$1 Million Bet On This Penny Stock? Check Out These 4 Penny Stocks Insiders Are Buying

The Dow Jones surged by more than 800 points on Thursday. 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

Marygold Companies

  • The Trade: The Marygold Companies, Inc. MGLD Chief Operations Officer David Neibert bought a total of 7,500 shares at an average price of $1.30. To acquire these shares, it cost around $9.72 thousand.
  • What’s Happening: Marygold Companies recently posted Q2 EPS of $0.03.
  • What Marygold Companies Does: The Marygold Companies Inc is engaged in identifying and acquiring established, profitable, undervalued companies in diverse sectors, and managing the portfolio to facilitate growth and add value for all stakeholders.

Martin Midstream Partners

  • The Trade: Martin Midstream Partners L.P. MMLP President and CEO Robert D Bondurant acquired a total of 907.0816 shares at an average price of $3.66. The insider spent around $3.32 thousand to buy those shares.
  • What’s Happening: Martin Midstream Partners recently announced the sale of Stockton California Sulfur Terminal for $5.25 million.
  • What Martin Midstream Partners Does: Martin Midstream Partners LP has a diverse set of operations focused in the United States Gulf Coast region.

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Tango Therapeutics

  • The Trade: Tango Therapeutics, Inc. TNGX Director Aaron Davis acquired a total of 237,000 shares at an average price of $4.41. To acquire these shares, it cost around $1.04 million.
  • What’s Happening: Tango Therapeutics recently announced presentation of preclinical data on TNG260 and discovery platform advances at SITC 37th Annual Meeting.
  • What Tango Therapeutics Does: Tango Therapeutics Inc is a biotechnology company. It is dedicated towards discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer.

Great Elm Group

  • The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC acquired a total of 14,174 shares at an average price of $2.00. The insider spent $28.35 thousand to buy those shares.
  • What’s Happening: Great Elm Group, last month, posted Q4 sales of $18.10 million, up from $16.32M year over year.
  • What Great Elm Group Does: Great Elm Group Inc operates as a holding company. The company operates in two business lines including durable medical equipment and investment management.
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