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.
TMC the metals company
The Trade: TMC the metals company Inc. (NASDAQ: TMC) Director Andrei Karkar, Eras Capital Llc bought a total of 2250110 shares at an average price of $4.44. To acquire these shares, it cost $9,999,938.86.
What’s Happening: The company’s shares jumped more than 25% over the previous month.
What TMC the metals company Does: TMC The Metals Co is an explorer of lower-impact battery metals from seafloor polymetallic nodules.
Reed's
The Trade: Reed's, Inc. (NASDAQ: REED) CEO Norman E. Snyder Jr. acquired a total of 50000 shares shares at an average price of $0.59. The insider spent $29,500.00 to buy those shares.
What’s Happening: Reed's, in August, reported worse-than-expected Q2 sales results.
What Reed's Does: Reed's sells Ginger Beer brand. The company's portfolio of handcrafted, all-natural beverages sold in over 40,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants,
Cumberland Pharmaceuticals
The Trade: Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) Director Kenneth Krogulski acquired a total of 1785 shares at an average price of $2.83. To acquire these shares, it cost $5,049.85.
What’s Happening: Cumberland Pharmaceuticals announced the launch of RediTrex product line for active rheumatoid, juvenile idiopathic and severe psoriatic arthritis.
What Cumberland Pharmaceuticals Does: Cumberland Pharmaceuticals is a specialty pharmaceutical company operating in the United States.
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