The Dow Jones index closed lower by more than 250 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.
Sharps Technology Inc: CEO Shows Confidence
- The Trade: Sharps Technology, Inc. STSS CEO Robert Michael Hayes acquired a total of 10,200 shares an average price of $0.36. To acquire these shares, it cost around $3,646.
- What’s Happening: Sharps Technology signed a LOI with Roncadelle Operations enabling the companies to cooperatively sell and distribute each other’s productive.
- What Sharps Technology Does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products. Sharps provensa ultra-low waste smart safety syringes are designed to eliminate over two million potentially infectious and accidental needlestick injuries.
Insiders Bullish on Better Choice Company
- The Trade: Better Choice Company Inc. BTTR Director Michael Young acquired a total of 1.14 million shares at at an average price of $0.20. To acquire these shares, it cost around $102,578.
- What’s Happening: Better Choice, during November, posted a narrower-than-expected third-quarter loss.
- What Better Choice Company Does: Better Choice Co Inc is a pet health and wellness portfolio company, offering consumers a wide variety of recognized premium pet products and hemp-derived CBD supplements.
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Arcadia Biosciences: Positive Momentum
- The Trade: Arcadia Biosciences, Inc. RKDA CFO Thomas J. Schaefer acquired a total of 700 shares at an average price of $2.06. The insider spent around $1,442 to buy those shares.
- What’s Happening: Arcadia Biosciences, during November, posted a narrower-than-expected quarterly loss.
- What Arcadia Biosciences Does: Arcadia Biosciences Inc is a producer and marketer of innovative, plant-based food and beverage products.
