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.
AB International Group
The Trade: AB International Group Corp. (OTC: ABQQ) CEO Chiyuan Deng acquired a total of 3,300,000 shares at an average price of $0.08. The insider spent $264,000.00 to buy those shares.
What’s Happening: The company’s stock dipped 17% over the previous month.
What AB International Does: AB International Group Corp is engaged in providing mobile application services.
Barnwell Industries
The Trade: Barnwell Industries, Inc. (OTC: BRN) CFO Russell M Gifford purcahsed a total of 13,800 shares at an average price of $2.19. The insider paid $30,222.00 for the transactions.
What’s Happening: The company recently sold Barnwell Canada’s interests in certain natural gas and oil properties in the Spirit River area of Alberta, Canada.
What Barnwell Industries Does: The company is engaged in oil and natural gas exploration, development, production and sales in Canada.
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