11 Penny Stocks to Sell Now

By Louis Navellier of InvestorPlace

When it comes to penny stock investing and buying inexpensive stocks, sometimes investors think that they can find bargains for just a few dollars a share. Sometimes they are right -- but other times these penny stocks can expose your portfolio to big risk and lose you a bundle in a hurry.

Penny stock investing tends to be riskier than investing in large-cap stocks, but that doesn't mean you have to settle for losers in your quest for big penny stocks that take off. Here are 11 penny stock losers to avoid:

ICO Global Communications Holdings (ICOG)

Industry: Wireless Communication Services

Market Cap: $418.3 million

ICO Global Communications Holdings (ICOG) is a development-stage mobile satellite service operator with one medium earth orbit satellite currently functioning. ICOG also has 10 additional satellites in various stages of completion.

While this penny stock is up 52.8% since January, it has started to decline in recent weeks, and is down 3% since July 8. Interestingly, ICO has not made progress on any of its satellites since 2004, due to a disagreement with the satellites' producer, Boeing. That's not a very encouraging sign and tells me investors should steer clear of this penny stock.

Antares Pharma (AIS)

Industry: Health Care Equipment

Market Cap: $128.6 million

Focusing on self-injection pharmaceutical technology and gel-based products, Antares Pharma (AIS) has seen a 21.5% decrease over the past month. That's much worse than the broader markets, as the Dow Jones Industrial Average and Nasdaq are down 2.9% and 5.1% over the past month, respectively.

The New Jersey based AIS has a multi-product deal with Teva Pharmaceutical Industries (TEVA), and is involved with the production of various disposable and reusable auto injectors. That's a plus, however, experts have predicted an earnings decrease over the next two quarters for this penny stock. That has turned me off Antares.

Axcelis Technologies Inc. (ACLS)

Industry: Semiconductors

Market Cap: $179.1 million

Penny Stock Axcelis Technologies (ACLS) designs, manufactures and services semiconductor chips, while also providing service, support, equipment upgrades, spare parts and customer training.

ACLS works with some notable technology companies including Intel (INTC), IBM (IBM), Texas Instruments (TXN) and Samsung.

While Axcelis was up 68.8% from January to May, the stock has fallen sharply since then, and is down 25.9% over the past three months. Additionally, this penny stock has underperformed earnings estimates three of the last four quarters.

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