NOV is supplying new heavy-lift cranes to Cadeler’s current O-Class vessels Wind Orca and Wind Osprey to upgrade the fleet’s capability of managing th…

https://www.entrepreneur.com/article/381681

August 25, 2021 5 min read

This story originally appeared on Zacks

In an act of showing support and being the first mover in the burgeoning non-fungible token (NFT) market, Visa Inc. V bought a CryptoPunk #7610, one of 3,840 female punks, for 49.50 ETH ($149,939) last week.

CryptoPunks, a collection of pixel art images, is one of the digital avatars that was developed on the Ethereum blockchain. The one that Visa bought is an NFT of a female character with a mohawk, clown-green eyes and a bright-red lip color.

What is an NFT?

As the name suggests, it is a digital token, which is non fungible, meaning that it cannot be exchanged. Consider a traditional currency or even the crypto currencies that can be exchanged. For example, a $10 bill can be exchanged for 2 dollar $5bills but with NFTs, that is not the case since those are unique products, which represent ownership in the digital form of any product varying from artwork, paintings, songs, video tweets, NBA tickets to possession of a real estate, etc. What makes NFT not exchangeable is that it is a unique asset and cannot be directly replaced with another one.

NFTs are being viewed as an efficient way by individual retailers, businesses, celebrities, artists to sell their products directly to buyers, thus cutting off the intermediaries in a traditional transaction who take a cut in the payment. Also, NFTs have a huge scope in more mainstream commerce.

Although the NFT market is in its initial stages, it is already frenzy rage in the digital art and creation ownership. Recent instances where NFTs were sold at jaw-dropping prices were the sale of the first-ever published tweet of Jack Dorsey, the Twitter CEO, for $2.9 million via an NFT.

In yet another instance, an NFT of an image entitled “Everydays: The First 5,000 Days” by artist Beeple fetched $69 million. The difference in buying art in the form of an NFT is that it cannot be displayed on your walls in physical form but can be exhibited virtually.

Visa Eyes Potential Growth in the NFT Market

NFTs are rapidly gaining traction and Visa expects  continued growth from this particular market. This is witnessed by its sheer growth to $1B in payment volume  in August alone, up from  less than $100M in whole of 2020.

According to Visa’s vice president and head of Crypto Cuy Sheffield, NFTs are one of the ways to buy, sell and own digital goods and will pave the path for new methods of collecting. These can also be used in conducting commerce across social media, retail and entertainment channels.

Per management, NFTs could also boost small and medium-sized businesses (SMBs) in powerful new ways. The boom in e-commerce made it possible for SMBs to sell online and reach customers around the globe. But these  businesses  still have to produce and ship physical goods, which can have high upfront costs.  NFTs give small businesses an opportunity to harness public blockchains for producing digital goods, which can be delivered instantly to a crypto wallet. We can envision a future in which one’s crypto address becomes as important as the mailing id.
Visa is eyeing the NFT space and seeks the intermediary position to make NFT-commerce accessible and useable for buyers and sellers. To this end, the company is looking to help brands and businesses better understand the concept of NFTs.

Since the company is head on penetrating the NFT space, it won’t be surprising to hear about it forging partnerships that support NFT buyers, sellers and creators.

Visa is the first company in the payments space to dip its toes in the NFT space. It is also hugely backing crypto currencies by aggressively allowing payments in digital currency through its network. In the first half of 2021 alone, the company facilitated more than $1 billion worth transactions via crypto-linked Visa cards.

Blockchain holds the key to the future as it looks set to bring about a sea change in the payments industry. Visa has always led the pack in terms of adopting the revolutionizing ways and the NFT move only proves its commitment in that direction.

Year to date, the stock has gained 7.1% against its industry’s decline of 8.7%. Other companies in the same space Mastercard Inc. MA, American Express Co. AXP and Discover Financial Services DFS have also increased 1.4%, 33.3% and 42.8%, respectively, over the same time frame.  
Visa carries a Zacks Rank #3(Hold), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Mastercard Incorporated (MA): Free Stock Analysis Report
 
Visa Inc. (V): Free Stock Analysis Report
 
Discover Financial Services (DFS): Free Stock Analysis Report
 
American Express Company (AXP): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

https://www.entrepreneur.com/article/381682

August 25, 2021 7 min read

This story originally appeared on Zacks

Urban Outfitters Inc. URBN reported sturdy second-quarter fiscal 2022 results wherein the top and the bottom line outshone the Zacks Consensus Estimate and also improved on a year-over-year basis. We note that sales across the company’s all brands and segments grew year over year.

The flourishing digital channel in North America witnessed mid-double-digit sales growth. Overall, the company’s digital performance was impressive. Its FP Movement delivered another sturdy quarter with the overall brand revenues increasing more than 200%. At present, the brand operates 54 shop-in-shop locations inside Free People Collection outlets and 13 stand-alone stores. Markedly, these stand-alone stores are performing outstandingly. In the reported quarter, the Movement’s customer base grew more than 80% year over year and above 300% from the second-quarter 2020 reading.

The Nuuly brand recently announced the launch of its sister brand Nuuly Thrift. This is a resale marketplace where customers can buy or sell women’s, men’s or kids apparel and accessories through the iOS device. The Nuuly team will launch its app later this fall.

Image Source: Zacks Investment Research

Over the past three months, this currently Zacks Rank #3 (Hold) stock has gained 5.9% against the industry’s 6.4% decline.

Deeper Insight

This lifestyle-specialty retail company delivered earnings per share of $1.28 that beat the Zacks Consensus Estimate of 79 cents. The bottom line improved significantly from 35 cents recorded in the year-ago quarter and 61 cents earned in the quarter ended Jul 31, 2019.

In the reported quarter, net sales of $1,157.7 million soared 44.1% year over year and surpassed the Zacks Consensus Estimate of $1,080 million. Also, the metric grew 20.3% from the figure reported in the quarter ended Jul 31, 2019. Brandwise, net sales were up 36.3% year over year to $441.6 million at Urban Outfitters, 52.7% to $450.6 million at Anthropologie Group and 40.3% to $249.7 million at Free People. Menus & Venues’ net sales amounted to $5.9 million, significantly up from $1.6 million recorded in the prior-year quarter. Nuuly, the subscription-based rental service for women’s clothes contributed $9.9 million to net sales, reflecting an increase 110.6% from the year-ago period’s level.

Segmentwise, net sales at the company’s Retail Segment surged 43.8% year over year to $1,089 million while the same at the Wholesale Segment climbed 43.1% to $58.8 million. Comparable Retail segment net sales rose 40% year over year and 22% from the same-quarter fiscal 2020 level on account of double-digit sales growth across the digital channel. Growth was partly offset by low single-digit negative retail store sales on lower store traffic. Robust consumer demand in majority of the product categories, mainly apparel, as well as solid execution drove double-digit retail segment comps across all brands.

When compared to the quarter ended Jul 31, 2019, comparable Retail segment net sales jumped 53% at the Free People Group, 14% at the Anthropologie Group and 20% at Urban Outfitters.

An Insight Into Margins

In the quarter under review, gross profit soared 82.9% year over year to $435.3 million from the year-ago quarter’s level. Also, gross margin expanded 800 basis points (bps) year over year and 478 bps from the second-quarter fiscal 2020 tally to 37.6%. Record low merchandise markdown rates in the Retail segment coupled with leveraged store occupancy expenses on higher penetration of the digital channel in Retail segment net sales aided the gross margin.

Selling, general and administrative (SG&A) expenses shot up 59.8% year over year and 13.3% from the second-quarter fiscal 2020 level to $269.4 million. As a percentage of net sales, the metric increased 230 bps year over year while the same decreased 140 bps from the fiscal 2020 figure to 23.3%.

The company recorded an operating income of $165.9 million, significantly up from $69.4 million recorded in the prior-year quarter and $78.1 million reported in second-quarter fiscal 2019. As a rate of sales, operating margin expanded 570 bps year over year and 620 bps from the quarter ended Jul 31, 2019 to 14.3%.

Store Update

During the six months ended Jul 31, 2021, the company opened 28 retail outlets including nine Urban Outfitters, four Anthropologie Group stores and 15 Free People Group stores (including seven FP Movement stores). Also, one Urban Outfitters franchisee-owned store and one Anthropologie Group franchisee-owned outlet were inaugurated during the aforementioned period. It shuttered two Free People Group stores, two Anthropologie Group outlets and one each of Urban Outfitters store and Menus & Venues restaurant.

As of Jul 31, 2021, the company operated 255 Urban Outfitters stores in the United States, Canada and Europe; 239 Anthropologie Group stores in the United States, Canada and Europe; 162 Free People stores in the United States, Canada and Europe; 10 Menus & Venues restaurants; two Urban Outfitters franchisee-owned stores and one Anthropologie Group franchisee-owned store.

For the second half of fiscal 2022, management plans to open about 26 stores and close 11 outlets. This store opening number does not reflect franchise partner locations across the international markets. It also intends to open additional six Movement stores in the rest of fiscal 2022 and 15-20 stores in fiscal 2023.

Other Financial Details

Urban Outfitters ended the quarter with cash and cash equivalents of $464.8 million and total shareholders’ equity of $1,669.4 million. As of Jul 31, 2021, total inventory increased 37.3% year over year to $483.1 million.

This Philadelphia, PA-based company generated net cash of $195.2 million from operating activities during the first half of fiscal 2022. For fiscal 2022, management projects capital expenditures of nearly $285 million, mainly related to expanded distribution and fulfillment capacity to boost digital growth and store launches.

Urban Outfitters did not buy back shares in the first six months of fiscal 2022. It repurchased and subsequently retired 0.5 million shares for roughly $7 million in fiscal 2021. As of Jul 31, 2021, the company had 25.9 million shares remaining under its share repurchase programs.

Outlook

Management highlighted that comp sales in August at the Free People and Anthropologie brands are almost in line with the reported quarter’s levels while Urban Outfitters’ brand comps slowed down in mid-July. The company expects retail segment comps for the Urban Outfitters’ brand in the fiscal third quarter to moderate by high single-digits. August to date, the overall Urban Outfitters retail segment comp sales are mid-teens positive.

Urban Outfitters projects the fiscal third quarter to continue reflecting a healthy sales improvement in comparison to fiscal 2020. It believes that retail segment comp sales will grow in mid teens while the wholesale segment sales are likely to decline at a rate similar to that of the fiscal second quarter. These will result in the overall company sales in low double-digits.

The company’s gross margins for the fiscal third quarter are likely to improve 100 bps from the fiscal 2020 figure, given the current sales performance and forecast. Lower markdown rates on solid consumer demand, robust product performance and disciplined inventory control aid the gross margin. Favorable markdowns are likely to offset reduced initial mark-ups, and deleveraged delivery and logistics expenses. SG&A for the fiscal third quarter is likely to grow at a rate just below the sales growth rate.

More Hot Stocks in Retail

Abercrombie ANF has a long-term earnings growth rate of 18% and a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Gap GPS, presently a Zacks #1 Ranked stock, has a long-term earnings growth rate of 12%.

Hibbett HIBB has a long-term earnings growth rate of 17.7% and a Zacks Rank of 1 at present.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Abercrombie & Fitch Company (ANF): Free Stock Analysis Report
 
The Gap, Inc. (GPS): Free Stock Analysis Report
 
Urban Outfitters, Inc. (URBN): Free Stock Analysis Report
 
Hibbett, Inc. (HIBB): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

https://www.entrepreneur.com/article/381683

August 25, 2021 5 min read

This story originally appeared on Zacks

The market expects Vera Bradley (VRA) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended July 2021. This widely-known consensus outlook is important in assessing the company’s earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 1. On the other hand, if they miss, the stock may move lower.

While management’s discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it’s worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This handbag and accessories company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +3.1%.

Revenues are expected to be $151.52 million, up 15% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company’s earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model’s predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Vera Bradley?

For Vera Bradley, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Vera Bradley will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it’s worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Vera Bradley would post a loss of $0.19 per share when it actually produced a loss of $0.05, delivering a surprise of +73.68%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it’s worth checking a company’s Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they’ve reported.

Vera Bradley doesn’t appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Vera Bradley, Inc. (VRA): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

https://www.entrepreneur.com/article/381684

August 24, 2021 6 min read

This story originally appeared on PennyStocks

Many penny stocks have been the main focus for investors this year. In addition, the growth of apps like Robinhood, and retail traders, have added billions of dollars in capital to the stock market.

[Read More] Hot Penny Stocks to Watch With September Around the Corner

As a result, volume is higher than ever and volatility is also surging. While this may seem scary at first, high volume and high volatility are two factors that penny stock investors love. These can be easily used as an advantage if you have the right tools at your disposal. 

Meme Stocks Boom

Helping bring the surge back to retail trading momentum right now are popular meme stocks and former penny stocks like AMC Entertainment (NYSE: AMC), GameStop (NYSE: GME), and Koss Corporation (NASDAQ: KOSS) to name a few. These were the original “short squeeze stocks” that brought hordes of new traders into the market over the last year.

While we touched on it earlier today in the article “5 Penny Stocks That Turned $2,500 Into Over $29,000 In 2021 So Far” AMC stock and other memes surged even higher during the afternoon session. This helped give a much-needed jolt to small-cap stocks and penny stocks alike. With that, it’s important to keep track of underlying market trends to follow the money.

In this case, looking at major ETFs, the Russell 2000 Small-Cap ETF (NYSE: IWM) is on fire heading into power hour on Tuesday. With that, let’s look at some hot penny stocks right now. Will they be top names to buy heading into the rest of the week or should they be avoided entirely?

Best Penny Stocks to Buy [or avoid] Right Now 

1. Evofem Biosciences Inc. (NASDAQ: EVFM) 
2. Darkpulse Inc. (OTC: DPLS) 
3. Dare Bioscience Inc. (NASDAQ: DARE) 

Evofem Biosciences Inc. (NASDAQ: EVFM)

Evofem is a biotech company that develops and commercializes products targeted at women’s sexual and reproductive health. Its main product, Phexxi, is a gel used for contraceptive purposes. Evofem is also developing EVO100, which is an antimicrobial gel to prevent the transmission of Chlamydia and other diseases. This is a large market and one that Evofem is working hard to capitalize upon. 

[Read More] Hot Robinhood Penny Stocks With High Volume in August

In the spirit of the recent earnings season, Evofem reported its second-quarter financial results this month. When it comes to net product sales, Evofem improved by 68% quarter over quarter. The company also experienced a 47% increase in Phexxi prescriptions and a 52% increase in its Phexxi prescriber base.

“We are pleased to show strong and sustainable growth in Phexxi prescriptions and dispensed units in the second quarter. This momentum allows us to further accelerate the growth trajectory with our celebrity campaign launching in early September.”

CEO of Evofem, Saundra Pelletier

Shares of EVFM have been on the rise recently, pushing up by over 5% in the past five days. In addition, the overall bullish sentiment on biotech penny stocks is driving many companies like EVFM up right now. Noting this info, will EVFM make your list of penny stocks to watch right now?

DarkPulse Inc. (OTC: DPLS)

DarkPulse Inc. is a company that creates solutions for installation, engineering, and security management. Governments and industries globally that need tech-based solutions then purchase these solutions. DarkPulse is actively developing a patented BOTDA dark-pulse sensor technology. Its two security platforms are Fiber and Ultra-High Sensitivity Sensors, which work similarly to provide a range of services to the customers that it works with.

On August 20th, the company announced that its subsidiary Optilan won a security & comms contract for power plants constructed by ENKA Insaat Ve Sanayi A.S. Optilan will deliver communications and security systems to ENKA’s Misurata and Tripoli Simple Cycle power plants in Libya. The goal of the projects is to meet the growing demands for electricity in Libya. This is a big deal and one that has yet to fully play out for DPLS. 

“We’re delighted to have been awarded this contract by ENKA and deliver on projects that crucially assist Libya’s pursuit to meet increased market demand for electricity.”

The CEO of Optilan, Bill Bayliss

In the past five days, shares of DPLS stock have shot up by over 11%. And if that seems like a lot in the past month, that jumps to over 40%, and in the past six months, by over 600%. Keeping all of this in mind, will DPLS stock make your penny stocks watchlist?

Dare Bioscience Inc. (NASDAQ: DARE)

Dare is a biotech company that focuses on developing and marketing products for women’s health. Similar to Evofem, Dare is a company that develops therapies for contraception, fertility, sexual, and personal health. One of its products is DARE-BV1 which just completed Phase 3 clinical trials to treat bacterial vaginosis.

On August 12th, Dare Bioscience reported its second-quarter financial results and also provided a company update. At the very end of 2020, Dare had cash and cash equivalents of $4.7 million. Now as of June 30th, 2021, the company has $9.1 million in cash and cash equivalents. Between July 1st and August 10th, Dare received additional cash of about $25.4 million. This took place as a result of sales of common stock in its at-the-market offering program.

“Consistent with our guidance, we submitted our New Drug Application for DARE-BV1, a potential new first-line treatment for bacterial vaginosis, to the FDA in June. Our NDA was accepted for filing and received Priority Review with a PDUFA target date of December 7, 2021.”

CEO and President of Dare Bioscience, Sabrina Martucci Johnson

With a lot to look forward to from the company, will DARE stock be on your list of penny stocks to watch in August?

Are Meme Penny Stocks Worth Buying?

While meme penny stocks can be quite volatile, they do present a lot of opportunities for investors of all types. With so many circulating constantly, it can be difficult to find the best ones for your buy list.

[Read More] Reopening Penny Stocks to Buy in September? 3 to Watch

But, with the right research on hand and a commitment to gaining a trading education, buying and selling penny stocks can be a profitable endeavor. Considering this, do you think that meme penny stocks are worth buying?

https://www.entrepreneur.com/article/381347

Chinese tech stocks are finally catching a bid after months of value-destroying regulations

https://www.entrepreneur.com/article/381341

Today’s Research Daily features new research reports on 16 major stocks, including Facebook, Inc. (FB), QUALCOMM Incorporated (QCOM), and United Parce…

https://www.entrepreneur.com/article/381342

https://www.entrepreneur.com/article/381343

August 22, 2021 6 min read

This story originally appeared on PennyStocks

3 Penny Stocks to Watch in August 2021 

In August 2021, there are plenty of penny stocks that present buying opportunities. While it is difficult to say with certainty where the market is headed, there are many penny stocks that investors are watching right now. And to understand which, we have to take a deep dive into the current market trajectory and where it could be headed in the long term. 

It wouldn’t make any sense to discuss stocks right now without talking about the effects of the pandemic. And in August, rising case numbers mean that we are nowhere near out of the woods yet. So as investors, we have to take this and work with it in order to make money with penny stocks. Considering the pandemic, we see that industries such as biotech, tech, and retail are among the most popular right now. 

[Read More] 4 Trending Penny Stocks On Robinhood You Should Watch Right Now

While this is a broad range, within each of these are differing penny stocks that could be worth keeping an eye on. And as prudent investors, it is our job to research each and every stock on our list. This includes understanding financials, balance sheets, rumors, speculative events, and everything in between. So, with all of this in mind, let’s take a look at three penny stocks that have pulled back from highs but could be some to watch heading into this week. 

3 Penny Stocks For Your Watchlist Right Now 

1. GEE Group Inc. (NYSE: JOB) 
2. Vislink Technologies Inc. (NASDAQ: VISL) 
3. Timber Pharmaceuticals Inc. (NYSE: TMBR) 

GEE Group Inc. (NYSE: JOB)

GEE Group Inc. is a company that provides staffing and placement services to U.S. companies. It offers placement for finance, office, medical, accounting employees, and more. The company’s services are offered under the Agile Resources, Access Data Consulting, Ashley Ellis, and Omni-One names among many others.

When the pandemic first began, jobs numbers quickly sank to low levels. However, soon after, hiring began again, and resulted in lower unemployed, ent numbers than in many months prior. As a result, companies like GEE Group Inc. have become more popular for investors. 

On August 16th, GEE Group released its financial results for the 2021 fiscal third quarter. Its revenue increased 43.1% year over year to $38.1 million. In addition to this, quarter over quarter, revenue increased by 9.6%. And, it’s worth noting that GEE Group’s gross profit went up 43% year over year and 26.7% quarter over quarter. All of these numbers are exciting for both the company and investors alike. Whether this is a reflection of the shifting jobs market or GEE Group’s business model remains to be seen. 

“We were very pleased with GEE Group’s performance this quarter. Revenues, operating income, and non-GAAP adjusted EBITDA were well above our expectations.”

The Chairman and CEO of GEE Group, Derek Dewan

This positive news and the future of GEE stock are both important for investors to consider. Keeping this new information in mind, is JOB a contender for your list of penny stocks to watch?

Vislink Technologies Inc. (NASDAQ: VISL)

Vislink is a tech company that designs, develops, and delivers wireless communications solutions. Its products include MicroLite 3, which is a compact wireless HD transmitter used for live production. Most of the products offered by Vislink are for live production purposes.

But, in addition, it also offers camera systems, transmitters, receivers, and more. In the past year or so, the major shortage of microprocessors has resulted in vastly heightened demand for tech products. And while Vislink is not a producer of microprocessors, it likely could benefit from this demand spike. YTD, shares of VISL stock are up by over 40% which is quite a solid feat.

[Read More] Reddit Penny Stocks to Buy? 3 That You Probably Don’t Know About

On August 16th, the company reported its second-quarter results for 2021. Vislink announced that its revenue has increased by 85% over its first-quarter results this year in this new report. In addition to this positive advancement, the company’s orders have increased by 250% in the first half of 2021.

“Our quoting activity continued to increase, with new bookings growing over 250% during the first half of 2021 compared to the corresponding period in 2020. This accelerating sales growth, together with our ongoing focus on cost containment and strategic use of financial resources, helped us significantly narrow our EBITDA loss in the second quarter to $578,000, compared to a $2.4 million EBITDA loss in the first quarter.”

CEO of Vislink, Mickey Miller

These numbers are exciting for the company’s present and potential future. And while they have yet to reflect in its stock price, it does look like Vislink is working hard to grow. So, considering this, will VISL be on your penny stocks watchlist?

Timber Pharmaceuticals Inc. (NYSE: TMBR)

Timber Pharmaceuticals Inc. is a biotech penny stock that has been climbing in several recent trading sessions. In the past month, shares of TMBR stock have increased by over 11% and YTD, by over 30%. The company’s primary focus is on clinical-stage products. Timber is currently developing and commercializing treatments for orphan dermatologic diseases. So why is TMBR stock going up in the market in August?

On August 10th, the company provided a business update and released its financial results for the second quarter of 2021. Chairman and CEO John Koconis said, “The Timber team has persevered through the headwinds of the global pandemic to reach the clinical milestones we’ve achieved thus far as well as those we expect to achieve over the next nine months.”

The company plans to end the TMB-002 Phase 2b trial recruitment at the end of the third quarter of 2021. Timber finished the quarter with $6.1 million in cash and common shares outstanding of 36.7 million. Keeping this new info in mind, will TMBR be on your list of penny stocks to watch?

Are You Watching These Penny Stocks Right Now?

With so many penny stocks to choose from right now, it can be difficult to decide on just a few for your list. But, with the right research and dedication to finding information, it can be much easier than previously imagined.

[Read More] 8 Best Penny Stocks To Buy Right Now According To Insiders

Considering that there are so many factors affecting the stock market right now, investors need to take everything into account. So, with all of this in mind, are you watching these penny stocks right now?

https://www.entrepreneur.com/article/380921

August 17, 2021 4 min read

This story originally appeared on StockNews
With solid progress on the COVID-19 vaccination front and substantial economic growth so far this year, auto manufacturers have witnessed a significant rise in sales in the first half of 2021. Given sustainability initiatives worldwide, the EV industry is expected to grow over an extended period. Hence, we think the shares of auto manufacturers, Tesla (TSLA) and Stellantis (STLA), whose shares have gained more than 6% in price in the past month, are well-positioned to move higher. So, let’s discuss.

The electric vehicles (EV) industry is expanding rapidly, bolstered by zero-emission initiatives worldwide. The near-term outlook for the EV industry seems to be bright, as governments around the globe place significant emphasis on accelerating EV production and sales to meet their sustainability targets. The EV market grew more than  40% during 2020, with a record 3 million EVs registered.

Furthermore, global EV sales rose by around 140% year-over-year in the first quarter of 2021. And auto manufacturers are now placing an emphasis on broadening their product portfolios and ramping up production to meet the increasing demand. The International Energy Agency (IEA) anticipates the EV industry will witness “healthy growth” during this decade.

The shares of two well-known players in the industry, Tesla, Inc. (TSLA) and Stellantis N.V. (STLA), have gained more than 6% in the past month and are poised to generate significant returns in the coming months also.

Click here to checkout our Electric Vehicle Industry Report for 2021

Tesla, Inc. (TSLA)

TSLA in Palo Alto, Calif., designs, develops, manufactures, leases, and sells electric vehicles and energy generation and storage systems globally. The company operates in two segments: Automotive and Energy Generation and Storage.

TSLA’s total revenue increased 98% year-over-year to $11.96 billion in its  fiscal second quarter, ended June 30. Its income from operations grew 301% from its year-ago value to $1.31 billion, while its non-GAAP net income improved 258% year-over-year to $1.62 billion. The company’s non-GAAP EPS increased 230% year-over-year to $1.45.

Analysts expect TSLA’s revenues to increase 49.3% year-over-year to $13.10 billion in the current quarter, ending September 2021. A  $1.38  consensus EPS estimate  for the current  quarter indicates an 81.6% rise from the same period last year. TSLA has an impressive earnings surprise history as well; it beat the consensus EPS estimates in three out of the trailing four quarters.

Over the past month, TSLA gained 6.5% to close yesterday’s trading session at $686.17. The stock gained 107.8% over the past year.

Stellantis N.V. (STLA)

Based in the Netherlands, STLA designs, engineers, manufactures, and sells passenger vehicles, pickup trucks, SUVs, and light commercial vehicles worldwide. It offers luxury, premium, and mainstream vehicles, as well as financial services, and parts and services, and also provides retail and dealer financing, leasing, and rental services.

On July 6, STLA announced its investment in Vauxhall’s Ellesmere Port manufacturing plant, which will become the first STLA plant to produce a solely battery-electric vehicle, in both commercial and passenger versions, by the end of next year. This is in line with the U.K. government’s decision to stop sales of pure petrol and diesel engine vehicles from 2030. The project is expected to garner significant returns for the company amid sustainability initiatives worldwide.

In May,  STLA and Hon Hai Precision Industry Co., Ltd., together with its subsidiary FIH Mobile Ltd., formed  a non-binding memorandum of understanding to form Mobile Drive, a joint venture aimed at accelerating development timelines to deliver innovative in-vehicle user experiences. Through this partnership, the company expects to push the boundaries in connected car technology and provide immersive digital experiences to its customers.

STLA’s net revenues increased 270.2% year-over-year to €72.61 billion ($85.55 billion) in the fiscal six months ended June 30. Its net profit stood at €5.80 billion ($6.83 billion), up 627.7% from the same period last year. Its cash flows from operating activities came in at €5.62 billion ($6.62 billion) over this period.

A $182.87 billion consensus revenue estimate for the fiscal period ending December 2021 indicates a 12.8% increase year-over-year. The Street expects the company’s EPS to rise 202.8% from the prior year to $4.02 in the ongoing year.

STLA gained 18.4% over the past month to close yesterday’s trading session at $21.68. The stock has gained 32.8% over the past six months.

Click here to check out our Automotive Industry Report for 2021

TSLA shares fell $1.91 (-0.29%) in after-hours trading Tuesday. Year-to-date, TSLA has declined -5.66%, versus a 19.54% rise in the benchmark S&P 500 index during the same period.

About the Author: Subhasree Kar

Subhasree’s keen interest in financial instruments led her to pursue a career as an investment analyst. After earning a Master’s degree in Economics, she gained knowledge of equity research and portfolio management at Finlatics.

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The post 2 Auto-Manufacturers Up More Than 6% in the Past Month appeared first on StockNews.com https://www.entrepreneur.com/article/380514