The Dow Jones index closed higher by more than 100 points on Monday. 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.
BranchOut Food
- The Trade: BranchOut Food Inc. (NASDAQ:BOF) Director Byron Riche Jones bought a total of 41,755 shares at an average price of $0.99. To acquire these shares, it cost around $41,337.
- What's Happening: On June 26, Branchout Food announced the pricing of its $1.4 million underwritten public offering of 1.75 million shares of common stock at $0.80 per share.
- What BranchOut Food Does: Branchout Food inc is engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and powders.
Innovative Food Holdings
- The Trade: Innovative Food Holdings, Inc. (OTC:IVFH) Director Denver Johnson Smith acquired a total of 350,000 shares at an average price of $1.20. To acquire these shares, it cost around $420,000.
- What's Happening: On May 14, the company said revenues in the first quarter fell 5.7% to $15.7 million.
- What Innovative Food Holdings Does: Innovative Food Holdings Inc through its subsidiaries is engaged in the distribution of perishables and specialty food products.
Crown Equity Holdings
- The Trade: Crown Equity Holdings Inc. (OTC:CRWE) Marketing/Merger/Acq. Officer Jamie Hadfield acquired a total of 5,000 shares at an average price of $0.25. The insider spent around $1,250 to buy those shares.
- What's Happening: On June 14, Crown Equity named Ahmad Moradi as the new Chairman of the Board and Chief Strategic & Science Officer.
- What Crown Equity Holdings Does: Crown Equity Holdings Inc offers services to companies seeking to become public entities in the United States.
Aclaris Therapeutics
- The Trade: Aclaris Therapeutics, Inc. (NASDAQ:ACRS) 10% owner Braden Michael Leonard acquired a total of 154,722 shares at an average price of $1.31. The insider spent around $201,808 to buy those shares.
- What's Happening: On July 16, Aclaris Therapeutics announced the sale of OLUMIANT royalties and milestones to OMERS Life Sciences for up to $31.5 million.
- What Aclaris Therapeutics Does: Aclaris Therapeutics Inc is a clinical-stage biopharmaceutical company that operates in the United States.
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