5 Best Stocks Under $5 This Week

In a week that saw the markets exhibit significant weakness until exploding higher on Friday, there were several low-priced stocks that performed quite admirably.

number 5 dollar bill

Many of these companies are little-known firms that fit a small niche or are even somewhat boring in their product lines or services performed. But boy, can they blast higher on good news!

Here now is a look at five of them priced less than $5 that really took off this week:

Best Stocks Under $5: Micronet Enertec Technologies Inc (MICT)

5/8/15 Closing Price: $3.33 (+43%)

Micronet Enertec Technologies Inc (NASDAQ:MICT) is a Montvale, New Jersey-based electronics manufacturer that supplies hardware systems and instruments for commercial, defense, and aerospace companies in the U.S. and Israel. It has developed A317 All-In-One, which is a rugged Android-based fix-mounted tablet with a wireless cellular modem that can provide real-time video to other locations.

This week MICT announced it secured a three-year purchase agreement with a fleet of school bus lines in excess of $4 million in the first year, with increasing amounts over the life of the contract. The devices will be used to provide better tracking and efficiency of the school buses through telematics.

Verizon Communications (NYSE:VZ) has certified Micronet’s A317 All-In-One Tablet to use its wireless network. MICT stock was $6 in 2014, but had recently been cut in half before rebounding this week.

Best Stocks Under $5: Vertex Energy Inc (VTNR)

5/8/15 Closing Price: $2.52 (+30%)

Vertex Energy Inc (NASDAQ:VTNR) is a Houston-based environmental services firm that recycles industrial waste streams, such as used motor oil and other petroleum-based chemicals.

Early this week, VTNR announced its subsidiary Vertex Refining leased a Nevada plant that produces base lubricating oils. Vertex has also entered into two equipment leases to support the plant.

Before getting too excited, investors should note that VTNR stock has fallen from nearly $11 a share in mid-2014.

Best Stocks Under $5: Ignite Restaurant Group Inc (IRG)

5/8/15 Closing Price: $4.57 (+24.2%)

It was an interesting week for Ignite Restaurant Group Inc (NASDAQ:IRG), the restaurant conglomerate that includes Joe’s Crab Shack, Romano’s Macaroni Grill and Brick House Tavern. On Monday, IRG reported that it lost 4 cents per share in first-quarter adjusted earnings, which was better than the Street’s estimate for a loss of 6 cents a share. Revenue of $122.2 million came in below the forecast for $123.1 million.

No matter, the stock blasted up this week anyway, even surviving a downgrade by Piper Jaffray Companies (NYSE:PJC) on Tuesday from “neutral” to “underweight.”

It could be that IRG stock was just extremely oversold and was ready for a bounce, having fallen from $7.50 to $3.50 over the past two months. A declining 50-day moving average at $5 won’t help matters either. Investors might want to wait for a pull back before jumping in on IRG stock.

Best Stocks Under $5: Exelixis, Inc. (EXEL)

5/8/15 Closing Price: $3.43 (+21.2%)

Exelixis Inc. (NASDAQ:EXEL) is a biotech company that develops small molecular therapies for treating thyroid and other types of cancer. Many of these small biotech firms often lose money for awhile, and EXEL is no exception.

However, its first-quarter earnings report of a loss of 18 cents a share beat the expectations of analysts, who had predicted a loss of 23 cents. Revenue of $9.4 million was also ahead of forecasts for $8.3 million.

With the double beat, EXEL stock was quite strong this week and bolted up above recent resistance at $3.25. It appears at this point that EXEL may have some legs to carry it higher.

Best Stocks Under $5: Axcelis Technologies Inc (ACLS)

5/8/15 Closing Price: $2.92 (+13.2%)

Axcelis Technologies Inc (NASDAQ:ACLS) is a semiconductor services company that manufactures ion implantation and other processing equipment that are used to create semiconductor chips.

ACLS stock shot up this week after reporting first-quarter earnings of 2 cents a share, ahead of Wall Street expectations for a break-even quarter. Revenue of $73.3 million was also ahead of forecasts for $66.3 million.

Adding to the bullishness this week, Zacks added ACLS stock to its “strong buy” list.

As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/05/5-best-stocks-under-5-this-week/.

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