Insiders Buying These 4 Penny Stocks

US stock futures traded lower this morning after the Dow Jones gained more than 650 points on Wednesday. Investors, meanwhile, focused on some 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.

Velodyne Lidar

• The Trade: Velodyne Lidar, Inc. VLDR Director Virginia Boulet acquired a total of 50,000 shares at an average price of $2.17. To acquire these shares, it cost $11.13 thousand.
• What’s Happening: Velodyne Lidar said Russelsheim has selected the company’s intelligent infrastructure solution for monitoring municipal truck traffic.
• What Velodyne Lidar Does: Velodyne Lidar Inc provides smart, powerful lidar solutions. It is known for its broad portfolio of lidar technologies. Velodyne's revolutionary sensor and software solutions provide flexibility, quality, and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities, and security.

Skillz

• The Trade: Skillz Inc. SKLZ Director Leon Jerome Bruckheimer acquired a total of 101,215 shares at an average price of $2.46. The insider spent around $248.99 thousand to buy those shares.
• What’s Happening: Skillz recently reported worse-than-expected Q4 sales results and issued FY22 sales guidance below estimates.
• What Skillz Does: Skillz Inc is a mobile game development company. Its platform helps developers build multi-million dollar franchises by enabling social competition in their games.

Also check this: Insiders Buy Around $2.8M Of 3 Stocks

a.k.a. Brands Holding

• The Trade: a.k.a. Brands Holding Corp. AKA Director Myles McCormick acquired a total of 30,000 shares at an average price of $4.12. To acquire these shares, it cost around $123.67 thousand.
• What’s Happening: A.K.A. Brands recently issued Q1 sales guidance below analyst estimates.
• What a.k.a. Brands Holding Does: a.k.a. Brands Holding Corp is a portfolio of online fashion brands built for the next generation of consumers.

Salarius Pharmaceuticals

• The Trade: Salarius Pharmaceuticals, Inc. SLRX CEO David Arthur acquired a total of 139,488 shares at an average price of $0.39. The insider spent $54.54 thousand to buy those shares.
• What’s Happening: The company is scheduled to report quarterly earnings after the closing bell today.
• What Salarius Pharmaceuticals Does: Salarius Pharmaceuticals Inc is a clinical-stage biotechnology company focused on developing potential new cancer medicines for patients in need of new treatment options.