The Dow Jones index closed higher by around 400 points on Friday. 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.
OLB Group: A Bold Move
- The Trade: The OLB Group, Inc. OLB Chairman and CEO Ronny Yakov acquired a total of 784,212 shares an average price of $0.77. To acquire these shares, it cost around $600,001. The company’s Vice President Patrick Smith also acquired a total of 392106 shares.
- What’s Happening: The company, during November, posted a wider-than-expected quarterly loss.
- What OLB Group Does: The OLB Group Inc is a diversified fintech e-commerce merchant services provider and Bitcoin crypto mining enterprise.
OPKO Health: Diving Deeper
- The Trade: OPKO Health, Inc. OPK 10% owner Frost Gamma Investments Trust acquired a total of 500,000 shares at at an average price of $0.98. To acquire these shares, it cost around $488,650.
- 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.
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Tecogen: Sizzling Actions
- The Trade: Tecogen Inc. TGEN Director John Hatsopoulos acquired a total of 10,000 shares at an average price of $0.73. The insider spent around $7,346 to buy those shares.
- What’s Happening: Tecogen, during November, announced an order for a 400-ton Tecochill unit from a large educational institution in Connecticut, facilitated by Clover Corp., a long-standing Manufacturers’ Representative for Tecogen.
- What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products. It operates in three business segments, namely Products, Services and Energy Production.
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