US stock futures traded higher on Thursday, with the Dow futures adding more than 200 points this morning. 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
Nocopi Technologies
The Trade: Nocopi Technologies, Inc. (OTC:NNUP) 10% owner Michael Liebowitz acquired a total of 9,175,927 shares at an average price of $0.17. To acquire these shares, it cost $1.55 million.
What's Happening: Nocopi Technologies recently announced results for its first quarter ended March 31, 2022.
What Nocopi Technologies Does: Nocopi Technologies Inc develops and markets specialty reactive inks. Its main business activities are the development and distribution of document security products and the licensing of its patented reactive ink technologies for the entertainment and toy and the document and product authentication markets in the United States and foreign countries.
Second Sight Medical Products
The Trade: Second Sight Medical Products, Inc. (NASDAQ:EYES) Director Gregg Williams acquired a total of 222,598 shares at an average price of $1.97. The insider spent around $438.6 thousand to buy those shares.
What's Happening: Second Sight Medical was recently granted a Notice of Allowance for U.S. patent titled 'Face Detection Tracking And Recognition For A Visual Prosthesis.'
What Second Sight Medical Products Does: Second Sight Medical Products Inc develops, manufactures, and markets implantable prosthetic devices to create an artificial form of useful vision for blind individuals.
Also check this: Home Depot And 2 Other Stocks Insiders Are Buying
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