U.S. stocks opened slightly lower on Friday. Investors, meanwhile, focused on some notable insider trades.
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.3
CalAmp
- The Trade: CalAmp Corp. (NASDAQ: CAMP) Director Wes Cummins acquired a total of 225,000 shares at an average price of $4.49. To acquire these shares, it cost around $1.01 million.
- What’s Happening: CalAmp recently reported worse-than-expected Q1 adjusted EPS and sales results.
- What CalAmp Does: CalAmp Corp provides wireless communications solutions applications to customers.
- The Trade: Black Diamond Therapeutics, Inc. (NASDAQ: BDTX) Fang Ni acquired a total of 25,000 shares at an average price of $2.44. The insider spent around $61.02 thousand to buy those shares.
- What’s Happening: Black Diamond Therapeutics, in May, posted a Q1 loss of $0.70 per share.
- What Black Diamond Therapeutics Does: Black Diamond Therapeutics Inc is a precision oncology medicine company.
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Heritage Insurance Holdings
- The Trade: Heritage Insurance Holdings, Inc. (NYSE: HRTG) Chief Financial Officer Kirk Lusk acquired a total of 10,000 shares at an average price of $2.61. To acquire these shares, it cost around $26.1 thousand.
- What’s Happening: Heritage Insurance, during May, posted a Q1 loss of $1.15 per share.
- What Heritage Insurance Does: Heritage Insurance Holdings Inc is a regional property and casualty insurance company that offers a variety of personal and commercial insurance products.
- The Trade: BitNile Holdings, Inc. (NYSE: NILE) Executive Chairman Milton C. Ault III acquired a total of 900,000 shares at an average price of $0.27. The insider spent $246.87 thousand to buy those shares.
- What’s Happening: BitNile recently announced $4 million from XBTO for Bitcoin miner financing with an additional $4 million expected to close by the end of June 2022.
- What BitNile Does: BitNile Holdings Inc is a diversified holding company owning subsidiaries engaged in commercial and defence solutions, commercial lending, and data centre operations in North America, Europe, the Middle East, and internationally.
Read at Benzinga