From TRVI to TUSK, Kalkine Media explores penny stocks to watch in Q3 - Kalkine Media

September 10, 2022 05:00 AM PDT | By Rupam Roy
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  • Trevi Therapeutics, Inc. (NASDAQ: TRVI) stock jumped over 300 per cent YTD.
  • Nine Energy Service, Inc. (NYSE: NINE) reported a revenue of over US$ 142 million in Q2 FY22.
  • Mammoth Energy Services, Inc. (NASDAQ: TUSK) returned gains of about 137 per cent YTD.

Trevi Therapeutics, Inc. (NASDAQ: TRVI), Nine Energy Service, Inc. (NYSE: NINE), Houston American Energy Corporation (NYSE: HUSA), Sotherly Hotels Inc. (NASDAQ: SOHO), and Mammoth Energy Services, Inc. (NASDAQ: TUSK) are among the popular penny stocks that have gained attention from investors. However, penny stocks are highly volatile and could change their momentum at any moment.

The stocks that generally trade at or below US$ 5 are considered penny stocks. While many of these stocks trade over-the-counter, some are also listed on the primary exchanges.

Trading in penny stocks carries higher risks, as the prices are highly volatile. Any positive or negative catalysts could bump the prices or trigger a sell-off at any given time.

Although there is no benchmark for penny stocks, some investors keep track of the Russell 2000 Index, which features small-cap stocks.

The investment strategy and investors' views towards the market seem to have changed in the current year due to several macroeconomic headwinds.

Here Kalkine Media® would explore the recent performance and other fundamentals of the penny stocks for high-risk investors:

Trevi Therapeutics, Inc. (NASDAQ: TRVI)

Trevi Therapeutics stock returned gains of about 308 per cent year-to-date (YTD) while soaring over 108 per cent in the last 52 weeks. It produced gains of more than 13 per cent in the current quarter.

Meanwhile, the TRVI stock touched its 52-week high of US$ 4.68 on August 9 this year. At its current trading price, it traded about more than 580 per cent lower than its 52-week low of US$ 0.46, noted on February 23, 2022.

The total operating expenses of Trevi Therapeutics were US$ 7.82 million in the fiscal 2022 second quarter, down from US$ 9.16 million in the same quarter of the preceding year. Its net loss also improved to US$ 8.05 million in Q2 FY22, against a loss of US$ 9.79 million in the second quarter of fiscal 2021.

Nine Energy Service, Inc. (NYSE: NINE)

Nine Energy is an oil and gas services firm, and given the soaring energy prices this year, the company also seems to have gained traction in the market.

The stock price of NINE rocketed over 167 per cent this year while increasing more than 65 per cent year-over-year (YoY).

The Houston, Texas-based company posted total revenue of US$ 142.34 million in the fiscal 2022 second quarter, noting a significant surge from a revenue of US$ 116.93 million in Q2 FY21.

The net loss of Nine Energy also improved to US$ 978,000 in the fiscal 2022 second quarter, against a loss of US$ 6.89 million in the same quarter the prior year.

Houston American Energy Corporation (NYSE: HUSA)

Houston American Energy is an energy firm focusing on oil exploration and production. It specializes in producing natural gas, crude oil, and other related fields. The energy firm had a market cap of US$ 42.47 million, and its current trading price was about US$ 4.

The HUSA stock witnessed a surge of more than 185 per cent in the ongoing year while soaring more than 130 per cent in the last 12 months. In the ongoing quarter of the year, it added more than seven per cent.

Houston American Energy reported total operating revenue of US$ 1.33 million for the year ended on December 31, 2021. In the same quarter of the prior year, the firm's total operating revenue was US$ 552,345.

Also, the company reported a net loss of US$ 1.02 million for the 12 months that ended on December 31, 2021, an improvement from a loss of US$ 4.03 million in the prior year.

Sotherly Hotels (SOHO) Q2 FY22 earnings highlightsSource: ©Kalkine Media®; © Canva Creative Studio via

Sotherly Hotels Inc. (NASDAQ: SOHO)

Sotherly Hotels is a self-managed and self-administered real estate investment trust (REIT) firm. The firm holds a market cap of about US$ 87 million, and its trading price was around US$ 2.3.

The SOHO stock soared nearly ten per cent in the current year while losing about four per cent in the last 12 months. However, on a QTD basis, it gained about 30 per cent through September 8.

The company noted a significant gain in its second quarter fiscal 2022 revenue of US$ 47.17 million, against revenue of US$ 34.38 million in the same quarter of the prior year. The net income applicable to common stockholders of the Williamsburg, Virginia-based company was US$ 24.26 million, a significant improvement from a loss of US$ 2.81 million in the prior year.

Mammoth Energy Services, Inc. (NASDAQ: TUSK)

The energy services firm, Mammoth Energy, holds a market cap of about US$ 217.63 million. The stock of the energy services firm touched its 52-week high of US$ 5.2949 on August 26, 2022. However, its current trading price was about 230 per cent, up from its 52-week low of US$ 1.35 noted on March 1, 2022.

The TUSK stock gained more than 137 per cent in the current year, while its price soared over 30 per cent in one year. Its price for the running quarter added about 107 per cent.

The firm witnessed notable growth in its Q2 2022 revenue as it reached US$ 89.7 million, compared to US$ 47.4 million in the year-ago quarter.

The company's net income was US$ 1.7 million in Q2 FY22, against a loss of US$ 34.8 million in Q2 FY21.

Bottom line:

With their innovative operating model and other key potentials, several penny stocks have attracted the traders' attention in recent days. Some investors typically invest in penny stocks for higher returns in a short span, while others consider spending with a long-time view.

However, the fact cannot be denied that penny stocks carry comparatively more risks than the other equity market segments. And given the highly volatile condition of the market, investors should exercise due diligence before investing.


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