3 Penny Stocks Insiders Are Buying

Although US annual inflation rate is expected to accelerate to 7.3% in January, the highest level since February 1982, there were a few notable insider trades.

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.

BitNile Holdings

• The Trade: BitNile Holdings, Inc. NILE Executive Chairman Milton C. Ault III acquired a total of 37,500 shares at an average price of $0.97. To acquire these shares, it cost $36.49 thousand.
• What’s Happening: BitNile recently said it sees FY2022 sales of $155.00 million.
• What BitNile Does: BitNile Holdings Inc is engaged in providing Bitcoin mining, data center operations, and decentralized finance (DeFi) initiatives.

Emmaus Life Sciences

• The Trade: Emmaus Life Sciences, Inc. EMMA Chairman and CEO Yutaka Niihara acquired a total of 8,500 shares at an average price of $1.48. The insider spent around $12.56 thousand to buy those shares.
• What’s Happening: The company’s stock dropped around 5% over the previous month.
• What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.

Also check this: Insiders Buy Over $43M Of 4 Stocks

Iteris

• The Trade: Iteris, Inc. ITI President and CEO Joseph Bergera acquired a total of 10,000 shares at an average price of $3.38. To acquire these shares, it cost $33.8 thousand.
• What’s Happening: Iteris recently reported worse-than-expected Q3 sales results.
• What Iteris Does: Iteris Inc is engaged in the technology sector as a provider of mobility infrastructure management. The company operates through two segments: Roadway Sensors and Transportation Systems.