3 Penny Stocks Insiders Buy

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.

Independence Contract Drilling

The trade: Independence Contract Drilling, Inc. (NYSE: ICD) 10% owner William Monroe acquired a total of 350587 shares at an average price of $4.10. The insider spent $1,438,567.44 to acquire those shares. The insider also sold a total of 15687 shares.

What is going on: Independence Contract Drilling signed a drilling contract last month for the reactivation of its 16th drilling rig that will operate in the Perm basin.

What does Independence Contract Drilling do: Independence Contract Drilling Inc is engaged in providing onshore contract drilling for oil and natural gas producers.

Athenex

The trade: Athenex, Inc. (NASDAQ: ATNX) Director Jinn Wu acquired a total of 10,000 shares shares at an average price of $2.67. The insider spent $26,700.00 to buy those shares.

What is going on: Athenex recently released an update to the FDA Type A meeting regarding Oral Paclitaxel + Encequidar in Metastatic Breast Cancer.

What Athenax does?: Athenex Inc is a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer.

akerna

The trade: Akerna Corp. (NASDAQ: KERN) Director Matthew Ryan Kane acquired a total of 13153 shares at an average price of $2.70. To acquire these shares, it cost $30,507.30.

What is going on: Akerna recently reported $20 million convertible debt financing from existing institutional investors.

What Akerna does?: Akerna Corp. is a United States-based company. The company is the first compliance technology company in the cannabis world.

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