The 6 Top Penny Stocks to Watch in June
After the stock market rallied at the end of April, some investors are still looking for a big payout. Here is a list of the six top penny stocks to watch in June.
While the stock market can still produce gains, they may not be enough, or you could miss them. In the last month, both the S&P 500 and Nasdaq hit record highs in the wake of some positive economic news and some better-than-expected corporate earnings reports.
Whether you didn't make enough in that rally or missed it completely, there is still money to be made on Wall Street. And some of it is in penny stocks.
Today, we're going to list the best penny stocks to watch this month based on their performance during the last week in April. These are simply stocks to put on your watch list, not necessarily to buy.
Top Penny Stocks to Watch in June No. 6: Nordic American Offshore
Nordic American Offshore (NYSE: NAO) is a Bermuda-based industrial company that owns and operates platform supply vessels. In other words, it's a shipper, and it primarily operates in the North Sea and U.K. regions.
Shares went up 53.59% to $4.70 per share at the end of April on no substantial news. However, the company did announce in early April that it just acquired 13 new vessels.
Top Penny Stocks to Watch in June No. 5: Workhorse Group
Workhorse Group (Nasdaq: WKHS) is an Ohio-based manufacturer that designs, builds and sells aircraft and battery electric vehicles (EVs) in the U.S. It has two divisions - aviation and automotive. It also develops and sells cloud-based solutions for fleet management.
Workhorse Group shares jumped 55.34% to $0.87 during the last week of April for no particular reason. Earlier in the month, the company announced that it was teaming up with Prefix Corp. to fine-tune the company's EV of the future. And now shares trade closer to $2.
Top Penny Stocks to Watch in June No. 4: Quorum Health Corp.
Quorum Health Corp. (NYSE: QHC) is a Tennessee-based healthcare company that owns and runs hospital and outpatient care facilities throughout the United States.
The company was incorporated in 2015 and currently either owns or leases 27 hospitals with roughly 2,600 beds. It also employs more than 8,600 full-time staff. In addition to the hospitals, it provides healthcare consulting, advisory and other services to nonaffiliated hospitals and some healthcare technology tools.
Quorum Health shares went up 65.71% to $1.74 per share at the end of April on essentially no news. However, in mid-April, the company announced that it had completed the sale of a 146-bed hospital in Texas for $22 million.
Top Penny Stocks to Watch in June No. 3: Regional Health Properties
Regional Health Properties (NYSE: RHE) is a Suwanee, Georgia, healthcare company that operates long-term care facilities through its various subsidiaries.
This is a self-managed real estate company that focuses on the healthcare industry. It currently leases, owns or manages 30 facilities with approximately 3,200 beds/units, mostly throughout the South.
Regional Health shares jumped 111% to $2.30 at the end of April. The news that prompted this was simply that the company was actively working on filing its annual 10-K report, which was already late.
Top Penny Stocks to Watch in June No. 2: Yuma Energy
Yuma Energy (NYSE: YUMA) is a Houston-based energy company that acquires, develops and explores resources for natural gas and oil throughout the Southeast.
The company has offshore assets in Texas and Louisiana as well as operations in the Bakken Shale in North Dakota and in Kern County, California.
Yuma shares jumped 120.89% to $0.39 during the last week of April. When contacted about this, the company's management confirmed that there had been no material changes to its operations and no other announcements to account for this spike.
Top Penny Stocks to Watch in June No. 1: United Microelectronics Corp.
United Microelectronics Corp. (NYSE: UMC) is based out of Taiwan, and it's one of our top penny stocks to watch.
United Microelectronics is that country's first to enter the semiconductor market and has been in this space since opening its doors in 1980. It now has operations across the globe and employs more than 20,000 people full time.
The company may not be a household name, but those in the sector know of it because it creates the integrated circuits that are needed for digital processing products. These are items manufactured and sold by companies like Nvidia (Nasdaq: NVDA).
This is a booming market due to several active industries, including 5G technology, crypto mining and exports, which have all created a massive demand for semiconductors.
This has created a windfall for a company like United Microelectronics, which reported $235 million in profit in 2018. This is a trend that is expected to continue, and investors have the opportunity to reap the rewards.
United Microelectronics shares currently trade around $2, which might be a bargain considering the company is in a growth industry. According to analysts on Wall Street, shares of United Microelectronics could rise another 50% over the next 12 months.
While these are all interesting penny stocks to watch, we don't recommend them as ones to buy since their catalysts for growth are in the past.
One of the best things about penny stocks is that they can produce incredible gains in a short period – on a small boost in the share price.