Over the course of the past months, certain penny stocks have continued to generate handsome returns for investors despite the overall turmoil in the markets. That being said, it should be noted that one needs to be thorough with research since, at the end of the day, penny stocks can be highly volatile. Here is a quick look at four penny stocks that could be added to the watch lists at this point.
Top Penny Stocks to Watch #1 Dynagas LNG Partners
One of the penny stocks to consider tracking today is that of Dynagas LNG Partners (DLNG). The company, which is based out of Greece, announced its financial results for the first quarter late Thursday, and the performance impressed the markets.
The company generated a net income of $7 million, which works out to earnings per share of 11 cents. Dynagas managed to beat Wall Street analysts’ estimates of earnings of 9 cents a share, and the share soon rallied. That stock rallied by as much as 62% in the pre-market session on Friday.
Top Penny Stocks to Watch #2 Adamas Pharmaceuticals
Adamas Pharmaceuticals (ADMS) is another penny stock that made major gains yesterday after a significant development. Yesterday, the United States Food and Drug Administration accepted its product Gocovri for review with regards to the treatment of OFF episodes in patients suffering from Parkinson’s disease.
The action data has been set for February 1, 2021, by the FDA. It is a significant development for Adamas, and the news was welcomed by investors as well. The stock rallied by 21% on the back of the news in the pre-market session.
Top Penny Stocks to Watch #3 Plug Power
Hydrogen fuel cell market Plug Power (PLUG) has been one of the more interesting companies in recent times, and on Thursday, it emerged as one of the major penny stock gainers. Yesterday, it emerged that Barclays Capital initiated coverage on the Plug Power stock and rated the stock as ‘overweight.’
Additionally, the bank set the target price for the stock at $7 a share. Barclays described Plug Power as one of the leading operators in the renewable energy space. The stock rallied by as much as 20% yesterday, and investors could do well to keep an eye on it.
Top Penny Stocks to Watch #4 Luckin Coffee
Chinese coffee chain Luckin Coffee (LK) also made significant gains on Thursday and continued to rally after having plunged some time back. There was no news regarding the company yesterday.
However, it is believed that following its plunge following revelations of fraudulent activity, many investors now feel able to invest in the stock. On Thursday, it gained as much as 29.1%.