3 Penny Stocks Insiders Are Buying

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.

Simply

The Trade: Simply, Inc. SIMP 10% owner Sol Verano Blocker Llc acquired a total of 321420 shares at an average price of $3.11. To acquire these shares, it cost $1,000,000.65.

What’s Happening: Simply, last month, announced the grand opening of its new Simply Mac retail store in Tuscaloosa, Alabama.

What Simply Does: Simply through its subsidiary, operates a chain of retail electronics stores and is an authorized reseller of Apple products and other high-profile consumer electronic brands.

Sharing Services Global

The Trade: Sharing Services Global Corporation SHRG 10% owner Document Security Systems Inc acquired a total of 53750 shares shares at an average price of $0.10. The insider spent $5,375.00 to buy those shares.

What’s Happening: The company’s shares have dropped over 10% since the start of the year.

What Sharing Services Global Does: Sharing Services Global is a diversified holding company specializing in the direct selling industry.

NGL Energy Partners

The Trade: NGL Energy Partners LP NGL Executive Vice President John Ciolek acquired a total of 10000 shares at an average price of $1.78. To acquire these shares, it cost $17,800.00.

What’s Happening: NGL Energy Partners, last month, appointed Linda Bridges as CFO.

What NGL Energy Partners Does: NGL Energy Partners is a US-based firm that owns and operates a vertically integrated energy business.