The Dow Jones closed higher by more than 1% on Monday. 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.
PHX Minerals
- The Trade: PHX Minerals Inc. PHX 10% owner Jonathan Brolin acquired a total of 5,451 shares an average price of $2.38. To acquire these shares, it cost around $12.97 thousand.
- What’s Happening: PHX Minerals posted downbeat Q1 earnings.
- 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.
Heritage Insurance Holdings
- The Trade: Heritage Insurance Holdings, Inc. HRTG CEO Ernie J Garateix acquired a total 2,000 shares at an average price of $3.11. The insider spent around $6.22 thousand to buy those shares.
- What’s Happening: Heritage Insurance reported better-than-expected Q4 sales results.
- What Heritage Insurance Does: Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products.
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IO Biotech
- The Trade: IO Biotech, Inc. IOBT CFO Amy Sullivan acquired a total of 25,000 shares at an average price of $2.32. To acquire these shares, it cost around $58.02 thousand.
- What’s Happening: IO Biotech posted a wider-than-expected quarterly loss.
- What IO Biotech Does: IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on T-win technology platform.
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Bird Global
- The Trade: Bird Global, Inc. BRDS CEO Shane Torchiana acquired a total of 200,000 shares at an average price of $0.13. The insider spent $26 thousand to buy those shares.
- What’s Happening: Bird Global reported better-than-expected Q4 sales results.
- What Bird Global Does: Bird Global Inc is a micro-mobility company engaged in delivering electric transportation solutions for short distances.