Benzinga - by Lisa Levin, Benzinga Editor.
The Dow Jones closed higher by over 50 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.
Marchex
- The Trade: Marchex, Inc. (NASDAQ: MCHX) 10% owner Jonathan Brolin acquired a total of 26,975 shares an average price of $1.40. To acquire these shares, it cost around $37,714.
- What’s Happening: Marchex posted a narrower-than-expected quarterly loss.
- What Marchex Does: Marchex Inc is a conversational analytics and solutions company that helps businesses connect, drive, measure, convert callers into customers, and connect the voice of the customer to their business.
- The Trade: Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) CEO Lonnel Coats acquired a total of 10,000 shares at an average price of $1.01. To acquire these shares, it cost around $10,100.
- What’s Happening: Lexicon Pharmaceuticals posted in-line loss for its third quarter.
- What Lexicon Pharmaceuticals Does: Lexicon Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in the discovery, development, and commercialization of pharmaceutical products for the treatment of human diseases.
Blend Labs
- The Trade: Blend Labs, Inc. (NYSE: BLND) Head of Finance and Admin. Amir Jafari acquired a total of 12,610 shares at an average price of $1.22. The insider spent around $15,350 to buy those shares.
- What’s Happening: Blend Labs posted upbeat third-quarter sales.
- What Blend Labs Does: Blend Labs Inc is a cloud-based platform software platform that powers the digital interface between financial services firms and consumers.
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ESS Tech - The Trade: ESS Tech, Inc. (NYSE: GWH) Director Harry Quarls acquired a total of 46,814 shares at an average price of $1.10. The insider spent around $51,631 to buy those shares. The company’s Director Teamey Kyle also bought 1,000 shares.
- What’s Happening: ESS Tech posted a narrower-than-expected loss for the third quarter.
- What ESS Tech Does: ESS Tech Inc is a long-duration energy storage company specializing in iron flow battery technology.
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