Benzinga - The Dow Jones closed lower by over 100 points on Wednesday after the Fed raised interest rates by 50 bps. 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.
DSS
- The Trade: DSS, Inc. (NYSE: DSS) Director Heng Fai Ambrose Chan bought a total of 334,921 shares at an average price of $0.23. To acquire these shares, it cost around $75.89 thousand.
- What’s Happening: The company’s stock dipped around 43% over the past six months.
- What DSS Does: DSS Inc is operating a business focused on four segments namely Direct Marketing/Online Sales Group; Premier Packaging; Digital Group; and IP Technology.
- The Trade: Vincerx Pharma, Inc. (NASDAQ: VINC) CEO Dr. Ahmed M. Hamdy acquired a total of 35,280 shares at an average price of $0.87. The insider spent around $30.54 thousand to buy those shares.
- What’s Happening: Vincerx Pharma announced FDA safe to proceed letter for investigational new drug application for its αVβ3 small molecule-drug conjugate VIP236.
- What Vincerx Pharma Does: Vincerx Pharma Inc is a clinical-stage biopharmaceutical company focused on development and oncology expertise to advance new therapies intended to address unmet medical needs for the treatment of cancer.
Don’t forget to check out our premarket coverage here .
Nogin
- The Trade: Nogin, Inc. (NASDAQ: NOGN) Co-CEO and President Jonathan Huberman acquired a total of 19,300 shares at an average price of $0.90. To acquire these shares, it cost around $17.28 thousand.
- What’s Happening: Nogin, said on December 2, that it received written notice from Nasdaq notifying that the company no longer complies with minimum bid price required for continued listing.
- What Nogin Does: Nogin Inc delivers commerce as a service to leading brands in the fashion, CPG, beauty, health, and wellness industries.
- The Trade: DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) Director Ken Sanders acquired a total of 67,000 shares at an average price of $0.29. The insider spent $19.36 thousand to buy those shares.
- What’s Happening: DIRTT Environmental Solutions recently reported better-than-expected Q3 EPS and sales results.
- What DIRTT Environmental Solutions Does: Dirtt Environmental Solutions Ltd is a manufacturer of customized interiors.