The ISM services PMI rose to 58.3 in March from 56.5 in the previous month. 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.
Scott's Liquid Gold
- The Trade: Scott's Liquid Gold-Inc. (OTC:SLGD) 10% owner Mark E Goldstein acquired a total of 127,000 shares at an average price of $0.98. To acquire these shares, it cost $124.46 thousand.
- What’s Happening: The company recently posted a net loss of $7.3 million in Q4.
- What Scott's Liquid Gold Does: Scott's Liquid Gold Inc develop, market, and sell high-quality, high-value household and personal care products. Its business is divided into two operating segments: household products and personal care products.
Neuronetics
- The Trade: Neuronetics, Inc. (NASDAQ:STIM) 10% owner Cannell Capital Llc acquired a total of 265,305 shares at an average price of $3.00. The insider spent around $795.7 thousand to buy those shares.
- What’s Happening: Neuronetics, last month, reported Q4 FY21 sales of $15.02 million, down 4% Y/Y, exceeding previously issued guidance of $13.0 million - $14.0 million and the consensus of $14.43 million.
- What Neuronetics Does: Neuronetics Inc a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders.
Also check this: Executives Buy Over $17M Of 3 Stocks
Don’t forget to check out our premarket coverage here .
Movano
- The Trade: Movano Inc. (NASDAQ:MOVE) Director Emily Fairbairn acquired a total of 8,011 shares at an average price of $2.80. To acquire these shares, it cost around $22.46 thousand.
- What’s Happening: Movano S-3 showed registration for $100 million mixed securities shelf offering.
- What Movano Does: Movano, based in Pleasanton, California, develops a smart wearable and continuous glucose monitoring device.
Evolving Systems
- The Trade: Evolving Systems, Inc. (NASDAQ:EVOL) 10% owner Karen Singer acquired a total of 40,524 shares at an average price of $1.81. The insider spent $73.35 thousand to buy those shares.
- What’s Happening: The company’s shares have tumbled around 15% since the start of the year.
- What Evolving Systems Does: Evolving Systems Inc provides real-time digital engagement solutions and services. It offers services to the wireless carrier and consumer financial services markets.
