U.S. stocks closed lower, with the Dow Jones falling over 200 points 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.
Archer Aviation
- The Trade: Archer Aviation Inc. (NYSE: ACHR) 10% owner Marc E Lore acquired a total of 98,980 shares at an average price of $3.24. To acquire these shares, it cost $320.76 thousand.
- What’s Happening: Archer Aviation is expected to report its Q4 financial results after market close on Monday, March 14, 2022.
- What Archer Aviation Does: Archer Aviation Inc advances the benefits of sustainable air mobility. It is creating the electric airline that moves people throughout cities in a quick, safe, sustainable, and cost-effective manner.
- The Trade: Nocopi Technologies, Inc. (OTC: NNUP) 10% owner Michael Liebowitz acquired a total of 229,576 shares at an average price of $0.19. The insider spent around $43.62 thousand to buy those shares.
- What’s Happening: The company’s stock dropped around 10% over the past six months.
- What Nocopi Technologies Does: Nocopi Technologies Inc develops and markets specialty reactive inks. Its main business activities are the development and distribution of document security products and the licensing of its patented reactive ink technologies for the entertainment and toy and the document and product authentication markets in the United States and foreign countries.
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Trean Insurance Group
- The Trade: Trean Insurance Group, Inc. (NASDAQ: TIG) General Counsel Patricia A Ryan acquired a total of 9,224 shares at an average price of $3.40. To acquire these shares, it cost around $17 thousand.
- What’s Happening: Trean Insurance recently reported Q4 earnings results and provided guidance.
- What Trean Insurance Does: Trean Insurance Group Inc is an insurance company. The company provides casualty insurance, other liability insurance, and workers compensation insurance.
- The Trade: Velodyne Lidar, Inc. (NASDAQ: VLDR) Director Kristin Slanina acquired a total of 26,000 shares at an average price of $1.52. The insider spent $39.5 thousand to buy those shares.
- What’s Happening: The company’s shares tumbled 46% over the past month.
- What Velodyne Lidar Does: Velodyne Lidar Inc provides smart, powerful lidar solutions.
Read at Benzinga