Insiders Buying These 4 Penny Stocks

Although crude futures surged to their highest level in more than seven years, 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.

Emmaus Life Sciences

• The Trade: Emmaus Life Sciences, Inc. EMMA Chairman and CEO Yutaka Niihara acquired a total of 30,500 shares at an average price of $1.46. To acquire these shares, it cost $44.38 thousand.
• What’s Happening: The company’s stock dropped around 7% over the past six months.
• 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.

Lannett Company

• The Trade: Lannett Company, Inc. LCI CEO Timothy C Crew acquired a total of 50,000 shares at an average price of $0.93. The insider spent around $46.5 thousand to buy those shares.
• What’s Happening: Lannett recently reported worse-than-expected Q2 EPS and sales results.
• What Lannett Does: Lannett Co Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products.

Also check this: Executives Buy Around $93M Of 3 Stocks

Beasley Broadcast Group

• The Trade: Beasley Broadcast Group, Inc. BBGI Chief Operating Officer Brian Beasley acquired a total of 10,000 shares at an average price of $1.89. To acquire these shares, it cost $18.9 thousand.
• What’s Happening: Beasley Broadcast Group recently posted Q4 EPS of $0.36 on sales of $70.70 million.
• What Beasley Broadcast Group Does: Beasley Broadcast Group Inc is a radio broadcasting company, engaged in operating radio stations throughout the United States.

Innovative Designs

• The Trade: Innovative Designs, Inc. IVDN CEO Joseph Riccelli acquired a total of 300,000 shares at an average price of $0.25. The insider spent $75 thousand to buy those shares.
• What’s Happening: The company’s shares have dropped around 8% since the start of the year
• What Innovative Designs Does: Innovative Designs Inc markets cold-weather recreational and industrial clothing products, as well as house wrap, which is made from INSULTEX, a low density foamed polyethylene with buoyancy, scent block and thermal resistant properties.