One of the most exciting things about investing in penny stocks is how much and how fast they can soar! On any given day, several penny stocks will move in double and triple-digit increments.
Two big movers in this week’s trading are Helios & Matheson Information Technology (HMNY), Tri-Tech Holdings (TRIT). Let’s take a quick look at these penny stock movers & shakers.
Helios & Matheson Information Technology (HMNY)
What: Shares in HMNY were up by more than 44% over the past week. HMNY climbed from near $2.70 to $3.69.
Who: Helios and Matheson Information Technology provides information technology services and solutions to Fortune 1000 companies and other large organizations. Their services include application value management, custom application development, integration, and independent validation, infrastructure, and information management services. The company also markets and distributes software products developed by independent software developers.
Why: HMNY posted a jump in net income of 123% back in November. Ever since, shares have been on the rise. Given that management sees the company gaining momentum, this undervalued IT services company appears to be turning the corner.
In addition, HMNY shares were recently trading near a 52-week low. Often times, rebounds off the bottom are the strongest as a result of some short covering.
Tri-Tech Holdings (TRIT)
What: Shares of TRIT are up over 76% in the past week, trading up to close at $2.75. Shares have surged since December 27th when the stock was trading at just $1.55.
Who: Tri-Tech Holdings is a Chinese-based provider of integrated solutions, products, and technology in water resources management. TRIT also offers water and wastewater treatment, municipal infrastructure construction, industrial production safety and environmental improvement.
Why: TRIT secured several contracts for wastewater treatment, high-rising building water supply equipment procurement, and flash flood forecasting projects. The total estimated value of all contracts is approximately $3.2 million.
With these projects expected to be completed between December 2012, and April 2013… the revenue should be hitting the bottom line. Investors are certainly lining up to get in early.