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Highlights
- The stock market has been exceptionally volatile in recent times due to the ongoing war between Russia and Ukraine.
- Penny stocks are risky investments, but they offer returns above the market average.
- With a market cap of under £100 million, penny stocks are essentially traded at a price of less than £1.
The stock market has been exceptionally volatile in recent times due to the ongoing crisis between Russia and Ukraine. Over the last week, the FTSE 100 dropped by 6.8%, marking the index’s most terrible week since March 2020.
However, on 8 March the UK government announced its plans of entirely barring oil imports from Russia by the end of this year, due to which the market sentiment improved, and the blue-chip index shot up again. The FTSE 100 index was up by 1.44% at around 12:00 PM (GMT) on 9 March.
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Even during this period of high volatility, investors are trying hard to find out ways of making profits. Making investments in penny stocks is risky in any situation. Though penny stocks are known to offer great returns to its investors, their volatile nature can make their price go either way. Thus, it is very important to conduct in-depth research about the fundamentals of the companies in which you are investing.
Penny stocks are essentially traded at a price of less than £1 and the companies offering penny stocks generally have a market capitalisation of under £100 million.
Here are 5 penny stocks that investors can look at after a close analysis of the companies.
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Harvest Minerals Ltd (LON:HMI)
The current market cap of the Australia-based mineral company, Harvest Minerals Ltd, stands at £25.92 million as of 9 March 2022. Harvest Minerals Ltd’s shares were trading at GBX 13.85, up by 1.10%, at 12:08 PM (GMT) on 9 March 2022. The AIM-listed company has given a return of 417.09% to its shareholders over the past one year as of 9 March, while its year-to-date return stands at 211.43%.
Tavistock Investments plc (LON: TAVI)
The current market cap of the UK-based investment advice firm, Tavistock Investments plc, stands at £31.37 million as of 9 March 2022. Tavistock Investments plc’s shares were trading at GBX 5.50, down by 2.22%, at 12:17 PM (GMT) on 9 March 2022. The AIM-listed company has given a return of 246.04% to its shareholders over the past one year as of 9 March, while its year-to-date return stands at 43.03%.
PipeHawk Plc (LON:PIP)
The current market cap of the UK-based tech company, PipeHawk plc, stands at £8.53 million as of 9 March 2022. PipeHawk plc’s shares were trading at GBX 24.00, up by 2.13%, at 12:38 PM (GMT) on 9 March 2022. The AIM-listed company has given a return of 192.89% to its shareholders over the past one year as of 9 March, while its year-to-date return stands at 32.93%.
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Prospex Oil & Gas plc (LON:PXEN)
The current market cap of the oil & gas investment firm, Prospex Oil & Gas plc, stands at £11.13 million as of 9 March 2022. Prospex Oil & Gas plc’s shares were trading at GBX 4.15, down by 7.78%, at 12:44 PM (GMT) on 9 March 2022. The AIM-listed company has given a return of 110.10% to its shareholders over the past one year as of 9 March, while its year-to-date return stands at 26.56%.
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Kodal Minerals plc (LON: KOD)
The current market cap of the mining & exploration firm, Kodal Minerals plc, stands at £38.00 million as of 9 March 2022. Kodal Minerals plc’s shares were trading at GBX 0.25, up by 5.21%, at 12:47 PM (GMT) on 9 March 2022. The AIM-listed company has given a return of 180.33% to its shareholders over the past one year as of 9 March, however its performance has gone down recently with its year-to-date return standing at -17.21%.
