Penny Stock Roundup: GEVO, RKDA, and INO Rally

GEVO and INO topped out near notable moving averages though

Josh Selway

Nov 5, 2019 at 2:36 PM

Renewable fuel expert Gevo Inc (NASDAQ:GEVO) is rallying today thanks to news the company has won a bid to supply Seattle's fleet vehicles with renewable gasoline, and that it's developing blockchain technology with Blocksize Capital. The stock was last seen 12.1% higher at $2.68, though it topped out right near the 80-day moving average and the $2.80 region, which served as a ceiling in July and August. Should the upside continue, it could draw some more analyst attention, since right now just one brokerage firm is in coverage.

Meanwhile, Arcadia Biosciences Inc (NASDAQ:RKDA) is making headlines of its own. The agricultural biotech said it has an order for its high-fiber bread wheat, and that it's successfully harvested 4,000 acres of its Goodwheat non-GMO wheat varieties. In response, RKDA shares have jumped 17.3% to trade at $6.02. This puts the stock on pace to top its 50-day moving average on a closing basis for the first time since September.

Lastly, Inovio Pharmaceuticals Inc (NASDAQ:INO) is trading 7.1% higher at $2.55, on news the company's brain cancer combination treatment with Regeneron Pharmaceuticals (REGN) produced positive results in a study. The shares are still down 36.4% year-to-date, though, and earlier topped out at the 160-day moving average. All five covering brokerage firms have "strong buy" ratings on the stock.

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