3 Penny Stocks Insiders Are Buying

By Lisa Levin

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.

Dakota Territory Resource

  • The Trade: Dakota Territory Resource Corp. (OTC:DTRC) President and CEO Jonathan Awde acquired a total of 3500 shares at an average price of $4.46. To acquire these shares, it cost $15,610.00.
  • What’s Happening: The company’s shares jumped around 180% over the past year.
  • What Dakota Territory Resource Does: Dakota Territory Resource Corp is an exploration stage company engaged in the acquisition, development, and exploration of mineral properties.

Merrimack Pharmaceuticals

  • The Trade: Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Director Gary L Crocker acquired a total of 10000 shares at an average price of $4.18. The insider spent $41,798.50 to buy those shares.
  • What’s Happening: Merrimack Pharmaceuticals, in November, reported a Q3 loss of $0.04 per share.
  • What Merrimack Pharmaceuticals Does: Merrimack Pharmaceuticals Inc is a biotechnology company that discovers, develops, and commercializes innovative medicines that consist of novel therapeutics paired with diagnostics to treat cancer.

Ideanomics

  • The Trade: Ideanomics, Inc. (NASDAQ:IDEX) CEO Alfred Poor acquired a total of 62975 shares at an average price of $1.19. To acquire these shares, it cost $74,999.50.
  • What’s Happening: Ideanomics recently made a strategic investment in InoBat Auto, a European-based premium battery technology and manufacturing company.
  • What Ideanomics Does: Ideanomics Inc is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and Fintech products.

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