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.
IDW Media
The Trade: IDW Media Holdings, Inc. (NYSE: IDW) Director Howard Jonas acquired a total of 4018669 shares at an average price of $3.60. The insider spent $2,304,000.00 to buy those shares. The insider also disposed a total of 3378669 shares.
What’s Happening: IDW, during September, reported a Q3 loss of $0.09 per share.
What IDW Media Does: IDW Media Holdings Inc is a diversified media company with operations in publishing, television entertainment, and media distribution.
MIND Technology
The Trade: MIND Technology, Inc. (NASDAQ: MIND) Director Peter H Blum acquired a total of 10000 shares shares at an average price of $1.70. The insider spent $17,000.00 to buy those shares.
What’s Happening: The company, in September, reported a wider-than-expected quarterly loss.
What MIND Technology Does: MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries.
Live Current Media
The Trade: Live Current Media Inc. (OTC: LIVC) Director Amir Vahabzadeh acquired a total of 38581 shares at an average price of $0.23. To acquire these shares, it cost $8,859.22.
What’s Happening: Live Current recently signed a new marketing agreement with Think Ink Marketing.
What Live Current Media Does: Live Current Media Inc is a digital technology company involved in the entertainment industry. Currently, the company is developing two projects, SPRT MTRX for App Store and Play Store and Boxing.com FEDERATION.
PHX Minerals
The Trade: PHX Minerals Inc. (NYSE: PHX) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 36093 shares shares at an average price of $3.04. The insider spent $109,653.11 to buy those shares.
What’s Happening: The company’s shares have climbed around 29% since the start of the year.
What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
Staffing 360 Solutions
The Trade: Staffing 360 Solutions, Inc. (NASDAQ: STAF) Chairman and CEO Brendan Flood acquired a total of 85501 shares shares at an average price of $2.47. The insider spent $5,352.49 to buy those shares.
What’s Happening: Staffing 360 Solutions reported a $9.25 million private placement priced at-the-market under Nasdaq rules.
What Staffing 360 Solutions Does: Staffing 360 Solutions Inc operates in the international staffing sector. It is engaged in the execution of an international buy-integrate-build process through the acquisition of domestic and international staffing organizations.
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