Which Are Best Penny Stocks To Buy On Nasdaq / NYSE

Long-term investments are almost always considered better than short-term investments, as they have less risk of being impacted by temporary market volatility. This is especially true if you are investing your hard-earned money and cannot afford to lose it. When thinking long-term investments, you can diversify your portfolio by adding some penny stocks to your investment basket.

As penny stocks are already at their lowest rates, there's little to lose. Moreover, you can buy tons of them even with a small corpus of fund. And if some of these penny stocks register strong growth in their valuation, say after a few years or so, you will be able to make significant gains. If you choose penny stock that have potential for growth, it can turn out to be a goldmine. Here's a look at some of the best penny stocks you can buy on Nasdaq / NYSE.

Compugen Ltd. - An Israeli biotech company, Compugen focuses on developing predictive computational drug discovery platform. Current CGEN (NASDAQ) stock price is $0.89. Computation drug discovery segment is expected to become increasingly relevant, as humankind is faced with newer forms of diseases and ailments. Experts also point out to the company's recent breakup in partnership with Bristol-Myers Squibb Company (NYSE: BMY), which should allow Compugen more freedom and strategic flexibility.

Clovis Oncology, Inc. - Founded in 2009, Clovis Oncology, Inc. is a commercial-stage biotech company based out of Boulder, Colorado. The company focuses primarily on developing and commercializing various cancer treatment methodologies. A number of such treatments are currently being evaluated by Food and Drug Administration (FDA) and European Medicines Agency (EMA). If approved, it could be a big leap for the company. Current CLVS (NASDAQ) stock price is $1.16 per unit.

Douglas Elliman Inc. - A multi-channel real estate company based in New York, Douglas Elliman Inc. has 113 offices across the country and more than 7,000 agents. The company has registered strong business growth in recent years, especially in luxury property segment. It is one of the largest real estate brokers in US. Current DOUG (NYSE) stock price is $4.29 per unit.

Ring Energy, Inc. - An oil and gas E&P company based out of Midland, Texas, Ring Energy, Inc. has assets across New Mexico and Texas located in the Permian Basin. One of the positive developments for the company was the recent acquisition of privately-held Stronghold Energy. Valued at $465 million, the acquisition deal can help the company to boost its cash flow. Current REI (NYSEAMERICAN) stock price is $2.58 per unit.

Pitney Bowes Inc. - A mailing and shipping company based out of Stamford, Connecticut, Pitney Bowes Inc. has active engagements with around 90% of Fortune 500 companies. Powered by automation and advanced tech, the company is making bold moves in logistics sector. Current PBI (NYSE) stock price is $2.48 per unit.