The Dow Jones jumped by more than 300 points 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
Axcella Health
- The Trade: IDW Media Holdings, Inc. (NYSE:IDW) CEO Allan Grafman bought a total of 5,000 shares at an average price of $1.53. To acquire these shares, it cost around $7.65 thousand.
- What's Happening: IDW Media Holdings, last month, posted a Q3 loss of $0.06 per share.
- What IDW Media Does: IDW Media Holdings Inc is a diversified media company with operations in publishing, television entertainment, and media distribution.
Everything Blockchain
- The Trade: Everything Blockchain, Inc. (OTC:OBTX) Director Michael Hawkins acquired a total of 11,593 shares at an average price of $2.16. The insider spent around $25.04 thousand to buy those shares.
- What's Happening: Everything Blockchain entered into an agreement with SP Capital Management, LLC to develop a World Medical Platform and electronic medical records built on blockchain technology.
- What Everything Blockchain Does: Everything Blockchain Inc is a blockchain development, architecture, and software designer.
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Astrotech
- The Trade: Astrotech Corporation (NASDAQ:ASTC) 10% owner Braden Michael Leonard acquired a total of 216,434 shares at an average price of $0.38. To acquire these shares, it cost around $81.84 thousand.
- What's Happening: Astrotech, last month, reported FY22 revenue of $869,000.
- What Astrotech Does: Astrotech Corp is a science and technology development company. The firm invents, acquires, and commercializes technological innovations sourced from internal research, universities, laboratories, and research institutions.