U.S. stock futures traded slightly higher this morning on Tuesday. 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: Nautilus Biotechnology, Inc. NAUT CEO, President and Secretary Sujal Patel bought a total of 50,000 shares at an average price of $2.92. To acquire these shares, it cost around $146.09 thousand.
- What’s Happening: The company recently posted a narrower-than-expected quarterly loss.
- What Nautilus Biotechnology Does: Nautilus Biotechnology Inc is a development stage life sciences company creating a platform technology for quantifying and unlocking the complexity of the human proteome.
- The Trade: Gannett Co., Inc. GCI CEO Michael Reed acquired a total of 500,000 shares at an average price of $2.44. The insider spent around $1.22 million to buy those shares.
- What’s Happening: Gannett recently reported worse-than-expected Q2 sales results.
- What Gannett Does: Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S.
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- The Trade: Sharps Technology, Inc. STSS CEO Robert M. Hayes acquired a total of 2,000 shares at an average price of $1.15. To acquire these shares, it cost around $2.29 thousand.
- What’s Happening: Sharps Technology, last month, received a Notice of Allowance for U.S. patent titled 'ultra-low waste disposable safety syringe for low dose injections.'
- What Sharps Technology Does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products.
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