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.

Conifer Holdings

• The Trade: Elys Game Technology, Corp. ELYS 10% owner Gold Street Capital Corp acquired a total of 28000 shares at an average price of $3.25. To acquire these shares, it cost $90,930.00.
• What’s Happening: Elys Game Technology, last month, reported record year-to-date betting handle of $626.9 million, up 77% year-over-year.
• What Elys Game Technology Does: Elys Game Technology Corp is a fastest growing and technologically advanced Sports Betting and i-Gaming full-service providers in the regulated business to business and business to consumer markets.

ADM Endeavors

• The Trade: ADM Endeavors, Inc. ADMQ CEO Marc Johnson acquired a total of 76000 shares at an average price of $0.08. The insider spent $5,982.10 to buy those shares.
• What’s Happening: The company’s stock dropped around 15% over the past month.
• What ADM Endeavors Does: Soligenix Inc is a late-stage biopharmaceutical company based in the United States. It focuses on developing and commercializing products to treat rare diseases where there is an unmet medical need.

PHX Minerals

• The Trade: PHX Minerals Inc. PHX Director Glen A Brown acquired a total of 10000 shares at an average price of $2.35. To acquire these shares, it cost $10,002.47.
• What’s Happening: PHX Minerals reported a Q4 loss of $0.14 per share.
• What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.

Silo Pharma

• The Trade: Silo Pharma, Inc. SILO CEO Eric Weisblum acquired a total of 22500 shares at an average price of $0.14. The insider spent $3,186.75 to buy those shares.
• What’s Happening: Silo Pharma engaged Donohoe Advisory to Assist with its efforts to obtain a listing on the NASDAQ Stock Market.
• What Silo Pharma Does: SILO Pharma Inc is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research.