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.
Ault Global
The Trade: Ault Global Holdings, Inc. (NASDAQ:HUBS) Executive Chairman Milton Ault III acquired a total of 10,000 shares at an average price of $2.34. The insider spent $23,399 to buy the stock.
What’s Happening: Ault Global, last week, formed Ault Global Real Estate Equities, a Nevada corporation (AGREE), to invest in commercial real estate. The company’s shares have surged around 7% in the past five days.
What Ault Global Does: Ault Global is a diversified holding company owning subsidiaries engaged in commercial and defense solutions, commercial lending, and advanced textile technology.
Pingtan Marine Enterprise
The Trade: Pingtan Marine Enterprise Ltd. (NASDAQ:PME) CFO LiMing Yung bought a total of 8,000 shares at an average price of 91 cents per share. The insider spent $7,280 on buying those shares.
What’s Happening: The company’s stock fell around 1.5% in today’s session and has lost 58% year to date.
What Pingtan Marine Enterprise Does: Pingtan Marine Enterprise is a marine enterprises group primarily engaging in ocean fishing.
