5 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.

Mitesco

• The Trade: Mitesco, Inc. MITI CEO Lawrence M Diamond acquired a total of 21000 shares at an average price of $0.17. To acquire these shares, it cost $3,570.00.
• What’s Happening: The company’s stock has jumped around 500% since the start of the year.
• What Mitesco Does: Mitesco Inc is a public, development stage company who acquires and implements technologies and services to improve the quality of care, reduce cost, and enhance consumer convenience.

Broad Street Realty

• The Trade: Broad Street Realty, Inc. BRST CEO Michael Z Jacoby acquired a total of 22500 shares at an average price of $2.56. The insider spent $57,675.00 to buy those shares.
• What’s Happening: The company’s shares dropped around 15% over the previous month.
• What Broad Street Realty Does: Broad Street Realty Inc is a fully integrated real estate company that owns, operates, develops, and redevelops primarily grocery-anchored shopping centers and street retail-based properties in the Mid-Atlantic and Denver, Colorado markets.

Caribou Biosciences

• The Trade: Caribou Biosciences, Inc. CRBU Chief Legal Officer Barbara McClung acquired a total of 6127 shares at an average price of $2.69. To acquire these shares, it cost $16,481.63.
• What’s Happening: Oppenheimer initiated coverage on the stock with an Outperform rating and announced a $36 price target.
• What Caribou Biosciences Does: Caribou Biosciences Inc is a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients with devastating diseases by applying its novel CRISPR platform, CRISPR hybrid RNA-DNA (chRDNA), toward the development of next-generation, genome-edited cell therapies.

ARC Document Solutions

• The Trade: ARC Document Solutions, Inc. ARC Chairman, President and CEO Kumarakulasingam Suriyakumar acquired a total of 59835 shares at an average price of $2.92. The insider spent $174,658.88 to buy those shares.
• What’s Happening: ARC, last month, reported continuing strength in Q3 sales, EPS and EBITDA.
• What ARC Document Solutions Does: ARC Document Solutions Inc is a global document solutions provider. The company's service offerings include managed print services (MPS), offsite services, archive and information management ( AIM), specialized color printing, Web-based document management applications, and equipment and supplies sales.

Charles & Colvard

• The Trade: Charles & Colvard, Ltd. CTHR Director Ollin Sykes acquired a total of 16990 shares shares at an average price of $2.78. The insider spent $47,232.20 to buy those shares.
• What’s Happening: The company, last month, posted upbeat quarterly results.
• What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.