The Dow Jones index closed higher by over 250 points on Monday. 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.
Barnwell Industries
- The Trade: Barnwell Industries, Inc. (NYSE:BRN) 10% owner Sherwood Revocable Trust acquired a total of 52,150 shares an average price of $2.80. To acquire these shares, it cost around $146,263.
- What's Happening: On Feb. 20, Barnwell Industries announced a planned CEO succession.
- What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.
Mobile Infrastructure
- The Trade: Mobile Infrastructure Corporation (NYSE:BEEP) CEO Manuel Chavez III acquired a total of 55,116 shares at at an average price of $ $3.39. To acquire these shares, it cost around $186,843.
- What's Happening: Mobile Infrastructure is expected to issue its first quarter 2024 earnings release on May 15, 2024.
- What Mobile Infrastructure Does: Mobile Infrastructure Corp focuses on acquiring, owning, and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States.
Galectin Therapeutics
- The Trade: Galectin Therapeutics Inc. (NASDAQ:GALT) Director Kevin D Freeman acquired a total of 2,500 shares at an average price of $2.98. The insider spent around $7,450 to buy those shares.
- What's Happening: On April 9, HC Wainwright & Co. analyst Ed Arce reiterated Galectin Therapeutics with a Buy and maintained a price target of $11.
- What Galectin Therapeutics Does: Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company. The company focuses on drug research and development to create new therapies for fibrotic disease, cancer, and selected other diseases.
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