The Nasdaq Composite dropped by over 300 points on Friday despite better-than-expected jobs data for May. 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
Nerdy
- The Trade: Nerdy, Inc. (NYSE: NRDY) CEO Charles Cohn acquired a total of 452,892 shares at an average price of $2.85. To acquire these shares, it cost $1.29 million.
- What’s Happening: Canaccord Genuity recently maintained Nerdy with a Buy and lowered the price target from $8 to $7.
- What Nerdy Does: Nerdy Inc is a curated direct-to-consumer platform for live online learning. Its purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network.
- The Trade: OppFi Inc. (NYSE: OPFI) CEO Todd G Schwartz acquired a total of 23,947 shares at an average price of $3.30. The insider spent around $78.92 thousand to buy those shares.
- What’s Happening: OppFi reaffirmed its FY22 guidance.
- What OppFi Does: OppFi Inc is a financial technology platform that powers banks to help the everyday consumer gain access to credit.
Don’t forget to check out our premarket coverage here .
SQL Technologies
- The Trade: SQL Technologies Corp. (NASDAQ: SKYX) Director Dov Shiff acquired a total of 10,883 shares at an average price of $3.57. To acquire these shares, it cost around $38.89 thousand.
- What’s Happening: SQL Technologies, last month, posted a Q1 loss of $0.23 per share.
- What SQL Technologies Does: SQL Technologies Corp operates in the business of developing proprietary technology that enables a quick and safe installation of electrical fixtures, such as light fixtures and ceiling fans.
Read at Benzinga