US crude oil futures traded higher this morning. Investors, meanwhile, focused on some notable insider trades.
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.
Alset EHome International
- The Trade: Alset EHome International Inc. AEI CEO Chan Heng Fai acquired a total of 2,900,000 shares at an average price of $0.53. To acquire these shares, it cost $1.55 million.
- What’s Happening: Alset EHome International recently launched Alset Mining Inc. for cryptocurrency mining activities.
- What Alset EHome International Does: Alset EHome International Inc, formerly HF Enterprises Inc is a holding company. It is engaged in property development, digital transformation technology and biohealth activities.
- The Trade: Orchard Therapeutics plc ORTX CEO Bobby Gaspar acquired a total of 15,000 shares at an average price of $0.74. The insider spent around $11.09 thousand to buy those shares.
- What’s Happening: SMBC Nikko recently downgraded Orchard Therapeutics from Outperform to Neutral.
- What Orchard Therapeutics Does: Orchard Therapeutics PLC is a United Kingdom-based commercial-stage, a fully-integrated biopharmaceutical company.
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- The Trade: Cadiz Inc. CDZI Director Stephen Courter acquired a total of 10,200 shares at an average price of $2.22. To acquire these shares, it cost around $22.69 thousand.
- What’s Happening: Cadiz recently announced a new $12 million equity investment from a registered direct offering of 6.86 million shares of common stock at $1.75 per share.
- What Cadiz Does: Cadiz Inc is a land and water resource development company in California. Its primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage, and agriculture.
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