Smith Micro Software, Datasea, and Immuneering Corp. are the 3 Penny Stocks to watch on September 18, 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 17, 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.
Smith Micro Software, Inc. (SMSI) – Smith Micro provides highly scalable mobile applications and value-added solutions for mobile and cable operators globally. SMSI sells its services to device OEMs (original equipment manufacturers), chipset manufacturers, and all OS (operating system) platforms on behalf of leading Tier 1 operators.
On September 17, Smith Micro had a Dollar Volume of $214.11 million, with its shares rallying nearly 118%. There was no significant news for SMSI yesterday. SMSI shares have been very volatile this year, losing over 83% of their value so far.
Datasea, Inc. (DTSS) – Datasea operates an electronic and web-based security solutions platform that offers products and services to enterprise and retail customers. DTSS had a Dollar Volume of $119.13 million yesterday, with its shares jumping 29.8%.
On September 17, Datasea announced that its Chinese subsidiaries had entered into deals with Qingdao Ruizhi Yixing Information Technology to supply a range of advanced 5G-AI multimodal services. The agreements were made in August for a period of 12 months, with an estimated total value of $30 million. Datasea expects the deals to have a positive revenue impact in Fiscal 2025.
Immuneering Corp. (IMRX) – Immuneering is a clinical-stage biopharmaceutical company with a focus on developing universal-RAS/RAF medicines for cancer patients. IMRX had a Dollar Volume of $100.95 million on September 17, while its stock price fell by 3.1%.
Since September 13, IMRX stock has gained over 94% due to the announcement of positive efficacy data from its pancreatic cancer study. Immuneering’s lead product candidate, IMM-1-104, showed promising early response data from the first five patients of an ongoing early to mid-stage study (Phase 2a) combined with chemotherapy for treating first-line pancreatic cancer.
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.
