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.
Simply
The Trade: Simply, Inc. (OTC:SIMP) 10% owner Sol Verano Blocker Llc acquired a total of 321420 shares at an average price of $3.11. To acquire these shares, it cost $1,000,000.65.
What’s Happening: Simply, last month, announced the grand opening of its new Simply Mac retail store in Tuscaloosa, Alabama.
What Simply Does: Simply through its subsidiary, operates a chain of retail electronics stores and is an authorized reseller of Apple products and other high-profile consumer electronic brands.
Sharing Services Global
The Trade: Sharing Services Global Corporation (OTC:SHRG) 10% owner Document Security Systems Inc acquired a total of 53750 shares shares at an average price of $0.10. The insider spent $5,375.00 to buy those shares.
What’s Happening: The company’s shares have dropped over 10% since the start of the year.
What Sharing Services Global Does: Sharing Services Global is a diversified holding company specializing in the direct selling industry.
NGL Energy Partners
The Trade: NGL Energy Partners LP (NYSE:NGL) Executive Vice President John Ciolek acquired a total of 10000 shares at an average price of $1.78. To acquire these shares, it cost $17,800.00.
What’s Happening: NGL Energy Partners, last month, appointed Linda Bridges as CFO.
What NGL Energy Partners Does: NGL Energy Partners is a US-based firm that owns and operates a vertically integrated energy business.