Top 3 Penny Stocks To Buy Now, Some Analysts Project Up 419%

Should You Buy Penny Stock This Week?

If you are looking for penny stocks to buy before April, you have 3 days left. This week marks the end of the first quarter of 2021 and the start of a whole new month and quarter as April approaches. Considering how the market has been lately, it might be difficult to identify the best penny stocks to buy.

Are you looking for hot stocks on Reddit? Perhaps you have made a list of the top penny stocks on Robinhood. On the other hand, this could all be thrown out the window if there was a new market trend to follow.

If you go back to the last few weeks, it’s almost a “stock picker” market. Micro-niches such as NFT stocks, fintechs and even some biotech penny stocks have been in the spotlight. But that doesn’t mean much, given that general sentiment in the broader markets has been mixed.

Friday’s late afternoon breakout signaled positive momentum for some stocks. But, overall, I think traders remained skeptical. Although the S&P and the Dow surged, the Nasdaq and the small-cap Russell 2000 did not advance much. Did this dampen the gains of emerging or speculative stocks?

Best Penny Stocks To Buy [or avoid]

We’ll have to see what this week brings. However, given Friday’s trend, it might not be a bad idea to start putting together your watchlist. Here are some names that turned heads over the past week. Will they be the best subtitles to buy Monday morning? I’ll leave it to you to decide.

NextDecade Corporation (NASDAQ: NEXT)

Analyst firm: Morgan Stanley
Evaluation: Insufficient weight -> Equal weight
Price target: $ 2

You might not expect analysts to cover penny stocks. But believe it or not, there are currently thousands of stocks under $ 5 that are sparking business interest. NexDecade is one of the companies that is gaining ground in the community this month. Over the weekend, the company was upgraded to Equal Weight of Underweight by Morgan Stanley. The company also has a price target of $ 2 on the penny stock at this time.

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You may immediately notice that the NEXT stock is trading above $ 2. Regardless of this, the company has recently made progress in the market. In fact, over the past 3 days, NEXT stock has made a significant move from around $ 1.80 to highs of $ 2.79 on Friday. Additionally, the trading volume on the last Friday of the month was the highest single-day stock volume the stock has seen in over a year.

What to watch with NEXT Stock

One of the main drivers of the NEXT headline momentum has been the push for clean and green energy captions this year. The company specializes in liquid natural gas, which has been seen as “bridge energy” during this period of transition from traditional “fuel” sources to renewable energy resources in the future. The Biden administration’s desire to create a zero carbon footprint gave birth to these “bridging fuels”.

The company recently signed an agreement with Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum Corp. (NYSE: OXY), to collect and permanently store the carbon dioxide captured in NextDecade’s Rio Grande LNG project in the Port of Brownsville, Texas. Richard Jackson, President of Occidental, Operations, US Onshore Resources, and Carbon Management, commented: “The proposed CO2 sequestration facility for South Texas is a prime example of the many sequestration centers that OLCV plans to globally. . “

Drive Shack Inc. (NYSE: DS)

Analyst: Craig Hallum
Evaluation: Initiate – Buy
Price target: $ 5

Drive Shack has been one of the reopening penny stocks to watch over the past few months. The company operates as a place of entertainment centered on golf experiences. The company has worked to expand its offering to attract the masses, from driving ranges to mini-golf.

His most recent initiative focused on mini-golf through a deal with golf star Rory McIlroy through his Symphony Ventures fund. In particular, the company is rolling out the launch of its puttery pitches this year.

What to watch with DS Stock

After beating fourth quarter and 2020 earnings, CEO Hana Khouri said in the latest company update: “As we look to 2021, we are focusing on strategic priorities to drive growth and success. profitability, including the launch and expansion of Puttery, capturing market share using data and analytics, increasing brand awareness and advancing technology and innovation to stay ahead of the curve in our space … We believe that 2021 will be a memorable year for us, driven by a team that sets us apart and will move us forward. “

Given the emphasis on “reopening the trade” and the idea that golf (even mini golf) is socially distant enough, Drive Shack could be one of the penny stocks to watch this year.

Kadmon Holdings Inc. (NASDAQ: KDMN)

Analyst: HC Wainwright
Evaluation: Buy
Price target: $ 20

Finally, Kadmon Holdings was recently reiterated by HC Wainwright with its buy note and a price target of $ 20. The company is focused on the discovery and development of treatments for fibrotic and inflammatory diseases. This includes an extensive pipeline of compounds such as KD045, KD033, Clovique and others.

[Read More] 3 Penny Stocks To Buy Under $ 5 For Your April 2021 Watchlist

Last week, the company announced that it plans to showcase an ongoing trial poster for KD033-101, its ongoing dose-escalation and dose-extension trial of KD033 in patients with solid tumors. metastatic and locally advanced. The presentation will take place at the 2021 annual meeting of the American Association for Cancer Research, which will take place April 10-15. Additionally, initial trial safety data is expected in Q2 2021. Additionally, clinical trial data is expected in Q4 2021.

What to watch with KDMN Stock

HC Wainwright, recently reiterated his position on Kadmon. The company has a buy rating on the penny stock. He also placed a price target of $ 20 on KDMN. Mizuho analysts also have a buy on Kadmon with a price target of $ 13. Based on these two targets, it looks like analysts are forecasting between 237% and 419% based on Friday’s closing price. Will this actually be in the cards for the KDMN stock?