4 Penny Stocks Insiders Are Buying: Heritage Global, Palisade Bio And More

US crude oil futures traded lower this morning on Friday. 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.

Gaucho Group

• The Trade: Gaucho Group Holdings, Inc. VINO Director Reuben Cannon acquired a total of 8,416 shares at an average price of $3.60. To acquire these shares, it cost $30.27 thousand.
• What’s Happening: The company’s stock has climbed around 16% since the start of the year.
• What Gaucho Group Does: Gaucho Group Holdings Inc develops and operates real estate projects in Argentina. It operates a hotel, golf and tennis resort, vineyard and producing winery in addition to developing residential lots located near the resort.

Palisade Bio

• The Trade: Palisade Bio, Inc. PALI Chief Medical Officer Michael Dawson acquired a total of 15,000 shares at an average price of $1.14. The insider spent around $17.09 thousand to buy those shares.
• What’s Happening: Palisade Bio recently announced it received a "Study May Proceed" letter from the FDA for a phase 3 clinical trial evaluating LB1148 to accelerate the return of bowel function following abdominal surgery.
• What Palisade Bio Does: Palisade Bio Inc is a clinical-stage biopharma company. It is advancing oral therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage.

Also check this: Executives Buy Over $17M Of 3 Stocks

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Heritage Global

• The Trade: Heritage Global Inc. HGBL Director Michael Hexner acquired a total of 18,657 shares at an average price of $1.35. To acquire these shares, it cost around $25.19 thousand.
• What’s Happening: The company recently posted weak quarterly earnings.
• What Heritage Global Does: Heritage Global Inc is a diversified financial services company.

Skkynet Cloud Systems

• The Trade: Skkynet Cloud Systems, Inc. SKKY President Paul E Thomas acquired a total of 10,000 shares at an average price of $0.19. The insider spent $1.88 thousand to buy those shares.
• What’s Happening: The company’s shares tumbled 73% over the previous six months.
• What Skkynet Cloud Systems Does: Skkynet Cloud Systems Inc is an industrial middleware vendor company. It provides connectivity and data acquisition to a wide variety of industrial and office hardware and software products.