Nine penny stocks with over 100% year-to-date return to explore

Highlights

  • Rare Element Resources Ltd. (OTC: REEMF) is a mineral resource company. The stock returned 122.33% YTD.
  • Performant Financial Corporation (NASDAQ: PFMT) provides technology-enabled recovery services; the stock gave a 283.65% return YTD.
  • Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) is a resort and entertainment company. Its stock rose 108.13% YTD.

In an uncertain macroeconomic scenario, investing needs a more careful approach. Almost all sectors have seen significant business improvement this year from the previous year's chaos. Sectoral gains have improved noticeably. While larger companies are making a solid comeback, smaller companies are also making a splash in the market.

Penny stocks have a market capitalization of less than US$300 million, and their stocks are less than US$5. Thus, these pocket-friendly stocks are always on the radar for budget investors. However, these stocks also come with significant risks. 

Here we explore nine penny stocks that gave more than 100% return year-to-date. 

Rare Element Resources Ltd. (OTC: REEMF)

The Littleton, Colorado-based rare elements is a mineral resource company. It develops sites rich in rare-earth deposits for technology and defense applications.

The company owns the Beer Lodge Critical REE Project in northeast Wyoming. It also operates the Sundance Gold Project in Wyoming.

Market capitalization - US$269 million

Shares outstanding – 105.31M

Free Float – 52.75M

YTD stock return – 122.33%

The company earned no revenue in the June quarter of 2021, and the net loss was US$1.27 million for the same duration. Accordingly, the loss per share was US$0.01.

The stock closed at US$2.55 on Oct 13, 2021.

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Top penny stocks: DHI Group, Inc. (NYSE: DHX), Seanergy Maritime Holdings Corp (NASDAQ: SHIP), Lithium & Boron Technology Inc (OTC PINK: LBTI), 374Water Inc (OTC QB: SCWO), Allied Corp (OTC QB: ALID), Adamis Pharmaceuticals Corporation (NASDAQ: ADMP).

Also Read: Five hotel & resort stocks to explore as festive season nears

Performant Financial Corporation (NASDAQ: PFMT)

The company provides analytics and technology-enabled recovery services. In addition, it offers services for identification and recovery of loans and healthcare payments, state tax, etc. The services are provided on an outsourced basis to clients. The company is in Livermore, California.

Its market capital - US$227 million

Shares outstanding – 66.93M

Free Float – 53.33M

YTD stock return – 283.65%

Its revenue was US$32.84 million, and the net loss was US$1.5 million for the June quarter of 2021. The closing price of the stock on Oct 13 was US$3.63. 

Also Read: Five utility stocks under US$50 to consider in times of inflation

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV)

The resort and entertainment company offers sports and entertainment services and is based in Canton, Ohio. The company was incorporated in 2015. 

Its market capital - US$227 million

Shares outstanding – 94.99M     

Free Float – 58.02M

YTD stock return – 108.13%

The revenue and net income for the quarter ended June 30, 2021, was US$2.36 million and US$15.54 million, respectively. 

The stock closed at US$2.55 on Oct 13.

Also Read: Which companies are helping to remove carbon from the air?

DHI Group, Inc. (NYSE: DHX)

The Centennial, Colorado-headquartered company provides data insights and employment connections. In addition, it helps in connecting employers with employees through its tailored services.

Its market capital - US$248 million

Shares outstanding – 50.24M 

Free Float – 44.46M

YTD stock return – 124.77%

DHI’s revenue was US$22.76 million, and the net loss was US$30.2 million in the June quarter of 2021. The stock’s closing price on Oct 13 was US$4.7.

Also Read: US stocks close flat after inflation data

Seanergy Maritime Holdings Corp (NASDAQ: SHIP)

The international shipping company provides dry bulk marine transportation services. SHIP owns and operates large vessels like Lordship, Partnership, Leadership, etc. The company is based in Athens, Greece.

Its market capital - US$197 million

Shares outstanding – 171.59M

Free Float – 158.57M

YTD stock return – 134.38%  

For the second quarter ended June 30, 2021, its revenue and net income were US$28.9 million and US$2.0 million, respectively. The stock closed at US$1.29 on Oct 13, 2021.

Also Read: Datadog (DDOG) shakes off inflation worries, posts solid YTD gains

Lithium & Boron Technology Inc (OTC PINK: LBTI)

The OTC-listed company explores minerals like silver, zinc, lead, etc., and manufactures boric acid for consumer and industrial use. It also offers facilities to produce Lithium carbonate. It is headquartered in Da-Chai Dan, China. 

Its market capital - US$200 million

Shares outstanding – 185.99M 

Free Float – 32.57M

YTD stock return – 174.11% 

The net income for the June quarter of 2021 was US$303 thousand on revenue of US$2.18 million. The stock closed at US$1.08 on Oct 13, 2021.

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374Water Inc (OTC QB: SCWO)

The company is based in Durham, North Carolina. The cleantech company offers innovative technology waste management. It uses its engineering and scientific expertise to recover resources from waste and keep the water clean.

Its market capital - US$242 million

Shares outstanding – 98.39M

Free Float – 34.26M

YTD stock return – 134.52%

The company generated revenue of US$14 thousand and logged a net loss of US$1.87 million for the quarter ended June 30, 2021.

The SCWO stock closed at US$1.97 on Oct 13.

Also Read: UnitedHealth (UNH) raises guidance on strong Q3 growth, revenue up 11%

Penny Stocks: Rare Element Resources Ltd. (OTC: REEMF), Performant Financial Corporation (NASDAQ: PFMT), Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV).

Source – pixabay

Also Read: Wells Fargo (WFC), Morgan Stanley (MS) Q3 profits beat estimates

Allied Corp (OTC QB: ALID) 

The Canada-based Allied Corp is a cannabis company engaged in researching, developing, and producing cannabinoid medical solutions, mainly post-traumatic stress disorder (PTSD).

Its market capital - US$169 million

Shares outstanding – 80.31M

Free Float – 18.30M

YTD stock return – 154.67%

There was no revenue for the May quarter of 2021, and the net loss was US$2.75 million. The stock closed at US$1.94 on Oct 13.

Also Read: Taiwan chipmaker TSMC's Q3 net profit jumps 13.8% on global demand

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP)

This specialty pharmaceuticals company develops and commercializes products for various diseases, including respiratory, inflammatory, allergy, and opioid overdose. It is headquartered in San Diego, California.

Its market capital - US$163 million

Shares outstanding – 148.89M

Free Float – 147.15M

YTD stock return – 126.76%

Its revenue was US$3.64 million, and net loss was US$20.37 million for the quarter ended December 2020. The stock closed at US$1.09 on Oct 13, 2021. 

Also Read: Nine inflation-protected ETFs to consider amid skyrocketing prices

Bottomline

Penny stocks are fraught with risks as they are typically smaller or new companies. Hence, investors must analyze the company fundamentals thoroughly before investing.

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