Are you new to investing? Then you may want to look into tech stocks.
The great thing about the tech industry is that it is always at the forefront. Breathtaking innovations are made every single day. So regardless of short-term market conditions, investors can trust to rely on the industry in the long run.
While certain tech ideas, execution, and fulfillment will flop and never reach the public, the few that meet the right conditions will succeed. And they may turn out to be another FAANG stock that many people missed.
That’s why we’re letting you in on some of the most favoured tech penny stocks that could be the perfect way to position yourself for Q2 (or even Q3) this year. So if you haven’t considered tech already, read on.
Top Tech Penny Stocks:
Tech Penny Stock: Meta Materials Inc. (NASDAQ:MMAT)
Meta Materials Inc. is first on the list of recommended tech penny stocks. As a platform technology company, Meta Materials designs and manufactures sustainable, highly functional materials used by global brands to manufacture products in consumer electronics, 5G communications, aerospace, and more.
This company announced on May 13 that it had been granted the first U.S. patent for its glucoWISE® non-invasive glucose sensing system and related anti-reflection metamaterial films. The patent covers anti-reflective metamaterial films, which enhance signal penetration through the skin and different sensing system configurations that collect biomarker readings from various body sites.
This critical milestone paves the way for a painless radio-wave-based glucose sensing system in the U.S., where over 30 million people have diabetes.
Investors interested in Meta Materials Inc. should keep an eye out for new patents soon, as they could help the company maximize its stock value.
Tech Penny Stock: Desktop Metal Inc. (NYSE:DM)
Second on the list of tech penny stocks is Desktop Metal Inc., a company that manufactures 3D printers as well as related equipment used to build complex parts. The company serves various industries, including automotive, consumer products, heavy industry, and more.
Together with Lumafield, the company announced on May 16 a complete solution to help manufacturers quickly and accurately produce high-demand parts with an easy system to scan and 3D print.
According to Desktop Metal’s CEO, manufacturers have always wanted to replace legacy fabrication processes with 3D printing for decades, but the digitization of parts has been a barrier. Now, with CT scanning, they have the digitization solution they need to convert old designs into complete CAD files for 3D printing.
It has earned a “Hold” recommendation from the eight brokerage firms that cover the company based on its potential. The average 12-month price target among brokerage firms that rated the stock last year is $9.
Tech Penny Stock: Sunworks Inc. (NASDAQ:SUNW)
One of the top tech penny stocks in Q2 or Q3 of 2022 to buy in May is Sunworks. The company provides solar power and battery storage solutions to customers in various industries and sectors, such as agriculture, residential, commercial, industrial, and government.
The company reported total revenue of $31.2 million for the first quarter of 2022, a $25.0 million increase compared to the first quarter of 2021.
Are there tech stocks on your radar right now? Please do share about them in the comments.
Featured Image: Depositphotos @iqoncept
