Best Tech Penny Stocks to Buy Now? 3 to Watch Today
Why are tech penny stocks climbing today? Here's 3 to watch
3 Tech Penny Stocks For Your Watchlist Right Now
Over the past year and a half, tech penny stocks have remained some of the most popular penny stocks to watch. And, there are plenty of good reasons for that. The most prominent reason for the rise of tech stocks in the past year and a half has been the pandemic.
Throughout, the public has relied on tech to solve the issues of in-person work and in-person schooling. In addition, the initial boredom of being stuck at home meant that the demand for entertaining tech products shot up dramatically.
This combined with supply issues abroad resulted in a shortage of microchips. And with the classic combination of low supply and high demand, we see that prices have skyrocketed in the last year or so. Considering this, there are plenty of penny stocks working to take advantage of this.
But, it’s not enough to simply buy a stock because it works in the tech industry, rather investors need to do all the research they can to fully understand whether it is worth it or not. This means understanding its financials, any speculative events relating to it, and what the specific industry it works in is doing. With all of this considered, making a tech-centered penny stocks watchlist can be profitable. So, here are three to keep an eye on right now.
3 Tech Penny Stocks to Watch Right Now
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a leader in the satellite communications industry. With over 30 years of experience, GSAT has taken advantage of the digital revolution in that time. Despite some ups and downs in the past few years, in June, B. Riley Analyst, Mike Crawford put a $3.25 price target on GSAT stock. This is quite a ways away from its current price of $1.38.
In the past five days, shares of GSAT stock have shot up by over 9.5% and YTD by over 300%. And recently, news came out surrounding a potentially big deal that GSAT could have in the works. The CEO of Globalstar, David Kagan, stated that “one such opportunity, in particular, is remote monitoring in the alternative energy industry, which has progressed over the last few months with successful field testing.”
Although there are no specifics to this, it does present an interesting value point for investors to get behind. Whether this could be the deal that secures GSAT its $3.25 price target remains to be seen. But, it does not look like the bullish momentum with the satellite industry is going anywhere anytime soon. So, considering this, does GSAT stock deserve a place on your watchlist or not?
DarkPulse Inc. (OTC: DPLS)
DarkPulse Inc. is a tech penny stock that has continued to garner attention in the past few months. Over the last five days, shares of DPLS stock have shot up by over 18% and in the past six months by over 600%. This is a major gain and one that could help to explain why investors are paying attention to DarkPulse right now. For some context, the company creates security management solutions for industrial corporations and governments.
It’s BOTDA dark-pulse sensor technology utilizes a data stream of critical metrics for addressing the security and health of their infrastructure. DarkPulse offers both Fiber and Ultra-High Sensitivity Sensors security platforms. On August 24th, the company signed an LOI for the acquisition of TJM Electronics West Inc., an electronics maker. TJM operates out of a 20,000 square ft. facility In Arizona, and its assembly team is trained to IPC 610 and J-STD-001 standards.
“Acquiring TJM will bring DarkPulse immediate expansion of our Research and Development capabilities including prototyping while allowing us to develop additional proprietary components and manufacture those components in-house.”CEO and Chairman of DarkPulse, Dennis O’Leary
The facility is expected to house a team dedicated to aerospace and robotics development as well. With all of this new info to take in, will DPLS be on your penny stock watchlist before September begins?
Sonim Technologies Inc. (NASDAQ: SONM)
Sonim Technologies Inc. is another tech penny stock that has been highly popularized over the past year. The company creates ruggedized mobile phones for businesses that conduct high amounts of in-the-field work. Its product line consists of ruggedized tablets and portable communications systems as well. These products are the Sonim XP8, XP5s, XP3, RS80, and more.
On August 16th, Sonim reported its second-quarter results for 2021. Its net revenue came in at $12 million, slightly lower than its $12.2 million reported in the first quarter of 2021. However, its gross profit increased by around 8% sequentially over the first quarter. In addition to this, Sonim’s gross margin went from 20.1% to 22.2% quarter over quarter as well. Well, revenue may be down slightly over the previous quarter, this could be a reflection of the increasing cases of Covid we are witnessing right now. But, with many people returning to work, there could be some potential for SONM down the line.
“Sonim has made significant progress preparing for the third-quarter launch of the first of our next-generation devices, an enhanced version of our highest volume feature phone. We expect this launch to be the start of a series of planned launches of products over the coming quarters, including the fulfillment of the two design awards at a major US carrier that we previously announced.”President and CEO of SONM, Bob Tirva
In the past five days, shares of SONM stock have increased by around 4%. While its previous momentum has been quite volatile, it looks like things could be taking a bullish turn for Sonim. Keeping this information in mind, will SONM make your list of penny stocks to watch?
Which Tech Penny Stocks Are You Watching Right Now?
There are plenty of reasons that tech penny stocks are worth watching right now. And with hundreds of options to choose from, there is plenty of opportunity out there. But, knowing how to find that opportunity and use it to make money with penny stocks is where the challenge comes in.
However, if investors use all the research tools they have at their disposal in combination with an individualized trading strategy, making a profit with tech penny stocks can be doable. Considering this, which penny stocks in the tech sector are you watching right now?