Although gold prices traded almost flat this morning on Wednesday, there were a few 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.
Revelation Biosciences
- The Trade: Revelation Biosciences, Inc. (NASDAQ:REVB) Director George F Tidmarsh acquired a total of 50,000 shares at an average price of $2.56. To acquire these shares, it cost $128.04 thousand.
- What’s Happening: Revelation Biosciences, last month, raised $7.76 million in equity financing.
- What Revelation Biosciences Does: Revelation Biosciences Inc is a clinical-stage life sciences company focused on the development of immunologic-based therapies for the prevention and treatment of disease.
Independence Contract Drilling
- The Trade: Independence Contract Drilling, Inc. (NYSE:ICD) 10% owner William Monroe acquired a total of 100,000 shares at an average price of $3.17. The insider spent around $316.69 thousand to buy those shares.
- What’s Happening: Independence Contract Drilling recently said it expects to report Q4 2021 adjusted EBITDA ranging between about $1.2 million to $1.4 million.
- What Independence Contract Drilling Does: Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers.
Also check this: Executives Buy Around $64M Of 3 Stocks
BitNile Holdings
- The Trade: BitNile Holdings, Inc. (NYSE:NILE) Executive Chairman Milton C. Ault III acquired a total of 45,000 shares at an average price of $1.00. To acquire these shares, it cost $44.77 thousand.
- What’s Happening: BitNile Holdings said it sees FY2022 sales of $155.00 million.
- What BitNile Holdings Does: BitNile Holdings Inc is engaged in providing Bitcoin mining, data center operations, and decentralized finance (DeFi) initiatives.
RENN Fund
- The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 73,242 shares at an average price of $1.98. The insider spent $145.3 thousand to buy those shares.
- What’s Happening: RENN Fund recently reported results of rights offering.
- What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.
