U.S. stocks opened sharply higher on Friday. Investors, meanwhile, focused on some notable insider trades.
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.3
SeaChange International
- The Trade: SeaChange International, Inc. (NYSE:SEAC) 10% owner Karen Singer acquired a total of 290,383 shares at an average price of $0.54. To acquire these shares, it cost around $157.94 thousand.
- What’s Happening: SeaChange International and Trillerverz, the AI-powered open garden platform for creators, recently mutually agreed to terminate their proposed merger signed on December 22, 2021.
- What SeaChange International Does: SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies.
TRACON Pharmaceuticals
- The Trade: TRACON Pharmaceuticals, Inc (NASDAQ:TCON) 10% owner Opaleye Management Inc acquired a total of 841,989 shares at an average price of $1.31. The insider spent around $1.11 million to buy those shares.
- What’s Happening: TRACON Pharmaceuticals, last month, posted a Q1 loss of $0.48 per share.
- What TRACON Pharmaceuticals Does: TRACON Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its cost efficient, contract research organization (CRO) independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the United States.
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Quest Resource Holding
- The Trade: Quest Resource Holding Corporation (NASDAQ:QRHC) 10% owner Hampstead Park Environmental Services Investment Fund Llc acquired a total of 5,982 shares at an average price of $3.91. To acquire these shares, it cost around $23.36 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What Quest Resource Holding Does: Quest Resource Holding Corp is a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses.
MIND Technology
- The Trade: MIND Technology, Inc. (NASDAQ:MIND) Director Peter H Blum acquired a total of 32,000 shares at an average price of $1.69. The insider spent $54.04 thousand to buy those shares.
- What’s Happening: MIND Technology recently posted a Q1 loss of $0.27 per share.
- What MIND Technology Does: MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries.
