)
- U.S. Well Services Inc. (NASDAQ: USWS)
- Ring Energy Inc. (NYSE: REI)
Industrial penny stocks like GEE Group Inc. have been performing very well in the market lately. This company is focused on staffing and placement services and operates in the United States. GEE Group provides permanent and temporary professional, industrial, and physician assistant staffing as well as job placement services. The placement is used in the sectors of technology, accounting, finance, engineering, medical, and much more.
The latest update from GEE Group Inc. comes from June 8th. CIT Group Inc. announced that its asset-based lending business served as the agent and sole lender on a loan and revolving credit facility for GEE Group.
“We appreciated CIT’s expertise in arranging this asset-based financing to support our working capital needs and help fund GEE Group’s growth strategy. This financing represents another milestone in our ongoing effort to build our business while ensuring our financial position and balance sheet remain on solid footing.”The Chairman and CEO of GEE Group, Derek Dewan
The company also announced its second-quarter results on May 17th. These reports were generally seen as positive as its revenue increased year over year. GEE stock shot up significantly only a day ago on June 21st. So with that in mind, will the company make your watchlist?2. IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a mining penny stock that explores, develops, and operates various gold mining properties. Mining stocks have seen a large boost in popularity recently as precious metals and materials rise in price. IAMGOLD’s properties are located in The Americas and West Africa. It currently has an interest in the Rosebel mine, Essakane mine, Westwood mine, Diakha-Siribaya project, and many more assets as well.
There is no company-specific news that is causing IAG stock to move upwards in the market. The reason for its rise in the market could be due to the price of gold itself. When gold moves up, IAG moves up, and vice versa. This is the result of its large correlation to precious metals.
The company’s last update was on May 31st. IAMGOLD announced the filing of an early warning report in connection with Dundee Precious Metals’ proposed acquisition of INV metals. Now the company has agreed to vote all of its common shares of INV Metals in favor of the acquisition by way of plan of arrangement. The company recently reported positive first-quarter results as well. So will IAG make your penny stock watchlist this week?3. Yamana Gold Inc. (NYSE: AUY)
Another high-performing mining stock today is Yamana Gold Inc. This company produces precious metals in various locations around the world. These locations include Canada, Chile, Argentina, and Brazil. The company explores for and produces gold and silver ores. Currently, Yamana has an interest in the Cerro Moro mine, Malartic mine, Minera Florida mine, Jacobina mine, and more.
On June 15th, Yamana Gold released its 2020 material issues report. It announced several different updates in this report. Yamana Gold stated, “Our rapid and comprehensive responses to protect our workers, host communities and business from COVID-19 and logistical support for the distribution of vaccines.” The company also recently provided an update for timing on a feasibility study and development decision for the Wasamac Project.
There is not any other company-specific news that is driving the stock price of AUY upwards. Similar to IAMGOLD, AUY stock can move up or down when materials like gold and silver do the same. So noting all of the above information, is AUY a contender for your list of penny stocks to watch?4. Chico’s FAS Inc. (NYSE: CHS)
Chico’s FAS Inc. is a penny stock that we have frequently mentioned due to its role in the retail industry. For those unfamiliar, Chico’s is a retail penny stock that focuses on clothing, intimates, and accessories. Its brands include Chico’s, White House Black Market, Soma, and TellTale.
The company currently has 1302 stores and 68 international franchise locations. Its stores are located in the United States, Puerto Rico, the United States Virgin Islands, and Mexico.
The latest update from the company came on June 8th. This is when the company reported its first-quarter results. It was here that the company announced first-quarter sales increased by a solid 38.4%. Its gross margin improved to 32.7% in the period as well. CHS stock price has been performing well amid these strong increases.
The CEO and President of Chico’s Molly Langenstein said, “Our first-quarter results underscore the tremendous progress we are making in our turnaround strategy and the power of our three unique brands and being a digital-first, customer-led company. The strong first-quarter performance across all three brands was fueled by our significant improvements in product and marketing, which drove full-price selling.” Considering this, will CHS stock make your watchlist this week?5. ENGlobal Corporation (NASDAQ: ENG)
ENGlobal Corporation is a penny stock that has been moving upward substantially in several recent trading sessions. Industrial companies, in general, have seen a boost amid lowering COVID-19 restrictions. So what does ENGlobal do that is causing its stock price to increase? Let’s first look at the company’s services to get you up to speed. This company provides engineering and automation services to the energy sector.
Its EPCM business provides multi-disciplined engineering services to projects requiring professional engineering and project management. Its automation business provides design, integration, and implementation of process distributed control and analyzer systems, as well as systems for the energy sector.
On June 17th it was announced the ENGlobal has been selected to join the Russell Microcap Index. Chief Executive Mark Hess said, “We believe this addition validates the stability of our business and our future business prospects and will be an added opportunity for us to heighten investor awareness as we work to build shareholder value.”
Since the announcement was made, ENG stock has gone from about $2.60 per share on average to $3.16 per share on average. The company’s volume is astronomically higher than its normal average as seen on June 21st. These are all things to note if you plan on adding ENG to your list of penny stocks to watch this month.6. U.S. Well Services Inc. (NASDAQ: USWS)
Energy penny stocks like U.S. Well Services Inc. have been performing well in the market in 2021. U.S. Well Services is an oilfield service company that is based in the United States. The company provides hydraulic fracturing services to oil and natural gas exploration and production operations.
USWS’s latest announcement was in May when the company announced the full electrification of its portfolio. It has entered a definitive agreement to sell certain diesel-powered hydraulic fracturing equipment for $21 million in net proceeds. This is an interesting development and puts it at the forefront of the ESG market. While it isn’t necessarily a pure-play ESG penny stock, this is an interesting development to consider.
“U.S. Well Services has believed in the superiority of electric technology since our first Clean Fleet® was deployed in 2014. Today, we are beginning to realize our vision of going all-electric, reducing a significant amount of our outstanding debt and streamlining our focus to become the new market leader in our industry.”The President and CEO of U.S. Well Services Joel Broussard
So with this recent announcement and an 11% uptick with USWS stock, will you add it to your watchlist?7. Ring Energy Inc. (NYSE: REI)
Ring Energy Inc. is an exploration and production penny stock in the energy sector. As of the 31st of December 2020, it has proved reserves of about 76.5 million barrels of oil equivalent. It also has an interest in 18,712 net developed acres and 6,650 acres net undeveloped acres. It has a variety of other land as well. Additionally, it sells its oil and natural gas products to marketers, end-users, and other purchasers. On June 16th the company provided an update on its Northwest Shelf Phase II development program.
“The continued successful results from our development program are very encouraging and reinforce our confidence in the strong inventory of drilling locations on our NWS acreage. In addition to the strong production results, all seven wells in our Phase I and Phase II programs were drilled and completed on schedule and within budget.
With the recent positive outcome of our spring 2021 bank redetermination, the increased flexibility afforded by our pivot to a more opportunistic hedging strategy, and a sustained higher oil price environment, we are actively developing plans for our Phase III drilling program that could commence as early as the third quarter 2021.”The Chairman and CEO Mr. Paul D. McKinney
REI stock has gone up nearly 9% as of June 21st. Its recent updates and the sector could be the reason behind its stock price surging in several recent trading sessions. Considering this, will you be adding REI stock to your list of penny stocks to watch?Which Penny Stocks Are You Watching Right Now?
With so much going on in the world, there is plenty of action to take advantage of with penny stocks. While it can be difficult to keep up with all the happenings in the stock market, using research and information as a guide will always be a benefit.
As we move into the second half of 2021, penny stocks continue to look like they are heating up. With all of this in mind, which penny stocks are you watching right now?