The US economy grew 6.9% on quarter during the last three months of previous year, up from 2.3% expansion in the prior quarter and also above market estimates of 5.5%. Investors, meanwhile, focused on some notable insider trades.
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.
OpGen
- The Trade: OpGen, Inc. (NASDAQ:OPGN) Chief Operating Officer Johannes Bacher acquired a total of 25,000 shares at an average price of $0.85. To acquire these shares, it cost $21.25 thousand.
- What’s Happening: OpGen recently said it sees preliminary FY21 sales of $4.3 million.
- What OpGen Does: OpGen Inc is a precision medicine company harnessing the power of molecular diagnostics and informatics to help combat infectious disease.
Red Cat Holdings
- The Trade: Red Cat Holdings, Inc. (NASDAQ:RCAT) Director Joseph David Freedman acquired a total of 1,500 shares at an average price of $1.70. The insider spent $2.55 thousand to buy those shares.
- What’s Happening: The company’s stock tumbled around 50% over the past six months.
- What Red Cat Does: Red Cat Holdings Inc is a provider of secure blockchain-based distributed storage, analytics, and SaaS for the drone industry.
Regulus Therapeutics
- The Trade: Regulus Therapeutics Inc. (NASDAQ:RGLS) President and CEO Joseph Hagan acquired a total of 100,000 shares at an average price of $0.22. To acquire these shares, it cost $21.52 thousand.
- What’s Happening: Regulus Therapeutics recently completed a pre-investigational new drug (Pre-IND) meeting with the FDA to obtain input on the Company's RGLS8429 for Autosomal Dominant Polycystic Kidney Disease (ADPKD).
- What Regulus Therapeutics Does: Regulus Therapeutics Inc is a biotechnology company focused on the development of microRNA therapies. MicroRNA therapies target diseases such as cancer, metabolic diseases, fibrosis, and inflammatory diseases.
Check out these stocks insiders are selling
Evolving Systems
- The Trade: Evolving Systems, Inc. (NASDAQ:EVOL) 10% owner Karen Singer acquired a total of 170,218 shares at an average price of $1.85. The insider spent $314.12 thousand to buy those shares.
- What’s Happening: The company’s shares tumbled around 17% over the previous montj.
- What Evolving Systems Does: Evolving Systems Inc provides real-time digital engagement solutions and services. It offers services to the wireless carrier and consumer financial services markets.
Crexendo
- The Trade: Crexendo, Inc. (NASDAQ:CXDO) CEO Steven G Mihaylo acquired a total of 3,000 shares at an average price of $3.93. The insider spent $11.8 thousand to buy those shares.
- What’s Happening: The company was recently awarded 2021 TMC Labs Innovation Award for its VIP Platform..
- What Crexendo Does: Crexendo Inc is a provider of cloud communications, UCaaS, call center, collaboration services, and other cloud business services.
