Seven penny stocks that gave positive returns YTD

Highlights

  • Performant Financial (NASDAQ: PFMT) has 66.93 million outstanding shares. The stock gained 406.24% YTD.
  • KULR Technology Group (AMEX: KULR) was up-listed before starting trading on NYSE from June 7, 2021; the stock rose by 46.60% YTD.
  • XpresSpa Group (NASDAQ: XSPA) to repurchase 15,000,000 shares of its common stock outstanding. The stock grew by 60.08% YTD.

Stocks priced less than US$5 are called penny stocks. These stocks have a market capitalization of less than US$300 million. Currently, more than 500 penny stocks are listed in exchanges other than OTCs. Investors are often drawn to penny stocks because of their attractive prices. However, they come with risks due to various reasons, including their early market status.

Here we discuss seven penny stocks that gave positive returns YTD.

Performant Financial Corporation (NASDAQ: PFMT)

PFMT is a Livermore, California- based company and provides audit and analytics services. The technology company has a market capitalization of US$295 million.

It earned revenue of US$32.8 million in the June quarter of 2021 compared to US$33.79 in the same quarter of 2020. Its net loss was US$1.5 million or US$0.03 per share diluted compared to a net loss of US$7.2 million or US$0.13 per share diluted in the previous year’s June quarter.

Performant’s total outstanding shares are 66.93 million. The stock gained 406.24% YTD, and it closed at US$4.32 on Aug 31.

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HC2 Holdings, Inc. (NYSE: HCHC)

HC2 Holdings is a New York-based company, and it has an interest in life science, infrastructure, insurance, etc. Its market capitalization is US$277.8 million.

The company earned US$243.8 million in revenue in the June quarter of 2021 compared to US$181.8 million in the same quarter the previous year. The company booked a net loss of US$23.5 million or US$0.31 per diluted share against a net income of US$13.1 million or US$0.25 per diluted share in the previous year’s June quarter.

The company has a total of 77.82 million shares outstanding.

The HCHC stock closed at US$3.78 on Aug 31. It gained more than 10% YTD.

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Drive Shack Inc. (NYSE: DS)

Drive Shack is a Dallas, Texas-based company and operates a leisure and entertainment business. The company earns revenue from golf operations and food and beverage sales. Its market cap is US$252.8 million.

For the June quarter of 2021, its revenue was US$73.88 million compared to US$32.10 million in the previous year’s June quarter. The net loss was US$1.97 million or US$0.04 per diluted share compared to US$39.5 million or US$0.61 per diluted share in the same quarter of 2020.

Its total shares outstanding are 92.09 million.

The stock closed at US$2.73 on Aug 31, 2021. Its YTD return is 15.13%.

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KULR Technology Group, Inc. (AMEX: KULR)

The company is headquartered in California and develops thermal management technologies, batteries, and battery-powered applications. It has a market cap of US$223.7 million.

KULR was up-listed before starting trading on NYSE from June 7, 2021.

Its revenue for the June quarter of 2021 was US$628 thousand compared to US$201 thousand in the comparable quarter of 2020. The net loss was US$3,027 thousand or US$0.06 per share diluted compared to a net loss of US$429 thousand or US$0.01 per share diluted in the June quarter of the previous year.

It has a total of 101.70 million outstanding shares. The stock rose by 46.60% YTD, and it closed at US$2.14 on Aug 31.

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XpresSpa Group, Inc. (NASDAQ: XSPA)

XpressSpa is a New York-headquartered health and wellness firm. The airport retailer has a market cap of US$201 million. The outstanding shares of the company are 105.57 million.

Its revenue for the June quarter of 2021 was US$9,092 thousand against US$143 thousand for the same period a year ago. The net loss was US$4.47 million or US$0.04 per share diluted against a net loss of US$58.08 million or US$1.51 per share diluted in the June quarter of 2020.

On Aug 31, the company announced to repurchase 15,000,000 shares of its common stock outstanding. This repurchase is to be executed by September 2022 unless extended by the board of directors of the company.

The stock closed at US$1.87 on Aug 31, and it grew by 60.08% YTD.

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eMagin Corporation (AMEX: EMAN)

eMagin is a New York-based company and develops organic light-emitting diode and virtual imaging products. It has 72.50 million shares outstanding, with a market cap of US$187 million.

For the June quarter of 2021, its revenue was US$6.23 million compared to US$7.70 million in the corresponding quarter of 2021. The net loss in Q2, 2021, was US$0.278 million against US$2.831 million in Q2, 2020.  

The stock increased by 55.15% YTD, and it closed at US$2.58 on Aug 31, 2021.

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Charles & Colvard Ltd (NASDAQ: CTHR)

CHTR is a gemstone and diamond jewelry manufacturer based in Morrisville, North Carolina.

The company is expected to declare its fourth quarter and FY 2021 results on September 2, 2021. However, it has issued some preliminary highlights.

Its Q4 net sales increased by 120% YoY to US$9.7 million. The net sales for FY 2021 are US$39.2 million, a 34% increase YoY.

The company has a market cap of US$90 million and a P/E ratio of 27.45. Its total shares outstanding are 183.82 million. The stock rose 24.18% YTD, and it closed at US$2.86 on Aug 31.

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Bottomline

Some penny stocks have seen incredible growth over the past year. However, penny stocks can be risky given their entry-level or little-known status in the market. Investors must carefully evaluate the companies before investing.

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