Seelos Therapeutics, Heart Test Laboratories, and XChange TEC are the 3 Penny Stocks to watch on September 25, 2024, based on TipRanks’ Penny Stock Screener tool. Penny stocks are defined as stocks that trade at or below $5 per share and have a market capitalization of below $300 million.
The Penny Stock Screener helps investors scan stocks based on numerous parameters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
We leveraged the tool to pick the top three penny stocks with the highest Dollar Volume as of the close on September 24, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price. We can also look at the Relative Volume and Average Volume (last 3 months) to gauge how the trading volumes have been very high (showing high interest) compared to the average.
Seelos Therapeutics (SEEL) – Seelos Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for CNS (central nervous system) disorders and other rare diseases. On September 24, Seelos had a Dollar Volume of $100.32 million while its shares skyrocketed by 57.4%.
Seelos announced the signing of a material transfer agreement with the U.S. Army Medical Materiel Development Activity to evaluate SLS-002 (intranasal racemic ketamine) for the potential treatment of post-traumatic stress disorder (PTSD). Shares jumped yesterday in response to this news.
Heart Test Laboratories (HSCS) – Heart Test Laboratories is a medical technology company with a focus on developing AI (artificial intelligence)-based technology for the early detection of heart diseases. HSCS had a Dollar Volume of $73.56 million yesterday while shares jumped by 44.6%.
There was no specific news on Heart Test Laboratories yesterday. In the past two trading days, HSCS shares have gained over 44%.
XChange TEC Inc. (XHG) – XChange TEC. operates an online apartment rental business in China. On May 21, FLJ Group Ltd. changed its name to XChange Tec. after undergoing governance restructuring. FLJ stock was delisted, and XHG shares started trading on the Nasdaq.
On September 24, XHG’s Dollar Volume stood at $36.11 million while shares surged over 93.7%. Yesterday, the company announced the registration of 150 quadrillion Class A ordinary shares, represented by ADS (American Depositary Shares). Furthermore, XHG announced that it entered into a definitive agreement with VG Master Fund SPC to sell up to $25 million worth of ADS in intervals. Each ADS represents 600,000 of the Class A ordinary shares.
To find more penny stocks like these, you can take a look at TipRanks’ Penny Stock Screener tool. It shows a list of all penny stocks, their price movement, and other vital data.
Read More: 3 Penny Stocks to Watch Now, 9/25/24