The names on our latest penny stocks list don’t come from any particular sector. Rather, they are just some of the hottest ones on the market currently that also sport solid fundamentals. Yes, penny stocks carry much greater risk than their larger, more established brethren. But, as you’ll see, one of our stocks has skyrocketed 23% in the past week, while another is up an amazing 321% in the past 12 months. You just don’t see those kinds of gains in blue-chip stocks.
Now, speaking of risk, the names on our penny stocks list might not be what you would consider “true penny stocks.” But micro-cap pink sheet or OTC stocks that cost only a few cents per share are incredibly risky investments, which we do not advocate. These stocks are a little bigger, and therefore a little safer, but they still have the ability to continue delivering spectacular gains.
Here are seven top penny stocks to buy now:
Level 3 Communications Inc. (LVLT)
The first stock on our list illustrates the kind of amazing gains investors can make in a penny stock in a very short amount of time. Integrated communications service company Level 3 Communications Inc. (NASDAQ: LVLT) has skyrocketed 23% in the past week. And it is up 88% since the start of 2011. The stock continues to break to new 52-week highs, and potential investors should also note the company’s year-over-year quarterly revenue growth of 2% last quarter.
Capstone Turbine Corp. (CPST)
Capstone Turbine Corp. (NASDAQ: CPST) develops, manufactures, markets and services microturbine technology solutions. The stock has gained 88% year to date, compared to just 6% for the S&P 500 Index. It should also be mentioned that CPST posted quarterly revenue growth of 51%, year over year, last quarter.
AVI BioPharma Inc. (AVII)
Biopharmaceutical company AVI BioPharma Inc. (NASDAQ: AVII) focuses on the discovery and development of ribonucleic acid based drugs. AVII has gained 15% in the past month and 45% in the past year. Huge quarterly revenue growth of 202%, year over year, last quarter is incredibly encouraging. Buy this penny stock with a 52-week range of $1.16 to $2.74.
Midway Gold Corp. (MDW)
Exploration-stage mining company Midway Gold Corp. (AMEX: MDW) has watched its stock skyrocket 89% since the start of 2011, and 134% since this time last year. Buy this penny stock with a 52-week range of 38 cents to $2.39.
RAE Systems Inc. (RAE)
Known for developing chemical and radiation detection monitors, RAE Systems Inc. (AMEX: RAE) is up 15% year to date. And this penny stock has gained an impressive 140% in the past 12 months.
Gold Reserve Inc. (GRZ)
Another exploration-stage mining company making the list is Gold Reserve Inc. (AMEX: GRZ), which has gained 18% in the last six months and 69% in the last 12 months. Buy this stock as it trades near its 52-week high of $1.95.
Mad Catz Interactive (MCZ)
Video game accessory developer and manufacturer Mad Catz Interactive Inc. (AMEX: MCZ) has been the biggest winner on this list. Since last May, MCZ has climbed 321%, and this penny stock is up 51% year to date. Last quarter, MCZ posted year-over-year quarterly revenue growth of 91%. Buy this stock with a 52-week range of 34 cents to $2.39.