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: Boxlight Corporation (NASDAQ:BOXL) President Mark Starkey acquired a total of 20000 shares at an average price of $2.31. To acquire these shares it cost $46,200.00.
What is going on: Boxlight recently reported better-than-expected Q2 results.
What Boxlight does?: Boxlight is an education technology company. It develops, sells and maintains interactive classroom solutions for the education market.
The trade: HCW Biologics Inc. (NASDAQ: HCWB) Senior Vice President Business Development Lee Flowers acquired a total of 13458 shares shares at an average price of $4.03. The insider spent $54,225.86 to buy those shares.
What is going on: HCW Biologics recently reported a second quarter net loss of $2.8 million.
What HCW Biologics does?: HCW Biologics Inc. is a preclinical biopharmaceutical company focused on discovering and developing novel immunotherapies to prolong health by disrupting the link between chronic, low-grade inflammation and age-related diseases.
The trade: Already, Inc. (NASDAQ: REED) Director John Bello acquired a total of 135,000 shares at an average price of $0.72. To acquire these shares it cost $97,200.00.
What is going on: Reed’s recently reported worse-than-expected Q2 sales.
What does Reed’s do?: Reed’s Inc sells Ginger Beer brand. The company’s portfolio of handcrafted, all-natural beverages is sold in more than 40,000 retail outlets nationwide, including the Natural and Specialty Food Channel, supermarkets, chain stores, drug stores, convenience stores, club stores and on-premises locations including bars and restaurants.
The trade: Amplify Energy Corp. (NYSE: AMPY) Director David Proman acquired a total of 15,000 shares shares at an average price of $3.36. The insider spent $50,379.00 to buy those shares.
What is going on: The company reported a smaller quarterly loss earlier this month.
What Amplify Energy does?: Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, operation and production of oil and natural gas properties in the United States.
ReShape Life Sciences
The trade: ReShape Life Sciences Inc. (NASDAQ: RSLS) Chief Financial Officer Thomas Stankovich acquired a total of 15,000 shares at an average price of $3.22. To acquire these shares, it cost $48,285.00.
What is going on: The company recently reported second-quarter revenue of $3.5 million, up from $1.7 million in the same period a year ago.
What ReShape Lifesciences does?: Reshape Lifesciences Inc. is a developer of minimally invasive medical devices for the treatment of obesity and metabolic diseases.
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