5 Best Penny Stocks For 2014

Forget the old adage "A penny saved is a penny earned."

When it comes to investments in energy efficiency, the payback can be 200% or even 400%, according to various studies. That's why there is a fresh push to step up our pace of energy efficiency investments, as I discussed in Part One of this two-part series.

The challenge for investors is to find companies that are squarely focused on the issue. In my first column, I noted that Johnson Controls (NYSE: JCI), Honeywell (NYSE: HON) and Ingersoll-Rand (NYSE: IR) all offer a variety of efficiency-oriented products and services.

However, these companies aren't really pure plays, as they have considerable exposure to the auto industry, the defense sector and other niches that can dilute the gains they will see from rising spending on their energy efficiency gear.

5 Best Penny Stocks For 2014: Kohlberg Capital Corporation(KCAP)

Kohlberg Capital Corporation is a private equity and venture capital firm specializing in buyouts and mezzanine investments. It focuses on mature and middle market companies. The firm structures its investments through senior debt, second lien debt, secured and unsecured subordinated debt, mezzanine debt, and equity. It invests in all sectors except cyclical industries. The firm invests equity in both minority and control transactions alongside other equity investors. It invests through its own balance sheet. Kohlberg Capital Corporation is based in the New York, New York.

5 Best Penny Stocks For 2014: Paragon Shipping Inc.(PRGN)

Paragon Shipping Inc. provides shipping transportation services worldwide. The company engages in the ocean transportation of various drybulk cargoes and containers. Its fleet consists of 11 drybulk vessels with a total carrying capacity of 747,994 dwt. The company was founded in 2006 and is based in Voula, Greece.

Best Financial Companies To Buy Right Now: Ever-Glory International Group Inc.(EVK)

Ever-Glory International Group, Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of apparel for women, men, and children. Its products include coats, jackets, slacks, skirts, shirts, trousers, vests, skiwear, down jackets, knitwear, and jeans. The company offers its products to the casual wear, sportswear, and outerwear brands, as well as retailers, such as department stores, flagship stores, stores-within-a-store, and specialty stores primarily in Europe, the United States, Japan, and the People?s Republic of China. As of December 31, 2010, it operated 293 retail stores in the People?s Republic of China. The company is based in West Covina, California.

5 Best Penny Stocks For 2014: Mission West Properties Inc.(MSW)

Mission West Properties, Inc. engages in the acquisition, marketing, leasing, and management of research and development properties, primarily in the Silicon Valley portion of the San Francisco Bay Area. As of December 31, 2006, it owned or managed 107 properties, totaling approximately 7.7 million rentable square feet of research and development properties through limited partnerships. Mission West Properties qualifies as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal income tax to the extent that it distributes at least 90% of its REIT taxable income to its shareholders. The company was founded in 1969 and is headquartered in Cupertino, California.

5 Best Penny Stocks For 2014: Diana Shipping inc. (DSX)

Diana Shipping Inc. provides shipping transportation services. It transports dry bulk cargoes that include commodities, such as iron ore, coal, grain, and other materials along worldwide shipping routes. As of December 31, 2010, the company?s fleet consisted of 23 dry bulk carriers, including 14 Panamax, 1 Post-Panamax, and 8 Capesize dry bulk carriers with a combined carrying capacity of approximately 2.5 million deadweight tonnage. Its customers include national, regional, and international companies. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping Inc. was founded in 1999 and is based in Athens, Greece.