AUS
NZ
UK
CA
USA
IND
Highlights
- Penny stocks are defined as those which have a trade value of less than £1.
- Investors keep a keen eye on them due to their high risk-reward ratio.
Even as inflation showed signs of cooling off last month, dropping from 10.4% in February to 10.1% in March, a few penny stocks are showing signs of moving up the ladder. Over the past month, penny stocks have gained prominence, especially amidst the growing cost of living crisis.
Today's market participants are more concerned about saving for the essentials and refrain from spending on non-essentials. Penny stocks are defined as those which have a trade value of less than £1. Investors keep a keen eye on them due to their high risk-reward ratio.
Amid the growing inflation, let's explore three penny stocks and see how they have fared over the past month.
UK Oil & Gas Plc (UKOG)
The UK Oil and Gas PLC is a UK-based oil and gas exploration and production company. UK Oil & Gas Plc is primarily an oil and gas asset located in the Weald Basin. UKOG primarily deals with acquiring, developing, and exploring crude oil and petroleum products within the UK region. Over the past month, the FTSE AIM All-Share constituent has given its investors 19.17% returns.
The UK Oil & Gas Plc on 26 April was trading at 0.08 and was up by 5.59% at the time of market opening. The penny stock's performance over the past year hasn't been great, giving negative returns of -35.96%. UKOG, as of Wednesday, holds a market cap of £24.26 million with a Turnover (on book) of £201.25.
Gfinity Plc (GFIN)
The London-based Esports company focusses on developing and delivering esports experiences for gamers, sports rights holders etc. Owned by US-based Activision Blizzard, Inc., it was founded in 2012. GFIN earlier last month had announced that its revenue in the six months to 31 December had jumped to 26% £4.1 million from £3.3 million, on the back of strong sectoral demands towards video gaming.
Gfinity plc, as on 26 April, held a market cap of £1.83 million, with negative returns to its investors both on a one-year and on a YTD basis of -88.46% and -70.30%, respectively. GFIN's stock over the past month has witnessed healthy returns of 23.91% on Wednesday. At the time of market opening, GFIN was up by 1.75% and was trading at GBX 0.15.
Thor Energy Plc (THR)
Thor Energy Plc, over the past month, has given its investors returns of 8.58%. Thor Energy Plc is a mineral properties exploration firm operating in the UK, Australia and the US. Thor Energy Plc is an FTSE AIM All-Share constituent and has given its investors 8.58% over the past month.
However, its performance over the past year or on a YTD basis hasn't been great, with returns of -67.82% and -15.06%, respectively. The THR stock on 26 April was up by 8.33% and was trading at GBX 0.33 at the time of market opening.
