US stock futures traded higher this morning 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
NaturalShrimp
- The Trade: NaturalShrimp Incorporated (OTC: SHMP) Chief Technology Officer & COO Thomas Untermeyer acquired a total of 77,300 shares at an average price of $0.19. To acquire these shares, it cost $14.69 thousand.
- What’s Happening: NaturalShrimp, last month, appointed independent directors Thomas B. Pickens III, Dr. Paraic J. Mulgrew, Dr. Edward R. Rashid, and Edward Johnson to the Board of Directors..
- What NaturalShrimp Does: NaturalShrimp Inc is a shrimp farming biotechnology company.
- The Trade: American Resources Corporation (NASDAQ: AREC) President Thomas M Sauve acquired a total of 5,000 shares at an average price of $1.50. The insider spent around $7.5 thousand to buy those shares.
- What’s Happening: American Resources recently posted a Q1 loss of $0.04 per share.
- What American Resources Does: American Resources Corp is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market.
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Petroteq Energy
- The Trade: Petroteq Energy Inc. (OTC: PQEFF) 10% owner Anthony Cantone acquired a total of 104,500 shares at an average price of $0.24. To acquire these shares, it cost around $25.51 thousand.
- What’s Happening: The company’s shares jumped over 60% over the past six months.
- What Petroteq Energy Does: Petroteq Energy Inc is a fully integrated oil and gas company focused on the development and implementation of new proprietary technology for oil extraction.
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- The Trade: Meta Materials Inc. (NASDAQ: MMAT) Director Allison Christilaw acquired a total of 15,000 shares at an average price of $1.67. The insider spent $25.05 thousand to buy those shares.
- What’s Happening: The company recently posted upbeat quarterly sales.
- What Meta Materials Does: Meta Materials Inc delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials.
Read at Benzinga