The Dow Jones settled higher by more than 500 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.
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.
Aytu BioPharma
- The Trade: Aytu BioPharma, Inc. AYTU CEO Joshua R Disbrow bought a total of 112,371 shares at an average price of $0.22. To acquire these shares, it cost around $25.05 thousand.
- What’s Happening: Aytu BioPharma, last month, posted a Q1 loss of $0.06 per share.
- What Aytu BioPharma Does: Aytu BioPharma Inc is a specialty pharmaceutical company with a commercial portfolio of prescription therapeutics and consumer health products.
OLB Group
- The Trade: The OLB Group, Inc. OLB Chairman and CEO Ronny Yakov acquired a total of 34,556 shares at an average price of $0.87. The insider spent around $30.02 thousand to buy those shares.
- What’s Happening: On December 15, OLB Group received notice from Nasdaq that the company has not been in compliance with minimum bid price requirement.
- What OLB Group Does: The OLB Group Inc is a diversified fintech e-commerce merchant services provider and Bitcoin crypto mining enterprise.
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Muscle Maker
- The Trade: Muscle Maker, Inc. GRIL Chief Investment Officer Kevin J Mohan acquired a total of 3,000 shares at an average price of $0.76. To acquire these shares, it cost around $2.28 thousand.
- What’s Happening: Muscle Maker’s new subsidiary Sadot LLC generated $54.19 million in revenue for November, its first month of operation and management by AGGIA LLC FZ.
- What Muscle Maker Does: Muscle Maker Inc is engaged in the restaurant business. It offers meals such as chicken, seafood, pasta, hamburgers, wraps, and flatbread among others.