The Nasdaq 100 dropped by more than 200 points on Thursday. 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
Better Therapeutics
- The Trade: Better Therapeutics, Inc. (NASDAQ: BTTX) Director Frank Karbe bought a total of 50,000 shares at an average price of $2.09. To acquire these shares, it cost around $104.69 thousand.
- What’s Happening: Better Therapeutics, last month, reported Q2 R&D expenses of $4.2 million.
- What Better Therapeutics Does: Better Therapeutics Inc is a prescription digital therapeutics company developing a novel form of cognitive behavioural therapy to address the root causes of cardiometabolic diseases.
- The Trade: Bridgeline Digital, Inc. (NASDAQ: BLIN) President and CEO Roger E Kahn acquired a total of 79,820 shares at an average price of $1.58. The insider spent around $126.06 thousand to buy those shares.
- What’s Happening: Ladenburg Thalmann recently initiated coverage on Bridgeline Digital with a Buy rating and announced a price target of $4.5.
- What Bridgeline Digital Does: Bridgeline Digital Inc is a developer of web application management software and web applications to maximize the performance of critical websites, intranets, and online stores.
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Globalstar
- The Trade: Globalstar, Inc. (NYSE: GSAT) Director Benjamin Wolff acquired a total of 5,193 shares at an average price of $1.75. To acquire these shares, it cost around $9.06 thousand.
- What’s Happening: Globalstar recently announced it will be the satellite operator for Apple (NASDAQ:AAPL) satellite-enabled services. The company will receive payments from Apple under the partnership agreement.
- What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.