Many stocks are trading lower on May 1, and that includes a handful of NASDAQ penny stocks.
Here are four.
4 NASDAQ Penny Stocks Trading Lower: Second Sight Medical Products, Inc. (NASDAQ:EYES)
Second Sight Medical Products, Inc. is an American company that develops, manufactures, and markets implantable visual prosthetics, all of which are designed to deliver an artificial vision to blind individuals.
On May 1, Yahoo Finance reports that EYES stock is down 14.29% at $1.14, as of 2:21 p.m. EDT.
On March 19, the California-based company released its Q4 and full-year 2019 financial results. Chief Operating Officer Pat Ryan highlighted in the report that its development work on the Argus 2s had finished. Ryan also noted that Second Sight Medical Products received FDA conditional approval, in addition to CE Mark Certification, for these new wearables.
Furthermore, gross profit for Q4 came in at $0.4 million. For perspective, gross profit for Q4 of 2018 was $0.2 million.
The next announcement came on April 30, when Second Sight disclosed the pricing of a public offering of common stock. The company said it plans to use the net proceeds from this offering for working capital and general corporate purposes.
4 NASDAQ Penny Stocks Trading Lower: ViewRay, Inc. (NASDAQ:VRAY)
ViewRay, Inc. is an Ohio-based company that designs and markets radiation therapy systems, including MRIdian.
On May 1, Yahoo Finance reports that VRAY stock is down 8.89% at $1.895, as of 2:34 p.m. EDT, making it the second on our list of NASDAQ penny stocks trading lower on Friday.
At the end of April, ViewRay, Inc. reported its financial results for Q1 2020. Highlights include that total revenue came in at $14.3 million, while the company received four new orders for its MRIdian systems, which came to a total of $22.6 million. Additionally, the total backlog was $230.8 million, and cash and cash equivalents were $190.2 million.
“As we manage in this challenging environment, we are focused on what we can control. Value creation lies in driving our clinical, innovation and commercial pipeline while enhancing efforts to conserve capital,” said CEO Scott Drake.
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4 NASDAQ Penny Stocks Trading Lower: Predictive Oncology Inc. (NASDAQ:POAI)
Predictive Oncology Inc. is a biotechnology company that applies data and artificial intelligence to personalized drug and medicine discovery. It serves customers worldwide.
On May 1, Yahoo Finance reports that POAI stock is down 1.35% at $1.46.
While Predictive Oncology Inc. is among the NASDAQ penny stocks trading lower on Friday, InvestorsObserver does report that POAI stock has increased around 16% over the past week. It also has a Bullish rating from its Sentiment Indicator.
4 NASDAQ Penny Stocks Trading Lower: NN, Inc. (NASDAQ:NNBR)
NN, Inc. is an American global diversified industrial manufacturer of high-precision metal, in addition to plastic components and assemblies.
On May 1, Yahoo Finance reports that NNBR stock is down 14.06% at $2.96, as of 2:04 p.m. EDT.
On April 16, NN, Inc. announced that it had adopted a limited duration rights plan. A few weeks earlier, the company withdrew its full-year 2020 financial guidance.
Takeaway
Maybe things will turn around for these NASDAQ penny stocks next week. It’s a volatile time on the market, so there are no guarantees. What is clear, however, is that they are trading lower on the first of the month.
Featured image: PixaBay
