Most investors are preparing for the earnings season to kick off tomorrow. But before the financial world sees changes that could make or break several companies due to the effects of the coronavirus, we’re going to look at some positives today, like the penny stock gainers today.
Here are five penny stock gainers to watch on April 13.
5 Penny Stock Gainers: U.S. Well Services, Inc. (NASDAQ:USWS)
Despite announcing last month that, due to the decline in oil prices, U.S. Well Services is taking several corporate and operating cost-cutting measures, USWS stock jumped Monday, up nearly 20%. These initiatives aimed to align the company’s expenses with client activity levels better.
At the time of writing, shares are up around 17% at $0.61 on the Nasdaq. According to Finviz, USWS stock has a float of 35.96 million on April 13.
On April 8, U.S. Well Services disclosed that it executed a long-term contract to supply electric hydraulic fracturing services for EQT Corporation. Many analysts are now, as of April 13, forecasting that USWS stock will gain around 652% over the next 12 months. These same analysts have given the stock a Buy rating.
5 Penny Stock Gainers: NeuroMetrix, Inc. (NASDAQ:NURO)
A healthcare company, NeuroMetrix develops and markets products for the diagnosis and monitoring of peripheral nerve and spinal cord disorders.
At the time of writing on Monday, NURO stock is up around 39% at $1.85. FinViz notes that the stock was up higher, roughly 50%, at one point during the trading day, however.
Shares of NURO have seen some significant gains this month, after having what many considered a dodgy run on the market. On April 1, NURO stock jumped almost 34% on no specific news.
Something similar happened Monday, with the company’s only recent announcement being that the NURO annual meeting of shareholders will be virtual, a direct response to the health concerns surrounding COVID-19.
5 Penny Stock Gainers: Pacific Drilling S.A. (NYSE:PACD)
Pacific Drilling is an offshore ultra-deepwater drilling company that, in addition to adapting to the coronavirus pandemic and market fluctuations, has had more poor news delivered this year.
On April 7, Pacific Drilling disclosed that it had received a warning from the New York Stock Exchange as it did not meet the minimum share price standard for continued listing on April 6. (The 30-trading-day average closing price per share of PACD’s common shares was below $1.)
Pacific Drilling has six months to regain compliance, and the company has already made sure the public (and the exchange) knows that it plans to fix the share price deficiency.
>> Top 5 Hot Penny Stocks to Watch
On April 13, PACD stock is up 10.10% at $0.72, according to Yahoo Finance. At one point, however, Finviz noted the stock up around 8%, indicating higher movement throughout the session. Still trading below $1, we know the company still has a ways to go, but we can at least add it to the list of Monday’s penny stock gainers.
5 Penny Stock Gainers: Valaris plc (NYSE:VAL)
Based in London, United Kingdom, Valaris plc is an offshore drilling contractor.
On April 13, VAL stock was up 0.78% before closing the day up 2.15% at $0.6640, according to Yahoo Finance.
We’re not going to lie: Valaris has had a rough couple of months, and some SeekingAlpha analysts think the company could see even more headwinds. The company is, however, trying to make amends. On March 26, Valaris disclosed that it’s continuing its work to “recover or replace the blowout preventer (BOP) stack on VALARIS DS-8 following a non-drilling incident earlier this month.”
5 Penny Stock Gainers: Helix Energy Solutions Group, Inc. (NYSE:HLX)
The last addition to Monday’s penny stock gainers list is Helix Energy Solutions. It is an American oil and gas services company based in Texas and a global provider of offshore services in well intervention.
At the time of market close, HLX stock was up 11.52% at $1.84. There have been no changes in after-hours trade, as of 4:33 p.m. EDT.
As of April 13, among the analysts that have rated the stock, four have given it a Buy, while three rated it as a Hold, indicating the possibility of further growth.
Takeaway
Not every stock on this list has had a successful month or so, and the direction they take in the coming weeks should be carefully watched. Regardless, they are still penny stock gainers on Monday, so it’s worth the mention. At least we think so.
Featured image: DepositPhotos © ra2studio
