5 NZX penny stocks that can be explored in October

Highlights

  • TruScreen announced 36% YTD sales growth, COGA evaluation completion.
  • GMT certification announced by Rua Bioscience.
  • Special dividend offered by MHM automation.

Penny stocks are feasible investments for those who are willing to take calculated risks in return for investment. Often thought of as unpredictable and risky investments, penny stocks have immense potential when it comes to lucrative returns. Have a look at a few such examples for October 2021.

NZX Penny stocks – TRU, BL, RUA, MHM, ALF

Image source: © 2021 Kalkine Media New Zealand Lt; data source: Refinitiv

TruScreen Group Limited (NZX:TRU)

Offering accurate screening solutions in remote settings, TruScreen is known to detect the presence of potentially cancerous tissue.

In its latest newsletter presented for August 2021, the company showed YTD sales growth of 36%, International Experts Group Establishment, and the conclusion of its COGA evaluation besides other updates.

On 29 September 2021, at the time of writing, the Company traded down by 1.67% at NZ$0.059.

Don’t miss: Will Rua Bioscience’s (NZX:RUA) growth strategies pay off well?

Bliss Technology Limited (NZX:BLT)

This company is the creator of various probiotics which are used in healthcare.

Recently, the Company announced performance share rights to several senior management and leadership personnel. This will give them the option of receiving ordinary shares in the organisation, which can be used in the case of vested performance rights.

On 29 September 2021, at the time of writing, the Company was trading flat at NZ$0.065.

Rua Bioscience Limited (NZX:RUA)

This organisation deals in the creation of medicinal cannabis products.

Lately, the Company announced its GMT certification received from Medsafe, which will enable it to manufacturer cannabinoid oil as its first product. Rob Mitchell, the CEO of the company, said it was a significant milestone which would help in the manufacture of many products in the future.

On 29 September 2021, at the time of writing, the Company was trading at NZ$0.42, up by 1.20%.

Don’t miss: What are 5 small-cap NZX stocks examples?

MHM Automation Limited (NZX:MHM)

This company offers construction and supply of different equipment and systems for logistics and global food processing industries.

After achieving good annual results despite uncertainties last year, the Company announced a special dividend of 1.5 cps, with 15 September 2021 as its record date.

On 29 September 2021, at the time of writing, the Company traded flat at NZ$0.620.

MHM Automation announces Special Dividend - NZX, New Zealand’s Exchange

Allied Farmers Limited (NZX:ALF)

This company has decades of experience in livestock trading.

In its annual results for the period till 30 June 2021, the company announced a net profit before tax of NZ$2.481 million and 126% earnings growth. The results showed improvement from previous year’s uncertainties brought about by COVID-19 and the drought.

On 29 September 2021, at the time of writing, the Company traded flat at NZ$0.630.

Don’t miss: Do penny stocks ever go big? A glance at 10 related NZX stocks

Bottom Line

Penny stocks could be volatile but trade at a cheap price. These stocks could also prove hit or a miss subject to the market conditions.

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