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TheStreet Open House

7 Penny Tech Stocks to Buy

RAE Systems (RAE)

RAE Systems produces rapidly deployable, multi-sensor chemical and radiation detection monitors and wireless networks. Its products are used in the following industries: oil and gas, hazardous material management, industrial safety, civil defense and environmental remediation. Year-to-date, RAE has gained almost +50%, compared to smaller gains by the broader markets. Most of RAE's gains occurred in mid-September, when the stock skyrocketed more than +44% in one week! Additionally, RAE has outperformed earnings estimates for the past three quarters, making it an attractive buy.

Glu Mobile (GLUU)

Glu Mobile designs, markets and sells games for mobile phones. Some of its games include Call of Duty, Deer Hunter, Diner Dash and Guitar Hero 5, among others. Since January, this penny stock has nearly doubled. Also impressive is that GLUU has jumped +51% over the past three months. GLUU has also outperformed earnings estimates for three consecutive quarters, which has stockholders thrilled.

Related Article: Why Obama Will Boost Stocks in 2011

WidePoint (WYY)

WidePoint provides technology-based products to the government and commercial sector. The company comprises three segments: Wireless Mobility Management, Cybersecurity Solutions and Consulting Services. Year-to-date, this penny stock has posted impressive gains of +80%. Also, WYY stock has climbed +20% over the past three months. Additionally, WidePoint has met earnings estimates for two straight quarters, and recently posted a net profit margin of +8.1% in its last income statement.

NetSol Technologies (NTWK)

NetSol is a designer, developer, marketer and exporter of software products to customers in the automobile finance and leasing, banking, health care and financial services industries. Since January, this penny stock is up +78%, compared to smaller gains by the broader markets. More recently, NTWK is up +15% over the past three months. Earnings wise, NTWK has met or exceeded estimates three of the last four quarters.

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

At the time of publication, Navellier did not own a position in any of the stocks mentioned.

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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