2 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.

Performant Financial

The Trade: Performant Financial Corporation PFMT 10% owner Phil Frohlich bought a total of 853242 shares at an average price of $3.61. To acquire these shares, it cost $3,077,725.87.

What’s Happening: Performant Financial, during August, priced its public offering of 10.525 million shares at $3.80 per share.

What Performant Financial Does: Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States.

PetVivo Holdings

The Trade: PetVivo Holdings, Inc. PETV Director James Martin acquired a total of 1600 shares shares at an average price of $2.46. The insider spent $3,937.19 to buy those shares.

What’s Happening: The company’s shares dropped around 28% over the previous month.

What PetVivo Holdings Does: PetVivo Holdings is a US-based biomedical device company that focuses on the licensing and commercialization of medical devices and therapeutics for pets suffering from osteoarthritis and other afflictions.