The Nasdaq Composite gained by more than 100 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.3
BitNile Holdings
- The Trade: BitNile Holdings, Inc. (NYSE: NILE) Executive Chairman Milton C. Ault III acquired a total of 113,221 shares at an average price of $0.30. To acquire these shares, it cost around $34.35 thousand.
- What’s Happening: BitNile's subsidiary, TurnOnGreen, was recently awarded State, Federal, and Utility certifications for its electric vehicle chargers.
- What BitNile Holdings 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.
- The Trade: WaveDancer, Inc. (NASDAQ: WAVD) CEO James Gerald Benoit Jr acquired a total of 9,136 shares at an average price of $1.41. The insider spent around $12.9 thousand to buy those shares.
- What’s Happening: WaveDancer, said on July 8, that it entered into a common stock purchase agreement and a registration rights agreement with B. Riley Principal Capital to sell up to $15 million shares.
- What WaveDancer Does: WaveDancer Inc, formerly Information Analysis Inc is in the business of developing and maintaining information technology systems, modernizing client information systems, and performing professional services to government and commercial organizations.
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Bed Bath & Beyond
- The Trade: Bed Bath & Beyond Inc. (NASDAQ: BBBY) Director Andrea Weiss acquired a total of 2,000 shares at an average price of $4.61. To acquire these shares, it cost around $9.22 thousand.
- What’s Happening: The company’s stock tumbled 70% over the past six months.
- What Bed Bath & Beyond Does: Bed Bath & Beyond is a home furnishings retailer, operating 955 stores in all 50 states, Puerto Rico, Canada, and Mexico. Stores carry an assortment of branded bed and bath accessories, kitchen textiles, and cooking supplies.
- The Trade: AmeriServ Financial, Inc. (NASDAQ: ASRV) Director Kim Kunkle acquired a total of 2,000 shares at an average price of $3.92. The insider spent $7.84 thousand to buy those shares.
- What’s Happening: AmeriServ Financial recently announced that its Board of Directors declared a $0.03 per share quarterly common stock cash dividend.
- What AmeriServ Financial Does: AmeriServ Financial Inc is a bank holding company. The company and its subsidiaries derive substantially all of their income from banking, bank-related services, and trust-related services.
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