4 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.

Allied Esports Entertainment

The Trade: Allied Esports Entertainment Inc. AESE 10% owner Knighted Pastures Llc, Roy Choi acquired a total of 112730 shares at an average price of $1.84. The insider spent $207,007.23 to buy those shares.

What’s Happening: The company’s stock has jumped over 25% since the start of the year.

What Allied Esports Entertainment Does: Allied Esports Entertainment Inc., a premier public esports and entertainment company, engages in the Allied Esports and World Poker Tour (WPT) businesses worldwide.

Eyenovia

The Trade: Eyenovia, Inc. EYEN CEO Tsontcho Ianchulev acquired a total of 30000 shares shares at an average price of $4.04. The insider spent $121,206.00 to buy those shares.

What’s Happening: Eyenovia’s shares dropped 23% over the previous month.

What Eyenovia Does: Eyenovia engages in developing therapeutics based on its proprietary microdose array print (MAP) platform technology.

RocketFuel Blockchain

The Trade: RocketFuel Blockchain, Inc. RKFL CFO Bennett J Yankowitz acquired a total of 6000 shares at an average price of $0.52. To acquire these shares, it cost $3,133.20.

What’s Happening: RocketFuel Blockchain recently reported a $5.0 million registered direct offering.

What RocketFuel Blockchain Does: RocketFuel Blockchain focuses on developing payment and check-out systems for purchases on e-commerce sites using cryptocurrencies and direct bank transfers.

ARC Document Solutions

The Trade: ARC Document Solutions, Inc. ARC Chairman, President and CEO Kumarakulasingam Suriyakumar acquired a total of 59667 shares shares at an average price of $3.15. The insider spent 187,681.33 to buy those shares.

What’s Happening: The company is expected to report Q3 results after the closing bell today.

What ARC Document Solutions Does: ARC Document Solutions, Inc., a reprographics company, provides document solutions.