A penny stock is a security with a market capitalization less than $1 per share, which is what investors usually mean when they talk about penny stocks.Many people visualize million-dollar brokers who trade shares of major corporations when they think of stock trading but a professional trader doesn’t necessarily have millions of dollars worth of free capital at their disposal. Penny stocks that offer diversity and variety are also among the stocks that people look for to invest in now.
Occasionally referred to as microcap or nanocap stocks, penny stocks are small-company stocks with low valuations. This type of stock is often under $1 per share, making it more accessible to new investors or people with limited capital.The majority of people want to know how to find the best penny stocks, but they don’t want to devote the time and effort necessary to conduct intensive research.It’s difficult to identify companies with potential when there are so many stocks trading under one dollar.
While looking at these difficulties which investors are facing while investing in Penny stocks, Stocks Telegraph have done a complete research and analysis on latest penny stocks. In this article we are presenting you the 5 best stocks under $1 to invest.
VEON Ltd. (VEON) stock gained 0.36% to close Thursday’s session at $0.45. The stock volume remained 1.01 million shares, which was lower than the average daily volume of 2.5 million shares within the past 50 days. VEON shares have fallen by -76.06% over the last 12 months, and they have moved up by 0.72% in the past week. Over the past three months, the stock has lost -23.03%, while over the past six months, it has shed -73.81%. Further, the company has a current market of $1.07 billion and its outstanding shares stood at 1.75 billion.
A recent spot check on the stock’s support and resistance revealed that the publicly-traded VEON Ltd. (NASDAQ: VEON) shares are trading at a price close to -34.53% lower than its 90-day high. On the other hand, the stock is +8.48% away from its low in the 90-day period. More broadly, VEON’s current price is -81.29% away from 52-week high. The price is 85.50% above from its 52-week low.
Ideanomics Inc. (IDEX)
The stock of Ideanomics Inc. (IDEX) gained 0.80% to complete the last trading session at $0.70. The price range of the company’s shares was between $0.6847 and $0.7095. It traded 2.98 million shares, which was below its daily average of 6.65 million shares over 100 days. IDEX’s shares have dropped by -4.96% in the last five days, while they have added 10.00% in the last month. Further, it is currently trading at a price to book ratio of 0.63.
According to a U.S. Securities and Exchange Commission filing, Fidelity Small Cap Index Fund has added its position in Ideanomics Inc. (IDEX) to 3,704,738 shares, mirroring a recent increase by 11.48%. Fidelity Small Cap Index Fund added 0.38 million shares of Ideanomics Inc. common stock bringing its total worth to about $2.46 million at the end of recent close, SEC documents show. Fidelity Small Cap Index Fund isn’t the only investment manager who changed stakes and is followed by SPDR S&P Kensho New Economies Com, which added 1672.0 shares to end up with 1,592,386 shares worth $1.06 million. Vanguard Russell 2000 Index Fund cut their holdings by -0.12% in the company over the course of the most recent quarter. It now holds a 0.25% position in Ideanomics Inc. thanks to 1.25 million shares amounting to $0.83 million.
Uxin Limited (UXIN)
Uxin Limited (UXIN) stock closed last session at $0.77, decreasing -4.33% or -$0.03. Shares of the company fluctuated between $0.7514 and $0.8179 throughout the day. The number of shares exchanged was 1.5 million, less than the company’s 50-day daily volume of 3.62 million and lower than its Year to date volume of 2.09 million. The stock has returned -51.46% so far this year.
Multiple groups of Wall Street analysts have recently been drawn to the UXIN stock, with those at JP Morgan Downgrade the stock to “a Neutral”. The analysts released their assessment via a research note they published October 23, 2019. Analysts at Credit Suisse maintained their earlier rating, although they did raise the stock’s price target to $7.70. Over at JP Morgan, the analysts restated the earlier stance about Uxin Limited shares, rating the shares “an Overweight.” in a note released January 10, 2019.
Cazoo Group Ltd (CZOO)
Cazoo Group Ltd (CZOO) stock subtracted -5.63% to finish last trading session at $0.64. The stock recorded a trading volume of 3.52 million shares, which is below the average daily trading volume published for the last 50 days of 2.78 million shares. The shares of Cazoo Group Ltd have advanced -14.78% in the last five days; however, they have lost -37.87% over the last one month. The stock price has shed -78.38% over the last three months and has lost -93.52 percent so far this year. Additionally, its price to sales ratio stands at 0.61.
Although the stock has performed remarkably well in recent months, the overall interest from investors has dropped noticeably. That has seen its trading volume surge by 28.62%, figures that rank poorly compared to the stock’s average volumes. This information is critical as it reflects the stocks’ float size, given that the market is exposed to 61.04 million shares of the company.
Sesen Bio Inc. (SESN)
Sesen Bio Inc. (SESN) is rising on the charts today, up 1.49% to trade at $0.9195 at last check in afterhours trading. On Thursday, shares in Sesen Bio Inc. fell -2.49% to close the day at $0.91. The volume of shares traded was 2.52 million, which is lower than the average volume over the last three months of 5.73 million. During the trading session, the stock oscillated between $0.9029 and $0.965. The company had earnings per share ratio of 0.25. SESN’s stock has lost -2.86% of its value in the previous five sessions and 40.42% over the past one month, but has gained 11.17% on year-to-date basis. The stock’s 50-day moving average of $0.6596 is above the 200-day moving average of $0.7671. Moreover, the stock is currently trading at RSI of 61.22.
Its 12-month price target is $1.78. To reach the target analysts have set, the stock logically needs to grow -95.6 percent from here. And then, on the bullish side of things, one analyst is expecting the stock to peak at $0.56.