The IHS Markit composite PMI dipped to 50.8 in January 2022 from 57.0 a month ago, according to data released today. However, investors also focused on some insider trades in penny stocks.
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.
Superior Industries
- The Trade: Superior Industries International, Inc. (NYSE:SUP) 10% owner Thomas Lynch acquired a total of 40632 shares at an average price of $4.26. To acquire these shares, it cost 173.23 thousand.
- What’s Happening: The company’s shares dropped 7% over the previous month.
- What Superior Industries Does: Superior Industries International Inc is a manufacturer of aluminum wheels for passenger automobiles and light-duty vehicles.
TRACON Pharmaceuticals
- The Trade: TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) 10% owner Opaleye Management Inc acquired a total of 45000 shares at an average price of $2.25. The insider spent $101.03 thousand to buy those shares.
- What’s Happening: The company, last month, announced results from the Independent Data Monitoring Committee review of interim safety and efficacy data from the ongoing ENVASARC pivotal trial.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
Ideanomics
- The Trade: Ideanomics, Inc. (NASDAQ:IDEX) CEO Alfred Poor acquired a total of 14500 shares at an average price of $1.07. To acquire these shares, it cost $15.52 thousand.
- What’s Happening: Ideanomics recently made a strategic investment in InoBat Auto, a European-based premium battery technology and manufacturing company.
- What Ideanomics Does: Ideanomics Inc is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and Fintech products.
NovAccess Global
- The Trade: NovAccess Global Inc. (OTC:XSNX) Chief Financial Officer Neil J Laird acquired a total of 250000 shares at an average price of $0.20. The insider spent $50 thousand to buy those shares.
- What’s Happening: The company’s shares dropped around 20% over the past month.
- What NovAccess Global Does: Novaccess Global Inc is a biopharmaceutical company that is developing novel immunotherapies to treat brain tumor patients in the United States.
