7 Robinhood Penny Stocks To Buy Today For Under $ 1
Editor’s Note: This article was updated July 8 to correct Oragenics’ spelling.
When it comes to Robinhood stocks, investors are likely to think of those “meme” stocks which remain an ongoing phenomenon. But the trading app has also raised the profile of many penny stocks, not just those beloved by the Reddit crowd.
The definition of a penny stock has changed a lot over the years. Nowadays, that usually means stocks that can be bought for less than $ 5. However, the original meaning of the term referred to stocks that you could buy for less than a dollar and often for much less than that (i.e. for pennies).
These are usually small or micro-capitalization companies that hope investors will buy their potential. And although there have been notable companies that started out as penny stocks, many penny stocks are penny stocks for a reason.
With that in mind, here are 7 trend-worthy Robinhood stocks that investors can buy for under $ 1.
- Almaden minerals (NYSEMKT:UAU)
- Big panther mining (NYSEMKT:LPG)
- Superior drilling products (NYSEMKT:SDPI)
- Camber energy (NYSEMKT:IEC)
- Oragenism (NYSEMKT:OGEN)
- Cyrene (NASDAQ:CYRN)
- Inuvo (NYSEMKT:INUV)
Penny stocks remain one of the most speculative asset classes. Nonetheless, if you have room in your wallet for a bit of gambling, you can make money with penny stocks that match existing trends.
Robinhood shares to buy under $ 1: Almaden Minerals (AAU)
The first of our Robinhood shares is a Canadian mining share, Almaden Minerals. The bullish argument for AAU stock comes down to its ability to successfully launch its Ixtaca project in Mexico. With mining stocks, it’s all about the math. And the calculations of the Ixtaca project are very favorable given the current price of metals.
Currently, the project is mired in legal issues that are delaying obtaining a permit for Almaden. And this delay weighs on the stock of the AUA. A decision is not expected until the end of 2022 or even until 2023. And while a negative decision would not necessarily deal a fatal blow to the project, it would delay development for several years.
Analysts suggest Almaden could earn an after-tax net present value (NPV) of 5%, which is more than $ 800 million. Almaden currently has a market capitalization of approximately $ 69 million. If the company succeeds in securing the necessary permits, AAU’s stock price and market capitalization would likely increase significantly, which would offset the potentially high CAPEX expenses.
Big Panther Mining (LPG)
The next stock on our list is also a Canadian mining company. Great Panther Mining was trading at over 90 cents a share at the start of the year. But the company is behind on one of its key projects and is not expected to restart mining operations until at least the third quarter.
This is news that investors in mining stocks are loath to hear. Nevertheless, this news broke at the end of May. If the LPG stock has found a low, it can be an intriguing game on the way back up. The company is mining gold at the subject mine and gold prices are rising as dollar uncertainty remains high.
With that in mind, it may be best to leave Great Panther on your watch list. However, for what it’s worth, the three analysts who cover the GPL stock give it a “buy” rating with the potential for the stock to rise more than 200% above current levels.
Superior Drill Products (SDPI)
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The shift to drilling and exploration of a different kind brings us to Superior Drilling Products. Our current economic recovery is driven (at least in part) by traditional fossil fuels. And as oil prices rise, so does the plight of oil and gas exploration companies.
Superior Drilling Products has taken important steps since the start of the year. SDPI stock has grown over 58% in 2021 and almost 8% in the past month, making it a dynamic game.
The risk-reward proposition is simple. The big oil companies will generate more revenue, but this will be offset by the cost of operations. However, with a market cap of $ 24 million, SDPI stock has a chance to generate outsized gains as long as there is a strong demand for oil. And analysts believe this is likely to happen, with expected turnover grow 40% in this quarter and 57% in the following quarter.
Camber energy (IEC)
Camber Energy is another of the Robinhood stocks that operate as an energy penny stock. The catalyst for Camber Energy’s growth was the announcement of its merger with Viking Energy Group (OTCMKTS:VKIND).
Arch already holds a 62% stake in Viking Energy. And Viking just posted a strong quarter with over $ 10 million in revenue. At the time of this writing, no date has been set for the merger to be finalized.
Penny stocks that trade below $ 1 may be at risk of delisting. And so, despite the positive rise in CEI shares received following the merger announcement, it gave up most of the gains after receiving a radiation warning at the end of May.
However, with oil prices climbing to $ 75 a barrel, it looks like investors are taking an interest in the stock again: CEI stock rose more than 10% last month. Traders should exercise caution when opening a position given a recent spike in short interest in the stock.
If you still have some curiosity about the future of Covid-19 vaccines, you might want to make a speculative bet on Oragenics. This small-cap biotech company has a Covid-19 Terra CoV-2 vaccine candidate that contains an adjuvant which could increase the effectiveness of the vaccine while still being able to deliver a lower dose.
The risk-reward setup for this penny stock is fairly straightforward. If a significant percentage of Americans are still unvaccinated, Oragenics may have the opportunity to come up with an alternative that may alleviate some of the current concerns. It is less clear whether Terra CoV-2 would be a potential alternative to the booster vaccine for people who have already received an existing vaccine, but it is a possibility.
At this time, Oragenics does not have other products in its pipeline, so there may be a significant risk if Terra CoV-2 does not receive FDA approval once it has passed the phase. clinical trial.
OGEN stock is up 31% for the year so far.
Cybersecurity will be an investment theme for the next decade. And a major catalyst will be remote work. While what the remote / desktop balance will look like remains unknown, you can be sure that information security will be the top priority. And Cyren, headquartered in McLean, Va., Provides the email security and threat intelligence solutions businesses are looking for.
So far in 2021, we have seen the importance of the type of services Cyren provides. The series of cyber attacks that began in March revealed emails and other communications information to several government agencies.
But I caution investors who are considering jumping on CYRN stock. You are probably alone. While penny stocks typically attract only a small fraction of institutional investor interest, Cyren doesn’t get any attention at all.
CYRN shares are down 31% over the year. However, it has risen over 11% in the past month, suggesting the stock may have bottomed out.
The last of the Robinhood titles to make my list is Inuvo, a play about the artificial intelligence (AI) industry. The company delivers AI-powered business solutions through its IntentKey, a programmatic multimedia solution powered by patented, proprietary audience data generated by AI. Patented technology gives brands the ability to reach incremental audiences generating more high quality leads.
At the end of February, Inuvo announced an agreement between the subsidiary Vertro and Alphabet Google (NASDAQ:GOOGL). This will allow the business to use Google’s WebSearch service and AdSense for searches on certain websites.
Although the INUV stock didn’t keep that move above $ 1, it is still up 100% in 2021. And although the stock is lightly hedged by analysts, both analysts give it a buy note with a consensus price target of $ 1.75 which would be a gain of over 86% from its current price.
At the time of publication, Chris Markoch had (directly or indirectly) no position in any of the titles mentioned in this article. The views expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
Chris Markoch is a freelance financial writer who has covered the market for seven years. He has been writing for InvestorPlace since 2019.
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