TWR, MPG, TRU: 3 interesting penny stocks creating a buzz on NZX

The buzz around penny stocks refuses to die down. Many investors, including small traders and new entrants to the stock market, are drawn to these stocks as they are affordable and do not require much investment.

Also, these low-priced stocks carry potential to outperform their higher-priced peers by generating massive returns.

In the light of the given background, here are the latest updates on the three NZX-listed penny stocks investors can get acquainted with. 

Source: © Karenr | Megapixl.com

Tower Limited (NZX:TWR; ASX:TWR)

NZ’s general insurance company, Tower Limited, has revealed receiving A- (Excellent), with a stable outlook as its financial strength rating, from AM Best, the global credit rating agency. Further, the Company was also granted a long-term issuer rating as A- (Excellent), with a stable outlook.

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The said ratings mirror TWR’s strong capital position and operating performance as well as balance sheet strength, and Tower continues to focus on its long-term growth.

At the closing bell on 13 May, TWR dropped 0.73% to NZ$0.680.

Metro Performance Glass Limited (NZX:MPG)

Metro Performance Glass Limited is the country's famous manufacturer and supplier of glass products. Recently, the Company revealed that it would publish its FY22 results on 30 May.

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The result announcement will be followed by a briefing for investors, analysts and media, which can be joined by a webcast or a conference call.

At the closing bell on 13 May, MPG gained 3.57% at NZ$0.290.

TruScreen Group Limited (NZX:TRU; ASX:TRU)

TruScreen Group Limited is a medical device company focusing on the cervical cancer screening system. A few days ago, the Company disclosed getting validation for the superiority of its screening method by COGA, a China-based cervical cancer screening trial.

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The said trial, conducted on 15,661 women over a period of three years, determined TruScreen to be a simple, effective, and rapid real-time method for the screening of cervical cancer and also highlighted its superiority over alternative screening methods.

At the closing bell on 13 May, TRU declined 5.48% to NZ$0.069.

Bottom Line

Penny stock investment, though risky, can sometimes yield good returns for its investors. Hence, a wise and prudent approach must be undertaken when investing in these stocks.