The Nasdaq Composite jumped around 250 points on Friday. Investors, meanwhile, focused on some notable insider trading.
When insiders buy or sell stock, it shows their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider this as a factor in their overall investment or trading decision.
Below is a look at some notable penny stock insider trades. For more information, see Benzinga insider trading platform.3
PHX minerals
- The trade: PHX Minerals Inc. PHX 10% owner Jonathan Brolin bought a total of 29,160 shares at an average price of $3.17. Acquisition of these shares cost about 92.4 thousand US dollars.
- What’s happening: The company released positive quarterly results last month.
- What PHX Minerals does: PHX Minerals, formerly Panhandle Oil & Gas, is an oil and natural gas company that has pursued a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
carrier
- The trade: Traeger, Inc. A COOK CEO Jeremy Andres a total of 68,644 shares were acquired at an average price of $2.96. The insider spent around $202.93k to buy those shares.
- What’s happening: Traeger last month reported worse-than-expected Q2 EPS and revenue results and cut fiscal 22 revenue guidance below estimates.
- What Traeger does: Traeger Inc designs, sources, sells and supports wood pellet powered grills for sale to retailers, distributors and direct to consumers.
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MarketWise
- The trade: MarketWise, Inc. MKTW 10% owner Frank Porter Stansberry acquired a total of 331,279 shares at an average price of $2.51. Acquisition of these shares cost about 832.19 thousand US dollars.
- What’s happening: The company posted weak quarterly sales last month.
- What MarketWise is doing: Marketwise Inc is a…
