The Nasdaq Composite jumped by around 250 points on Friday. 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: PHX Minerals Inc. PHX 10% owner Jonathan Brolin bought a total of 29,160 shares at an average price of $3.17. To acquire these shares, it cost around $92.4 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
- The Trade: Traeger, Inc. COOK CEO Jeremy Andrus acquired a total of 68,644 shares at an average price of $2.96. The insider spent around $202.93 thousand to buy those shares.
- What’s Happening: Traeger, last month, reported worse-than-expected Q2 EPS and sales results and reduced FY22 sales guidance below estimates.
- What Traeger Does: Traeger Inc designs, sources, sells, and supports wood pellet fueled barbeque grills sold to retailers, distributors, and direct to consumers.
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- The Trade: MarketWise, Inc. MKTW 10% owner Frank Porter Stansberry acquired a total of 331,279 shares at an average price of $2.51. To acquire these shares, it cost around $832.19 thousand.
- What’s Happening: The company, last month, posted downbeat quarterly sales.
- What MarketWise Does: Marketwise Inc is a multi-brand subscription services platform providing premium financial research, software, education, and tools for investors.
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