Why the 6 Hot NZX Penny Stocks are in Green

Summary

  • Me Today announces a modification in its share registry to Computershare.
  • Metro Performance Glass delivers handsome FY21 results, with the intention to resume dividends.
  • Savor well positioned for future strategic growth.

Penny stocks have always enticed small-time traders and investors due to their low price, and they have the potential of being multi-baggers.

Being considered as a hit-or-miss investment option, venturing in penny stocks can be unpredictable, yet pretty rewarding at times.

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With this background, let us catch up with the 6 NZX-listed penny stocks which traded in green today.

Me Today Limited (NZX:MEE)

The health and wellness brand, Me Today Limited, has notified a change in its share registry to its stakeholders.

Its management will migrate to Computershare Investor Services Limited from the previous LINK Market Services Limited w.e.f. 4 June 2021.

On 1 June, Me Today closed the market session in green, climbing by 3.26% at NZ$0.095.

Recommended Reading: 4 Hot Penny Stocks Under $1 That Investors Can’t Ignore

Marlborough Wine Estates Group Limited (NZX:MWE)

Located in Marlborough’s Awatere Valley, Marlborough Wine Estates Group Limited recently announced the completion of its 2021 harvest.

Its chief winemaker, Jeff Clarke considered the 2021 yield to be one of the best in the last 10 years, as the dry weather from December to March has optimally ripened the vintage and maximised its quality.

On 1 June, Marlborough Wine Estates Group closed the market session in green, up by 3.64% at NZ$0.285.

Also Read: How Is NZ’s Wine Industry Preparing for Winter Season? Look at 3 Related Stocks

Metro Performance Glass Limited (NZX:MPG)

New Zealand’s leading glass suppliers, Metro Performance Glass Limited, has delivered a spectacular FY21 performance in the otherwise competitive NZ market, with the revenue of NZ$179.8 million and EBIT of NZ$19.4 million, despite being affected by the COVID-19 pandemic.

The Company has considerably reduced its debts by 28%, thereby strengthening its financial position towards the year end.

MPG hopes to resume its dividends along with the interim results for FY22.

On 1 June, Metro Performance Glass closed the market session flat at NZ$0.420.

Must Read: Are These 6 Interesting NZX Penny Stocks The Cream Of The Crop?

Cannasouth Limited (NZX:CBD)

Operating as a biopharmaceutical research company, Cannasouth Limited aims to develop cannabinoid therapeutics to improve patients’ health and life conditions.

It recently declared the resignation of its Independent Director, Mr Conor English, effective by the end of June 2021.

On 1 June, Cannasouth closed the market session in green, rocketing by 5.38% at NZ$0.490.

Also Read: Which of These Six Stocks Rose or Fell on the NZX Today?

Cooks Global Foods Limited (NZX:CGF)

NZ’s food and beverage supply group, Cooks Global Foods Limited, has released its preliminary annual results for the year ended March 2021, wherein it has disclosed the Company's cash flows to be NZ$1.2 million in contrast to the preceding year’s NZ$0.2 million.

The acquisition of Triple Two Coffee business in 2020 has added scale to the Company’s business operations.

However, its group revenue decreased to NZ$3.1 million and net loss before tax was recorded at NZ$3.6 million due to the disastrous effects of the coronavirus pandemic.

With a prudent cost management approach, CGF is well positioned for future profitability.

On 1 June, Cooks Global Foods closed the market session in green, surging by 8.57% at NZ$0.038.

Read: 6 NZX Stocks That Flourished And Dwindled Today- BIT, BRM, CGF, BLT, RUA, CDI

Savor Limited (NZX:SVR)

NZ’s prime hospitality group, Savor Limited, has delivered a sustained performance for FY21. Its operating earnings stood at NZ$1.8 million, with cash flow at NZ$1.6 million during the reporting period.

As a result of the divestment of Moa Brewing Company and the acquisition of the three Hipgroup venues along with the cash position of NZ$7 million towards the year-end, SVR is well positioned for future strategic growth and acquisitions.

On 1 June, Savor closed the market session in green, up by 1.52% at NZ$0.200.

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