Three NZX penny stocks racing higher today- ARB, TWL, IKE

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Three NZX penny stocks racing higher today- ARB, TWL, IKE

 Three NZX penny stocks racing higher today- ARB, TWL, IKE
Image source: Bro Crock, Shutterstock.com

Highlights

  • The S&P/NZX SmallCap Index was up 0.14% to 91,539.78 on Friday.
  • ARB, TWL and IKE are some of the penny stocks that are racing higher today.
  • Investing in penny stocks requires proper due diligence as they can be risky.

The NZ share market took a dive as investors tried to assess the impact of the Russia-Ukraine clash on the global economy, interest rates and financial markets. The S&P/NZX 50 fell 0.68% to 12,128.1 on Friday.

The S&P/NZX SmallCap Index was up 0.14% to 91,539.78. However, some of the penny stocks are rallying today, creating an impact on investors with their gains.

Let’s look at 3 NZX penny stocks that are rallying higher today.

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Trade Window Holdings Limited (NZX:TWL)

Trade Window, an NZ-based software firm providing digital solutions, has a market cap of $172 million. The stock was up 6.95% to $2 today.

DO READ: What is a Penny stock? Can it prove to be a good bet for investors?

It notified last month that it had become an authorised certifier by NZ Customer Service, bringing NZ exporters closer to access possible preferential trade tariffs. The firm can issue a certificate of origin for 14 trading partners under the Regional Comprehensive Economic Partnership (RCEP) agreement.

ArborGen Holdings Limited (NZX:ARB

ArborGen Holdings, engaged in the forestry genetics business, has a market cap of $117.8 million. The stock was up 6.82% to $0.235 today.

DO READ: NZ consumer confidence dips to lowest, will it bounce back soon?

The Group remains on pace to provide its greatest Mass Control Pollinated sales year in the US with orders nearly 30% higher than FY21. ARB expects its EBITDA to be between US$9.5 to US$10.5 million due to a lack in sales of lower margin seedlings.

ikeGPS Group Limited (NZX:IKE)

ikeGPS is a software solutions provider to measure and manage power and telecom assets. It has a market cap of $113 million and the stock was up 2.9% to $0.71 at the end of the day.

DO READ: PEB, TRU, BLT, AFT: Are these stocks flourishing amid Omicron surge?

ikeGPS saw a strong start to CY2022 and closed near $6 million in contracts for the first 7 weeks of 2021. The Company has signed a near-$600K deal with a current customer, who plans to use IKE’s platform to fast-track the evaluation and deployment of fibre network in the US.

Bottom Line

Penny stocks can attract investors’ attention due to their ability to generate high profits, However, investing in these stocks can be risky and volatile.

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

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