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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.

Athenex

The Trade: Athenex, Inc. (NASDAQ: ATNX) Director Jinn Wu acquired a total of 10000 shares shares at an average price of $2.67. The insider spent $26,700.00 to buy those shares.

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.

Akerna

The Trade: Akerna Corp. (NASDAQ: KERN) Director Matthew Ryan Kane acquired a total of 13153 shares at an average price of $2.70. To acquire these shares, it cost $30,507.30.

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.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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