Catheter Precision, BioVie, and NuZee are the 3 Penny Stocks to watch on October 22, 2024, based on TipRanks’ Penny Stock Screener tool. Penny stocks are defined as stocks that trade at or below $5 per share 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 penny stocks with the highest Dollar Volume as of the close on October 21, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price. We can also look at the Relative Volume and Average Volume (last 3 months) to gauge how the trading volumes have been very high (showing high interest) compared to the average.
Catheter Precision (VTAK) – Catheter Precision is a medical device company focused on developing innovative technology for electrophysiology procedures for cardiac arrhythmias. On October 21, VTAK had a Dollar Volume of $161.84 million with no notable stock price movement.
Catheter Precision announced the clinical publication of non-invasive stereotactic radioablation (STAR). The technique uses external photon beams, similar to those used to treat cancer, to non-invasively target and ablate areas of the heart responsible for the arrhythmia. The high dollar volume might have been triggered by this news.
BioVie Inc. (BIVI) – BioVie is a clinical-stage biopharmaceutical company focused on developing novel treatments for liver diseases as well as neurological and neuro-degenerative disorders. Yesterday, BIVI had a Dollar Volume of $122.91 million, while its stock price jumped 11.9%.
BioVie announced the pricing of a registered direct offering of 4,443,000 shares of its common stock, with at-the-market price of $1.50 per share. The company hopes to raise roughly $6.66 million from the additional offering. Moreover, BioVie is issuing unregistered warrants to purchase up to 4,443,000 shares of common stock in a private placement with an exercise price of $1.37 per share. BIVI shares might have moved in reaction to the news.
NuZee (NUZE) – NuZee is a co-packing company that specializes in manufacturing packing materials for single-serve coffee formats for private-label coffee brands.
On October 21, NuZee had a Dollar Volume of $63.59 million, with its stock price falling 5.6%. On October 17, NuZee announced that it was expanding its global footprint with new offices in Singapore, Hong Kong, and Mainland China, and was relocating its U.S. operations from California to Florida. Shares have skyrocketed over 369% since the news.
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.
