Penny Stocks Buzzer: ADMP, SABR, FOXO, DRTT, CETY

Penny stocks offer investors the opportunity to pick up a large position in stock for a relatively low investment since they trade below $5 a share. Despite the associated volatility, these stocks can often deliver outsized gains, and hence, there is perpetual interest. Here is a quick look at five penny stocks that have buzzed recently.

Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) On August 2, the commercial-stage biopharmaceutical company Adamis Pharmaceuticals Corporation was in focus following a major announcement.

The company announced that the pricing of the public offering of 5,930,000 units would be $1.35 each. Each unit would be made up of one share of the Adamis common stock and a warrant that would entitle the holder to pick up another share of the common stock. The share warrants could be exercised immediately to pick up a common share in the company for $1.35 a share. The warrants would expire five years from the date of issuance.

The common stock and the warrants are going to be offered together, but those would be separable immediately. The company noted that it would raise gross proceeds of $8 million from the offering. However, agent fees and other offering-related expenses are going to be deducted from the sum. The sole placement agent in relation to the offering is Maxim Group LLC. The offering would be closed on August 4, 2023, if the customary closing conditions are met.

Sabre Corporation (NASDAQ: SABR) The company, which is a leading travel industry-specific technology solutions provider, was in focus on Thursday after it came up with its outlook for the last two quarters of 2023. Sabre Corporation projected that in the third quarter, it expected to generate revenues of around $725 million, which would be closely in line with the estimated revenues of $725.79 million. In the fourth quarter, the company projected revenues of $700 million.

The company went on to note that in the full year, it expected its projected revenues to be in the range of $2.9 billion and $3 billion. The estimated range was in line with the estimated revenues of $2.9 billion. It was further noted that the overall outlook that was provided by the company was a reflection of its focus on the delivery of consistent financial performance and its ability to navigate the dynamic travel industry landscape with aplomb.

FOXO Technologies Inc. (NASDAQ: FOXO): The company is a major player in the commercialization of the epigenetic biomarker technology space. On July 19, FOXO Technologies was in the news after it announced that its state-of-the-art Bioinformatics Services had been launched. The product is meant to speed up breakthroughs in the fields of healthcare, biotech, and biology and help grow the emerging epigenetic research space.

The Bioinformatics Services offered by FOXO provide a complete platform for working on advanced data solutions that could be customized to take care of the very specific needs of the company’s clients in healthcare, academia, and pharmaceuticals. The tools offered on the platform help the clients increase not only the speed but also the accuracy of the processing, analysis, and interpretation of sets of data.

The Chief Technology Officer and interim Chief Executive Officer of the company, Tyler Danielson, noted that the launch of the platform was a major new milestone for FOXO as a company and also for epigenetic research.

DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) This week, DIRTT Environmental Solutions Ltd. announced its financial results for the three-month and six-month periods, both of which ended on June 30, 2023. The industrialized construction leader recorded revenues of $22.4 million in the second quarter, which worked out to an improvement of 22% from the previous quarter but remained flat year on year.

Adjusted EBITDA went up $11.3 million to hit $1.9 million. The company also noted that Fareeha Khan had been appointed as the new Vice President of Finance, and it would go into effect on August 25. DIRTT ended the quarter with liquidity of $28.1 million as compared to $16.1 million on December 21, 2022. The Chief Executive Officer, Benjamin Urban, noted that there was excitement and energy at the company owing to the strong performance and the strengthening of the balance sheet.

Clean Energy Technologies Inc. (NASDAQ: CETY), the rising leader in clean energy solutions, announced on July 12 that it had entered into a fixed-price EPC (engineering, procurement, and construction) contract with Vermont Renewable Gas LLC. Clean Energy would be responsible for the development of the Lyndonville biogas power plant.

The company noted at the time that the award of the contract worth $10 million was a demonstration of the company’s credentials in the clean energy solutions space. The company would be responsible for the design, construction, and operation of the $10 million plant.