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.
The Trade: FlexShopper, Inc. FPAY Director Jo Howard Dvorkin acquired a total of 4456 shares shares at an average price of $1.73. The insider spent $7,719.68 to buy those shares.
What’s Happening: In May, FlexShopper reported a loss for its first quarter. The company’s shares are mostly unchanged year to date.
What FlexShopper Does: FlexShopper, which operates as a holding company in the US, is engaged in providing certain types of durable goods to consumers on a lease-to-own basis and providing lease-to-own (LTO) terms to consumers of third-party retailers and e-tailers.
Destiny Media Technologies
The Trade: Destiny Media Technologies Inc. DSNY Director Hyonmyong Cho acquired a total of 14300 shares shares at an average price of $1.38. The insider spent $19,718.27 to buy those shares.
What’s Happening: Destiny Media Technologies recently reported financial results for its fiscal 2021 third quarter ended May 31, 2021, with Play MPE revenue climbing 15.2%.
What Destiny Media Technologies Does: Destiny Media Technologies Inc is a provider of secure digital content distribution solutions.
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