Best Penny Stocks For November 2021

Best Penny Stocks 2021

Traders that invest in high-quality penny stocks will frequently have to exercise a lot of perseverance. Experts often have to wait up to eighteen months after selecting a low-priced stock that has the makings of becoming a winner, to determine whether or not their prediction was accurate. While you may find some penny stocks soaring immediately, others may test your patience to the limit. As long as you’ve done your homework and listened to your instincts, you’ll almost always be rewarded for your perseverance. Following is a list of the best penny stocks investors should target for November 2021.

Entravision Communications (EVC)

With a 108 percent gain in only six months, Entravision Communications Corporation (EVC) continued to roll along in October. 

The market clearly adores Entravision. Three quarters of triple-digit revenue and earnings growth has made EVC everyone’s favorite. Moreover, numerous technical indicators indicate that it is definitely one of best penny stocks for November 2021 and worth getting your hands on.

However, it is important to keep in mind that EVC’s third-quarter earnings might derail the group’s progress should they miss consensus projections. While that scenario is unlikely, it is believed that the shares will rapidly rebound in the case in case the company fails to meet third quarter forecast.

Gold Resource (GORO)

Gold Resource Corporation (GORO) has risen 17% over the past month. Gold and silver miners are grossly undervalued. It is predicted gold prices will rise given the fact that there’s a lot of skepticism about the global economy. 

GORO’s recent excellent quarterly sales and EPS growth in the triple digits, indicates that there are much more gains to come.

Alto Ingredients (ALTO)

Alto Ingredients, Inc. (ALTO) has risen between 7% and 25% since the start of October. A substantial price increase without any fresh corporate news raises a warning signal. Unless the firm comes up with some compelling news soon investors, will start to take profits and the stock might fall sharply.

Overall, Alto Ingredients has significant potential, given its solid turnaround strategy and good financials, which is why it is one of best penny stocks for November 2021. However, short-term volatility is possible until management re-engages shareholders.

Talkspace, Inc. (TALK)

Mental health or addiction treatment can be expensive. Talkspace, Inc. (TALK), however, makes Cognitive Behavioral Therapy (CBT) affordable.

But the corporation is bleeding cash, losing $70.40 million in Q3 of 2021. The market on the other hand is very competitive, with minimal entry barriers.

External factors have played a key role in the company incurring losses. Online platforms like Google and Facebook impose exorbitant advertising fees on TALK and its competitors, thereby reducing the collective net income for equities in the industry.

But the company’s solid balance sheet (9.0 quick and current ratios, 0.0 debt to equity), P/B ratio of 0.47, and P/C ratio of 2.24, show it can endure these rising difficulties, and continues to be one of best penny stocks for November 2021.

EPS are expected to rise 60% next year, while sales have climbed 73% in the last quarter. The firm’s gross margin also looks quite strong at 63%. Technically, TALK can be considered as a stock that is oversold and ready for a trend reversal, with the RSI at 32.55.

Firms like Talkspace are the future of CBT. A period of about eighteen months may be required to see TALK’s full potential. With trust in the company’s goal and, of course, patience, the rewards might be substantial.

Denison Mines (DNN)

2021 was a great year for uranium stocks. Following a decade-long uranium bear market, quite a few investors are counting on nuclear energy as the greatest and most feasible candidate for replacing fossil fuels.

Denison Mines Corp. (DNN) has an excellent balance sheet, with revenue growth of over 58 percent in the most recent quarter. Not too long ago Denison announced plans to conduct a feasibility study in the Wheeler River region, which has high-grade uranium. This is all extremely promising.

Some may argue that uranium stocks are overhyped and that the supply crisis will resolve once facilities reopen, which may in turn lead to a drop in both prices and share prices.

What needs to be kept in mind, though, is the ten-year decline in uranium prices. The radioactive element traded at $70/pound in 2011 and is presently at $45.90. It goes without saying that prices are better than they were in October 2020. But it is believed they have a long way to go, with the potential of reaching up to $100/pound soon.

Denison Mines is a high-risk investment. It’s a corporation that hasn’t made money in five quarters. However, if you’re looking for a low-cost strategy to play the nuclear energy comeback, DNN may be a stock worth investing in.

Those were some of the best penny stocks for November 2021. We hope that this information was useful for you. A word of caution; as of the time of your reading this blog post, some of the stocks detailed herein may no longer be applicable. Remember to conduct your own research before making an investing decision. Many of the stocks listed here were obtained from third party sources. Please keep in mind that penny stocks are prone to volatility.

To track the performance of the symbols stated above and see how they are shaping up, create a watchlist here. And don’t forget to follow our Youtube channel to view useful investing videos. Thanks for reading.

 

 

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