When insiders buy or sell stock, it indicates their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider it a factor in their overall investment or trading decision.
Below are some recent notable insider trades for penny stocks. For more, check out Benzinga’s Insider Trading platform.
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 is going on: Ault Global last week formed Ault Global Real Estate Equities, a Nevada corporation (AGREE), to invest in commercial real estate. The company’s stock is up about 7% in the past five days.
What Ault Global does: Ault Global is a diversified holding company with 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 buying those stocks.
What is going on: Shares of the company fell about 1.5% in today’s session and have lost 58% so far.
What Pingtan Marine Enterprise does: Pingtan Marine Enterprise is a marine enterprise group mainly engaged in ocean fishing.
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