US crude oil futures traded higher 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.
Eastside Distilling
- The Trade: Eastside Distilling, Inc. (NASDAQ: EAST) CEO, CFO, Director Geoffrey C Gwin acquired a total of 200,000 shares at an average price of $0.98. To acquire these shares, it cost $196.72 thousand.
- What’s Happening: The company’s stock gained 20% over the past month.
- What Eastside Distilling Does: Eastside Distilling Inc is a producer and marketer of craft spirits. Its alcoholic beverage categories include whiskey, vodka, gin, rum, tequila, and Ready-to-Drink.
- The Trade: Petroteq Energy Inc. (OTC: PQEFF) 10% owner Anthony Cantone acquired a total of 33,552,083 shares at an average price of $0.10. The insider spent around $3.52 million to buy those shares.
- What’s Happening: The company’s stock has gained over 56% since the start of the year.
- 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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Alset EHome International
- The Trade: Alset EHome International Inc. (NASDAQ: AEI) CEO Chan Heng Fai acquired a total of 1,204,542 shares at an average price of $0.57. To acquire these shares, it cost around $681.06 thousand.
- What’s Happening: The company’s stock tumbled 57% over the past six months.
- What Alset EHome International Does: Alset EHome International Inc, formerly HF Enterprises Inc is a holding company. It is engaged in property development, digital transformation technology and biohealth activities.
Read at Benzinga