The Nasdaq Composite jumped over 300 points 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
Alzamend Neuro
- The Trade: Alzamend Neuro, Inc. (NASDAQ:ALZN) 10% owner Milton C. Ault III acquired a total of 16,100 shares at an average price of $0.89. To acquire these shares, it cost $14.31 thousand.
- What’s Happening: Alzamend Neuro announced pre-IND submission for AL001 as a treatment of bipolar disorder, major depressive disorder and post-traumatic stress disorder.
- What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical stage biopharmaceutical company. It is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's. Its mission is to develop and market safe and effective treatments.
Amergent Hospitality Group
- The Trade: Amergent Hospitality Group, Inc. (OTC:AMHG) CEO Michael D Pruitt acquired a total of 3,000 shares at an average price of $0.35. The insider spent around $1.04 thousand to buy those shares.
- What’s Happening: The company’s stock gained around 6% over the past six months.
- What Amergent Hospitality Group Does: Amergent Hospitality Group Inc owns, operates, and franchises restaurant brands. It generates the majority of its revenue from Restaurant sales, followed by Gaming and Franchise income.
Also check this: Groupon And 2 Other Stocks Insiders Are Buying
Don’t forget to check out our premarket coverage here .
Presidio Property Trust
- The Trade: Presidio Property Trust, Inc. (NASDAQ:SQFT) CEO and President Kendrick Jack Heilbron acquired a total of 10,000 shares at an average price of $0.16. To acquire these shares, it cost around $1.6 thousand.
- What’s Happening: Presidio Property Trust recently declared a cash dividend of $0.106 per share on its Series A Common Stock for the second quarter.
- What Presidio Property Trust Does: Presidio Property Trust Inc is a real estate company. The company operates as a self-administered real estate investment trust. Presidio Property Trust's portfolio has diverse product types consisting of office, retail, industrial, self-storage, and residential properties.
Venus Concept
- The Trade: Venus Concept Inc. (NASDAQ:VERO) Director S. Tyler Hollmig acquired a total of 40,000 shares at an average price of $0.64. The insider spent $25.72 thousand to buy those shares.
- What’s Happening: The company recently reported Q1 Total revenue of $26.4 million, up 17%, year-over-year.
- What Venus Concept Does: Venus Concept Inc is a medical technology company. It develops, commercializes and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related services.
