Benzinga - by Lisa Levin, Benzinga Editor.
The Dow Jones closed higher by around 35 points on Monday. 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.
Local Bounti
- The Trade: Local Bounti Corporation (NYSE: LOCL) Chief Technology Officer Travis M Joyner acquired a total of 4,220 shares an average price of $2.37. To acquire these shares, it cost around $10,000. The company’s CFO also bought 2,000 shares.
- What’s Happening: Deutsche Bank recently downgraded Local Bounti from Buy to Hold and lowered the price target from $6 to $1.
- What Local Bounti Does: Local Bounti Corp is a controlled environment agriculture company. Its business model is based on building local facilities, operated by local teams, to deliver fresh and quality produce to local communities while maintaining a limited carbon footprint.
- The Trade: CalciMedica, Inc. (NASDAQ: CALC) Chief Business Officer Eric Roberts acquired a total of 9,060 shares at an average price of $2.74. To acquire these shares, it cost around $24,788. The company’s CEO also bought 5,000 shares.
- What’s Happening: CalciMedica posted a wider loss for the second quarter.
- What CalciMedica Does: CalciMedica Inc is a clinical-stage biopharmaceutical company focused on developing therapies for life-threatening inflammatory diseases with high unmet need.
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Gannett
- The Trade: Gannett Co., Inc. (NYSE: GCI) CEO Michael Reed acquired a total of 60,000 shares at an average price of $2.01. The insider spent around $120,600 to buy those shares.
- What’s Happening: Gannett reported worse-than-expected third-quarter revenue results and updated full year outlook.
- What Gannett Does: Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S.
- The Trade: BrightRock Gold Corp. (OTC: BRGC) Chairman/CEO Mahmood Shahsavar Jamshidi acquired a total of 50,000 shares at an average price of $0.47. The insider spent around $23,500 to buy those shares.
- What’s Happening: The company’s stock declined around 30% over the past month.
- What BrightRock Gold Does: BrightRock Gold Corp operates in gold and silver industry in Ghana.
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