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.
Charles & Colvard
The Trade: Charles & Colvard, Ltd. CTHR Director Ollin Sykes acquired a total of 86050 shares at an average price of $1.18. To acquire these shares, it cost $101,578.10.
What’s Happening: Charles & Colvard recently reported fourth-quarter FY21 sales growth of 119.5% year-on-year, to $9.73 million.
What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.
MIND Technology
The Trade: MIND Technology, Inc. MIND Director Peter H Blum acquired a total of 30000 shares shares at an average price of $1.92. The insider spent $57,600.00 to buy those shares.
What’s Happening: The company recently reported downbeat quarterly results.
What MIND Technology Does: MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries.
Reed's
The Trade: Reed's, Inc. REED Director John Bello acquired a total of 100000 shares at an average price of $0.56. To acquire these shares, it cost $56,000.00.
What’s Happening: Reed's, last month, reported worse-than-expected Q2 sales.
What Reed's Does: Reed's sells Ginger Beer brand. The company's portfolio of handcrafted, all-natural beverages sold in over 40,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores and on-premise locations including bars and restaurants.
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