The Dow Jones index closed lower by around 0.2% on Friday. 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.
Harvard Bioscience
- The Trade: Harvard Bioscience, Inc. (NASDAQ:HBIO) CEO James W Green bought a total of 10,000 shares at an average price of $2.91. To acquire these shares, it cost around $29,100.
- What's Happening: On May 7, Harvard Bioscience posted weaker-than-expected quarterly sales.
- What Harvard Bioscience Does: Harvard Bioscience Inc is a developer, manufacturer, and seller of technologies, specialized products and services that enable fundamental research, discovery, and pre-clinical testing for drug development.
Sypris Solutions
- The Trade: Sypris Solutions, Inc. (NASDAQ:SYPR) Director Gary L Convis acquired a total of 20,000 shares at an average price of $1.92. To acquire these shares, it cost around $38,400.
- What's Happening: On June 3, Sypris named Michael D. Sedgwick as Vice President and General Manager of Sypris Electronics, LLC.
- What Sypris Solutions Does: Sypris Solutions Inc is a USA-based company engaged in providing truck components, oil and gas pipeline components, and aerospace and defense electronics.
Holley
- The Trade: Holley Inc. (NYSE:HLLY) Exec. Chairman of the Board Matthew E Rubel acquired a total of 14,493 shares at an average price of $3.39. The insider spent around $49,131 to buy those shares.
- What's Happening: On June 4, Telsey Advisory Group analyst Joseph Feldman maintained Holley with an Outperform and maintained a $6.5 price target.
- What Holley Does: Holley Inc is a designer, marketer, and manufacturer of high-performance automotive aftermarket products, featuring a portfolio of iconic brands serving the car and truck industry.