The Dow Jones index closed higher by more than 100 points on Tuesday. 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.
Insider Trades Unveiled
- The Momentum: Expensify, Inc. EXFY witnessed a 10% surge in ownership as SF Roofdeck GP LLC acquired a total of 196,076 shares at an average price of $1.76, costing around $345,094.
- Analytical Take: Piper Sandler analyst Brent Bracelin maintained Expensify with a Neutral and raised the price target from $2 to $3, signifying a positive outlook.
- Business Insight: Expensify Inc is a cloud-based expense management software platform simplifying money management for businesses of various sizes.
Perspective Therapeutics in Spotlight
- The Purchase: Perspective Therapeutics, Inc. CATX observed significant insider investment, with Director Robert F. Williamson III acquiring 135,879 shares at an average price of $0.58, costing around $78,474.
- Market Sentiment: B. Riley Securities initiated coverage on the stock with a Buy rating and a $1.20 price target, indicating optimism around its potential growth.
- Company Focus: Perspective Therapeutics Inc is pioneering various treatment applications for cancers throughout the body, marking significant strides in the medical technology and radiopharmaceutical industry.
Rave Restaurant Group Hits the Charts
- Insider Action: Rave Restaurant Group, Inc. RAVE saw an upswing in insider purchase as IMA Value LLP acquired 51,921 shares at an average price of $1.96, amounting to around $101,765.
- Performance Review: Rave Restaurant posted an increase in sales for the fourth quarter, indicating positive operational traction.
- Company Insight: Rave Restaurant Group Inc operates and franchises pizza buffet, delivery/carry-out, and express restaurants, underlining its robust presence in the competitive food industry.
Don’t forget to check out our premarket coverage here