Brenmiller Energy Ltd., Agape ATP, and Focus Universal are the 3 Penny Stocks to watch on September 3, 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.
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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 August 30, 2024 (September 2 was U.S. Labor Day). 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.
Brenmiller Energy Ltd. (BNRG) – Israel-based Brenmiller Energy offers sustainable thermal energy storage solutions. On August 30, BNRG had a Dollar Volume of $368.62 million, while its stock price skyrocketed over 140%. On Thursday, Brenmiller reported results for the first half of Fiscal 2024 and cited notable catalysts, pushing the shares higher.
BNRG is a pre-revenue company. It expects its Gigafactory to be fully functional by the end of 2024, with an annual production capacity of 4 GWh of bGen systems. The company’s project pipeline has a potential of up to $500 million in value. Moreover, BNRG stated that it has sought a private placement worth $1.05 million, at a 52% premium to the stock’s closing price on August 2. Furthermore, the company said that it is seeking ways to expand its technology to deliver cold thermal energy storage (CTES) for cooling AI data centers.
Agape ATP Corp. (ATPC) – Malaysia-based Agape ATP Corp. provides health and wellness solutions and advisory services in the domestic market. ATPC had a Dollar Volume of $203.72 million on August 30, with its share price surging by over 60%.
The share price movement seems to stem from the one-for-20 reverse stock split undertaken by the company, which became effective on August 30. The purpose of the split was to increase the market price of the common shares to comply with the minimum bid price requirement for continued listing on the Nasdaq.
Focus Universal, Inc. (FCUV) – California-based Focus Universal offers patented hardware and software design technologies for Internet of Things (IoT) and 5G. On August 30, FCUV’s Dollar Volume stood at $84.91 million, accompanied by a share price gain of 41.5%.
FCUV shares seem to have rallied on the news that founder, CEO, and Director Desheng Wang acquired a further 1.4% stake in the company. According to a regulatory filing dated August 29, Wang made multiple purchases of FCUV stock at average prices ranging between $0.17 and $0.19 apiece. Wang bought 302,100 shares of the company for $54,498. A corporate insider’s share purchases can be viewed as a sign of increased confidence in the company’s future.
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.
