Cheap Stocks: 7 Good Penny Stocks to Watch Under $3

These 7 cheap stocks are all under $3, RTK, JMBA, ERII, RLGT, MPG, NLS and SQNS are some good penny stocks to watch and research over the weekend. RTK, which is the cheapest stock on this penny stock list, hit a 52-week high yesterday. All stocks listed received upgrades or had coverage initiated on them by Wall Street analysts last week. They may not be the best stock picks considering the bullish trend in the market, especially on OTC stocks, but all would be considered good stocks to buy.

Rentech, Inc. (NYSE: RTK)

RTK is now covered by analysts at Feltl & Co. They set a “strong-buy” rating and a $2.54 price target on the stock. RTK closed Thursday, March 15th at 2.00, up 0.06 (3.09%) on volume of 3,026,080.

RTK Snap Shot:

Market Cap: 450.43M
Enterprise Value: 523.64M
52-Week Change: 73.91%
52-Week High (Mar 15, 2012): 2.00
52-Week Low (Oct 4, 2011): 0.72
50-Day Moving Average: 1.82 (10.89%)
200-Day Moving Average: 1.44 (39.37%)
Avg Vol (3 month): 1,948,490
Avg Vol (10 day): 2,177,810
Float: 221.10M
% Held by Insiders: 2.86%
Shares Short (as of Feb 29, 2012): 6.14M
Short Ratio (as of Feb 29, 2012): 3.00

Rentech, Inc. (NYSE: RTK), a provider of clean energy solutions, owns and develops technologies that enable the production of certified synthetic fuels and renewable power when integrated with certain other third-party technologies.

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Jamba Juice, Inc. (NASDAQ: JMBA)

JMBA was upgraded by analysts at Dougherty & Co to a “buy” rating. JMBA closed Thursday, March 15th at 2.17, down -0.02 (-0.91%) on volume of 346,324.

JMBA Snap Shot:

Market Cap: 146.02M
Enterprise Value: 126.42M
52-Week Change: 6.90%
52-Week High (Apr 29, 2011): 2.55
52-Week Low (Oct 4, 2011): 1.21
50-Day Moving Average: 1.89 (15.83%)
200-Day Moving Average: 1.61 (34.85%)
Avg Vol (3 month): 503,508
Avg Vol (10 day): 736,162
Float: 66.63M
% Held by Insiders: 2.29%
Shares Short (as of Feb 29, 2012): 2.18M
Short Ratio (as of Feb 29, 2012): 4.80

Jamba Juice, Inc. (NASDAQ: JMBA) is a leading restaurant retailer of better-for-you, specialty beverage and food offerings, which include Fit’n Fruitful™ smoothies with Weight Burner Boost™, Whirl’ns™, California Flatbreads™ and a variety of baked goods and snacks.

Energy Recovery Inc (NASDAQ: ERII)

ERII was upgraded by analysts at Ardour Capital from a “hold” rating to an “accumulate” rating. ERII closed Thursday, March 15th at 2.19, down -0.12 (-5.19%) on volume of 310,501.

ERII Snap Shot:

Market Cap: 115.29M
Enterprise Value (Mar 16, 2012): 85.26M
52-Week Change: -29.58%
52-Week High (Oct 28, 2011): 3.50
52-Week Low (Mar 1, 2012): 2.02
50-Day Moving Average: 2.40 (-9.12%)
200-Day Moving Average: 2.65 (-17.32%)
Avg Vol (3 month): 264,393
Avg Vol (10 day): 341,512
Float: 44.16M
% Held by Insiders: 29.40%
Shares Short (as of Feb 29, 2012): 4.87M
Short Ratio (as of Feb 29, 2012): 17.00

Energy Recovery Inc (NASDAQ: ERII) designs and develops energy recovery devices and pumps that significantly reduce energy consumption for desalination and other industrial processes.

Radiant Logistics, Inc. (NASDAQ: RLGT)

RLGT is now covered by analysts at Roth Capital. They set a “buy” rating on the stock. RLGT closed Thursday, March 15th at 2.25, down -0.03 (-1.32%) on volume of 23,010.

RLGT Snap Shot:

Market Cap: 72.70M
Enterprise Value (Mar 16, 2012): 88.41M
52-Week Change: 60.71%
52-Week High (Jul 18, 2011): 2.55
52-Week Low (Mar 21, 2011): 1.35
50-Day Moving Average: 2.31 (-2.68%)
200-Day Moving Average: 2.35 (-4.24%)
Avg Vol (3 month): 17,780
Avg Vol (10 day): 13,000
Float: 12.02M
% Held by Insiders: 54.33%
Shares Short (as of Feb 29, 2012): 11.40K
Short Ratio (as of Feb 29, 2012): 0.80

Radiant Logistics, Inc. (NASDAQ: RLGT) is a non-asset based third-party transportation & logistics provider with complete global reach, as well as one of the largest and fastest growing networks in North America.

MPG Office Trust, Inc. (NYSE: MPG)

MPG was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating who now have a $3.00 price target on the stock. MPG closed Thursday, March 15th at 2.42, down -0.01 (-0.41%) on volume of 268,498.

MPG Snap Shot:

Market Cap: 122.82M
Enterprise Value (Mar 16, 2012): 3.05B
52-Week Change: -28.19%
52-Week High (Jul 20, 2011): 3.78
52-Week Low (Oct 4, 2011): 1.74
50-Day Moving Average: 2.53 (-4.13%)
200-Day Moving Average: 2.28 (6.40%)
Avg Vol (3 month): 249,652
Avg Vol (10 day): 317,262
Float: 42.67M
% Held by Insiders: 2.04%
Shares Short (as of Feb 29, 2012): 6.00M
Short Ratio (as of Feb 29, 2012): 22.10

MPG Office Trust, Inc. (NYSE: MPG) is the largest owner and operator of Class A office properties in the Los Angeles central business district.

Nautilus, Inc. (NYSE: NLS)

NLS is now covered by analysts at Northland Securities who set an “outperform” rating and a $6.00 price target on the stock. NLS closed Thursday, March 15th at 2.70, down -0.15 (-5.26%) on volume of 425,787.

NLS Snap Shot:

Market Cap: 83.01M
Enterprise Value (Mar 16, 2012): 76.98M
52-Week Change: -6.25%
52-Week High (Apr 29, 2011): 3.45
52-Week Low (Aug 9, 2011): 1.32
50-Day Moving Average: 2.64 (3.38%)
200-Day Moving Average: 1.96 (38.30%)
Avg Vol (3 month): 190,018
Avg Vol (10 day): 532,338
Float: 27.14M
% Held by Insiders: 0.74%
Shares Short (as of Feb 29, 2012): 371.76K
Short Ratio (as of Feb 29, 2012): 1.90

Nautilus, Inc. (NYSE: NLS) is a global fitness products company providing innovative, quality solutions to help people achieve a healthy lifestyle.

Sequans Communications (NASDAQ: SQNS)

SQNS was upgraded by analysts at Chardan Capital Markets from a “sell” rating to a “neutral” rating. They now have a $3.00 price target on the stock. SQNS closed Thursday, March 15th at 2.87, down -0.01 (-0.35%) on volume of 52,453.

SQNS Snap Shot:

Market Cap: 99.49M
Enterprise Value (Mar 16, 2012): 42.28M
52-Week Change: -85.28%
52-Week High (May 31, 2011): 19.50
52-Week Low (Dec 19, 2011): 2.12
50-Day Moving Average: 3.12 (-8.24%)
200-Day Moving Average: 4.12 (-30.57)
Avg Vol (3 month): 257,926
Avg Vol (10 day): 93,813
Float: 17.42M
% Held by Insiders: N/A
Shares Short (as of Feb 29, 2012): 1.40M
Short Ratio (as of Feb 29, 2012): 6.60

Sequans Communications (NASDAQ: SQNS) is a 4G chipmaker, supplying LTE and WiMAX chips to original equipment manufacturers and original design manufacturers worldwide.

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