4 Penny Stocks Insiders Are Buying: Athira Pharma, Great Elm Group And More

US stocks recorded losses for 2022. 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.

BitNile Holdings

• The Trade: BitNile Holdings, Inc. NILE Executive Chairman Milton C. Ault III bought a total of 1,913,777 shares at an average price of $0.10. To acquire these shares, it cost around $197.12 thousand.
• What’s Happening: BitNile Holdings plans to launch a next-generation marketplace, BitNile.com and "go live" March 1, 2023.
• 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.

Cadiz

• The Trade: Cadiz Inc. CDZI Director Maria Echaveste acquired a total of 2,000 shares at an average price of $2.65. The insider spent around $5.3 thousand to buy those shares.
• What’s Happening: Cadiz, during November, announced a $10 million direct placement.
• What Cadiz Does: Cadiz Inc is a land and water resource development company in California.

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Athira Pharma

• The Trade: Athira Pharma, Inc. ATHA CFO Glenna Mileson acquired a total of 50,763 shares at an average price of $2.84. To acquire these shares, it cost around $144.34 thousand.
• What’s Happening: Athira Pharma, last month, presented preclinical data supporting therapeutic potential of ATH-1105 in ALS at the 33rd International Symposium on ALS/MND.
• What Athira Pharma Does: Athira Pharma Inc is a biotechnology company focused on developing small molecules to restore neuronal health and stop neurodegeneration.

Great Elm Group

• The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC acquired a total of 386,501 shares at an average price of $2.00. The insider spent $772.25 thousand to buy those shares.
• What’s Happening: Great Elm Group, during November, posted a Q1 loss of $0.29 per share.
• What Great Elm Group Does: Great Elm Group Inc operates as a holding company. The company operates in two business lines including durable medical equipment and investment management.