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.
MannKind
The Trade: T2 Biosystems, Inc. (NASDAQ:TTOO) Director Adrian Jones acquired a total of 46254 shares shares at an average price of $0.64. The insider spent $29,773.65 to buy those shares. The insider also sold a total of 41128 shares at an average price of $0.62.
What’s Happening: T2 Biosystems is expected to release results for its second quarter on August 5, 2021.
What MannKind Does: T2 Biosystems Inc provides rapid in vitro diagnostic tests to hospitals and laboratories.
Qumu
The Trade: Qumu Corporation (NASDAQ:QUMU) Director Edward D Horowitz acquired a total of 10000 shares at an average price of $2.45. To acquire these shares, it cost $24,525.44.
What’s Happening: Qumu, last week, reported better-than-expected Q2 sales.
What Qumu Does: Qumu Corp provides the software solutions to create, manage, secure, distribute and measure the success of live and on-demand video for enterprises.
PHX Minerals
The Trade: PHX Minerals Inc. (NYSE:PHX) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 50000 shares shares at an average price of $3.00. The insider spent $150,000.00 to buy those shares.
What’s Happening: PHX Minerals is scheduled to report fiscal third quarter results on August 5, 2021. The company’s stock has gained over 27% year-to-date.
What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
