NuZee, FibroGen, and Nuwellis are the 3 Penny Stocks to watch now, based on the TipRanks’ Penny Stock Screener tool. Penny stocks are defined as stocks that trade at or below $5 per piece and have a market capitalization of below $300 million.
The Penny Stock Screener helps investors scan stocks based on numerous parameters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
We leveraged the tool to pick the top three stocks that had the highest Dollar Volume as of the close on May 8, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price.
NuZee, Inc. (NASDAQ:NUZE) – NuZee is one of the premier coffee co-packing companies in the world, helping coffee companies develop within the single-serve and private label coffee category. NuZee had a Dollar Volume of $55.21 million shares on May 8, with its stock price up 5.8%. There was no specific news for the high dollar volume and share price movement, although shares are trending higher in Thursday’s pre-market trading at the time of writing. It is worth noting that the company obtained an extension until June 14 to comply with Nasdaq Listing Rules. In the case of non-compliance, NuZee could be subject to delisting.
FibroGen Inc. (NASDAQ:FGEN) – FibroGen engages in developing treatments for life-threatening conditions such as metastatic pancreatic cancer, locally advanced pancreatic cancer (LAPC), and chemotherapy-induced anemia (CIA). On May 9, FGEN had a Dollar Volume of $46.82 million while the share price fell 17.5%. FibroGen reported Q1 FY24 results on May 6, after the market close. Net loss of $0.33 per share came in better than the consensus loss estimate of $0.42 per share. Also, revenue of $55.90 million beat the consensus by a wide margin. However, investors and analysts seem unhappy with the performance, which could be because of the company’s heavy reliance on China sales, dragging down its shares.
Nuwellis Inc. (NASDAQ:NUWE) – Nuwellis is a commercial-stage medical device company offering products for the treatment of fluid overload. NUWE’s Dollar Volume was $35.51 million on May 9, accompanied by a share price drop of 1.3%. Also, shares are trading down 6.9% in Thursday’s pre-market trading at the time of writing. NUWE reported a diluted loss of $0.60 per share in Q1 FY24, better than the consensus loss of $1.06 per share. However, revenue of $1.86 million missed the consensus by a huge margin, dragging down its shares by 20.8% since May 7.
To find more penny stocks like these, you can take a look at TipRanks’ Penny Stock Screener tool. It shows a list of all penny stocks, their price movement and other vital data.
