Look at these 5 dirt cheap NZX stocks under 50 cents

Highlights

  • Penny stocks are the cheap ones trading on any exchange and have a trait of volatility.
  • Geo notified a few days ago about raising NZ$6 million from the issued ordinary shares that are priced at NZ$0.130/share through the Placement.
  • Asset Plus’ Board and Management are not expecting any material effects for it due to COVID-19-induced lockdowns.

Penny stocks are the cheap ones trading on any exchange with volatility associated with them. However, these penny stocks might prove to be helpful during a short-term trading period, though a proper study and comprehension should be done for them.

In this article, we will be looking at 5 NZX-listed stocks under 50 cents that have strong volume and energy.

TruScreen Group Limited (NZX:TRU)

A manufacturer of Cervical Cancer Screening Device, TruScreen Group Limited held its Annual Shareholders Meeting on 7 September.

During the meeting, the Company discussed FY2021 results, and the period during which, the Company was successfully listed on the ASX. It also gave a China market update where TruScreen is well established and has growing sales trend.

On 13 October, Truscreen ended the day’s trading session flat at NZ$0.061, with a volume of 582,269 shares.

Related article; TruScreen Welcomes New Board Appointee

NZX dirt cheap stocks- TRU, GEO, PHL, MWE, APL

Image source: © 2021 Kalkine Media New Zealand Ltd, data source- Refinitiv

Geo Limited (NZX:GEO)

Software solutions provider for mobile businesses, Geo Limited notified a few days ago about raising NZ$6 million from the issued ordinary shares that are priced at NZ$0.130/share through the Placement.

By 6 October, the Company had already finalised the first tranche placement of 20,276,581 ordinary shares, raising around NZ$2.6 million.

Geo noted a trading volume of 126,346 and closed the trading session on 13 October, with no change in its price at NZ$0.19.

Also read; How Are These 5 NZX Stocks Performing Today- BLT, SVR, ENS, TRU, GEO

Promisia Healthcare Limited (NZX:PHL)

A provider of quality residential care services, Promisia Healthcare Limited had concluded its quarterly covenant reporting in August.

The Company finally advised that it was in violation of one of the two banking covenants for the June quarter. It has asked to be waived off from BNZ and would notify the market of its stance in the upcoming period.

On 13 October, Promisia closed the market session flat at NZ$0.001 and noted a trading volume of 2,250,008 on the exchange.

Do read; Promisia Integrative (NZX:PIL) inaugurates Aldwins House; share price jumps 50%

Marlborough Wine Estates Group Limited (NZX:MWE)

The producer of Sauvignon Blancs, Marlborough Wine Estates Group Limited provided a report on its FY21 ended June 2021 results last month.

The Company highlighted its key events during FY21 that are as follows:

  • MWE extended its market share substantially in North and South Island along with the sales growth, while the domestic wine sales (branded) revenue surged by 45%.
  • Global wine sales (Branded) rose by 12% amid the COVID-19 trading environment.
  • Total sales revenue climbed by 5%, standing at NZ$6.7 million.
  • Net loss after tax stood at NZ$0.6 million for the year, demonstrating the effect of the reduced harvest in 2021.

Marlborough Wine last traded on the NZX, down by 3.92% at NZ$0.245, as on 13 October, with a trading volume of 1,536.  

Did you miss reading; What is driving the share price of Marlborough Wine Estates (NZX: MWE)?

Asset Plus Limited (NZX:APL)

An investor of property businesses, Asset Plus Limited provided an update to the market.

The Company notified the settlement date for the divestment of Eastgate Shopping Centre as notified in February this year. The floating settlement date is now fixed at 1 April next year.

It further added that Board and Management were not expecting any material effects for Asset Plus due to COVID-19-induced lockdowns and alert levels across the nation.

On 13 October, Asset Plus winded up the day’s market session unchanged at NZ$0.335, with a trading volume of 192,819.

Do read; What are Asset Plus’ (NZX: APL) plans for interim dividend?

Bottom Line

Dirt cheap penny stocks under 50 cents could hold great prospects but would require thorough research and a close market watch from the investors’ end.

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