4 Tech Penny Stocks to Watch Before This Week Ends

tech penny stocks

Penny stocks usually offer rewarding investment opportunities for investors who might not mind risk. If you are interested in penny stocks, there are several tech penny stocks currently offering massive potential, but the risks are equally high. Usually, penny stocks are susceptible to market volatility, and they can double or even triple in value within a short period—or plunge back the other way.

Since penny stocks trade for $5 per share or under, they can be a cheap investment to make. For instance, if you have $10,000 that you are looking to invest, you can afford to buy at least 2,000 shares of any given penny stock. Compared to large-cap tech stocks, there is a low barrier of entry for tech penny stocks. For experienced investors, tech penny stocks might be a good opportunity to make some cash.

Here are four tech penny stocks to watch:

4 Tech Penny Stocks to Watch: Himax Technologies Inc. (NASDAQ:HIMX)

tech penny stocks

After hitting lows of $1.70 last week, Himax Technologies stock is up 40% over. The company provides fabless semiconductor solutions, such as display driver integrated circuits (ICs) and timing controllers vital in electronic equipment like mobile phones, monitors, laptops, and TVs.

>> 5 Penny Stock Gainers on Coronavirus News

Recently, the company reported its third-quarter earnings, with YoY revenue dropping 12.8%. Himax registered a loss of $7.2 million in the quarter, relative to a profit of $0.9 million last year. However, the company faces a challenge of technological obsolescence, and thus, it has to innovate constantly to remain competitive.

Equally, working with some top brands means that the company has to meet stringent conditions as well as contend with squeezing for better prices for their clients.

In its report, Himax offered weak guidance because it does not see the business environment improving in the near-term, thanks to declining demand in industries using LCDs.

At the time of writing, HIMX stock is down 1.50% at $2.49.

4 Tech Penny Stocks to Watch: Gogo Inc. (NASDAQ:GOGO)

Gogo gained 405% in the past week after it topped its Q4 revenue. YoY service revenue was up 4% to $167.2 million, while equipment revenue declined 5% to $57 million because of low CA-NA and CA-ROW equipment sales.

However, the company did not issue 2020 guidance because of the uncertainty caused by the coronavirus outbreak. The COVID-19 pandemic that originated in China has spread globally, and has hit several sectors hard, including the travel segment. Usually, Gogo’s revenue relies on the usage of its services in airplanes, and the decline in travel demand is not good news for this penny stock.

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GOGO stock is trading higher by 3.50% at $2.80 in the early session on Monday.

4 Tech Penny Stocks to Watch: Ribbon Communications Inc. (NASDAQ:RBBN)

Ribbons Communications is up 10% this past week after it announced that Microsoft Corp’s (NASDAQ:MSFT) communication platform, Microsoft Teams, certified Ribbons’ portfolio of EdgerMarc Devices for Direct Routing call services. Ribbons’ portfolio comprises leading multiservice gateways, such as EdgeMarc 2900, 4800, and 6000, which enhance the transition from legacy tech to IP-based solutions.

The company has a range of innovative networking solutions supported by a variety of Session Border Controllers. The SBCs offer strong call admission control and multiple signaling protocols for enhanced traffic management. Ribbons ensures its users can connect legacy systems to the Microsoft phone system through the Microsoft-certified SBC.

RBBN stock is up another 9% this morning and is now trading at $2.33.

4 Tech Penny Stocks to Watch: Renren Inc. (NYSE:RENN)

tech penny stocks

In the past week, Renren stock gained around 50% without releasing any news, and currently, it is up 36.36% from the previous session. The company, which runs a used auto business in China through Kaixin Auto Holdings (NASDAQ:KXIN), recently released its Q1 2019 financial result. The company reported total revenue of $110.4 million, which is a 17.6% year-over-year decrease from the previous year.

Joseph Chen, the CEO and Chairman of Renren, stated that its Kaixin Auto subsidiary has witnessed its business model expand and progress in the past several years. He added that the company is planning to refine and evolve the business model to enhance market penetration and achieve profitability.

RENN stock jumped 18.50% to $0.83 in the early morning session.

Key Takeaway

Despite the coronavirus outbreak impacting various sectors, these tech penny stocks present an opportunity for investors who are risk-takers. With the right pick of tech penny stock, investors may live out this storm.

>> Read More Penny Stock News

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