The Dow Jones dropped more than 600 points 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.3
Avaya Holdings
- The Trade: Avaya Holdings Corp. (NYSE:AVYA) 10% owner Theodore Walker Cheng-de King bought a total of 4,232,600 shares at an average price of $1.71. To acquire these shares, it cost around $7.25 million.
- What’s Happening: Avaya Holdings recently issued Q3 EPS and sales guidance below analyst estimates.
- What Avaya Holdings Does: Avaya Holdings Corp provides digital communications products, solutions, and services for businesses.
Stryve Foods
- The Trade: Stryve Foods, Inc. (NASDAQ:SNAX) CEO Christopher J Boever acquired a total of 150,000 shares at an average price of $0.72. The insider spent around $108.5 thousand to buy those shares.
- What’s Happening: Stryve Foods recently reported worse-than-expected Q2 EPS and sales results and issued FY22 sales guidance below estimates.
- What Stryve Foods Does: Stryve Foods Inc is focused on manufacturing and marketing highly differentiated healthy snacks that disrupt traditional snacking categories.
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InspireMD
- The Trade: InspireMD, Inc. (NASDAQ:NSPR) Director Gary S Roubin acquired a total of 35,500 shares at an average price of $1.91. To acquire these shares, it cost around $67.77 thousand.
- What’s Happening: The company recently posted upbeat quarterly results.
- What InspireMD Does: InspireMD Inc is the United States based medical device company. It is focused on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease.
Nautilus Biotechnology
- The Trade: Nautilus Biotechnology, Inc. (NASDAQ:NAUT) CFO and Treasurer Anna Mowry acquired a total of 17,500 shares at an average price of $2.30. The insider spent $40.22 thousand to buy those shares.
- What’s Happening: Nautilus Biotechnology recently posted a Q2 loss of $0.12 per share.
- What Nautilus Biotechnology Does: Nautilus Biotechnology Inc is a development stage life sciences company creating a platform technology for quantifying and unlocking the complexity of the human proteome.
