Penny stocks are often the best choice, if you can’t afford to invest big money, but want to receive hefty gains. While the experts caution that not all penny stocks bring profit, there are many more, which are hitting high.
Penny stocks are especially desirable now that the coronavirus pandemic paralyzed so many countries and businesses, and people are trying to save cash. They don’t cost much, and if chosen correctly, the results will be more than satisfactory. That’s why analysts advise grabbing Plug Power or Zix’s shares now.
Plug Power is a designer as well as a manufacturer of hydrogen fuel cells, a technology with the potential to replace conventional batteries. Hydrogen fuel cells can run at a constant power output, unlike batteries. Plug Power provides power cells for a fleet of electric mail delivery vehicles in Maryland. And it also has a deal with the USPS.
The stock has already provided guidance toward $300 million in billings for the current year. It is presently on track to achieve its goal of $1 billion in revenue by 2024. H.C. Wainwright’s analyst Amit Dayal raised his price target to $6.00 for this stock, which implies an upside of 63%.
Zix, on the other hand, is a small-cap cybersecurity company that specializes in providing safety for emails. The company has over 20,000 customers, and 30% of U.S. banks use its cloud app. Zix’s products allow loss prevention and data encryption for mobile applications.
Even though Zix’s earnings and revenue missed the forecasts in 2019, they both surpassed the previous year’s results. The top-line revenue reached $50.4 million, which was significantly higher than $18.5 million in the fourth quarter of 2018.
Analyst Nehal Chokshi from Northland Securities stated that the company has great potential. Zix’s product is widespread, and the company already owns a 22% share of the market. Chokshi’s offered price at $8 per share has a 100% upside.
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