Over $1M Bet On Stronghold Digital Mining? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed slightly higher on Monday. 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.

Stronghold Digital Mining

• The Trade: Stronghold Digital Mining, Inc. SDIG CEO Gregory A Beard acquired a total 1,241,555 shares an average price of $0.93. To acquire these shares, it cost around $1.15 million.
• What’s Happening: Stronghold Digital Mining entered into $10 million private placement to fund purchase of bitcoin miners.
• What Stronghold Digital Mining Does: Stronghold Digital Mining Inc is a vertically integrated crypto asset mining company currently focused on mining Bitcoin.

Ault Alliance

• The Trade: Ault Alliance, Inc. AULT Executive Chairman Milton C. Ault III acquired a total of 480,000 shares at an average price of $0.10. The insider spent around $49.22 to buy those shares.
• What’s Happening: Ault Alliance recently announced a share buyback of up to 333,333,333 shares of common stock at $0.15 per sare through an exchange offer for a new class of preferred stock.
• What Ault Alliance Does: Ault Alliance Inc is a diversified holding company.

Avalo Therapeutics

• The Trade: Avalo Therapeutics, Inc. AVTX 10% owner Caissa Capital Management Ltd acquired a total of 17,500 shares at an average price of $3.07. To acquire these shares, it cost around $53.67 thousand.
• What’s Happening: Avalo Therapeutics, said on Apr. 20, it delivered written notice to Cantor Fitzgerald, RBC Capital Markets to terminate sales agreement.
• What Avalo Therapeutics Does: Avalo Therapeutics Inc is a clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases.

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