The Dow Jones index closed lower by over 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.
ONE Group Hospitality
- The Trade: The ONE Group Hospitality, Inc. (NASDAQ:STKS) Director Jonathan Segal bought a total of 5,000 shares at an average price of $3.53. To acquire these shares, it cost around $17,650.
- What's Happening: On Aug. 6, The One Group Hospitality posted upbeat quarterly earnings.
- What ONE Group Hospitality Does: The One Group Hospitality Inc is a restaurant company that develops, owns and operates, manages and licenses upscale and polished casual, high-energy restaurants and lounges and provides turn-key food and beverage (F&B) services for hospitality venues, including hotels, casinos, and other high-end locations internationally.
Solo Brands
- The Trade: Solo Brands, Inc. (NYSE:DTC) President and CEO Christopher T Metz acquired a total of 250,000 shares at at an average price of $1.30. To acquire these shares, it cost around $324,804.
- What's Happening: On Aug. 7, Solo Brands reported worse-than-expected second-quarter adjusted EPS results and cut its FY24 revenue guidance below estimates.
- What Solo Brands Does: Solo Brands Inc is a Direct-To-Consumer (DTC) platform. It operates four premium outdoor lifestyle brands Solo Stove, Oru, ISLE, TerraFlame, IcyBreeze, and Chubbies apparel.
Xeris Biopharma
- The Trade: Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Director John P. Schmid acquired a total of 4,285 shares at an average price of $2.37. The insider spent around $10,134 to buy those shares.
- What's Happening: On Aug. 8, Xeris Biopharma reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates.
- What Xeris Biopharma Does: Xeris Biopharma Holdings Inc is a biopharmaceutical company developing and commercializing unique therapies for patient populations in endocrinology, neurology, and gastroenterology.
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