The Dow Jones index closed higher by over 200 points 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.
Earth Science Tech
- The Acquisition: Earth Science Tech, Inc. ETST Director Yovan A. Sanchez obtained 50,000 shares at an average price of $0.05, entailing a cost of approximately $2,500.
- Revelation: On Nov. 13, the company revealed a net profit of $444,581 for its fiscal second quarter, compared to a loss of $73,678 in the previous year.
- Operations: Earth Science Tech Inc is a diversified holding company, currently focused on emerging prospects in the health and wellness industry.
22nd Century Group
- The Purchase: 22nd Century Group, Inc. XXII Director Andrew Arno acquired 100,000 shares at an average price of $0.17, at a cost of approximately $17,490.
- Relevant News: The 22nd Century Group recently announced the closure of its hemp/cannabis operations.
- Activities: 22nd Century Group Inc is a United States-based biotechnology company focused on utilizing alkaloid plant technologies to improve health and wellness with reduced nicotine tobacco, and hemp/cannabis.
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ADM Endeavors
- The Transaction: ADM Endeavors, Inc. ADMQ CEO Marc Johnson purchased 453,206 shares at an average price of $0.04, amounting to an investment of about $19,006.
- Developments: The company’s stock surged approximately 37% over the past month.
- Activities: ADM Endeavors Inc operates a diverse vertical integrated business, which consists of a retail sales division, focusing on screen print promotions, embroidery production, digital production, import wholesale sourcing, and uniforms.
OPKO Health
- The Trade: OPKO Health, Inc. OPK 10% owner Frost Gamma Investments Trust acquired 1,500,000 shares at an average price of $0.90, involving an expenditure of approximately $1.34 million. The company’s Vice Chairman and CTO PH Jane Hsiao also bought 150,010 shares at an average price of $0.87.
- Relevant Events: OPKO Health recently priced a private offering of $200 million convertible senior notes due 2029.
- Operations: OPKO Health Inc is a diversified biotechnology company operating pharmaceutical and diagnostic development programs.
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