Iterum Therapeutics, Expion360, and AgEagle Aerial Systems are the 3 Penny Stocks to watch on October 29, 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 28, 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.
Iterum Therapeutics (ITRM) – Ireland-based Iterum Therapeutics is a clinical-stage pharmaceutical company focused on developing treatments for fighting multi-drug resistant (MDR) pathogens. On October 28, ITRM had a Dollar Volume of $196.54 million with its stock price falling by 23.9%.
The share price fall seems to be a reversal from Friday’s rally. On October 25, Iterum announced that it received the U.S. FDA’s (Food and Drug Administration) approval for the use of ORLYNVAH in adult women. ORLYNVAH is an oral treatment for uncomplicated urinary tract infections. ITRM shares skyrocketed 60.7% on the news.
Expion360 (XPON) – Expion360 manufactures premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications. The company is developing similar batteries for residential and industrial applications.
XPON stock had a Dollar Volume of $129.85 million, while its share price fell 1.9%. There was no specific news for XPON yesterday. The company is expected to present at the LD Micro Main Event XVII conference today in LA, California. The CEO is expected to display the company’s new home energy storage products, among other things.
AgEagle Aerial Systems (UAVS) – AgEagle Aerial provides a full suite of flight hardware, sensors, and software for commercial and government use. UAVS’ Dollar Volume stood at $116.41 million yesterday, while shares surged 19.6%.
There was no specific news for AgEagle Aerial on October 28. UAVS shares have been rather volatile since the company’s CEO issued a letter to shareholders on October 22, highlighting the company’s measures for achieving long-term value. UAVS shares have gained over 49% since October 22.
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.
