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 outBenzinga's insider transactionsplatform.
United Insurance
The Trade: United Insurance Holdings Corp Chief Underwriting Officer Brooke Shiraziacquired a total of 69554 sharesat an average price of $3.17. To acquire these shares, it cost $220,486.18.
What’s Happening: The company’s shares dropped 17% over the previous month.
What United Insurance Does: United Insurance Holdings is a holding company primarily engaged in the residential and commercial property and casualty insurance business in the United States.
Coffee Holding
The Trade: Coffee Holding Co CEO and President Andrew Gordonacquired a total of 5000 sharesshares at an average price of $4.30. The insider spent $21,500.00 to buy those shares.
What’s Happening: Coffee Holding recently reported a third-quarter FY21 sales decline of 21.3% year-on-year, to $13.6 million.
What Coffee Holding Does: Coffee Holding is engaged in the business of wholesale coffee roasting and dealing. Its products include wholesale green coffee, private label coffee, and branded coffee.
Sharing Services Global
The Trade: Sharing Services Global Corp. owner Document Security Systems Incacquired a total of 25600 sharesat an average price of $0.09. To acquire these shares, it cost $2,329.00.
What’s Happening: The company’s stock has tumbled over 63% since the start of the year.
What Sharing Services Global Does: Sharing Services Global is a diversified holding company specializing in the direct selling industry.