When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.
- The Trade: ADM Endeavors, Inc. (OTC:ADMQ) CEO Marc Johnson acquired a total of 355430 shares at an average price of $0.08. To acquire these shares, it cost $28,079.09.
- What’s Happening: The company’s shares dropped 5.8% to close at $0.08 on Friday.
- What FlexS ADM Endeavors hopper Does: ADM Endeavors Inc operates a diverse vertical integrated business in the Dallas/Fort Worth area, consisting of a retail sales division, screenprint production, embroidery production, digital production, import wholesale sourcing, and uniforms. It generates revenues from Promotional sales followed by School uniform sales.
- The Trade: electroCore, Inc. (NASDAQ:ECOR) CEO Daniel Goldberger acquired a total of 15000 shares at an average price of $0.75. The insider spent $11,247.00 to buy those shares.
- What’s Happening: electroCore, earlier during the month, posted a narrowre-than-expected quarterly loss.
- What electroCore Does: electroCore Inc is a commercial stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology.
- The Trade: Nocopi Technologies, Inc. (OTC:NNUP) 10% owner Tim Eriksen acquired a total of 326300 shares at an average price of $0.17. To acquire these shares, it cost $55,471.00.
- What’s Happening: The company’s shares have jumped over 13% since the start of the year.
- What Nocopi Technologies Does: Nocopi Technologies Inc develops and markets specialty reactive inks. Its main business activities are the development and distribution of document security products and the licensing of its patented reactive ink technologies for the entertainment and toy and the document and product authentication markets in the United States and foreign countries.
- The Trade: VirnetX Holding Corp (NYSE:VHC) President and CEO Kendall Larsen acquired a total of 27759 shares at an average price of $2.89. The insider spent $80,262.38 to buy those shares.
- What’s Happening: Virnetx, in September, promoted Dr. Victor Larson to Chief Technical Officer and hired Kathy Allanson as its new Chief Financial Officer.
- What VirnetX Holding Does: VirnetX Holding Corp is engaged in the business of commercializing a portfolio of patents. It is an Internet security software and technology company with patented technology for secure communications including 4G LTE security.
- The Trade: InspireMD, Inc. (NASDAQ:NSPR) Director Paul Stuka acquired a total of 18328 shares shares at an average price of $3.55. The insider spent $65,064.40 to buy those shares.
- What’s Happening: InspireMD, earlier during the month, posted a Q3 loss of $0.53 per share.
- What InspireMD Does: InspireMD Inc is the United States based medical device company. It is focused on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease.