Sky Quarry, Visionary Education Technology Holdings Group, and Cocrystal Pharma are the 3 Penny Stocks to watch on April 7, based on TipRanks’ Penny Stock Screener tool. These stocks are usually priced at $5 or below and typically belong to companies with a market capitalization under $300 million.
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The Penny Stock Screener allows investors to identify stocks by applying a variety of filters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
We leveraged the tool to identify the top three penny stocks with the highest Dollar Volume as of market close on April 6. Dollar Volume refers to the total value of shares traded in a day, calculated by multiplying the number of shares traded by the stock’s price.
Sky Quarry (SKYQ) – Sky Quarry is an integrated energy solutions company that recycles waste asphalt shingles into usable energy products like oil and asphalt, reducing landfill waste. On April 6, SKYQ had a Dollar Volume of $1.05 billion, while its stock price fell nearly 2%.
The stock decline appears to be a reversal from last week’s rally. On April 2, SKYQ stock skyrocketed more than 101% after the company stressed the importance of its Nevada refinery, the state’s only oil facility. Sky Quarry noted that oil disruptions from the Middle East conflict and California’s refinery curbs have spiked prices to $110 per barrel, positioning its Nevada refinery to benefit from the macro disruption.
Visionary Education Technology (GV) – Canada-based Visionary Education Technology provides educational programs and services to students worldwide. On Monday, GV had a Dollar Volume of $257.25 million, accompanied by a stock price slump of 22.6%.
GV stock also appears to be reversing Thursday’s gains, when shares rallied 116.6%. There was no specific news that day justifying the surge. However, on March 31, GV signed a $20 million deal with Qingdao Xihai Rongke to fund its China anti-aging project. It includes a research center for cell therapy and a chain of health management centers in Shandong, paid in milestone-based phases.
Cocrystal Pharma (COCP) – Cocrystal Pharma is a clinical-stage biotechnology company focused on discovering and developing novel antiviral therapeutics. Yesterday, COCP had a Dollar Volume of $207.35 million, while its shares declined.
On April 2, Cocrystal announced that the Food and Drug Administration (FDA) granted Fast Track designation to its oral, direct-acting protease inhibitor, CDI-988. It is the first oral antiviral candidate being developed for treatment and prophylaxis of norovirus infection. COCP shares rallied 48% on the news and appear to be cooling off yesterday.