Bank of America BAC reported weaker-than-expected results for its second quarter. 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.3
- The Trade: BitNile Holdings, Inc. NILE Executive Chairman Milton C. Ault III acquired a total of 320,000 shares at an average price of $0.32. To acquire these shares, it cost around $102.34 thousand.
- What’s Happening: BitNile's subsidiary, TurnOnGreen, was awarded State, Federal, and Utility certifications for its electric vehicle chargers.
- What BitNile Does: BitNile Holdings Inc is a diversified holding company owning subsidiaries engaged in commercial and defence solutions, commercial lending, and data centre operations in North America, Europe, the Middle East, and internationally.
- The Trade: TRACON Pharmaceuticals, Inc. TCON 10% owner Opaleye Management Inc acquired a total of 11,826 shares at an average price of $1.78. The insider spent around $21.07 thousand to buy those shares.
- What’s Happening: TC BioPharm, last month, announced pricing of a $4 million underwritten public offering.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
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