With November almost over, plenty of penny stocks continue gaining momentum. Although it can be difficult to stumble upon the best penny stocks to buy, with a proper trading strategy, it can be much easier than previously imagined. In addition, one of the important steps that many traders fail to take is having a thorough understanding of their own trading strategy.

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Things like knowing what your risk tolerance and setting proper price targets become even more important when it comes to investing in penny stocks. Obviously, getting the basics down is step one. The next is researching some stocks to add to your watch list. Using recent corporate filings, news, rumors, and yes, social media are all ways to find your initial watch list stocks. From there, look at each company’s specific news and potential catalysts to narrow your search. In this article, we take a look at five penny stocks to watch this week that gained some attention thanks to popular social media platforms like Reddit and Twitter.

• Vinco Ventures Inc. (NASDAQ: $BBIG)
• Sesen Bio Inc. (NASDAQ: $SESN)
• Farmmi Inc. (NASDAQ: $FAMI)
• Inspira Technologies (NASDAQ: $IINN)
• REE Automotive (NASDAQ: $REE)

Vinco Ventures Inc. is a penny stock that has climbed by over 140% in the last YTD period despite a less than stellar trading pattern in the past few weeks. This is a penny stock that we have previously mentioned due to its consistent market momentum and constant trending nature. If you’re not familiar, Vinco is a distributor of digital media and content. It holds several subsidiaries such as ZASH Global Media and Entertainment as well as an 80% interest in Lomotif Private Limited. In the past year and a half, the demand for digital content has risen substantially as a result of more people being at home than ever before. And because of this, Vinco has continued to see heightened attention.

On November 1st, the company’s subsidiary Cryptyde announced the formation of a new joint venture. CW Machines LLC is the name of the company’s joint venture with Wattum Management. Wattum is a market leader in BTC mining equipment and services. The joint venture’s goal is to make Bitcoin mining equipment more accessible to consumers by incorporating smart contract technologies.

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On November 22nd, the company announced its Q3 2021 financial results. In the results, the CEO of Vinco Ventures Lisa King, stated that “We are very pleased with our operational developments in the quarter, which included key building blocks of our strategy to create a global media and content platform.” As for the financial results, the company ended the quarter with a high cash balance of almost $150 million despite a decrease of 11% in its revenue. While the results were not ideal, we do have to consider the effects of the pandemic. Keeping this in mind, will BBIG stock make your watchlist in mid-November?

Sesen Bio Inc. is a biotech penny stock that develops targeted fusion protein treatments. The majority of its products are designed to help cancer sufferers. Its Vicinium product is now in Phase 3 clinical studies for the treatment of bladder cancer. The company is also developing Vicinium in collaboration with AstraZeneca’s checkpoint inhibitor to treat squamous cell carcinoma of the head and neck.

Sesen released its third-quarter 2021 results on November 8th. As of the conclusion of this quarter, it had $175.3 million in cash, cash equivalents, and restricted cash, compared to $55.4 million on December 31st, 2020. Year on year, the company’s R&D costs fell from $10.2 million to $5.2 million. This was due to cheaper costs connected with technology transfer and production, which were somewhat offset by higher licensing payments.

“Our team is making progress in advancing our dialogue with the FDA as we work toward potential resolution of the issues raised in the CRL for Vicineum, as demonstrated by our recent CMC Type A Meeting with the agency. We remain dedicated to saving and improving the lives of patients, and we look forward to continuing to work collaboratively with the FDA in our upcoming Clinical Type A Meeting, expected later this year, to carry our mission into the next stage of the regulatory process and beyond.” - President and CEO of Sesen Bio, Thomas Cannell

Although shares of SESN stock dropped substantially following a less than stellar meeting with the FDA back in August, they have since begun to rise. Whether this makes SESN a contender for your list of penny stocks to watch is up to you.

Farmmi Inc. is an agriculture-based company that offers a variety of edible fungi. This includes shiitake mushrooms and other culinary mushrooms. In addition, it sells bamboo fungus, agrocybe aegerila, and a variety of other organisms. Its products are sold through its Farmmi Jicai online store as well as through traditional methods to restaurants, retailers, and distributors.

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On November 15th, the company released a new update. It stated that its subsidiary, Zhejiang Farmmi Biotechnology Co. Ltd. won a new product order. This new order is for dried black fungus to be exported to Vancouver, Canada by the customer. The order is one of many recent export deals that Farmmi has earned in 2021 so far. Moving forward, it will be interesting to see if any more of these deals take place before the end of the year.

“We continue to execute on our multi-pronged growth strategy, as we leverage our brand, premium agriculture product line, and global supply chain relationships. We have benefited from steady growth in 2021 and expect year-over-year growth compared to 2020, with 2022 even better based on customer demand indications. At the same time, we remain focused on unlocking value as we help Farmmi realize its true potential.” - The CEO and Chairwoman of Farmmi, Ms. Yefang Zhang

Again, FAMI stock has not had the best performance in the past year. However, it is the subject of many Reddit forms and thus has seen high popularity several times in recent trading sessions. While this does make FAMI stock highly volatile, it could also make it worth keeping an eye on. Considering that, will it be on your penny stocks watchlist or not?

Shares of Inspira Technologies experienced an explosive move closing out the week last week. IINN stock jumped from under $3 to over $4.50 during the final hour of trade as above-average volume pulled shares higher. As we know, one of the biggest catalysts last week was the new virus variant, which tore through markets swiftly on Friday. While many company’s felt the negative impact of this new variant, others saw the exact opposite.

Inspira’s focus on respiratory support technology may have helped add to the bullishness last week. With the virus wreaking havoc on the respiratory system, overall, traders shifted focus to related stocks. Inspira’s Augmented Respiration Technology (ART) platform is designed to recalibrate oxygen saturation levels in patients.

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Earlier this year Inspira selected GlobalLogic to develop software for its respiratory support system functioning as an artificial lung. In the corresponding October press release, the company further made mention to COVID-19 patients and how the ART device could help those diagnosed with the virus. Given the state of the stock market right now, many companies, including Inspira, have gained attention as this new virus variant consumes headlines. So it will be interesting to see how things unfold with the week ahead.

Then again, it may not be all about the virus in some respects. You can’t ignore the growing trend in green energy stocks. REE Automotive has steadily gained attention in late-November thanks to increased awareness of companies targeting zero-emission vehicles. REE has developed its “REEcorner” technology packs, offering EV manufacturers an option for modular and scalable mobility components to implement in their end products.

In fact, REE stock came into focus toward the end of the month thanks to a LinkedIn correspondence between REE’s CEO, Daniel Barel, and Carlton Rose, President, Global Feel Maintenance & Engineering at UPS. This was in response to Barel’s post about the company’s new Leopard last-mile autonomous delivery solution for e-commerce.

“REE is an amazing company that will have a tremendous impact in the industry. My team and I engaged with them in Israel mid 2019 and they shared their vision, and we shared the UPS vision. REE lead by Daniel Barel understands what the present and future technologies must be to make Last Mile delivery successful and cleaner. I’m looking forward to what’s possible.” – Carlton Rose

With this apparent relationship, there’s been speculative momentum building around REE stock. The question is whether or not virus skepticism will overshadow other trends in the stock market at the start of the week.

If you’re looking for the best penny stocks to buy in 2021, there are plenty of options to choose from. However, because there are so many choices, it can be overwhelming at times. But, with so much bullish momentum in the stock market right now, making money with penny stocks is entirely possible. Considering that, which penny stocks are on your watchlist right now?

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What’s going on in the stock market today? Earlier this week, we were heading into the holiday nearing record-high levels. Countless penny stocks were red hot, and retail traders were reaping the rewards before Black Friday. Now, on the actual day of discounts, stocks have given the market lower prices too. Why is the stock market down today?

Over the Thanksgiving holiday, news emerged on a new virus variant. I don’t have to explain the magnitude of the 2020 pandemic for you to understand exactly why some are afraid of what’s to come.

So what happened and why the knee-jerk reaction in markets? A new, heavily mutated virus of the one we’ve come to know over the last year has emerged with confirmed cases primarily concentrated in one area of South Africa. This new variant called B.1.1.529 is expected to be given a Greek code-name like other variants. According to reports from the BBC, Prof Tulio de Oliveira, the director of the Centre for Epidemic Response and Innovation in South Africa, explained that there was an “unusual constellation of mutations.” Professor de Oliveira also said that it is “very different” from other variants that have circulated.

“This variant did surprise us, it has a big jump on evolution [and] many more mutations that we expected.”

Keep in mind that more mutation doesn’t particularly mean that this is a “worse” form of the virus. But it is essential to know what the mutations are and what it’s doing to the virus. Beta was a considerable concern early on, but that took a back seat to the faster-spreading Delta. As far as what’s to come, however, it’s still too early to tell. We know right now that over 80 cases have been fully confirmed, including in South Africa, Botswana, Hong Kong, and Israel.

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Meanwhile, The World Health Organization (WHO) said it might be a few weeks until it can understand the real impact of the new variant, including how transmissible it is.

Keep in mind that areas worldwide have already begun engaging in new restriction measures, including Austria going back into lockdown amid a surge of virus cases in Europe. Meanwhile, Germany’s report of thousands of new cases prompted government officials to bring the idea of lockdowns back into the conversation. Recent travel bans have also been initiated. The European Union, Singapore, and other countries have begun pausing travel to or from the South African region.

All of this has shaken the stock market today. But that doesn’t mean it’s all doom and gloom. In fact, some of the companies that flourished during the pandemic are now back in the spotlight. This includes a slew of penny stocks to watch right now.

• XpresSpa Group Inc. (NASDAQ: $XSPA)
• Geovax Labs Inc. (NASDAQ: $GOVX)
• iBio Inc. (NASDAQ: $IBIO)
• Oragenics Inc. (NYSE: $OGEN)
• NovaBay Pharmaceuticals (NYSE: $NBY)
• SiNtx Technologies (NASDAQ: $SINT)
• Chembio Diagnostics Inc. (NASDAQ: $CEMI)

Those who’ve traded penny stocks for a while have probably become familiar with XpresSpa Group Inc. (NASDAQ:XSPA). It was best-known for its retail outlets in airports offering light spa services. With the onset of the pandemic, it focused on using its unique positioning to provide an outlet for virus testing. Though the last year has been volatile, the latest surge in uncertainty has boosted sentiment surrounding XSPA stock. Analysts at HC Wainwright recently lifted their target from $3.50 to $4 on the penny stock.

In its latest quarterly update, CEO Doug Satzman explained, “Having already launched our Treat website and mobile app, we are now focused on opening our first Treat In-Airport Wellness Centers. Treat at JFK Terminal 4 is scheduled to open next month, while Treat at Phoenix Sky Harbor is now scheduled during the first quarter of next year. Additional location openings are planned for 2022 and 2023.”

With the chances of more testing becoming a core focus in preventing the spread of any new variants, XSPA could be one of the penny stocks to watch.

Similar to XSPA, shares of GOVX stock have also experienced a volatile year in 2021. The stock has bounced around most of the year after kicking things off with a rally to highs of over $8.70 in the first quarter. Geovax Labs Inc. (NASDAQ:GOVX) factors into this whole virus niche thanks to the development and ongoing studies of a preventative vaccine. In its latest presentation at the Vaccine World Asia Congress, the company highlighted its platform and the ability to induce broader immunity.

Earlier this month, the company entered into a license agreement with City of Hope. The deal grants GeoVax exclusive rights to develop and commercialize its COH0451 platform targeting the SARS-CoV-2 virus. There’s currently a trial comparing COH0451 to Pfizer’s (NYSE: $PFE) mRNA vaccine.

Shares of iBio Inc. (NASDAQ:IBIO) have also spiked early on Black Friday. With vaccine stocks in a bright spotlight, certain stocks that have been quiet are waking up a bit. IBIO is one of these and maybe a warm welcome to those who’ve endured a rough year so far. Year-to-date, shares are down over 30%, but the latest surge of interest in vaccine stocks has triggered a rebound (for now).

iBio is a biopharmaceutical company focusing on its FastPharming Manufacturing System. Among the therapeutics the company has developed, its IBIO-202 targets the COVID-19 virus. iBio has already submitted a pre-IND package to the FDA and anticipates a response “in the coming months.”

Like iBio, Oragenics Inc. (NYSE:OGEN) has been very quiet over the last few weeks. However, the uptick in virus anxiety has brought some new interest to the penny stock this week. Black Friday saw shares of OGEN stock perk up early, thanks to this.

Oragenics falls into the vaccine niche of this list of virus stocks. The company has worked on the development of its Terra CoV-2 platform. This is a candidate to prevent variants of SARS-CoV-2.

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Late last quarter, the company began a Challenge study to evaluate multiple formulations of its vaccine candidate. What’s more, results are expected this month. So, with the clock ticking down in November and new pressure coming from this latest variant, OGEN stock could be one to watch.

Though vaccine stocks are in a very bright light right now, you can’t forget about the rest of the virus ecosystem. Early on in 2020, companies providing personal protective equipment flourished. This included companies like NovaBay Pharmaceuticals (NYSE:NBY). Shares of NBY stock surged to highs of nearly $2 last year, and in 2021, virus concerns during the first quarter helped give the penny stock a boost back to highs of almost $1.80.

Since then, NovaBay has gradually slid back below $1. But this latest interest in the African variant has reignited attention on PPE stocks. Shares of NovaBay have been on the move this week, jumping from around 45 cents on Wednesday to highs of $0.55 so far. The company’s main business focuses on consumer products for eye care. However, it’s currently benefiting in the stock market today thanks to its offering of KN95 masks during the pandemic. With the first line of defense, so to speak, being addressed by PPE, NBY stock could be one to watch as virus concerns reemerge.

Similar to NovaBay, SiNtx Technologies (NASDAQ:SINT) is another one of the potential PPE stocks to watch right now. The company specializes in ceramics for medical and non-medical applications. Where does it fall into the virus niche right now?

Its silicon nitride powder and antimicrobial fabrics platform has been applied to PPE. In particular, SiNtx’s Flex SN-AP masks have shown antipathogenic activity against viruses, including SARS-CoV-2. With an uptick in new variants and global cases, SINT could be one of the penny stocks to watch right now.

Then you’ve got other companies in the virus ecosystem that don’t focus on vaccines or PPE. These are companies like Chembio Diagnostics Inc. (NASDAQ:CEMI) that develop diagnostic tests. It develops point-of-care tests used in the rapid detection of infectious diseases. These diseases include things like STDs, insect diseases, tropical diseases, and, yes, COVID-19.

Earlier this month, Chembio announced the submission of an emergency use authorization application to the FDA for its new dual path antigen test. The minimally invasive nasal swab was designed to detect antigens in 20 minutes. Richard Eberly, Chembio’s President and Chief Executive Officer, also said, “We are pleased to have completed the submission, which we view as a testament to our team’s dedication and technical expertise. Again, we would like to extend our gratitude to BARDA for their continued guidance and support throughout this process. We look forward to working closely with BARDA and the FDA to bring patients and health care workers the benefits of the DPP SARS-CoV-2 Antigen test system.”

With new variants and spreading cases globally, virus stocks are in the mainstream conversation right now. Considering what we learned from the last few bouts of speculative trading, it will be interesting to see how long this latest trend lasts in the stock market. Regardless, it has become prevalent on Black Friday and could be a trend to follow heading into the weekend.

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If you’re looking for penny stocks to buy right now, I’m sure you’ve looked at some of the hot trends in the stock market today. We’ve discussed plenty of them in November too. Whether it’s the latest round of short squeeze penny stocks, meme stocks, popular penny stocks on Webull, or the latest metaverse stocks, there’s no shortage of themes. However, don’t forget some of the fundamentals. There’s something to be said about companies that may not be “trendy” but have business models highly valued by investors and analysts.

Though things like analyst ratings aren’t the only thing to use for research, they can help give some deeper insight into how Wall Street feels about specific companies. This brings us to today’s list of penny stocks: those with bullish ratings and price targets. The last few months have seen market analysts focus on more than just the top stocks like Tesla (NASDAQ: $TSLA) or Amazon (NASDAQ: $AMZN). Many are following some of the smaller companies, and yes, that includes penny stocks.

• Matinas Biopharma Holdings Inc.(NYSE: $MTNB)
• Xeris Biopharma Holdings Inc.(NASDAQ: $XERS)
• Phunware Inc.(NASDAQ: $PHUN)
• Verb Technology Company Inc.(NASDAQ: $VERB)
• Progenity Inc.(NASDAQ: $PROG)

Matinas has enjoyed a solid end of the year so far. In early September, shares of MTNB stock traded around 80 cents. Since then, the penny stock has jumped above the $1 mark. Matinas focuses on therapeutic delivery methods. In particular, its intracellular delivery method is in development for critical therapeutic delivery using its lipid nanocrystal platform. Early data have already shown this to provide solutions to complex hurdles that’ve been encountered with current methods. Its MAT2501 candidate, for example, dosed its first patient in a Phase 1 trial with complete enrollment anticipated in the second quarter of 2022.

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It’s earnings season, and in line with that, Matinas’ recent news came in the form of a quarterly update. The company highlighted several key advancements, including new board additions and favorable safety and efficacy data in its EnACT study of its MAT2203 platform in treating cryptococcal meningitis. DSMB evaluation and cohort progression assessment are expected by the end of 2021. Matinas also said that it plans to meet with the FDA next month to review data and discuss the potential for approval of MAT2203.

HC Wainwright analysts are bullish on MTNB stock based on their most recent rating. The firm has a Buy on the penny stock along with a price target of $3. Based on November 15’s closing price of $1.17, that target is 156% higher right now.

Shares of Xeris Biopharma have been climbing for the last few sessions. Thanks to a surge of interest in stocks with insider buying, XERS has gained some added interest. The company specializes in treatment development in endocrinology, neurology, and gastroenterology. Its recent collaboration with Merck has put a focus on the company’s XeriJect platform for use with monoclonal antibodies to engineer ready-to-use formulations. This is also just one of several platforms in Xeris’ portfolio. The company also has Gvoke (liquid glucagon for treating hypoglycemia), Keveyis (FDA approved for periodic paralysis), and XeriSol for formulation technology.

This month Xeris reported its latest round of quarterly results. The company missed EPS estimates by 2 cents per share but beat sales estimates. Paul R. Edick, Chairman, and CEO of Xeris Biopharma, explained, “Since the closing of the Strongbridge acquisition in early October, we have completed integration of the operations. We are operating as one company and are on track to realize $50 million in synergies, while at the same time intensely preparing for the potential commercial launch of Recorlev. We are in a strong cash position to drive continued growth of Gvoke and Keveyis, prepare for and launch Recorlev in Q1 2022 if approved, and continue to advance our pipeline products.”

Analysts at HC Wainwright have given XERS stock a buy rating along with a $4 price target. Compared to Monday’s closing price of $2.48, this is 101% higher right now.

Phunware Inc. has been in and out of the spotlight ever since the debut of former President Trump’s social media SPAC deal. Digital World Acquisition Corp. (NASDAQ: $DWAC) is slated to become the new home for Donald Trump’s new social media platform, Truth Social. What does Phunware have to do with it?

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Earlier this quarter, any company with some relationship to the former President or Digital World Acquisition or the Trump family caught a surge of sympathy momentum. In Phunware’s case, it was its involvement with an app during the Trump campaign. Shares surged from around $1 to highs of more than $24. Things have settled back down quickly, but it doesn’t mean the market has forgotten about PHUN stock.

This week Phunware reported its latest round of earnings. The company beat Wall Street estimates on earnings per share, reporting a gain of $0.01 vs. an expected loss per share of $0.04. However, Phunware was unable to impress when it came to sales figures. Regardless, the company has been in the spotlight for more than just its exposure to the Trump name. Bitcoin and cryptocurrency have played a more significant role as well. In its earnings update, Phunware explained that it currently holds roughly 129 Bitcoin and that new acquisitions, including Lyte Technology, can add immediate profitability helping with Phunware’s current blockchain initiatives.

“Rolling forward, we are committed to not only growing our digital currency holdings in the future, but we also expect to add Decentralized Finance (DeFi) to our corporate treasury activities.” - Matt Aune, CFO of Phunware

The recent rating from HC Wainwright sets the stage for Phunware’s stock forecast. The firm has a Buy rating and just boosted its $2 price target to $5. Based on PHUN’s closing price on November 16, that target is roughly 37% higher right now.

Verb Technology continues climbing after testing its 200-day moving average about a week ago. Shares of VERB stock bounced from lows of $1.78 to highs of over $2 this week. The tech company has gained some attention thanks to new advancements made with its Software-as-a-Service platforms. This includes everything from video-based sales applications, shippable videos, customer relationship management platforms, and marketing applications.

This week Verb released its third-quarter earnings results. Thanks, in part, to continued progress in gaining new SaaS contracts and recurring revenues, Verb realized significant growth both quarter over quarter and year over year. Combined revenues were up more than 20% compared to Q2, 2021, and total digital revenues jumped 30% over the same period. With the latest launch of a new sports vertical and partnership with the Pittsburgh Penguins, the company anticipates driving ticket sales and fan engagement to build this new arm even further.

Alliance Global Has set its sights high when it comes to Verb. The firm has a Buy rating and set a price target at $4; 101% higher than Monday’s closing price.

Progenity has been on our list of penny stocks to watch for months at this point. The most significant factor that traders have focused on is PROG stock’s short interest. You only need to look as far as our Monday article and the update on Progenity (See: Best Penny Stocks To Buy? 5 Short Squeeze Stocks To Watch Now). Fintel showed that PROG stock has a short float percentage of 26.37%. By most accounts, this is a higher than average short interest, and it seems like the market has noticed.

Besides news that Progenity participates in Piper Sandler’s Virtual Healthcare Conference next week, earnings are the latest focus. The company announced worse than expected earnings earlier this month. However, that hasn’t put a pause to the massive move that PROG stock has seen.

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One of the key highlights from the company’s overview included how Progenity is transforming into a more streamlined company. This consists of a new CEO, Adi Mohanty, who was appointed earlier this month. It also includes additional board appointments and some fundamental changes in its debt structure to the tune of a $20.175 million reduction.

Unlike other companies on this list of penny stocks, PROG has quickly approached analyst estimates. If you look at Piper Sandler’s most recent rating, the firm has Progenity at Overweight along with a $5 target. Based on Monday’s closing price, the target sits “only” 44% higher right now.

Keep in mind that analyst estimates are only one piece of the puzzle to account for when researching companies. When looking for penny stocks to buy, studying charts and news and digging into some rumors can even help paint a more colorful picture. Make sure to have a complete understanding of the companies on your list and why they may be moving to make an informed decision whether to buy or avoid them in the end.

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