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Penny Stocks To Buy Today? 3 To Watch With Analyst Targets Up To 675%

Penny stocks to buy according to analysts.
The post Penny Stocks To Buy Today? 3 To Watch With Analyst Targets Up To 675% appeared first on Penny Stocks…

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One of the best parts about penny stocks is that there are so many of them right now. Similar to what we saw during the pandemic, hundreds of companies had fallen victim to the broad sector sell-offs this year. It hasn’t only been “start-ups” either. Plenty of household name companies are trading below the $5 threshold.

Taking OTC penny stocks out of the equation still leaves hundreds of Nasdaq and NYSE listed companies trading at low prices. As of June 9th’s premarket session, more than 1,700 companies are sitting at $5 or less. This is, by far, one of the most significant counts of cheap stocks available to traders in the stock market today.

What does this mean for investors? For starters, it will likely introduce plenty of them to this volatile world of penny stocks. Some of the most recognizable companies, many a part of multi-million dollar SPAC deals in 2021, are facing the music of the 2022 stock market crash. But there’s hope, at least for traders right now. Penny stocks have offered up some of the most considerable potential for short-term gains compared to most other asset classes. Today we look at a few that analysts have become bullish on. They’ve even gone as far as setting price targets of up to 675%.

Penny Stocks To Watch

  1. Wejo Group Limited (NASDAQ: WEJO)
  2. ContraFect Corp (NASDAQ: CFRX)
  3. Bluejay Diagnostics Inc. (NASDAQ: BJDX)

1. Wejo Group Limited (NASDAQ: WEJO) $5 Target

It’s not often you see penny stock companies mixing with market leaders. However, it isn’t entirely out of the question either. Wejo Group is in the spotlight this week for exactly that reason.

The cloud and software analytics company specializes in connected, autonomous, electric vehicle data and just extended collaboration with a well-known tech company. Microsoft (NASDAQ: MSFT) and Wejo will expand an existing deal with Microsoft Maps. The agreement aims to facilitate Microsoft’s ability to gain real-time insight from Wejo data and improve mapping capabilities overall.

While no financial specifics of the expansion were detailed in today’s update, traders have reacted bullishly during premarket trading. What’s more, WEJO stock will be joining the Russell 3000 Index on June 27th, which could be something traders are following right now.

[Read More] What to Know About Buying Penny Stocks on June 9th

WEJO Stock Forecast

What do analysts think about WEJO stock? Several firms are covering the penny stock. However, the latest rating from Baird puts a bullish outlook with an Outperform rating. There’s also a $5 target, which sits 123% higher than its closing price on June 8th.

2. ContraFect Corp (NASDAQ: CFRX) $9 Target

The clinical-stage biotech company, ContraFect has gained significant momentum this year. Most of the focus has been on its pipeline candidates, namely its direct lytic agents (DLAs) development. In an update earlier this week, ContraFect announced vital presentations at the upcoming ASM Microbe 2022 Conference this weekend.

ContraFect presents two posters at the conference that cover its Breakthrough Therapy designated candidate, exebacase. The treatment is in a pivotal Phase 3 study right now. It has previously shown bactericidal activity against Staph aureus (MRSA).

Looking ahead, July could be an important month for the company. In its first-quarter update, CEO Roger Pomerantz, M.D., said, “We turn our attention to the interim futility analysis, which…will enable the Data Safety Monitoring Board, or DSMB, to assess the probability for exebacase to achieve superiority on the primary efficacy endpoint of the study. Once the data necessary for this analysis is collected, processed, and delivered to the DSMB, we will be informed of their recommendation regarding study continuation. We expect this to occur during the first week of July.”

If the response is positive, the company said it would move toward a potential Biologics License Application submission.

CFRX Stock Forecast

Several analyst firms are covering CFRX stock. The most recent update from SVB Leerink places an Outperform rating and a $9 target on the stock. Though this target is down from the previous $14 PT, it remains 130% higher than June 8th’s closing price.

penny stocks to buy now analyst forecast ContraFect Corp CFRX stock chart

3. Bluejay Diagnostics Inc. (NASDAQ: BJDX) $10 Target

Last on this list of penny stocks is one of Thursday’s high-flyers, Bluejay Diagnostics. Biotech stocks, in general, haven’t been in the best favor of the stock market this year. Look at the Nasdaq Biotech ETF (NASDAQ: IBB), and you’ll see what I’m talking about. The IBB dropped as much as 30% this year in the wake of the stock market crash.

Regardless, the trend hasn’t stopped short-term breakouts in different pockets of the sector. Bluejay Diagnostics caught a strong surge of momentum this week, thanks to milestone news. The company announced that the FDA agreed to consider its plan to pursue a De Novo submission for its Symphony IL-6 Test. This test is under development for near-patient testing to determine the proper care and monitoring processes.

Adding to the excitement were comments from CEO Neil Dey giving a rough timeline of a potential marketing application submission to the FDA. Dey said, “This confirms our belief that the Bluejay Symphony IL-6 Test has the potential to provide an innovative solution to the market. Bluejay continues to advance the Symphony IL-6 Test towards the Company’s anticipated marketing application with the FDA, expected by year-end 2022.”

BJDX Stock Forecast

What do analysts think about BJDX stock? If analysts at Dawson James are to be believed, there could be much more to look out for with this penny stock. That’s not only based on the firm’s Buy rating but also a price target 675% higher than Wednesday’s closing price. Dawson James has its target set at $10 right now.

penny stocks to buy now analyst forecast Bluejay Diagnostics BJDX stock chart

Best Penny Stocks To Buy

Analyst ratings can be great to use as part of your overall due diligence process. However, they shouldn’t be the only tool to use. News, filings, and even retail sentiment can play a large part in different stock market trends. For that reason, it’s important to dive deeper and then determine if certain stocks should earn a place on your watch list or not. Today we looked at 3 with optimistic outlooks from analysts. Will they become the next round of top penny stocks to buy in June, or did analysts miss the mark? Let us know in the comments section.

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The post Penny Stocks To Buy Today? 3 To Watch With Analyst Targets Up To 675% appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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FTSE 100 gains as commodity-linked stocks bounce back

The commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3% UK’s FTSE 100 gained on Monday, as an easing of COVID-19 restrictions…

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The commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3%

UK’s FTSE 100 gained on Monday, as an easing of COVID-19 restrictions in China brought relief to commodity prices, lifting shares of major oil and mining companies.

As of 0704 GMT, the commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3%.

The risk sentiment improved after a Wall Street rally late last week and a rebound in copper and iron ore prices on Monday, boosted by an easing COVID-19 restrictions in Shanghai and relaxed testing mandates in several Chinese cities.

The burst of global enthusiasm for equities has put a spring in the step of the FTSE 100 at the start of the week, Hargreaves Lansdown analyst Susannah Streeter said.

Mining stocks led gains on the FTSE 100 index, with Anglo American, Rio Tinto and Glencore rising more than 3%, after Group of Seven leaders pledged to raise $600 billion private and public funds in five years to finance needed infrastructure in developing countries.

It is hoped this scheme, seen as a counter to China’s Belt and Road Initiative, will set off a spurt of spending and demand for commodities around the world, Streeter added.

Among individual stocks, CareTech surged 20.8% after the UK-based provider of care and residential services agreed to be acquired by a consortium led by Sheikh Hoidings in an 870.3 million pounds ($1.07 billion) deal.

Carnival Corp jumped 5.6%, extending its Friday gains after the leisure travel company forecast a positive core profit for the current quarter despite surging costs.

London-listed shares of Rio Tinto added 2% after a U.S appeals court ruled that the federal government may give the UK copper miner a right to lands in Arizona.

BAE Systems inched up 0.4% after the defence company received a $12 billion contract from the U.S Department of Defence.

The post FTSE 100 gains as commodity-linked stocks bounce back first appeared on Trading and Investment News.

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Structural racism drives higher COVID-19 death rates in Louisiana, study finds

COLLEGE PARK, MARYLAND–Disproportionately high COVID-19 mortality rates among Black populations in Louisiana parishes are the result of longstanding…

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COLLEGE PARK, MARYLAND–Disproportionately high COVID-19 mortality rates among Black populations in Louisiana parishes are the result of longstanding health vulnerabilities associated with institutional and societal discrimination, according to research conducted by an interdisciplinary team under the mentorship of University of Maryland (UMD) Clark Distinguished Chair Deb Niemeier and UMD Associate Professor of Kinesiology Jennifer D. Roberts in the School of Public Health. 

Credit: Guangxiao Hu, Nora Hamovit, Kristen Croft, Jennifer D. Roberts, and Deb Niemeier, University of Maryland.

COLLEGE PARK, MARYLAND–Disproportionately high COVID-19 mortality rates among Black populations in Louisiana parishes are the result of longstanding health vulnerabilities associated with institutional and societal discrimination, according to research conducted by an interdisciplinary team under the mentorship of University of Maryland (UMD) Clark Distinguished Chair Deb Niemeier and UMD Associate Professor of Kinesiology Jennifer D. Roberts in the School of Public Health. 

The team included doctoral students from three different programs at UMD, working together as part of an interdisciplinary fellowship program known as UMD Global STEWARDS, directed by Professor Amy R. Sapkota of the School of Public Health.

“Our results suggest that structural racism and inequities led to severe disparities in initial COVID-19 effects among highly populated Black Louisiana communities, and that as the virus moved into less densely populated Black communities, similar trends emerged,” the researchers concluded in a study published in the Proceedings of the National Academy of Sciences on Monday, June 27. 

Over the course of generations, discrimination in employment, education, housing, and access to medical care has led to higher risks of chronic illnesss (including asthma, diabetes, and obesity) among Black communities, as well as a higher likelihood of suffering a stroke, the authors noted. The Centers for Disease Control and Prevention (CDC) have linked these factors to the likelihood of becoming severely ill from COVID-19.

Both nationally and in Louisiana, Black communities encounter inadequate housing and lower rates of home ownership, reduced access to health care, and lower rates of employment. As exemplified by Cancer Alley, Black families are more likely to live in so-called “fence-line” neighborhoods, located near industrial facilities that expose them to pollutants, and typically encounter reduced air and water quality compared to white Americans. Black families are also more likely to be uninsured and face higher rates of unemployment. These and multiple other factors, all reflecting decades of institutional and societal bias, add up to a combination of stressors that undermine health and, in the case of COVID-19, have made Black communities particularly vulnerable.

To obtain their findings, the team members identified the spatial distribution of social and environmental stressors across Louisiana parishes, and used hotspot analyses to develop aggregate stressors. They then tracked the correlations among stressors, cumulative health risks, COVID-19 mortality rates, and the size of Black populations across Louisiana. The results suggest that COVID-19 mortality rates initially spiked in Black communities with high population densities and moderate levels of aggregate stress. Over time, the rates also increased in less densely populated Black communities with higher levels of aggregate stress.

“We find that Black communities in Louisiana parishes with both higher and lower population densities experience higher levels of stressors leading to greater COVID-19 mortality rates,” the researchers wrote. “Our work using the COVID-19 pandemic, particularly as observed in Louisiana, makes clear that communities with high levels of social, economic, and environmental racism are significantly more vulnerable to a public health crisis.”

The study lead authors include UMD graduate students Kristen Croft (Department of Civil and Environmental Engineering). Nora Hamovit (Department of Biology), and Guangxiao Hu (Department of Geographical Sciences), who worked together on the study as part of the UMD Global STEWARDS (STEM Training at the Nexus of Energy, WAter Reuse and FooD Systems) training fellowship program, which is funded by the National Science Foundation (NSF).

Allen P. Davis, Professor of Civil and Environmental Engineering, is a co-PI for the UMD STEWARDS program, which aims to bring together graduate students from a wide variety of backgrounds to work on collaborative projects. “Each student brings their own area of expertise to the table, resulting in synergy,” Davis said. “That kind of synergy is something you might not get in other disciplinary studies.”

The value of such an approach was evident in the collaboration among the three students.  “As a human geographer, my main focus was on the spatial disparities of structural racism and inequities and their effects on COVID-19 mortalities,” Hu said. “Using hotspot analysis, we identified two groups of parishes with high or low population densities located at different regions of Louisiana. Our research provides policy makers with very useful insights about the disproportionate burden of Black communities and the nonstationary distribution of this disproportion across Louisiana.”

Hamovit performed the initial data analysis that yielded stressor index calculations, which Hu then utilized for hotspot analysis. “Because my PhD research involves large and complex data sets I brought a strength of data organization and analysis to our team,” Hamovit said. Croft played a key role in defining the research topic and utilized her background in stormwater research to pinpoint specific variables that could have a bearing on health. 

Faculty mentors included Niemeier and Roberts. Niemeier, who joined the UMD civil and environmental engineering faculty in 2019 as the inaugural Clark Distinguished Chair, is an internationally-recognized expert on the equity impacts of infrastructure and engineering decisions. She is a member of the National Academy of Engineering and, in 2021, was elected to the American Philosophical Society. Her work, which details how marginalized communities are affected by vehicle emissions, development patterns, climate change, and approaches to disaster preparation and recovery, has helped spur policy and regulatory reforms.

Roberts is founder and director of the  Public Health Outcomes and Effects of the Built Environment Laboratory at UMD. She is also co-founder and co-director of NatureRx@UMD. Her scholarship focuses on the impact of built, social and natural environments, including the institutional and structural inequities of these environments, on physical activity and public health outcomes of marginalized communities. Roberts was recently named to the National Academy of Science’s Response and Resilient Recovery Strategic Science Initiative Strategy Group on COVID-19 and Ecosystem Service in the Built Environment.

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Consumer Spending Is Shifting: Should You Still Buy Lowe’s Stock?

Is this is good opportunity to buy the dip in Lowes stock that owns a duopoly in the home improvement industry?
The post Consumer Spending Is Shifting:…

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Lowe’s stock was one of the biggest winners during the pandemic. This is because the pandemic gave Americans two things: stimulus checks and lots of free time. With a little spare cash and nothing to do, people were inspired to tackle projects around the house. But, of course, no project can be completed without a trip to Lowe’s. Two years later, the pandemic quarantines are finally all but over and Lowe’s stock is down 30% YTD. Is this is good opportunity to buy the dip in a company that owns a duopoly in the home improvement industry? Let’s take a look.

Lowe’s (NYSE: $LOW) Most Recent Earnings

If you’re not familiar, Lowe’s is one of the largest home improvement retail chains in the world. In 2021, Lowe’s operated 2,197 stores across the United States and Canada. It is the second-largest hardware chain in the world behind The Home Depot. Together, The Home Depot and Lowe’s own the majority of the home improvement market. When just two companies control the market, it’s known as a duopoly.

In April, Lowe’s reported quarterly revenue of $23.66 billion for FY Q2 2022. This was down 3% from last year. Lowes also reported a net income of $2.33 billion which was up just 0.5%. Lowe’s also pays a dividend yield of 2.27%.

The last three quarters haven’t been particularly impressive for Lowe’s. Here’s one reason why.

Tough YoY Comparisons

The pandemic created a nightmare scenario for many businesses. But, as mentioned, home improvement retailers actually faired quite well. In particular, Lowe’s experienced a 24% spike in revenue, from $72.15 billion to $89.6 billion. This is impressive for a massive company like Lowe’s which already operates over 2,000 stores. Consequently, Lowe’s stock rose nearly 120% from 2020 to its all-time high in 2022.

Now, the quarantine pandemics are mainly over. Consumer spending is shifting away from home improvement towards other categories such as travel and dining out. This transition isn’t necessarily hurting Lowe’s sales, but it’s not helping either. The toughest thing for Lowe’s stock right now is the tough year-over-year comparisons. Since Lowe’s had such a stellar 2021, 2022 looks very average by comparison. This trend could continue through the rest of the year.

Lowe’s essentially had a 4.0 GPA in 2021. In 2022, it’s earning a 3.75 GPA. Still good, but not when you compare it to a 4.0.

Fortunately for shareholders, Lowe’s has a plan in place to start growing again.

Lowe’s 2022 Strategy

In 2022, Lowe’s strategy is to go after the professional market. This means that it wants to focus on serving customers that own construction businesses, as opposed to do-it-yourselfers.

Lowe’s estimates that the professional market is worth approximately $450 billion. If it can expand this segment of its business then it should be able to start growing revenue again. Part of its plan to grow this segment is to institute professional services in its stores including loaders, drop zones, and an entirely separate customer relationship management (CRM) software.

On top of that, here are three other factors that Lowe’s thinks will accelerate its business:

  • Increased wear and tear on homes due to remote work
  • Baby Boomers deciding to age in their home
  • Strong home price appreciation

Additionally, Lowe’s is in the process of transitioning to an omnichannel strategy. This type of strategy means that Lowe’s customers will be able to buy products online, pick them up curbside, as well as buy them in a store. Lowe’s enhanced digital experience will even allow customers to enjoy next-day (or even same-day) order fulfillment.

Omnichannel strategies have been particularly effective for other major retailers. In particular, Dick’s Sporting Goods has had a lot of success with an omnichannel strategy. Offering customers more ways to shop helps improve the customer experience, which typically leads to more sales.

Final Thought: Should You Buy Lowe’s Stock?

Lowe’s has an incredibly strong business and is a runner-up in a large market. The DIY home improvement market has been growing for years and is proven to be pandemic-resistant. These are both strong reasons to consider buying Lowe’s stock.

Additionally, since Lowe’s stock has had a dismal start to 2022, its valuation has improved. Lowe’s now has a price-to-earnings ratio (14.5) that is lower than its rival The Home Depot (17.9). This metric could be a sign that Lowe’s is valued more cheaply relative to The Home Depot. However, P/E ratios often don’t tell the full story.

Another reason to consider buying Lowe’s stock is that its management team is committed to  providing value to shareholders over the long run. This is evident through Lowe’s stock repurchase plan and strong dividend payments. Lowe’s plans to repurchase $12 billion in stock during 2022 and pays a 2.30% dividend yield. In general, companies don’t repurchase shares of stock unless the business is performing incredibly well. This is a sign that Lowe’s stock is a relatively safe bet for investors.

The biggest thing to be aware of before buying Lowe’s stock is the risk of inflation damaging its business.

What’s inflation risk?

Lowe’s sells lots of products that rely directly on raw materials. For example, it sells plywood and a number of other lumber products, plenty of steel products, fertilizers, etc. Right now, the prices of most raw materials are skyrocketing. If this doesn’t let up, it could squeeze Lowe’s profit margins and reduce its profitability. Or, it could force Lowe’s to increase its prices which could potentially hurt Lowe’s sales.

A few major retailers have already been hurt by inflation. Notably, Target. Target’s costs have increased but it has so far refrained from raising prices, so as to not alienate customers. This is one of the main reasons that Target’s stock slumped 30% in May. If you are considering buying Lowe’s stock, be sure to keep this inflation risk in mind.

I hope that you’ve enjoyed this Lowest stock forecast! Please remember that I’m not a financial advisor and just offer my own research and commentary. As usual, please base all investment decisions on your own due diligence.

The post Consumer Spending Is Shifting: Should You Still Buy Lowe’s Stock? appeared first on Investment U.

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