There has always been a keen interest in penny stocks among investors due to the possibility of making significant gains within a short span of time. However, the markets are in turmoil at this point, and investors need to do their research thoroughly before investing in a particular stock. Here is a closer look at four promising penny stocks that investors could consider tracking at this point.
Penny Stocks With Unusual Move This Week #1 Accuray
One of the penny stocks to consider as an interesting option at this point is that of Accuray (ARAY). On Tuesday, the company announced its financial results for the third fiscal quarter and its performance proved to be impressive. Accuray managed to generate earnings of $.03 per share for the quarter, which beat analysts’ estimates of losses of $.03 per share.
In the prior-year period, the company had suffered losses of $.01 per share. Revenues for the period came in at $99.55 million, and that was higher than analysts’ estimates by 3.21%. ARAY stock rallied by 22% on Tuesday.
Penny Stocks With Unusual Move This Week #2 Creative Realities
On the other hand, Creative Realities (CREX) proved to be another major mover from among penny stocks on Tuesday. The rally in the stock came about after the company made a major announcement with regards to a product. Creative Realities unveiled a fever detection kiosk that is powered by artificial intelligence.
The company also published a press release regarding the product. It created a lot of optimism in the markets regarding the company, and CREX stock soared by as much as 308% as investors piled on to it.
Penny Stocks With Unusual Move This Week #3 Oncolytics Biotech
Those who are interested in tracking the major gainers among penny stocks on Tuesday could also consider putting the Oncolytics Biotech (ONCY) in their watch lists. There was no material news regarding the company on Tuesday, but earlier on in the month, Oncolytics provided an update on the impact of the coronavirus pandemic on its operations.
The company revealed that there had been no impact on the development of its product pelareorep and Oncolytics went on to assure that it will be able to supply the product for all clinical studies. On Tuesday, ONCY stock surged by 27%.
Penny Stocks With Unusual Move This Week #4 Workhorse Group
Workhorse Group (WKHS) emerged as another major penny stock gainer yesterday after a bullish report from Roth Capital Partners. Analyst Craig Irwin said that the electric delivery vehicle manufacturer could be awarded the coveted delivery vehicle contract by the United States Postal Service later this year. Irwin gave it a buy rating and set the target price at $4 a share. WKHS stock rallied by 18%.