The Dow Jones closed higher by more than 700 points on Wednesday. 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: BK Technologies Corporation BKTI 10% owner BK Technologies Holdings, LLC bought a total of 50,000 shares at an average price of $2.75. To acquire these shares, it cost around $137.36 thousand.
- What’s Happening: The company, last month, posted downbeat quarterly results.
- What BK Technologies Does: BK Technologies Corp designs, manufactures, markets wireless communication products.
- The Trade: Celularity Inc. CELU CEO Robert Hariri acquired a total of 10,000 shares at an average price of $1.72. The insider spent around $17.18 thousand to buy those shares.
- What’s Happening: Celularity, last month, posted Q3 EPS of $0.03.
- What Celularity Does: Celularity Inc is a clinical-stage biotechnology company developing off-the-shelf placental-derived allogeneic cell therapies including genetically modified and unmodified NK cells, engineered T cells including CAR-T cells, and mesenchymal-like adherent stromal cells, targeting indications across cancer, immunologic, infectious, and degenerative diseases.
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- The Trade: TD Holdings, Inc. GLG CEO Renmei Ouyang acquired a total of 10,000,000 shares at an average price of $1.15. To acquire these shares, it cost around $11.5 million.
- What’s Happening: TD Hldgs recently posted Q3 EPS of $0.02.
- What TD Holdings Does: TD Holdings Inc is engaged in commodity trading business and supply chain service business in China.
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