The Dow Jones index closed higher by more than 300 points on Thursday. 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.
Insider Trades in Focus
- The Trade: Amtech Systems, Inc. ASYS Chairman and CEO Robert C Daigle acquired a total of 3,500 shares at an average price of $4.21. To acquire these shares, it cost around $14,735.
- What’s Happening: Amtech Systems reported upbeat results for its first quarter.
- What Amtech Systems Does: Amtech Systems Inc is a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power chips, electronic assemblies, and light-emitting diodes (LEDs).
In the World of Hemp
- The Trade: Bespoke Extracts, Inc. BSPK CEO Michael Feinsod acquired a total of 96,500 shares at at an average price of $0.07. To acquire these shares, it cost around $5,710.
- What’s Happening: The company’s stock lost around 40% over the past six months.
- What Bespoke Extracts Does: Bespoke Extracts Inc is focused on selling its proprietary line of specially-formulated, premium quality, hemp-derived CBD products.
Under the Financial Lens
- The Trade: Blend Labs, Inc. BLND Head of Finance and Admin. Amir Jafari acquired a total of 6,051 shares at an average price of $2.61. The insider spent around $15,777 to buy those shares.
- What’s Happening: Wells Fargo, during December, upgraded the stock from Equal-Weight to Overweight and raised its price target from $1.5 to $3.5.
- What Blend Labs Does: Blend Labs Inc is a cloud-based platform software platform that powers the digital interface between financial services firms and consumers.
Don’t forget to check out our premarket coverage here