2 Penny Stocks Insiders Are Buying
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.
Ault Global
The Trade: Ault Global Holdings, Inc. (NASDAQ: HUBS) Executive Chairman Milton Ault III acquired a total of 10,000 shares at an average price of $2.34. The insider spent $23,399 to buy the stock.
What’s Happening: Ault Global, last week, formed Ault Global Real Estate Equities, a Nevada corporation (AGREE), to invest in commercial real estate. The company’s shares have surged around 7% in the past five days.
What Ault Global Does: Ault Global is a diversified holding company owning subsidiaries engaged in commercial and defense solutions, commercial lending, and advanced textile technology.
Pingtan Marine Enterprise
The Trade: Pingtan Marine Enterprise Ltd. (NASDAQ: PME) CFO LiMing Yung bought a total of 8,000 shares at an average price of 91 cents per share. The insider spent $7,280 on buying those shares.
What’s Happening: The company’s stock fell around 1.5% in today’s session and has lost 58% year to date.
What Pingtan Marine Enterprise Does: Pingtan Marine Enterprise is a marine enterprises group primarily engaging in ocean fishing.
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