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.

Selecta Biosciences

• The Trade: Selecta Biosciences, Inc. SELB Director Timothy A Springer acquired a total of 3821273 shares at an average price of $3.06. To acquire these shares, it cost $11,687,810.04.
• What’s Happening: The FDA, last month, placed a clinical hold on Selecta Biosciences Phase 1/2 trial of SEL-302 (which consists of MMA-101 plus ImmTOR) for methylmalonic acidemia (MMA).
• What Selecta Biosciences Does: Selecta Biosciences Inc is a clinical-stage biopharmaceutical company. The company uses its ImmTOR immune tolerance platform, which is designed to give rise to antigen-specific immunity, mitigating unwanted immune responses.

FlexShopper

• The Trade: FlexShopper, Inc. FPAY Director Howard Dvorkin acquired a total of 44962 shares at an average price of $2.49. The insider spent $112,127.57 to buy those shares.
• What’s Happening: The company, last month, posted mixed quarterly results.
• What FlexShopper Does: FlexShopper Inc operates as a holding company in the United States, is engaged in providing certain types of durable goods to consumers on a lease-to-own basis and providing lease-to-own (LTO) terms to consumers of third-party retailers and e-tailers.

Spark Networks

• The Trade: Spark Networks SE LOV 10% owner Osmium Capital Lp acquired a total of 26607 shares at an average price of $3.47. To acquire these shares, it cost $92,196.29.
• What’s Happening: John H. Lewis recently reported a stake of 22.1% in Spark Networks.
• What Spark Networks Does: Spark Networks SE operates a global online dating site. Its focus is on catering to professionals and educated singles with serious relationship intentions in North America and other international markets.

1847 Goedeker

• The Trade: 1847 Goedeker Inc. GOED CEO Albert Fouerti acquired a total of 458876 shares at an average price of $2.18. The insider spent $999,228.40 to buy those shares.
• What’s Happening: The company, last month, posted downbeat quarterly results.
• What 1847 Goedeker Does: 1847 Goedeker Inc is an e-commerce destination for home furnishings, appliances, furniture, home goods, and related products.

Katapult Holdings

• The Trade: Katapult Holdings, Inc. KPLT Director Donald Gayhardt acquired a total of 2648500 shares shares at an average price of $3.74. The insider spent $9,893,790.10 to buy those shares.
• What’s Happening: Katapult recently reported booked gross originations of $40.4 million from Oct. 1 to Nov. 30, 2021.
• What Katapult Holdings Does: Katapult Holdings Inc is an omnichannel lease-purchase platform company and provides alternative solutions for retailers and consumers.