Insiders Buying These 5 Penny Stocks

The IHS Markit Russian composite PMI increased to 50.8 in February from 50.3 in the previous month, recording growth in private sector activity for the third straight month. Investors, meanwhile, focused on some notable insider trades

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.

Skillz

• The Trade: Skillz Inc. SKLZ Director Harry Sloan acquired a total of 94,880 shares at an average price of $3.10. To acquire these shares, it cost $293.72 thousand.
• What’s Happening: Skillz recently reported worse-than-expected Q4 sales results and issued FY22 sales guidance below estimates.
• What Skillz Does: Skillz Inc is a mobile game development company. Its platform helps developers build multi-million dollar franchises by enabling social competition in their games.

Charles & Colvard

• The Trade: Charles & Colvard, Ltd. CTHR CFO Clint J Pete acquired a total of 10,000 shares at an average price of $1.78. The insider spent around $17.8 thousand to buy those shares.
• What’s Happening: The company, last month, posted downbeat quarterly earnings.
• What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.

Also check this: Insiders Buy Around $2.8M Of 3 Stocks

Eos Energy Enterprises

• The Trade: Eos Energy Enterprises, Inc. EOSE Chief Financial Officer Randall Gonzales acquired a total of 43,500 shares at an average price of $2.75. To acquire these shares, it cost around $119.41 thousand.
• What’s Happening: Eos Energy Enterprises posted a FY21 loss of $2.36 per share.
• What Eos Energy Enterprises Does: Eos Energy Enterprises Inc designs, manufacture, and markets battery storage solutions for the electric utility industry. The solutions are used in the utility sector, the renewable energy sector, and the industrial sector.

Flotek Industries

• The Trade: Flotek Industries, Inc. FTK CEO and President John Gibson Jr acquired a total of 4,000 shares at an average price of $1.34. The insider spent $5.36 thousand to buy those shares.
• What’s Happening: Flotek shares, last month, announced it entered into a long-term agreement with ProFrac Services to provide its full portfolio of sustainable chemistry solutions to a dedicated portion of ProFrac's hydraulic fracturing fleets.
• What Flotek Industries Does: Flotek Industries Inc delivers chemistry-based technology solutions for energy, industrial, and consumer applications. It develops and supplies chemistry and services to the oil and gas industries, and high-value compounds to companies that make food and beverages, cleaning products, cosmetics, and others.

Emmaus Life Sciences

• The Trade: Emmaus Life Sciences, Inc. EMMA Chairman and CEO Yutaka Niihara acquired a total of 53,800 shares at an average price of $1.49. The insider spent $80.16 thousand to buy those shares.
• What’s Happening: The company’s stock dropped around 2% over the previous month.
• What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.