Uncategorized
4 Penny Stocks To Buy Now According To Analysts, Targets Up To 240%
Are these the best penny stocks to buy today?
The post 4 Penny Stocks To Buy Now According To Analysts, Targets Up To 240% appeared first on Penny Stocks…
Share this:
Why Analyst Sentiment Is Your Key to Navigating the Penny Stock Jungle
The world of penny stocks is exciting. High risk, high reward, right? But navigating this jungle is not for the faint-hearted. Every day, investors search for the next breakout star, hoping to snag stocks before they soar. But with so many options, how do you choose? Enter the analysts.
The Power of Analyst Sentiment in Penny Stocks
Analyst sentiment is the collective opinion of market experts on a particular stock’s potential. Think of it as a compass. A guide in the wild world of penny stocks. And for good reason. These analysts spend their days researching, analyzing, and forecasting market trends. They have the tools, experience, and knowledge to sift through the noise.
Benefits of Using Analyst Sentiment
- Informed Decisions: Analysts base their opinions on data. Their insights can provide clarity, helping you make informed investment choices.
- Time-Saving: No need to scour the internet. Analyst sentiment offers a quick snapshot of a stock’s potential.
- Diverse Perspectives: Multiple analysts mean multiple viewpoints. This diversity can provide a well-rounded outlook on a stock.
But Wait… It’s Not All Rosy
As with all things in the stock market, there are risks. Placing complete trust in analyst sentiment can be a double-edged sword.
- Bias Risk: Not all analysts are impartial. Some might have vested interests, influencing their recommendations.
- Over-Reliance: Solely depending on analysts can limit your own research, potentially overlooking critical details.
- Volatile Nature: Penny stocks are inherently volatile. Even with positive sentiment, there’s no guaranteed success.
The Balanced Approach
The key? Balance. Use analyst sentiment as one of many tools in your investment toolkit. Combine it with your own research. Dive deep into financials, study market trends, and keep an eye on industry news. Remember, penny stocks are unpredictable. But with a mix of expert opinion and personal insight, you can increase your chances of making a smart move.
So, as we gear up to explore top penny stocks to buy according to different analysts, remember the power of balance. Analyst sentiment is valuable, no doubt. But it’s essential to blend it with your own research. In the penny stock jungle, this combo might just be your best bet.
Penny Stocks To Buy According To Analysts
- Polestar Automotive Holdings (NASDAQ: PSNY)
- CleanSpark (NASDAQ: CLSK)
- bluebird bio (NASDAQ: BLUE)
- Ardagh Metal Packaging (NYSE: AMBP)
1. Polestar Automotive Holdings (PSNY)
The now infamous EV company made its IPO splash last year and has more or less imploded ever since. The IPO high was $13.36 and PSNY stock has lost a significant amount of value, falling to $1.98 just a few days ago. But with high hopes for a recharged electric vehicle industry, some analysts are hopeful that smaller EV companies can speed up adoption in the marketplace.
– Is It Worth It To Start Trading Penny Stocks With $1,000?
The Swedish company reported that it’s anticipating to deliver 60,000-70,000 vehicles in 2023, up 50% year-over-year. According to Polestar’s deliver update last month, the company delivered roughly 13,900 in Q3. With earnings coming up next week, the market is jockeying and so are analysts.
Most recently Piper Sandler weighed in with a PSNY stock forecast target price of $3. The firm also carries an Overweight rating. With prices hovering around $2, that forecast is nearly 50% higher as of this update.
2. CleanSpark (CLSK)
CleanSpark is one of the Bitcoin stocks to watch right now. It mines Bitcoin and is coming off of a milestone acquisition. Last month, it purchased 4.4 EH/s Antminer S21 bitcoin mining machines.
“Integrating the S21 into our mining operations is in line with our commitment to using the most efficient mining technology,” said Zach Bradford, CEO. “The efficiency of the S21 should not only increase our capacity but should also drive down energy costs per bitcoin mined, enhancing our competitive edge within the global mining landscape. Importantly, our scale has positioned us with strong bitcoin production at solid margins, and as a result we expect to fund the majority of the purchase through operating cashflows.”
Last week, CleanSpark reached a Bitcoin mining milestone. The company announced that it passed a total hashrate of 10 EH/s. According to the company, few public bitcoin mining companies have ever achieved this milestone.
Analysts covering the penny stock include JPMorgan (Overweight, $5.50 target), Cantor Fitzgerald (Overweight, $10 target), Chardan Capital (Buy, $11 target) and HC Wainwright (Buy, $14 target). Based on HC Wainwright’s CLSK stock forecast price target, it sits around 240% higher than recent levels.
3. bluebird bio (BLUE)
Earnings season is in full swing and showing the true colors of the companies reporting. bluebird bio will be reporting next week on the 7th. In its last financial update, the company beat EPS estimates but missed on sales expectations. bluebird said that its commercial launch of ZYNTEGLO and SKYSONA remained strong and that a Biologics License Application for its lovo-cel in sickle cell disease was accepted for priority review by the FDA.
The FDA communicated in August that an advisory committee meeting will not be scheduled for lovo-cel gene therapy for sickle cell disease. The Agency previously accepted the lovo-cel Biologics Licensing Application (BLA) for Priority Review and set a Prescription Drug User Fee Act (PDUFA) goal date of December 20, 2023. In the interim, analysts have also begun picking up more coverage on BLUE stock.
This week bluebird announced an agreement to sell its priority review voucher, if granted, for $103 million. “The potential sale of a priority review voucher would provide an important source of non-dilutive capital for bluebird ahead of the anticipated launch of lovo-cel,” said Chris Krawtschuk, chief financial officer, bluebird bio. “As the FDA completes its review of lovo-cel, our team remains confident in the robustness and maturity of our BLA package for individuals 12 and older with sickle cell disease and looks forward to a regulatory decision by the end of this year.”
What do analysts think about BLUE stock? HSBC initiated coverage with a Buy rating and set a BLUE stock forecast price target of $4.21, around 40% higher than recent levels.
4. Ardagh Metal Packaging (AMBP)
Shares of Ardagh Metal have been ripping higher over the least few weeks. Aside from the attention to consumer stocks, Ardagh has also benefited from stronger earnings. The company, known for its infinitely recyclable metal beverage cans and packing, beat estimates for EPS and sales. The company reported a Q3 Adjusted EPS of $0.06 compared to $0.05 estimates and sales of $1.29 billion, which beat the $1.24 billion expected.
– Penny Stocks To Buy Today? 4 To Watch Now
Oliver Graham, CEO of Ardagh Metal Packaging, said in the earnings update, “We delivered a robust performance in the quarter to achieve our guidance despite a softening of demand conditions in Europe. Americas performance was slightly ahead of our expectation, with North America benefitting from strong shipment growth, while Brazil was broadly in line. The deterioration in demand during the quarter negatively impacted European performance against our expectations, which we anticipate will persist into Q4.”
Its global beverage can shipments increased by 8% during the quarter. The company also offers a quarterly ordinary dividend of $0.10 for an annual dividend per share of $0.40. As for analysts, Barclays has set a $4 AMBP stock forecast price and has an Overweight rating.
The post 4 Penny Stocks To Buy Now According To Analysts, Targets Up To 240% appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.
nasdaq stocks bitcoin
Uncategorized
February Employment Situation
By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…
Share this:
By Paul Gomme and Peter Rupert
The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.
Temporary help services employment continues a steep decline after a sharp post-pandemic rise.
Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.
The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.
The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.
Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.
As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.
Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.
The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.
unemployment pandemic unemploymentUncategorized
Mortgage rates fall as labor market normalizes
Jobless claims show an expanding economy. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.
Share this:
Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Instead, the 10-year yield had a muted response after the headline number beat estimates, but we have negative job revisions from previous months. The Federal Reserve’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%. For now, we can say the labor market isn’t tight anymore, but it’s also not breaking.
The key labor data line in this expansion is the weekly jobless claims report. Jobless claims show an expanding economy that has not lost jobs yet. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.
From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. The four-week moving average declined slightly by 750, to 212,250
Below is an explanation of how we got here with the labor market, which all started during COVID-19.
1. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. 9, 2020. By that time, the upfront recovery phase was done, and I needed to model out when we would get the jobs lost back.
2. Early in the labor market recovery, when we saw weaker job reports, I doubled and tripled down on my assertion that job openings would get to 10 million in this recovery. Job openings rose as high as to 12 million and are currently over 9 million. Even with the massive miss on a job report in May 2021, I didn’t waver.
Currently, the jobs openings, quit percentage and hires data are below pre-COVID-19 levels, which means the labor market isn’t as tight as it once was, and this is why the employment cost index has been slowing data to move along the quits percentage.
3. I wrote that we should get back all the jobs lost to COVID-19 by September of 2022. At the time this would be a speedy labor market recovery, and it happened on schedule, too
Total employment data
4. This is the key one for right now: If COVID-19 hadn’t happened, we would have between 157 million and 159 million jobs today, which would have been in line with the job growth rate in February 2020. Today, we are at 157,808,000. This is important because job growth should be cooling down now. We are more in line with where the labor market should be when averaging 140K-165K monthly. So for now, the fact that we aren’t trending between 140K-165K means we still have a bit more recovery kick left before we get down to those levels.
From BLS: Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.
Here are the jobs that were created and lost in the previous month:
In this jobs report, the unemployment rate for education levels looks like this:
- Less than a high school diploma: 6.1%
- High school graduate and no college: 4.2%
- Some college or associate degree: 3.1%
- Bachelor’s degree or higher: 2.2%
Today’s report has continued the trend of the labor data beating my expectations, only because I am looking for the jobs data to slow down to a level of 140K-165K, which hasn’t happened yet. I wouldn’t categorize the labor market as being tight anymore because of the quits ratio and the hires data in the job openings report. This also shows itself in the employment cost index as well. These are key data lines for the Fed and the reason we are going to see three rate cuts this year.
recession unemployment covid-19 fed federal reserve mortgage rates recession recovery unemploymentUncategorized
Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month
Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month
Last month we though that the January…
Share this:
Last month we though that the January jobs report was the "most ridiculous in recent history" but, boy, were we wrong because this morning the Biden department of goalseeked propaganda (aka BLS) published the February jobs report, and holy crap was that something else. Even Goebbels would blush.
What happened? Let's take a closer look.
On the surface, it was (almost) another blockbuster jobs report, certainly one which nobody expected, or rather just one bank out of 76 expected. Starting at the top, the BLS reported that in February the US unexpectedly added 275K jobs, with just one research analyst (from Dai-Ichi Research) expecting a higher number.
Some context: after last month's record 4-sigma beat, today's print was "only" 3 sigma higher than estimates. Needless to say, two multiple sigma beats in a row used to only happen in the USSR... and now in the US, apparently.
Before we go any further, a quick note on what last month we said was "the most ridiculous jobs report in recent history": it appears the BLS read our comments and decided to stop beclowing itself. It did that by slashing last month's ridiculous print by over a third, and revising what was originally reported as a massive 353K beat to just 229K, a 124K revision, which was the biggest one-month negative revision in two years!
Of course, that does not mean that this month's jobs print won't be revised lower: it will be, and not just that month but every other month until the November election because that's the only tool left in the Biden admin's box: pretend the economic and jobs are strong, then revise them sharply lower the next month, something we pointed out first last summer and which has not failed to disappoint once.
In the past month the Biden department of goalseeking stuff higher before revising it lower, has revised the following data sharply lower:
— zerohedge (@zerohedge) August 30, 2023
- Jobs
- JOLTS
- New Home sales
- Housing Starts and Permits
- Industrial Production
- PCE and core PCE
To be fair, not every aspect of the jobs report was stellar (after all, the BLS had to give it some vague credibility). Take the unemployment rate, after flatlining between 3.4% and 3.8% for two years - and thus denying expectations from Sahm's Rule that a recession may have already started - in February the unemployment rate unexpectedly jumped to 3.9%, the highest since February 2022 (with Black unemployment spiking by 0.3% to 5.6%, an indicator which the Biden admin will quickly slam as widespread economic racism or something).
And then there were average hourly earnings, which after surging 0.6% MoM in January (since revised to 0.5%) and spooking markets that wage growth is so hot, the Fed will have no choice but to delay cuts, in February the number tumbled to just 0.1%, the lowest in two years...
... for one simple reason: last month's average wage surge had nothing to do with actual wages, and everything to do with the BLS estimate of hours worked (which is the denominator in the average wage calculation) which last month tumbled to just 34.1 (we were led to believe) the lowest since the covid pandemic...
... but has since been revised higher while the February print rose even more, to 34.3, hence why the latest average wage data was once again a product not of wages going up, but of how long Americans worked in any weekly period, in this case higher from 34.1 to 34.3, an increase which has a major impact on the average calculation.
While the above data points were examples of some latent weakness in the latest report, perhaps meant to give it a sheen of veracity, it was everything else in the report that was a problem starting with the BLS's latest choice of seasonal adjustments (after last month's wholesale revision), which have gone from merely laughable to full clownshow, as the following comparison between the monthly change in BLS and ADP payrolls shows. The trend is clear: the Biden admin numbers are now clearly rising even as the impartial ADP (which directly logs employment numbers at the company level and is far more accurate), shows an accelerating slowdown.
But it's more than just the Biden admin hanging its "success" on seasonal adjustments: when one digs deeper inside the jobs report, all sorts of ugly things emerge... such as the growing unprecedented divergence between the Establishment (payrolls) survey and much more accurate Household (actual employment) survey. To wit, while in January the BLS claims 275K payrolls were added, the Household survey found that the number of actually employed workers dropped for the third straight month (and 4 in the past 5), this time by 184K (from 161.152K to 160.968K).
This means that while the Payrolls series hits new all time highs every month since December 2020 (when according to the BLS the US had its last month of payrolls losses), the level of Employment has not budged in the past year. Worse, as shown in the chart below, such a gaping divergence has opened between the two series in the past 4 years, that the number of Employed workers would need to soar by 9 million (!) to catch up to what Payrolls claims is the employment situation.
There's more: shifting from a quantitative to a qualitative assessment, reveals just how ugly the composition of "new jobs" has been. Consider this: the BLS reports that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Well, that's great... until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).
Here is a summary of the labor composition in the past year: all the new jobs have been part-time jobs!
But wait there's even more, because now that the primary season is over and we enter the heart of election season and political talking points will be thrown around left and right, especially in the context of the immigration crisis created intentionally by the Biden administration which is hoping to import millions of new Democratic voters (maybe the US can hold the presidential election in Honduras or Guatemala, after all it is their citizens that will be illegally casting the key votes in November), what we find is that in February, the number of native-born workers tumbled again, sliding by a massive 560K to just 129.807 million. Add to this the December data, and we get a near-record 2.4 million plunge in native-born workers in just the past 3 months (only the covid crash was worse)!
The offset? A record 1.2 million foreign-born (read immigrants, both legal and illegal but mostly illegal) workers added in February!
Said otherwise, not only has all job creation in the past 6 years has been exclusively for foreign-born workers...
... but there has been zero job-creation for native born workers since June 2018!
This is a huge issue - especially at a time of an illegal alien flood at the southwest border...
... and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding a more accurate explanation for what happened - i.e., the illegal immigration floodgates that were opened by the Biden admin.
Which is also why Biden's handlers will do everything in their power to insure there is no official recession before November... and why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get even more ridiculous.
Wendy’s has a new deal for daylight savings time haters
Watch Live: President Biden Reminds Americans Just How Good They’ve Got It Thanks To Him
Racial and Ethnic Wealth Inequality in the Post‑Pandemic Era
Wealth Inequality by Age in the Post‑Pandemic Era
Mortgage rates fall as labor market normalizes
Watch: President Biden Delivers The “Darkest, Most Un-American Speech Given By A President”
Shipping company files surprise Chapter 7 bankruptcy, liquidation
Interest rates, the best it gets. It’s time to deploy cash
Is the biotech market rally real? Data suggest comeback in private, public markets
People Who Received Ivermectin Were Better Off, Study Finds
-
Uncategorized2 weeks agoAll Of The Elements Are In Place For An Economic Crisis Of Staggering Proportions
-
Uncategorized1 month agoCathie Wood sells a major tech stock (again)
-
Uncategorized3 weeks agoCalifornia Counties Could Be Forced To Pay $300 Million To Cover COVID-Era Program
-
Uncategorized2 weeks agoApparel Retailer Express Moving Toward Bankruptcy
-
Uncategorized3 weeks agoIndustrial Production Decreased 0.1% in January
-
International1 day agoWalmart launches clever answer to Target’s new membership program
-
Uncategorized3 weeks agoRFK Jr: The Wuhan Cover-Up & The Rise Of The Biowarfare-Industrial Complex
-
Uncategorized3 weeks agoGOP Efforts To Shore Up Election Security In Swing States Face Challenges