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.
Independence Contract Drilling
The Trade: Independence Contract Drilling, Inc. (NYSE: ICD) 10% owner William Monroe acquired a total of 350587 shares at an average price of $4.10. The insider spent $1,438,567.44 to acquire those shares. The insider also disposed a total of 15687 shares.
What’s Happening: Independence Contract Drilling, last month, signed a drilling contract for the reactivation of its 16th rig which will work in the Permian Basin.
What Independence Contract Drilling Does: Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers.
What’s Happening: Athenex recently issued an update from the FDA Type A meeting regarding oral Paclitaxel + Encequidar in metastatic breast cancer.
What Athenex Does: Athenex Inc is a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer.
What’s Happening: Akerna recently reported a $20 million convertible debt financing from existing institutional investors.
What Akerna Does: Akerna Corp is a United States-based company. The firm is the first compliance technology company in the cannabis space.
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