New Zealand’s 5 Penny Stocks Drawing Investors’ Attention- AFC, BRM, GSH, SVR, ACE

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Penny stocks are the ones that usually trade at less than $1, hence they appear quite attractive for investment. Being volatile in nature, investments in these stocks are highly speculative and involves risk.

However, it may prove a boon to some investors if invested wisely, and rake in the moolah.

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With this background, let us have a glance at 5NZX penny stocks worth looking out for in March 2021.

AFC Group Holdings Limited

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AFC Group Holdings Limited (NZX:AFC), declared its half-yearly financials for the year ended 30 September 2020 on 30 November, last year.

The Group reported a Gross Profit Margin of 10% during the said period. Its revenue was recorded at $288 thousand, and its liquidity stood at $19 thousand. The Group’s net assets were valued at $2,246 thousand, down 12% as compared to 31 March 2020. Further, AFC saw a net loss of $317 thousand in the reported six months period.

Inspite of COVID 19 related challenges, AFC Group, remains focused and continues to work diligently. In November 2020, it had participated in China International Import Expo, thereby attracting good on-site sales and customers. It had worked with China Anhui Import Food Industrial Park and Skykiwi to launch all the products through “EFOODLINE”, a B2B2C global food-eCommerce platform.

ALSO READ: Are these 5 NZX Penny Stocks Gaining Investors' Attention- RAK, AFC, APL, BLT, BFG?

AFC last traded flat at $0.001 on NZX.

Barramundi Limited

The investment company, Barramundi Limited (NZX:BRM) released a monthly update.

As the global tempo for COVID-19 vaccine roll-out continues to build, BRM shares were priced at $0.98, as on 28 February 2021.  The Company notified 0.7% as gross performance loss and 0.8% as an adjusted NAV loss in February 2021. Further, a warrant price of $ 0.20 was recorded during the said period, while premium was recorded at 31.2%.

ALSO READ: Why Are These Stocks Gaining on NZX- BRM, FWL, AIR, AMP, ARB?

On 15 March 2021, at the time of writing, BRM traded flat at $0.970.

Good Spirits Hospitality Limited

One of the leading hospitality companies, Good Spirits Hospitality Limited (NZX:GSH) had recently announced its half-year financial statements ended 31 December 2020.

The deadly pandemic affected the Company’s revenue and profitability. GSH reported $1.6 million as net cash from operations as compared to $2.6 million in 2019. Its unaudited net loss after tax was $121k for the said six months period.

Further, the Company had acquired 3 venues in Wellington’s CBD for $3.4 million in February 2021, as part of its growth strategy.

On 15 March 2021, at the time of writing, GSH stock was down by 1.28% at $0.077.

Savor Limited

Another, NZ based leading hospitality company, Savor Limited (NZX:SVR), recently announced its acquisition of well-known Hipgroup venues: Amano, Ortolana and The Store, as a part of its business expansion strategy.

The asset acquisition resulted in the Company paying cash of $7.15 million and ordinary shares worth $1 million in SVR on the completion of the deal, plus, a deferred cash payment of $2.85 million, which is to be paid in a year after the completion of the deal. The transaction is expected to be concluded by 8 April 2021.

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With this acquisition, SVR’s EBITDA will be recorded at ~$3 million, and the Group is anticipated to have $7 million as cash in hand to support its future growth.

On 15 March 2021, at the time of writing, SVR traded flat at $0.220.

Ascension Capital Limited

Ascension Capital Limited (NZX:ACE) announced its half-yearly reports ended 30 September 2020.

During the reported 6-month period, the Company issued 333,177,621 ordinary shares at a value of $0.00025 per share. Further, it raised additional capital of $62,250.

The Company reported $69,825 as a loss after taxation during the said period. Also, ACE is focused on identifying appropriate business opportunities through a reverse takeover transaction.

The net cash flows from operating activities were recorded at a loss of $83,345. The cash and cash equivalents at the end of the period was noted at $15,629.

ALSO READ: How the star of Ascension (NZX: ACE) descended, and why its stocks rose

On 15 March 2021, at the time of writing, ACE was trading flat at $0.001.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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