The Dow Jones jumped by more than 800 points on Tuesday. 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
Clear Channel Outdoor
- The Trade: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) 10% owner Ares Partners Holdco LLC bought a total of 400,000 shares at an average price of $1.46. To acquire these shares, it cost around $584.4 thousand.
- What’s Happening: Clear Channel Outdoor Americas hired veteran media leader, Chris Pezzello, to oversee and direct all its Chicago market operations.
- What Clear Channel Outdoor Does: Clear Channel Outdoor Holdings Inc is one of the world's largest outdoor advertising companies. The company is engaged in providing advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays for its clients.
Gamida Cell
- The Trade: Gamida Cell Ltd. (NASDAQ:GMDA) President and CEO Abigail Jenkins acquired a total of 16,129 shares at an average price of $1.55. The insider spent around $25 thousand to buy those shares.
- What’s Happening: Gamida Cell announced long-term data from Omidubicel Phase 3 trial demonstrates overall survival and sustainable durable outcomes for patients with blood cancers at the Society of Hematologic Oncology Meeting.
- What Gamida Cell Does: Gamida Cell Ltd is a biopharmaceutical company involved in developing advanced cell therapies with the potential to cure cancer and rare, serious hematologic diseases.
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ReWalk Robotics
- The Trade: ReWalk Robotics Ltd. (NASDAQ:RWLK) 10% owner Lind Global MacRo Fund LP acquired a total of 9,896 shares at an average price of $0.90. To acquire these shares, it cost around $8.88 thousand.
- What’s Happening: ReWalk recently said it will start submitting first cases for medicare coverage through Medicare Administrative Contractors.
- What ReWalk Robotics Does: ReWalk Robotics Ltd is an Israel based medical device company. It is engaged in designing, developing and commercializing the Rewalk systems which are exoskeletons allowing wheelchair-bound individuals to stand and walk once again.
Flotek Industries
- The Trade: Flotek Industries, Inc. (NYSE:FTK) CEO and President John Gibson Jr acquired a total of 4,000 shares at an average price of $0.99. The insider spent $3.96 thousand to buy those shares.
- What’s Happening: The company’s stock gained around 7% over the past month.
- What Flotek Industries Does: Flotek Industries Inc delivers chemistry-based technology solutions for energy, industrial, and consumer applications.
