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.
NetSol Technologies
The Trade: NetSol Technologies, Inc. (NASDAQ:NTWK) CEO Najeeb Ghauri bought a total of 5000 shares at an average price of $4.63. To acquire these shares, it cost $23,150.00.
What’s Happening: The company’ recently reported upbeat quarterly sales.
What NetSol Technologies Does: NETSOL Technologies Inc is involved in providing information technology and enterprise software solutions. Its products and services include NFS Ascent, NFS Digital, Leasepak Cloud, Business consultancy, and information security services among others.
Sharing Services Global
The Trade: Sharing Services Global Corporation (OTC:SHRG) 10% owner Dss Inc. acquired a total of 46103 shares shares at an average price of $0.10. The insider spent $4,446.47 to buy those shares.
What’s Happening: The company’s shares gained around 3% over the previous month.
What Sharing Services Global Does: Sharing Services Global Corp is a diversified holding company specializing in the direct selling industry.
ZIOPHARM Oncology
The Trade: ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP) Director Jaime Vieser acquired a total of 100000 shares at an average price of $1.91. To acquire these shares, it cost $191,000.00..
What’s Happening: ZIOPHARM Oncology recently announced a strategic reduction in workforce and extension in cash runway.
What ZIOPHARM Oncology Does: ZIOPHARM Oncology is a biotechnology company that acquires, develops, and commercializes cancer therapies.
Flotek Industries
The Trade: Flotek Industries, Inc. (NYSE:FTK) CEO and President John Gibson Jr acquired a total of 2000 shares shares at an average price of $1.22. The insider spent $2,440.00 to buy those shares.
What’s Happening: Flotek Industries, during August, reported results for its second quarter.
What Flotek Industries Does: Flotek Industries delivers chemistry-based technology solutions for energy, industrial, and consumer applications.