The Dow Jones jumped more than 500 points on Friday. 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.
Ribbon Communications
- The Trade: Ribbon Communications Inc. (NASDAQ:RBBN) Preseident and CEO William Bruce McClelland acquired a total 10,000 shares an average price of $2.60. To acquire these shares, it cost around $26 thousand. The company's EVP and CFO also purchased the company's shares.
- What's Happening: Ribbon Comms posted a narrower-than-expected quarterly loss.
- What Ribbon Communications Does: Ribbon Communications Inc provides network solutions primarily to telecommunications, wireless and cable service providers worldwide.
TCR2 Therapeutics
- The Trade: TCR2 Therapeutics Inc. (NASDAQ:TCRR) 10% owner Tang Capital Partners LP acquired a total of 289,577 shares at an average price of $1.89. The insider spent around $547.94 thousand to buy those shares.
- What's Happening: TCR2 Therapeutics posted a wider Q4 loss.
- What TCR2 Therapeutics Does: TCR2 Therapeutics Inc is a clinical-stage cell therapy company. It is engaged in developing a pipeline of novel T cell therapies for cancer patients suffering from solid tumors by powering the T cell receptor (TCR) with its proprietary, first-in-class TCR Fusion Construct T cells (TRuC-T cells).
Creek Road Miners
- The Trade: Creek Road Miners, Inc. (OTC:CRKR) Director Michael Martin Breen acquired a total of 1,134,683 shares at an average price of $0.12. To acquire these shares, it cost around $138.11 thousand.
- What's Happening: Creek Road Miners, Inc. completed merger with Prairie Operating Co., LLC, establishing Prairie Operating Co.
- What Creek Road Miners Does: Creek Road Miners Inc develops and operates bitcoin mining scaled-up facilities using natural gas to power the operations. It generates substantially all its revenue through cryptocurrency, which it earns through mining activities.
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