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Summary
- Uxin stock (NASDAQ:UXIN) grew nearly 200% in the last six months, buoyed by robust growth in online deals.
- Senseonics (AMEX:SENS) gained nearly 500% in the past six months following its collaborations with Ascensia and enhanced cash flows.
- Transocean stock (NYSE:RIG) jumped over 400% in the last six months, aided by strong sales growth and prudent financial management.
While growth stocks have gone beyond most people’s price range, penny stocks throw up a different challenge altogether, especially when you are required to choose from a multitude of obscure scrips.
Penny stocks may offer both rewards and challenges to an investor. For instance, their low cost can be a powerful source of attraction, but their relative obscurity makes them a risky investment. Most small-cap companies would probably be not widely known, especially in the broader market. Hence, getting hold of information, such as their business skills or performance, could be a challenge.
Also, such details may not be readily available, at least in their early period in the stock market, posing a tremendous challenge to those looking to invest in penny stocks for a long-term hold.
However, here are three penny stocks that have generated huge interest among investors. Looking at their record growth in recent times, it’s no wonder that they may soon rule the roost.
©Kalkine Group 2021.
Uxin Ltd. (NASDAQ:UXIN)
This NASDAQ-listed Chinese company provides used car dealership services, like after-sale services, consulting, title transfer, and auto transport, etc., in mainland China. With the growing middle-class and their purchasing power, these services have become a mainstay in Chinese society. They also offer people an opportunity to manage these works without obstructing their busy schedule.
In the third quarter of the fiscal year 2021, Uxin executed transactions for over 30,000 vehicles, generating a revenue of around US$49.5 million. However, it incurred a net loss of US$26.5 million. Uxin CEO Kun Dai said that the results reflect the company’s robust growth in online deals.
The stock witnessed nearly 200% growth in the last six months. It was trading at US$2.95 per share at close on Wednesday, April 28, which was an increase of more than 45% from the previous close.
Also Read: Why Is Naked Brand (NAKD) Stock Rallying Today?
Senseonics Holdings Inc. (AMEX:SENS)
Senseonics is a successful biotechnology company based in Maryland, US. It specializes in various diabetes control and treatment products, which include Eversense and CGM systems whose data can be easily accessed through a smartphone. Given the large diabetes market in the US, Senseonics finds itself in a favorable business environment where it can continue to push its new products.
In its Q4 report, Senseonics posted revenues of around US$4 million. Besides, it raised US$175 from equity offerings in the first quarter of 2021. Presenting the report, Senseonics President Tim Goodnow attributed the positive results to its collaborations with Ascensia and enhanced cash flows.
Senseonics stocks were trading at US$2.28 per share at close on Wednesday, April 28, which was up 8.57% from the previous close. The stock gained nearly 500% in the past six months.
©Kalkine Group 2021.
Also Read: CSCW Stock: Here’s Why Little-Known Chinese EdTech Firm Is Trending
Transocean Ltd. (NYSE:RIG)
Transocean is a Switzerland-based off-shore drilling company listed on the New York Stock Exchange (NYSE). The company has 37 drilling units including 27 deep-water floaters. It is also building two deep-water drillships to strengthen its operations.
In its Q4 report of 2020, the energy company had reported revenues of US$690 million. Transocean is expected to release its Q1 earnings report for the fiscal year 2021 on May 3. The company was able to reduce losses through prudent financial management despite the weight of the pandemic. The company hopes to net US$2.7 billion in drilling revenues in the 2021 fiscal year.
Transocean stocks were priced at US$3.41 at close on Wednesday, April 28, which was an increase of 6.56% from the previous session. The stock has seen over a 400% jump in value in the past six months.
