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7 Penny Stocks With Picks to Watch – InvestorPlace | Casual Expat

Finding buy-rated penny stocks is becoming increasingly difficult. The higher interest rates rise, the more risk-averse markets become. That means penny stocks, which are inherently riskier, are seeing their ratings deteriorate in the current environment.

A few months ago, penny stocks with buy ratings that were performing well were suddenly downgraded to a hold rating or worse. This suggests that the already risky world of penny stocks is about to become even riskier.

So it shouldn’t come as a surprise that investors are looking for buy-rated penny stocks into early September. These stocks are likely to be more stable and have better chances to rise in what is usually a difficult month for stocks. Still, let’s dive deeper into these stocks.

NNDM nano dimension $2.50
HYRE HyreCar $1.28
MNKD manchild $3.56
TBLT ToughBuilt Industries $2.37
AGENT age $2.36
NBEV New age $0.09
CORZ scientific core $1.90

Nano Dimension (NNDM)

Source: Spyro the Dragon / Shutterstock.com

nano dimension (NASDAQ:NNDM) stock has a Buy rating and has plenty of upside potential. In fact, it currently carries an average price target of $10.00. That’s enough upside to pique the interest of almost any investor looking for buy-grade penny stocks.

However, investors should be aware that Nano Dimension is rated by a single analyst.

So what does the company do? The Israel-based company offers intelligent machines for the production of additively manufactured electronics. Additive manufacturing is a term that describes a technology that creates objects by building them up layer by layer. It is also known as 3D printing.

Nano Dimensions tries to stand out from the crowd by focusing on AI, machine learning and nanoparticles, among others.

Nano Dimension is brimming with potential, as evidenced by the fact that its revenue rose 1,227% to $21.5 million in its most recent quarter. However, the company also reported a net loss of $40 million. In other words, NNDM stock will find fewer supporters in the current risk-aversion environment.

HyreAuto (HYRE)

A woman calls a rideshare on her cell phone.

Source: Maridav / Shutterstock.com

HyreCar (NASDAQ:HYRE) is a company in the peer-to-peer car sharing market. The stock has a unanimous buy rating from the four analysts with coverage. The business model allows people to rent their vehicles to ridesharing companies Above (NYSE:ABOVE) or lyft (NASDAQ:LYFT) for example.

HyreCar’s current operations are primarily focused on the most densely populated urban areas in the United States. The company caters to ride-sharing or delivery drivers who don’t own their own vehicle, as well as vehicle owners who want to earn some money from their vehicles.

HYRE stock has a lot of upside potential with a target price close to 300%. Investors should know that the company’s second-quarter revenue hit $10.5 million, up 16% year over year. Net loss for the quarter was a respectable $4.4 million. Given that the company posted a net loss of $9.3 million a year earlier, there’s reason to be optimistic about that figure.

ManChild (MNKD)

Image of the word diabetes surrounded by medical equipment.

Source: Minerva Studio / Shutterstock.com

manchild (NASDAQ:MNKD) represents a company engaged in the biopharmaceutical industry. MannKind develops therapeutics to combat lung diseases and diabetes.

There is no unanimous “buy” rating from the five analysts with coverage. One of them rates it as “Hold,” and MNKD shares have about 50% upside potential based on their valuations.

MannKind and its stock are backed by its only FDA-cleared product, Afrezza. Afrezza is a fast-acting inhaled insulin powder used to treat diabetes.

Afrezza accounted for $10.6 million of the company’s $18.9 million in revenue last quarter. The company recorded an additional $2.1 million from V-Go, a therapeutic the company recently purchased. MannKind also booked an additional $5.9 million in manufacturing services revenue for the period.

However, this resulted in a net loss of $29.023 million. Investors are very interested in MNKD because its inhalation technology is a novel therapeutic delivery method. Analysts believe the technology could see increasing demand in the future.

ToughBuilt Industries (TBLT)

A man in dirty clothes with a tool belt around his waist.  TBLT camp.

Source: Cat Act Art / Shutterstock.com

ToughBuilt Industries (NASDAQ:TBLT) stock is unanimously rated as Buy with 100% upside potential based on its price target. Note, however, that there is currently only a single rating.

Anecdotally, I can say that I’ve seen his home improvement and construction products more and more often.

The company sells tools and equipment including tool belts, knee pads, sawhorses and stands. The company is also relatively new, having been founded in 2012. So it’s trying to disrupt established names in an industry where loyalty is hard-won. Still, ToughBuilt does a pretty good job.

Revenue rose 12.8% to $17.9 million in the most recent quarter. Those strong results were tempered by a net loss of $7.4 million.

Bullish investors should consider ToughBuilt Industries’ strong e-commerce results, which included $3.56 million Amazon (NASDAQ:AMZN) revenue in the quarter.

Age (AGEN)

A variety of pills, pill bottles and droppers arranged on a table in multiple bright colors.

Source: Shutterstock

age (NASDAQ:AGENT) stock is another biopharmaceutical company with a unanimous buy rating.

The company is focused on the field of immuno-oncology, which means it develops therapies that use the body’s natural defenses to fight cancer.

The company is interesting because it offers a potential therapeutic that is effective against a specific form of colon cancer microsatellite stable colorectal cancer. However, this drug is still in phase 1 studies.

So Agenus’ potential is offset by real fundamentals, including a net loss of $49.235 million on sales of $20.926 million.

The company has a strong cooperation network that includes leading names such as Bristol Myers Squibb (NYSE:BMY), Gilead (NASDAQ:GILD), and note (NYSE:MRK) among other.

New Age (NBEV)

30 Marijuana Stocks to Buy When the Future Goes Green

Source: Shutterstock

New age (OTCMKTS:NBEV) stock has massive upside potential judging by the lone analyst with coverage. That’s because the healthcare products company’s shares trade for 9 cents, while the price target is $3.15. That’s an increase of 3,400%.

The company sells a wide range of healthcare products and also offers a brand partnership business model similar to many other healthcare companies.

The reason NewAge offers so much upside is that it’s fallen so steeply. In fact, on Sept. 8, the company announced that its shares would no longer be traded on the Nasdaq exchange after filing for Chapter 11 bankruptcy.

So it’s super risky, but if the company makes a comeback after moving to the over-the-counter market, there’s a lot of money to be made quickly.

Core Scientific (CORZ)

An image of various crypto coins imposed with binary code

Source: Have a nice day photo/Shutterstock

It’s not difficult to understand why scientific core (NASDAQ:CORZ) stock carries Buy ratings from all seven analysts covering it: The company provides carbon-neutral blockchain infrastructure and software solutions.

For the same reason, so many cryptocurrencies relying on proof-of-work protocols have led investors to switch to proof-of-stake protocols. What is perceived as greener has more benefits.

That’s what Core Scientific relies on Bitcoin (BTC USD) mining for a significant portion of its business. The company mined 3,365 BTC in the second quarter and held 1,959 Bitcoin at the end of the period.

At the time of publication, Alex Sirois had no position (either directly or indirectly) in any of the securities mentioned in this article. The opinions expressed in this article are those of the author and are governed by InvestorPlace.com Posting Policies.

Alex Sirois is a freelance contributor at InvestorPlace whose personal stock investing style is focused on long-term, wealth-building, buy-and-hold stocks. Having worked in multiple industries from e-commerce to translation to education, and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

Updated: September 19, 2022 — 5:38 pm

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