Are These Penny Stocks Worth Watching This Week?
With a three-day weekend at hand, many investors are looking for the best penny stocks to buy. And, this weekend also signals the first full week of September, which could bring about renewed bullish sentiment into the market.
While a new month is not a complete paradigm shift in the market, it does present a clean slate for investors to work off of. And, in the past two months, trading has been more or less flat as a result of the Delta variant. However in the past two weeks or so, we have seen more bullish price action than usual.
It seems as though this is the result of traders showing their excitement and comfortability with the future and the current state of the pandemic. While it is difficult to predict when case numbers will calm down, many traders are looking toward the future. To benefit from the pandemic, some penny stocks investors have turned to reopening penny stocks, biotech stocks, and tech stocks.
These areas have all performed relatively well in the past six months, with no signs of slowing down anytime soon. While the stock market is quite volatile right now, there are without a doubt, plenty of ways to make money with penny stocks in 2021. Considering this, let’s take a look at three penny stocks to watch after the long weekend.
3 Penny Stocks to Watch After the Long Weekend
- BIOLASE Inc. (NASDAQ: BIOL)
- Pieris Pharmaceuticals Inc. (NASDAQ: PIRS)
- Boxlight Corp. (NASDAQ: BOXL)
BIOLASE Inc. (NASDAQ: BIOL)
BIOLASE Inc. is a biotech company that sells laser systems for the dental industry. The company is involved in the development, manufacturing, marketing, and sale of these products. This means that it is, for the most part, a vertically integrated biotech company. Its products allow dentists to perform minimally invasive procedures, such as cosmetic and restorative procedures. And, the main goal of the products is to reduce complications from minimally invasive procedures in addition to enhancing clinical outcomes.
On August 31st, BIOLASE announced a clinical advisory partnership with endodontist Dr. L. Stephen Buchanan. Dr. Buchanan has been lecturing and teaching endodontic education courses for more than 30 years. He will now incorporate BIOLASE’s Waterlase technology in his programs. Partnerships like these are always exciting for the company and investors alike. They allow for heightened collaboration and the ability to make products better in the long run.
“We are proud to be partnering with Dr. Buchanan because of his reputation as an expert in the research and development of new technology, instruments, and techniques in endodontics.”
John Beaver, the President and CEO of BIOLASE
The growth of BIOL stock over time is undeniable. Just one month ago, BIOL stock was at $0.56 per share on average. Only a few weeks later, BIOL stock sits at over $0.77 per share. Noting this information, is BIOL stock a contender for your penny stocks watchlist right now?
Pieris Pharmaceuticals Inc. (NASDAQ: PIRS)
Pieris Pharmaceuticals Inc. is a biotech penny stock that has continued to see sizable gains in the past few weeks. It’s worth noting that biotech companies are on fire right now as a result of the pandemic. And because of this, many investors are paying attention to companies like Pieris. For some context, this company produces anticalin protein-based drugs and has various active clinical trials.
Currently, it is in the development of PRS-060/AZD1402 which is in Phase 2 clinical trials to treat asthma and other inflammatory diseases. In 2021, there is a major focus on respiratory diseases as a result of the pandemic. And while Pieris is not working on a Covid treatment, its work on respiratory-related illnesses could increase its correlation to the pandemic.
On August 24th, the company announced a presentation of PRS-220 at the European Respiratory Society (ERS) International Congress 2021. PRS-220 is a connective tissue growth factor inhibitor for treating idiopathic pulmonary fibrosis. This presentation will be taking place on Sunday, September 5th from 1:15 pm to 2:15 pm CET. Presentations like these are important to pay attention to as they allow for increased insight into what a company is doing.
In the last 5 days, PIRS stock has gone up in value significantly. This is possibly tied to Pieris’ upcoming presentation for the ERS in a few days. Only a week or so ago, PIRS stock was at $4.09 per share on average. Now only a week later, PIRS stock sits at over $5 per share. While this means that it is technically no longer a penny stock, it was only a few days ago. This illustrates the potential that stocks under $5 can have. Keeping this in mind, is PIRS a contender for your list of penny stocks to watch?
Boxlight Corp. (NASDAQ: BOXL)
Boxlight Corp. is a penny stock that we have discussed numerous times over the past few months. And, in its latest quarterly report, the company posted some stellar numbers. But before we get into this, let’s take a closer look at what Boxlight does. Boxlight is a leader in the edu-tech world, providing its brands such as Clevertouch and Mimio. These include tech products such as interactive displays, collaboration software, accessories, and more to both educational and business environments.
In its Q2 2021 financial results, Boxlight reported a major revenue increase of 497% to $46.8 million. In addition, its customer orders increased by almost 1000% to $76 million which is no small feat. And lastly, it managed to end the quarter with over $48 million in backorders. With this, it expects to bring in around $60 million in revenue in Q3 of this year.
Michael Pope, CEO of Boxlight stated that “We delivered another record quarter, again outperforming both our external guidance and internal targets.” This is all exciting news for both the company and investors alike. And, with the demand for edu-tech only continuing to increase, BOXL stock could be worth keeping a close eye on. Whether it deserves a spot on your watchlist however, is up to you.
Which Penny Stocks Are You Watching Right Now?
With the long weekend coming to an end, many investors are searching for the best penny stocks to buy. Although it can be difficult to come across major winners every day, investors can use the insight they have to find potential big gainers in the short and long term.
Considering that there are hundreds of penny stocks to choose from, finding the best ones for your watchlist can be a challenge. So, with all of this in mind, which penny stocks are you watching right now?