3 Penny Stocks Insiders Are Buying

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.

Charles & Colvard

The Trade: Charles & Colvard, Ltd. CTHR Director Ollin Sykes acquired a total of 86050 shares at an average price of $1.18. To acquire these shares, it cost $101,578.10.

What’s Happening: Charles & Colvard recently reported fourth-quarter FY21 sales growth of 119.5% year-on-year, to $9.73 million.

What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.

MIND Technology

The Trade: MIND Technology, Inc. MIND Director Peter H Blum acquired a total of 30000 shares shares at an average price of $1.92. The insider spent $57,600.00 to buy those shares.

What’s Happening: The company recently reported downbeat quarterly results.

What MIND Technology Does: MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries.

Reed's

The Trade: Reed's, Inc. REED Director John Bello acquired a total of 100000 shares at an average price of $0.56. To acquire these shares, it cost $56,000.00.

What’s Happening: Reed's, last month, reported worse-than-expected Q2 sales.

What Reed's Does: Reed's sells Ginger Beer brand. The company's portfolio of handcrafted, all-natural beverages sold in over 40,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores and on-premise locations including bars and restaurants.