The Dow Jones closed lower by around 0.5% on Thursday. 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.
Glatfelter
- The Trade: Glatfelter Corporation (NYSE:GLT) 10% owner Duane Clint Carlson acquired a total of 236,000 shares an average price of $1.80. To acquire these shares, it cost around 424,800.
- What's Happening: Glatfelter entered into an agreement with Ekman & Co. to market Glatfelter's high quality, specialty Abaca pulp exclusively through Ekman's global sales agency platform.
- What Glatfelter Does: Glatfelter Corporation manufactures and sells a variety of paper and fiber products. The company operates through two segments: Composite Fibers and Airlaid Materials.
Dalrada Financial
- The Trade: Dalrada Financial Corporation (OTC:DFCO) CEO Brian Bonar acquired a total of 7,300 shares at an average price of $0.25. To acquire these shares, it cost around $1,809.
- What's Happening: Dalrada Financial said its subsidiary, Dalrada Technology Spain, entered into an agreement with JBS Consulting, a Paris-based distributor, to build and install as many as 2,300 commercial-grade, energy-efficient heat pumps over the course of five years.
- What Dalrada Financial Does: Dalrada Financial Corp is a United States-based company engaged in providing financial, insurance, benefit, and business process outsourcing products and services to companies.
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Lexicon Pharmaceuticals
- The Trade: Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Raymond Debbane acquired a total of 1,000,000 shares at an average price of $1.10. The insider spent $1.1 million to buy those shares.
- What's Happening: Lexicon Pharmaceuticals said findings from two studies on the cost-effectiveness and budget impact of INPEFA (sotagliflozin) will be presented at the Academy of Managed Care Pharmacy (AMCP) Nexus 2023 National Meeting on October 16-19, 2023, in Orlando, Florida.
- What Lexicon Pharmaceuticals Does: Lexicon Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in the discovery, development, and commercialization of pharmaceutical products for the treatment of human diseases.
Augusta Gold
- The Trade: Augusta Gold Corp. (OTC:AUGG) Executive Chairman Richard Warke acquired a total of 15,000 shares at an average price of $0.51. The insider spent around $7,600.
- What's Happening: The company's stock gained around 9% over the past month.
- What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties.
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