5 Top Penny Stocks To Watch With News Before Next Week
Penny Stocks With News Today
Penny stocks are some of the most exciting assets to trade if you know what you’re doing. There’s no secret that they’ve got a higher risk profile than your average stocks. But you can’t argue with the fact that on any given day, you’ll see at least a handful surging higher. Yes, that even means if the stock market is crashing, chances are, a few stocks under $5 making new daily, weekly, monthly, or even yearly highs.
How can you find some of the best penny stocks to buy? Today we look at a few companies making big moves early after releasing headlines this week. Company news can become a significant catalyst, and it’s essential to understand that different events can spark longer- or shorter-term trends. That’s usually up to the market, in general.
Sometimes headlines that appear to have a minimal fundamental impact can spark rallies that last for days. On the other hand, some of the biggest headlines might fall on deaf ears for several reasons. Here are 5 penny stocks with news that may be worth a closer look in the stock market today.
Penny Stocks To Watch
- Aeglea Biotherapeutics Inc. (NASDAQ: AGLE)
- Perpetua Resources Corp. (NASDAQ: PPTA)
- Data I/O Corp. (NASDAQ: DAIO)
- 8X8 Inc. (NYSE: EGHT)
- Geron Corp. (NASDAQ: GERN)
1. Aeglea Biotherapeutics Inc. (NASDAQ: AGLE)
The biotechnology company Aeglea BioTherapeutics focuses on treatments for metabolic diseases. Earlier this month, news that dosing in the third cohort of its pegtarviliase Phase 1/2 trial is underway. The therapy is under evaluation in treating Classical Homocystinuria. This news brought excitement to the stock but not as much as some hoped.
AGLE Stock News
Today, however, is a much different story. Yesterday, Aeglea hosted a Key Opinion Leader webinar that seems to have sparked some bullish momentum in AGLE stock. Compounding on the momentum, new analysts’ ratings came out during premarket hours with two upgrades. Wells Fargo lifted its Equalweight rating to Overweight & boosted its $1.50 target to $2. Piper Sandler raised its AGLE stock forecast and rating as well. The firm now has an Overweight from Neutral and a $1.50 target, up from $1.
2. TAL Education Group (NYSE: TAL)
China-based company stocks have been a mixed bag recently. However, TAL Education and other EdTech stocks have weathered the storm for now. TAL provides smart learning solutions in China. Its stock is also taking up a brighter spotlight thanks to earnings season being in full swing.
TAL Stock News
This week TAL announced second-quarter financial results. It beat earnings per share estimates of $0.01 after reporting an EPS of $0.04. Sales of $294.06 million also beat estimates. Wall Street expected the company to do $242.62 million.
Our business has shown a healthy momentum in this quarter. We will continue to invest in learning services, learning content solutions, and learning technology solutions to lay the foundation for long-term growth…We recently announced our new mission of ‘to empower life-long growth with love and technology’ and our new vision of ‘to become an organization driving continuous innovation.’ We will continue to develop our current product and service portfolio while, in alignment with our new mission and vision, exploring new initiatives in and beyond the learning solutions market,” said Alex Peng, TAL’s President & Chief Financial Officer.
3. Data I/O Corp. (NASDAQ: DAIO)
Tech stocks have also been somewhat of a mixed bag recently. Big Tech earnings have added volatility to the stock market this month. Data I/O provides security and data solutions for microcontrollers, memory devices, and security ICs.
DAIO stock began climbing after news earlier this week. The company announced improvement on its Lumen X programming platform for automotive-grade Universal Flash Memory devices with VerifyBoost technology. Anthony Ambrose, president, and CEO of Data I/O Corporation, explained, “VerifyBoost for LumenX enables our automotive customers to immediately improve their programming performance, increase production capacity and maximize their existing investment in Data I/O’s programming technology. As part of our investment protection commitment to the automotive industry, customers may include VerifyBoost on new system purchases or upgrade an existing system in the field.”
DAIO Stock News
Like other tech stocks, Data I/O also reported earnings this week. On Thursday, after the close, the company posted its Q3 results and significantly beat earnings per share estimates. Data posted an EPS of 10 cents per share, while analysts expected a loss per share of 8 cents. It also beat sales estimates after reporting $7.21 million compared to the $6.11 million expected.
Management explained that factories in the U.S. and China are “back on track and running at normal capacity.”
4. 8X8 Inc. (NYSE: EGHT)
Another one of the technology stocks making a move higher in the stock market today is 8X8 Inc. The company provides cloud communications platforms to its clients. Its 8×8 XCaaS (eXperience Communications as a Service) is a multi-format platform including voice, video, chat, and SMS built into one cloud system.
EGHT Stock News
8×8 reported second-quarter earnings results for its fiscal 2023. It managed to beat EPS and sales estimates. “Our second quarter results reflected our increased emphasis on profitability and cash flow generation. Non-GAAP gross margin was above 70%, and non-GAAP operating profit and operating cash flow exceeded our expectations,” said Dave Sipes, 8×8 Chief Executive Officer. “As a result, we are once again raising our non-GAAP operating margin targets for the year and believe we have line of sight to double-digit operating margins on a non-GAAP basis in fiscal 2024.”
5. Geron Corp. (NASDAQ: GERN)
Biotechnology company Geron Corp has maintained a stronger uptrend in the market over the last few months. The company has a few Phase 3 trials in myelodysplastic syndromes and myelofibrosis.
GERN Stock News
This week Geron received new analyst coverage from Wedbush. The firm started Geron with an Outperform rating and a $5 price target. The rating also comes before Geron reports third-quarter earnings results on November 4th.
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Originally published at https://pennystocks.com on October 28, 2022.