Are These Tech Penny Stocks On Your Buy Or Sell List?
Despite the volatility in March, many tech penny stocks achieved new record highs this year. When the pandemic arrived in 2020, it sparked a massive sell-off. But in April, things started to turn around in a big way, especially for digital technology.
This saw companies such as Zoom Video Communications (NASDAQ: ZM), Peloton (NASDAQ: PTON), Teladoc (NYSE: TDOC), Amazon (NASDAQ: AMZN), along with countless other tech stocks to explode in value. Whether it was digital communications, computer parts, gaming, fintech, digital entertainment, etc., the market reacted favorably to tech stocks.
Tech Penny Stocks In 2021
So, where does tech stand in 2021? Many tech penny stocks are still rapidly increasing in value and making advancements. Demand seemingly only continues to go up for different types of tech and digital products. Even with the recent rotation out of bigger tech names, small-caps remain a focus for momentum traders.
Some think that digital-based companies like Zoom will tank in value after the world completely reopens. Others believe that the new customer base that digital services have brought could still stick around after the pandemic blows over.
While some tech penny stocks have seen a pullback in 2021, many have held gains well for the year so far. Often when regular blue-chip stocks are going down in value, penny stocks, in general, tend to perform well. Let's have a look at some tech names that prove this sector still has significant momentum right now.
Hot Penny Stocks To Watch
- China Liberal Education Holdings Limited (NASDAQ: CLEU)
- Moxian Inc. (NASDAQ: MOXC)
- Solar Integrated Roofing Corporation (OTC: SIRC)
- Boxlight Corporation (NASDAQ: BOXL)
1. China Liberal Education Holdings Limited
The market for Chinese education stocks is trading higher at the moment. As the starting point for COVID-19, investors dove into online education stocks early. Still today, many of these educational tech stocks are rising in the market.
A few days ago, something happened in this space that could be why many Chinese education stocks are up. The IPO of Elite Education Group (NASDAQ: EEIQ) was a great success for the company. The company provides education solutions for Chinese students studying abroad.
Since the IPO of EEIQ, shares are up roughly 425% to date. Sympathy sentiment clearly has played a role in other education tech penny stocks like CLEU. You also can't forget the "Reddit factor" as retail traders have flocked to the latest tech trend. I say this because the "flavor of the week" earlier was NFT penny stocks. With this newest trend, Chinese education stocks are now one of the focuses. The biggest question is will we see another momentum breakout in these stocks, or has the luster worn off?
2. Moxian Inc.
This next tech penny stock is a social network platform based in China. Its services allow interaction with users and merchant clients by allowing the clients to study consumer behavior. Moxian's customer base comprises small and medium-sized companies that have physical stores to interact with online customers. Moxian has not actually released any recent news that would be driving its stock price. But the jump is something to keep track of, in my opinion.
Its last update was March 3rd, when it terminated a proposed merger with Btab Group Inc. Other than the termination agreement, we can see some insider buying in the stock last month. Director William Yap Guan Hong picked up 18,600 shares at an average price of $1.25 on March 11th. This is typically a bullish indication and has proven to be one since the purchase was made. Despite not having any recent updates, MOXC stock price is up over 230% for the year.
3. Solar Integrated Roofing Corporation
Now let's talk about a tech penny stock that has released some recent updates. Solar Integrated Roofing Corporation is a solar and roofing installation company that provides services for commercial and residential clients. Last month, the company announced that it completed the acquisition of Pacific Lighting Management, which focuses on energy services and electric vehicle charging station solutions. According to the company, Pacific has built a customer base around federal, state, and local governments, as well as school districts and other large commercial clients. The U.S. Department of Energy also qualifies Pacific as an Energy Services Company (ESCo).
"By integrating our technology, resources, and building on the momentum PLEMCo has established, we can reach our long-term goal of building a nationwide EV charging division in key regional markets. We expect PLEMCo will be a meaningful contributor to our EV charging revenue growth in 2021 and beyond, as we build on our position as one of nation's leading integrated, single-source solar power and roofing systems installation companies," explained David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation, in a March press release.
Obviously, with the growing interest in green energy penny stocks right now, SIRC could be on the list.
4. Boxlight Corporation
The final tech penny stock to watch is Boxlight Corporation, which just reported its fourth-quarter and full-year earnings. Boxlight is an education tech penny stock that develops, sells, and services interactive classrooms. Its K-12 products include projectors, interactive screens, interactive whiteboard technology, and more. Its MimioStudio software lets teachers create, edit, and present lessons, lectures, and activities.
On March 25th, Boxlight Corporation released its latest round of financial results. Revenue came in at $31.9 million for the fourth quarter, a new record for the company. This revenue increase was huge, at 437% higher than in 2019. Its full-year revenue also went up 66%, and customer orders went up 83%. These earnings caused a brief uptick, but BOXL stock has been falling ever since. That was until March 31st came around, and BOXL stock price went up about 5% to $2.53 a share. This could be a result of investors seeing the long-term value of BOXL stock. Boxlight is making new advancements in its business all the time.
Such as March 23rd, when it acquired Interactive Concepts, which distributes interactive technology in all of Belgium. The $3.3 million deal was done in cash, common stock, and deferred consideration. Mark Starkey, President of Boxlight, stated, "The acquisition of Interactive Concepts represents an exciting opportunity to expand the footprint of the Clevertouch brand and further extend our distribution network across Western Europe where we're trading tremendously well."
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