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7 Penny Stocks to Buy

Powerwave Technologies (PWAV)

Market Cap: $211 million

Industry: Communication Equipment

Based in Santa Ana, Calif., Powerwave Technologies (PWAV) is a global supplier of end-to-end wireless solutions for wireless communications networks. Powerwave designs, manufactures, markets and sells products that improve coverage, capacity and data speed in wireless communication networks. Since January, this penny stock has gained nearly 30%, and has a current stock price of $1.59. Additionally, the fact that Powerwave outperformed earnings estimates by 100% last quarter makes this stock a strong buying opportunity.

As of this writing, Louis Navellier did not own a position in any of the stocks named here.

One of Wall Street's renowned growth investors, Louis Navellier is the editor of four investing newsletters: Emerging Growth (formerly known as MPT Review), Blue Chip Growth, Quantum Growth and Global Growth. His longest-running publication, Emerging Growth, has a track record of beating the market nearly 3 to 1. Navellier is the author of a BusinessWeek bestseller, "The Little Book That Makes You Rich," and the chairman and founder of Navellier & Associates, Inc.

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