The Dow Jones index closed higher by around 0.1% 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.
Great Elm Group
- The Trade: Great Elm Group, Inc. (NASDAQ:GEG) 10% owner Imperial Capital Group Holdings II, LLC acquired a total of 124,090 shares an average price of $1.96. To acquire these shares, it cost around $238,539.
- What's Happening: On Feb. 13, Great Elm Group posted a loss for the second quarter.
- What Great Elm Group Does: Great Elm Group Inc operates as a holding company. It focuses on growing a scalable and diversified portfolio of long-duration, permanent capital vehicles across corporate credit, specialty finance, real estate, and other asset classes.
Earth Science Tech
- The Trade: Earth Science Tech, Inc. (OTC:ETST) CEO Giorgio R. Saumat acquired a total of 15,000 shares at at an average price of $0.08. To acquire these shares, it cost around $1,199.
- What's Happening: On Jan. 29, Earth Science Tech announced a $5 million common stock repurchase program.
- What Earth Science Tech Does: Earth Science Tech Inc is a diversified holding company. Currently, the company is focused on emerging prospects in the health and wellness industry.
Emmaus Life Sciences
- The Trade: Emmaus Life Sciences, Inc. (OTC:EMMA) Co-President and COO Willis C Lee acquired a total of 115,200 shares at an average price of $0.13. The insider spent around $14,694 to buy those shares.
- What's Happening: On Feb. 2, Emmaus Life Sciences received marketing authorization for Puerto Rico.
- What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.
Don't forget to check out our premarket coverage here