$17M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

Mar 20, 2024

The Dow Jones index closed higher by over 300 points on Tuesday. 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.

Heritage Global

  • The Trade: Heritage Global Inc. (NASDAQ:HGBL) President, Industrial Assets Nicholas Kirk Dove acquired a total of 5,000 shares an average price of $2.88. To acquire these shares, it cost around $14,400.
  • What’s Happening: On March 14, the company posted upbeat quarterly earnings.
  • What Heritage Global Does: Heritage Global Inc values and monetizes industrial and financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets.

Bespoke Extracts

  • The Trade: Bespoke Extracts, Inc. (OTC:BSPK) CEO Michael Feinsod acquired a total of 5,000 shares at at an average price of $0.15. To acquire these shares, it cost around $750.
  • What’s Happening: The company’s stock lost around 14% over the past six months.
  • What Bespoke Extracts Does: Bespoke Extracts Inc is focused on selling its proprietary line of specially-formulated, premium quality, hemp-derived CBD products.

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CPS Technologies

  • The Trade: CPS Technologies Corporation (NASDAQ:CPSH) Director Daniel C Snow acquired a total of 2,500 shares at an average price of $1.80. The insider spent around $4,500 to buy those shares.
  • What’s Happening: On March 6, CPS Technologies reported a year-over-year decrease in fourth-quarter EPS results.
  • What CPS Technologies Does: CPS Technologies Corp provides material solutions to the transportation, automotive, energy, computing/Internet, telecommunications, aerospace, defense, and oil and gas end markets.

Rezolute

  • The Trade: Rezolute, Inc. (NASDAQ:RZLT) 10% owner Handok, Inc. acquired a total of 3,927,126 shares at an average price of $4.33. The insider spent around $17 million to buy those shares.
  • What’s Happening: On Feb. 13, Rezolute posted a narrower-than-expected quarterly loss.
  • What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.

 

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