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.
Performant Financial
The Trade: Performant Financial Corporation (NASDAQ:PFMT) 10% owner Phil Frohlich bought a total of 853242 shares at an average price of $3.61. To acquire these shares, it cost $3,077,725.87.
What’s Happening: Performant Financial, during August, priced its public offering of 10.525 million shares at $3.80 per share.
What Performant Financial Does: Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States.
PetVivo Holdings
The Trade: PetVivo Holdings, Inc. (NASDAQ:PETV) Director James Martin acquired a total of 1600 shares shares at an average price of $2.46. The insider spent $3,937.19 to buy those shares.
What’s Happening: The company’s shares dropped around 28% over the previous month.
What PetVivo Holdings Does: PetVivo Holdings is a US-based biomedical device company that focuses on the licensing and commercialization of medical devices and therapeutics for pets suffering from osteoarthritis and other afflictions.
