Investor Alert

July 6, 2022, 9:38 a.m. EDT

Best Penny Stocks To Buy? 2 Analysts Have High Hopes For These 3

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Jul 06, 2022 (Penny Stocks via COMTEX) -- Ready to buy penny stocks but not sure where to begin? Assuming you understand the basics of trading penny stocks , your next step is finding some to trade. The best place to start is by creating a watch list. Disclaimer: If you're a seasoned pro, this section may be boring, so feel free to move on to the next section: Best Penny Stocks To Buy [according to analysts].

So how do you put together a list of penny stocks to watch? In most cases, identifying a particular theme can help focus your efforts. Let's say you found a company that just released big news, which was a catalyst for a significant price move. You might look for other penny stocks with news ; that's a theme.

What if you saw a paper company like Resolute Forest Products (NYSE: RFP ) acquired by another leading paper company like it did today? You might look at "sympathy" trade ideas, which may see sentiment-driven trading. In this case, it would be a focus on other paper product manufacturers.

The same idea holds regarding recent trends in the biotech sector. The bottom line is that there are plenty of thematic strategies to follow - even rumors or "Reddit stocks" - remember that the first place to begin is with a watch list.

Penny Stocks To Buy According To Analysts

This leads us to today's theme: penny stocks with a bullish analyst outlook. This article takes a deeper dive into a few companies that have seen a favorable view given by research firms. Though they aren't always accurate, analyst sentiment can help give you a bit more insight into specific companies and help add more detail to your due diligence process.

Best Penny Stocks To Buy [according to analysts]

  1. Inter & Co. Inc. (NASDAQ: INTR )

  2. Canaan Inc. (NASDAQ: CAN )

  3. LiveOne Inc. (NASDAQ: LVO )

Penny Stocks To Buy According To UBS: Inter & Co. Inc. /zigman2/quotes/236431295/composite INTR -13.13%

Brazilian-based Inter & Co recently listed its shares on the NASDAQ exchange in June. Its focus is on "Super App" development catering to financing and non-financial consumers in the US and Brazil. With more than 20 million customers, Inter & Co has funneled multiple offerings into a single application, including banking services, investments, insurance, and retail.

[Read More] What to Know About Buying Penny Stocks on July 6th

In a debut update, João Vitor Menin, Inter&Co's CEO, laid out the high-level plan for Inter & Co:

"We are proud of our technology, our team and our achievement of surpassing 20 million customers, but this is only the beginning. We believe the best is yet to come. As Inter&Co becomes a fully listed U.S. company, we will gain access to the largest capital market in the world, remaining focused on further strengthening our market and financial positioning while delivering profitable growth."

What do analysts think about INTR stock? A slew of ratings came out following the US debut of Inter & Co. One company, UBS, gave a Buy rating and slapped a $6 target on the penny stock. Based on the $3.02 close on July 5, that target is nearly 100% higher.

Penny Stocks To Buy According To HC Wainwright: Canaan Inc. /zigman2/quotes/215105791/composite CAN +1.63%

Cryptocurrency and blockchain technology stocks haven't fared well thanks to the Bitcoin crash in 2022. However, that doesn't mean operations have entirely ceased, and these businesses are shutting down. Bitcoin miner Canaan Inc., for example, is down but not out. In a recent update, the company revealed that it is actually spending money to buy back millions of outstanding warrants that would've otherwise added to potential dilution in the market.

US : U.S.: Nasdaq
$ 3.64
-0.55 -13.13%
Volume: 123,159
Sept. 26, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.68 billion
Rev. per Employee
US : U.S.: Nasdaq
$ 3.11
+0.05 +1.63%
Volume: 1.21M
Sept. 26, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$524.80 million
Rev. per Employee
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