NYSE and Nasdaq Cheap Penny Stocks: CVO, OPHC, PNBC

Penny Stocks listed on the NYSE and Nasdaq do not have the volatility that OTC stocks have, but they still hold the same principles: cheap stocks. Three that you can add to your list of penny stocks to watch are Cenveo Inc. (NYSE: CVO)OptimumBank Holdings Inc. (Nasdaq: OPHC), and Princeton National Bancorp Inc. (Nasdaq: PNBC).

CVO received analyst coverage yesterday from the Wall Street firm CRT Capital who set a “buy” rating on Cenveo stock. On April 16th, Cenveo was upgraded by analysts at Imperial Capital who issued a $2.75 price target on CVO stock, up previously from $1.75. OPHC was a laying dog until mid-March and has since had a fire lit underneath it to keep from Nasdaq delisting. PNBC, parent corporation of Citizens First National Bank, reported earnings and continues to operate under a Consent Order entered into on September 20, 2011 with the Office of the Comptroller of the Currency.

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CVO Stock Snap Shot:

Market Cap: 179.50M
Enterprise Value: 1.41B

52-Week High
(May 13, 2011): 6.63
52-Week Low
(Apr 17, 2012): 2.53
Avg Vol (3 month): 869,327
Avg Vol (10 day): 749,088
Shares Outstanding: 63.43M
Float: 52.02M
% Held by Insiders: 9.16%
% Held by Institutions: 83.30%

Shares Short
(as of Mar 30, 2012): 6.72M

Every company is looking for ways how they can eliminate having to use paper. CVO has been sandbagged with issues since the 2007 acquisition followed by the obvious economic crisis of 2008-10. The series of events forced significant restructuring.

Cenveo appears to have costs under control now and operating cash up. A couple weeks ago CVO stock took an 18% nose dive based on the pricing of exchangeable notes and looks to be on track for a good run ahead with a bottomed-out RSI and MACD.

OPHC Stock Snap Shot:

Market Cap: 62.75M
Enterprise Value: 76.83M

52-Week High
(Mar 29, 2012): 5.43
52-Week Low
(Jan 10, 2012): 0.38
Avg Vol (3 month): 72,941
Avg Vol (10 day): 230,150
Shares Outstanding: 22.41M
Float: 5.44M
% Held by Insiders: 76.25%
% Held by Institutions: N/A

Shares Short
(as of Mar 30, 2012): 29.42K

After a massive spike in OPHC stock price two weeks ago followed by a correction, OPHC has had a continuing rise in pps. Although it appears to be a short sqeeze type move, there is no indication of any major short. OPHC now has nothing to fear from the Nasdaq continued listing requirements so long as they stay above the $1 mark now.

PNBC Stock Snap Shot:

Market Cap: 6.35M
Enterprise Value: 27.89M

52-Week High
(May 11, 2011): 7.24
52-Week Low
(Nov 18, 2011): 0.86
Avg Vol (3 month): 55,588
Avg Vol (10 day): 180,725
Shares Outstanding: 3.34M
Float: 3.19M
% Held by Insiders: 2.78%
% Held by Institutions: 7.30%

Shares Short
(as of Mar 30, 2012): 64.88K

Princeton National Bancorp reported their 2011 financial results yesterday with a net loss available to PNBC stockholders of $55.6 million, or -$16.71 per common share on a fully diluted basis. Of the $55.6 million in losses, the large majority, $51.8 million, was a loan loss provision to clear the problem loan assets that were materially impacting Citizens First National Bank.

Bottom Line: CVO, OPHC and PNBC were the top performing penny stocks from the two big exchanges, NYSE and Nasdaq, yesterday. Are they good penny stocks to buy? More likely they had a good day alongside a bad day for the rest which is why they stood out.

Feel free to add them to your list of penny stocks to watch but approach them with the intent to scalp points in a day trade at best.

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