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.
Unique Fabricating
The Trade: Unique Fabricating, Inc. (NYSE: UFAB) Director Patrick W Cavanagh acquired a total of 13333 shares at an average price of $2.25. To acquire these shares, it cost $29,999.25.
What’s Happening: Unique Fabricating recently said it raised $4.4 million and amended forbearance agreement.
What Unique Fabricating Does: Unique Fabricating is engaged in the engineering and manufacture of multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness, acoustical management, water and air sealing, decorative and other functional applications.
United Insurance
The Trade: United Insurance Holdings Corp. (NASDAQ: UIHC) Director Alec L. Poitevint II acquired a total of 52312 shares shares at an average price of $3.22. The insider spent $168,411.30 to buy those shares.
What’s Happening: The company’s shares jumped around 25% over the previous five days.
What United Insurance Does: United Insurance Holdings is a holding company primarily engaged in the residential and commercial property and casualty insurance business in the United States.
Baudax Bio
The Trade: Baudax Bio, Inc. (NASDAQ: BXRX) President and CEO Geraldine Henwood acquired a total of 8200 shares at an average price of $0.59. To acquire these shares, it cost $4,797.82.
What’s Happening: The company reported downbeat quarterly results last month.
What Baudax Bio Does: Baudax Bio is a Pharmaceutical company. The company develops and commercialize products for hospital and related acute care settings.
Volt Information
The Trade: Volt Information Sciences, Inc. (NYSE: VOLT) Director Bruce Goodman acquired a total of 5000 shares at an average price of $3.35. To acquire these shares, it cost $16,760.00.
What’s Happening: The company recently reported better-than-expected quarterly earnings.
What Volt Information Does: Volt Information Sciences offers recruitment services. The company provides staffing services, outsourcing solutions, and information technology infrastructure services.