RiceBran Technologies (RIBT)

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$RIBT Penny Stocks To Buy Now? 6 To Watch Under $1 This Week

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1. RiceBran Technologies (NASDAQ: RIBT)
A recent fan-favorite of retail traders, RiceBran Technologies, is gaining attention amid the global food shortage. Thanks to sanctions on Russian exports, for instance, gain prices have skyrocketed. Meanwhile, another major exporter of wheat, India has decided to restrict wheat exports amid a severe heatwave. This has helped spark momentum and growing interest in food and agriculture stocks.

RiceBran develops nutritional and functional ingredients made from rice and other grains for use in human food, pet food, and even equine feed applications. While the latest trend has been steadily bullish, this week saw a much more significant spike in RIBT stock. This was thanks to news that the company began a capacity expansion of its MGI Grain Incorporated facility.

This expansion is anticipated to boost capacity by double of the pearling mill. RiceBran said this would allow it to meet the growing demand for North American-sourced, grain-based ingredients. “The demand for regionally-sourced ingredients and agricultural products is soaring given the uncertainty of the geopolitical environment and challenges in the global supply chain, and we are able to respond,” said RiceBran Chairman Peter Bradley. With this as the case, agriculture and food stocks like RIBT could be the ones to watch right now.

2. Acasti Pharma Inc. (NASDAQ: ACST)
Despite a pullback in the broader biotech niche, some small- and micro-cap biotech stocks remain immune to this bearish trend. Acasti Pharma is one of these penny stocks to watch , and recently published a new update that has sparked interest in the stock.

Acasti announced the top-line results of its pharmacokinetic bridging study with its IV GTX-104. The study’s primary objective was to evaluate the relative bioavailability of IV GTX-104 compared to oral nimodipine. The secondary aim of the study was to assess safety and tolerability. GTX-104 is the company’s candidate for treating Subarachnoid Hemorrhage. The treatment met all of its planned study endpoints.

Acasti said it now plans on submitting the results to the FDA in addition to a proposed design for a Phase 3 safety study. This is on track to begin later this year. What’s important about the safety study is that it’s anticipated to be the last step necessary to seek regulatory approval before submitting a New Drug Application to the FDA. With a conference call planned for 1 PM ET, ACST stock could be on the radar heading into the May 18th session.

3. Guardforce AI Co., Limited (NASDAQ: GFAI)
Tech stocks haven’t necessarily weathered the stock market crash and other stocks. The tech-heavy NASDAQ has become one of the main laggards this year. This hasn’t pushed traders away from day trading tech penny stocks. Guardforce AI is one of the companies that have gained popularity over the last few days.

In Guardforce’s case, it has grown in appeal thanks to continued virus concerns. While it has established a reputation for AI-based security solutions, recently, its disinfectant platform has been the highlight. To this end, Guardforce made a significant announcement this week. The company reported the expansion of its robotic disinfection services. This was in response to the latest virus outbreak in China.

Terence Yap, Chairman of Guardforce AI, also explained, “We continue to evolve our robotic ecosystem with a goal of providing our clients a one-stop-shop solution. Based on a recent report from ResearchAndMarkets.com, the global disinfection robot market is expected to grow at a CAGR of 30.1% from 2021 to 2028 and will reach $2.79 billion by 2028. Through our robots-as-as-service (RaaS) model, bundled with disinfectant supplies, we can provide our customers with a truly hassle-free and cost-effective solution. Following our pilot program in Shenzhen, we plan to promote this robotic disinfection solution in other regions across China and around the world.”