Insiders Buy Around $2.5M Of 3 Penny Stocks

US crude oil futures traded higher this morning 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.3

BitNile Holdings

• The Trade: BitNile Holdings, Inc. NILE Executive Chairman Milton C. Ault III acquired a total of 4,000,000 shares at an average price of $0.36. To acquire these shares, it cost $1.45 million.
• What’s Happening: BitNile recently said Q1 sales results were higher year over year.
• What BitNile Holdings Does: BitNile Holdings Inc is a diversified holding company owning subsidiaries engaged in commercial and defence solutions, commercial lending, and data centre operations in North America, Europe, the Middle East, and internationally.

PEDEVCO

• The Trade: PEDEVCO Corp. PED 10% owner SK Energy LLC acquired a total of 200,000 shares at an average price of $1.27. The insider spent around $253.42 thousand to buy those shares.
• What’s Happening: The company recently swung to a profit for the first quarter.
• What PEDEVCO Does: PEDEVCO Corp is an energy company. It is engaged in the acquisition, exploration, development, and production of oil and natural gas shale plays in the Denver-Julesberg Basin (D-J Basin) in Colorado.

Also check this: Fresh Del Monte Produce And 2 Other Stocks Insiders Are Buying

Don’t forget to check out our premarket coverage here .

Applied Blockchain

• The Trade: Applied Blockchain, Inc. APLD CEO, Chairman Wes Cummins acquired a total of 170,383 shares at an average price of $4.42. To acquire these shares, it cost around $753.14 thousand.
• What’s Happening: Applied Blockchain, last month, posted a Q3 loss of $0.12 per share.
• What Applied Blockchain Does: Applied Blockchain Inc is an Ethereum and altcoin mining company.