US crude oil futures traded higher on Monday. 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.
TMC the metals company
- The Trade: TMC the metals company Inc. (NASDAQ: TMC) 10% owner ERAS Capital LLC acquired a total of 2,085,000 shares at an average price of $2.40. To acquire these shares, it cost $5.01 million.
- What’s Happening: TMC The Metals Company recently said FY21 EPS results were lower than the previous year.
- What TMC the metals company Does: TMC The Metals Co Inc is an explorer of lower-impact battery metals from seafloor polymetallic nodules. It supplies metals for the clean energy transition with the least possible negative environmental and social impact and accelerates the transition to a circular metal economy.
- The Trade: Oragenics, Inc. (NYSE: OGEN) Director Fred Telling acquired a total of 183,838 shares at an average price of $0.36. The insider spent around $66.05 thousand to buy those shares.
- What’s Happening: Oragenics recently reported it received audit opinion of going concern explanation.
- What Oragenics Does: Oragenics Inc is engaged in the healthcare sector. The firm is focused on becoming a leader in developing novel antibiotics against infectious diseases and on developing effective treatments for oral mucositis.
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Grove
- The Trade: Grove, Inc. (NASDAQ: GRVI) Director Gene Salkind acquired a total of 125,000 shares at an average price of $4.00. To acquire these shares, it cost around $500 thousand.
- What’s Happening: Grove recently launched multi city brand awareness and advertising campaign for Amazon (NASDAQ:AMZN) aggregation division, Upexi.
- What Grove Does: Grove, Inc., headquartered in Henderson, Nevada, through its subsidiaries, engages in developing, producing, marketing, and selling raw materials, white label products, and end consumer products containing the industrial hemp plant extract, cannabidiol.
Read at Benzinga