The Dow Jones index closed higher by more than 200 points on Monday, and insiders have been displaying a remarkable interest in penny stocks. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects, something that investors and traders keen on penny stocks would do well to take into account.
Below is an overview of some recent significant insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.
OPKO Health
- The Trade: OPKO Health, Inc. OPK Director Richard Krasno acquired a total of 30,000 shares at an average price of $0.99, costing around $29,838.
- What’s Happening: OPKO Health recently priced a private offering of $200 million convertible senior notes due 2029.
- What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.
Butler National
- The Trade: Butler National Corporation BUKS 10% owner Joseph Patrick Daly acquired a total of 900 shares at at an average price of $0.73, amounting to around $657.
- What’s Happening: On Nov. 1, Butler National’s subsidiary, Avcon Industries, Inc., obtained FAA approval of the Avcon nose extension and the Avcon extra-large “Whale Pod” modifications in the King Air Model B300 Airplanes.
- What Butler National Does: Butler National Corp is engaged in designing, manufacturing and selling, installing, repairing, modifying, overhauling, servicing and distributing a broad portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.
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RENN Fund
- The Trade: RENN Fund, Inc. RCG President and CEO Murray Stahl acquired a total of 56 shares at an average price of $1.62, spending around $90.72.
- What’s Happening: RENN Fund fell around 10% over the past six months.
- 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.
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