5 Penny Stocks Insiders Are Buying

The Central Bank of Russia maintained its benchmark interest rate at 20% during its March meeting. 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.

TradeUP Acquisition

• The Trade: TradeUP Acquisition Corp. UPTD Co-Chief Executive Officer Jianwei Li acquired a total of 141,970 shares at an average price of $2.22. To acquire these shares, it cost $314.7 thousand.
• What’s Happening: The company’s stock has declined around 2% since the start of the year.
• What TradeUP Acquisition Does: TradeUP Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

Laird Superfood

• The Trade: Laird Superfood, Inc. LSF CEO Jason D Vieth acquired a total of 15,000 shares at an average price of $3.00. The insider spent around $45 thousand to buy those shares.
• What’s Happening: Laird Superfood recently posted a Q4 loss of $0.76 per share.
• What Laird Superfood Does: Laird Superfood Inc is engaged in the business of manufacturing and marketing highly differentiated plant-based and functional foods.

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

Sunworks

• The Trade: Sunworks, Inc. SUNW CEO Gaylon Morris acquired a total of 10,000 shares at an average price of $3.11. To acquire these shares, it cost around $31.1 thousand.
• What’s Happening: Sunworks recently reported worse-than-expected Q4 adjusted EPS results.
• What Sunworks Partners Does: Sunworks Inc provides photovoltaic based power systems for the agricultural, commercial, industrial (ACI), public works, and residential markets in California, Nevada, Massachusetts, Oregon, New Jersey and Hawaii.

McEwen Mining

• The Trade: McEwen Mining Inc. MUX Chief Operating Officer G. Peter Mah acquired a total of 23,575 shares at an average price of $1.06. The insider spent $24.99 thousand to buy those shares.
• What’s Happening: McEwen Mining recently issued FY22 production guidance.
• What McEwen Mining Does: McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States.

Oxford Square Capital

• The Trade: Oxford Square Capital Corp. OXSQ CEO Jonathan H Cohen acquired a total of 12,333 shares at an average price of $3.99. The insider spent $49.23 thousand to buy those shares.
• What’s Happening: The company recently released Q4 results.
• What Oxford Square Capital Does: Oxford Square Capital Corp is a closed-end, non-diversified management investment company. The company's investment objective is to maximize its portfolio's total return.