U.S. stocks closed sharply lower, with the Nasdaq Composite dipping around 450 on Thursday. 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
Nerdy
- The Trade: Nerdy, Inc. (NASDAQ:NRDY) CEO Charles Cohn acquired a total of 130,000 shares at an average price of $2.99. To acquire these shares, it cost $388.7 thousand.
- What’s Happening: The company’s shares jumped 62% over the past month.
- What Nerdy Does: Nerdy Inc is a curated direct-to-consumer platform for live online learning.
Sachem Capital
- The Trade: Sachem Capital Corp. (NYSE:SACH) 10% owner William C Haydon acquired a total of 2,000 shares at an average price of $4.34. The insider spent around $8.68 thousand to buy those shares.
- What’s Happening: Sachem Capital, last month, posted Q1 EPS of $0.10.
- What Sachem Capital Does: Sachem Capital Corp is a United States-based real estate investment trust.
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Hims & Hers Health
- The Trade: Hims & Hers Health, Inc. (NYSE:HIMS) Director Jules Maltz acquired a total of 75,000 shares at an average price of $3.66. To acquire these shares, it cost around $274.49 thousand.
- What’s Happening: Piper Sandler, last month, maintained Hims & Hers Health with an Overweight and lowered the price target from $8 to $6.
- What Hims & Hers Health Does: Hims & Hers Health Inc is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling them to access high-quality medical care for numerous conditions related to mental health, sexual health, dermatology, primary care, and more.
