Over $1M Bet On This Basic Materials Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed slightly lower on Friday. 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.

Paramount Gold Nevada

• The Trade: Paramount Gold Nevada Corp. PZG 10% owner Albert Friedberg acquired a total 4,300,000 shares an average price of $0.32. To acquire these shares, it cost around $1.38 million.
• What’s Happening: The company’s stock dropped 17% over the past month.
• What Paramount Gold Nevada Does: Paramount Gold Nevada Corp is an exploration-stage mining company. Together with its subsidiaries, it is engaged in the business of acquiring, exploring, and developing precious metal projects in the United States.

MiNK Therapeutics

• The Trade: MiNK Therapeutics, Inc. INKT 10% owner Agenus Inc acquired a total of 45,426 shares at an average price of $1.47. The insider spent around $66.64 thousand to buy those shares.
• What’s Happening: MiNK Therapeutics reported a narrower-than-expected Q1 loss.
• What MiNK Therapeutics Does: MiNK Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing allogeneic invariant natural killer T cell therapies to treat cancer and other life-threatening illnesses.

Performant Financial

• The Trade: Performant Financial Corporation PFMT 10% owner Phil Frohlich acquired a total of 30,000 shares at an average price of $2.61. To acquire these shares, it cost around $78.3 thousand.
• What’s Happening: Performant Finl posted a narrower-than-expected quarterly loss.
• What Performant Financial Does: Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States.

Latham Group

• The Trade: Latham Group, Inc. SWIM Director James Cline acquired a total of 50,000 shares at an average price of $3.40. The insider spent $170 thousand to buy those shares.
• What’s Happening: Latham Group reported better-than-expected Q1 sales results.
• What Latham Group Does: Latham Group Inc is a designer, manufacturer, and marketer of in-ground residential swimming pools, liners, and covers in North America, Australia, and New Zealand.

Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Materials Stocks Delivering High-Dividend Yields

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