On Monday, the Dow Jones index closed higher by more than 100 points. Insiders purchasing or selling shares signal their confidence or concern around the company’s prospects. Consider their actions when contemplating penny stocks. It can factor into your investment or trading decision.
Here are some recent notable insider transactions for penny stocks.
Lumen Technologies
- The Trade: Director James Fowler of Lumen Technologies, Inc. (LUMN) acquired 30,000 shares at an average price of $1.50, costing around $45,000.
- What’s Happening: Lumen Technologies reported better-than-expected fourth-quarter financial results.
- What Lumen Technologies Does: With 450,000 route miles of fiber, Lumen Technologies is one of the United States’ largest telecommunications carriers serving global enterprises.
Nanophase Technologies
- The Trade: 10% owner Bradford T Whitmore acquired 3,824,864 shares of Nanophase Technologies Corporation (NANX) at an average price of $0.40, amounting to around $1,529,946.
- What’s Happening: Nanophase recently announced rights offering to stockholders.
- What Nanophase Technologies Does: Nanophase Technologies Corp produces engineered nanomaterial solutions and larger, sub-micron materials for various applications.
Sunshine Biopharma
- The Trade: CEO Steve N. Slilaty of Sunshine Biopharma, Inc. (SBFM) acquired 20,000 shares at an average price of $0.10, totaling around $2,000.
- What’s Happening: Sunshine Biopharma posted a narrower-than-expected quarterly loss.
- What Sunshine Biopharma Does: Sunshine Biopharma Inc is a pharmaceutical company focused on the research, development, and commercialization of oncology and antiviral drugs.