3 Penny Stocks Insiders Are Buying

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

U.S. Energy

The Trade: U.S. Energy Corp. USEG Director Randall D Keys acquired a total of 10000 shares at an average price of $4.07. The insider spent $40,699.00 to acquire those shares. The insider also disposed a total of 20227 shares.

What’s Happening: U.S. Energy recently announced it entered into definitive purchase and sale agreements to purchase certain oil and gas assets from Lubbock Energy Partners, Synergy Offshore, and certain entities controlled by Sage Road Capital.

What U.S. Energy Does: US Energy Corp is an independent energy company. It is focused on the acquisition and development of oil and natural gas-producing properties in the continental United States.

Celsion

The Trade: Celsion Corporation CLSN Director Frederick Fritz acquired a total of 20000 shares at an average price of $0.88. To acquire these shares, it cost $17,600.00.

What’s Happening: Celsion recently announced new management appointments.

What Celsion Does: Celsion Corp is active in the biotechnology sector. The company acts as a drug developer with product candidates like ThermoDox, a heat-activated liposomal encapsulation of doxorubicin.

Akerna

The Trade: Akerna Corp. KERN Director Matthew Ryan Kane bought a total of 128160 shares at an average price of $2.70. The insider spent $346,032.00 to buy those shares.

What’s Happening: Akerna recently reported a $20 million convertible debt financing from existing institutional investors.

What Akerna Does: Akerna is a United States-based company. The firm is the first compliance technology company in the cannabis space.