The Dow Jones index closed lower by more than 200 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.
Nauticus Robotics
- The Trade: Nauticus Robotics, Inc. (NASDAQ:KITT) Director William Flores acquired a total of 100,000 shares an average price of $0.23. To acquire these shares, it cost around $22,702.
- What's Happening: On April 9, Nauticus Robotics posted a wider fourth-quarter loss.
- What Nauticus Robotics Does: Nauticus Robotics Inc develops autonomous robots for the ocean industries. The company's business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors.
Blend Labs
- The Trade: Blend Labs, Inc. (NYSE:BLND) Head of Finance and Admin. Amir Jafari acquired a total of 6,265 shares at at an average price of $2.65. To acquire these shares, it cost around $16,588.
- What's Happening: On March 14, Blend Labs posted downbeat quarterly sales.
- 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. It supports and simplifies applications for mortgages, consumer loans, and deposit accounts.
ProtoKinetix
- The Trade: ProtoKinetix, Incorporated (OTC:PKTX) President and CEO Clarence Edward Smith acquired a total of 3,166,667 shares at an average price of $0.01. The insider spent around $35,000 to buy those shares.
- What's Happening: The company's stock lost around 25% over the past month.
- What ProtoKinetix Does: ProtoKinetix Inc is a research and development stage biotechnology company focused on scientific medical research of AFGPs (Anti-Freeze Glycoproteins).
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