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.
Allied Esports Entertainment
The Trade: Allied Esports Entertainment Inc. (NASDAQ: AESE) 10% owner Knighted Pastures Llc, Roy Choi acquired a total of 112730 shares at an average price of $1.84. The insider spent $207,007.23 to buy those shares.
What’s Happening: The company’s stock has jumped over 25% since the start of the year.
What Allied Esports Entertainment Does: Allied Esports Entertainment Inc., a premier public esports and entertainment company, engages in the Allied Esports and World Poker Tour (WPT) businesses worldwide.
The Trade: Eyenovia, Inc. (NASDAQ: EYEN) CEO Tsontcho Ianchulev acquired a total of 30000 shares shares at an average price of $4.04. The insider spent $121,206.00 to buy those shares.
What’s Happening: Eyenovia’s shares dropped 23% over the previous month.
What Eyenovia Does: Eyenovia engages in developing therapeutics based on its proprietary microdose array print (MAP) platform technology.
The Trade: RocketFuel Blockchain, Inc. (OTC: RKFL) CFO Bennett J Yankowitz acquired a total of 6000 shares at an average price of $0.52. To acquire these shares, it cost $3,133.20.
What’s Happening: RocketFuel Blockchain recently reported a $5.0 million registered direct offering.
What RocketFuel Blockchain Does: RocketFuel Blockchain focuses on developing payment and check-out systems for purchases on e-commerce sites using cryptocurrencies and direct bank transfers.
ARC Document Solutions
The Trade: ARC Document Solutions, Inc. (NYSE: ARC) Chairman, President and CEO Kumarakulasingam Suriyakumar acquired a total of 59667 shares shares at an average price of $3.15. The insider spent 187,681.33 to buy those shares.
What’s Happening: The company is expected to report Q3 results after the closing bell today.
What ARC Document Solutions Does: ARC Document Solutions, Inc., a reprographics company, provides document solutions.
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