Porch Group And 2 Other Stocks Under $2 Insiders Are Aggressively Buying

The Dow Jones closed lower by over 300 points on Tuesday. 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.

Porch Group

• The Trade: Porch Group, Inc. PRCH CEO, Chairman and Founder Matthew Cullen acquired a total 209,440 shares an average price of $1.10. To acquire these shares, it cost around $230.97 thousand.
• What’s Happening: Porch Group posted a wider-than-expected loss for the first quarter.
• What Porch Group Does: Porch Group Inc is a vertical software company reinventing the home services and insurance industries.

Bionano Genomics

• The Trade: Bionano Genomics, Inc. BNGO CFO Christopher P Stewart acquired a total of 50,000 shares at an average price of $0.67. The insider spent around $33.41 thousand to buy those shares. The company’s CEO and president also bought the company’s shares.
• What’s Happening: Bionano Genomics posted a wider-than-expected loss for the first quarter.
• What Bionano Genomics Does: Bionano Genomics Inc is a life sciences instrumentation company in the genome analysis space.

urban-gro

• The Trade: urban-gro, Inc. UGRO Director Lewis Wilks acquired a total of 20,000 shares at an average price of $1.63. To acquire these shares, it cost around $32.59 thousand.
• What’s Happening: Urban-gro reported worse-than-expected first-quarter EPS results and reiterated its FY23 guidance.
• What urban-gro Does: Urban-gro Inc is a integrated professional services and construction design-build firm.

Check This Out: Top 5 Materials Stocks Which Could Rescue Your Portfolio This Quarter

Don’t forget to check out our premarket coverage here