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.
Document Security Systems
The Trade: Document Security Systems, Inc. (NYSE: DSS) Director Ambrose Fai Heng Chan, Alset Ehome International Inc acquired a total of 12155591 shares at an average price of $1.23. To acquire these shares, it cost $14,999,999.29.
What’s Happening: Alset Ehome International recently completed a subscription agreement with Document Security Systems.
What Document Security Systems Does: Document Security Systems is a multinational company operating business focused on four segments namely Direct Marketing/Online Sales Group; Premier Packaging; Digital Group; and IP Technology.
PEDEVCO
The Trade: PEDEVCO Corp. (NYSE: PED) CEO Simon Kukes acquired a total of 191778 shares shares at an average price of $1.23. The insider spent $234,975.47 to buy those shares.
What’s Happening: Pedevco, last month, reported Q2 EPS of $0.00, versus a year-ago loss of $0.04.
What PEDEVCO Does: PEDEVCO is an energy company. It is engaged in the acquisition, exploration, development, and production of oil and natural gas shale plays in the Denver-Julesberg Basin (D-J Basin) in Colorado.
Kiromic BioPharma
The Trade: Kiromic BioPharma, Inc. (NASDAQ: KRBP) CEO Maurizio Chiriva-Internati acquired a total of 2800 shares at an average price of $3.70. To acquire these shares, it cost $10,357.20.
What’s Happening: Kiromic BioPharma was recently granted EU patent titled 'Nanoparticle-Based Vaccine Targeting Cancer/Testis Antigens (CTA) And Its Use In Solid And Hematological Malignancies.'
What Kiromic BioPharma Does: Kiromic BioPharma is a bio-technology company. The company is a gene editing which utilizes artificial intelligence and proprietary neural network platform with a therapeutic focus on immuno-oncology.
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