$10 Million Bet On This Stock? 3 Penny Stocks Insiders are Buying

U.S. stock futures traded slightly lower this morning on Wednesday after the Nasdaq recorded sharp gains on Tuesday. 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

CalAmp

• The Trade: CalAmp Corp. CAMP Director Wes Cummins acquired a total of 106,900 shares at an average price of $4.14. To acquire these shares, it cost around $442.57 thousand.
• What’s Happening: CalAmp recently reported worse-than-expected Q1 results.
• What CalAmp Does: CalAmp Corp provides wireless communications solutions applications to customers.

Verrica Pharmaceuticals

• The Trade: Verrica Pharmaceuticals Inc. VRCA Director Paul Manning acquired a total of 4,761,904 shares at an average price of $2.10. The insider spent around $10 million to buy those shares.
• What’s Happening: Verrica Pharmaceuticals recently priced its underwritten public offering of 12,000,000 shares at $2.10 per share.
• What Verrica Pharmaceuticals Does: Verrica Pharmaceuticals Inc is a dermatology therapeutics company engaged in the development and commercialization of novel treatments that provide a meaningful benefit for people living with skin diseases.

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Superior Industries International

• The Trade: Superior Industries International, Inc. SUP 10% owner Thomas Lynch acquired a total of 7,371 shares at an average price of $3.88. To acquire these shares, it cost around $28.63 thousand.
• What’s Happening: The company posted upbeat quarterly results during May.
• What Superior Industries International Does: Superior Industries International Inc is engaged in the design and manufacture of aluminum wheels for sale to OEMs in North America and Europe and to the aftermarket in Europe.