Insiders Buying These 4 Penny Stocks

The Nasdaq Composite tumbled over 260 points on Monday. 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.

Owlet

• The Trade: Owlet, Inc. OWLT CEO Kurt Workman acquired a total of 11,652 shares at an average price of $2.23. To acquire these shares, it cost $26.01 thousand.
• What’s Happening: Owlet recently reported worse-than-expected Q4 EPS results.
• What Owlet Does: Owlet Inc is engaged in providing a digital parenting platform that aims to give parents real-time data and insights to help parents feel more calm and confident.

Velodyne Lidar

• The Trade: Velodyne Lidar, Inc. VLDR Director Albert Christopher Thomas acquired a total of 20,000 shares at an average price of $2.09. The insider spent around $41.8 thousand to buy those shares.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Velodyne Lidar Does: Velodyne Lidar Inc provides smart, powerful lidar solutions. It is known for its broad portfolio of lidar technologies.

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

Synchronoss Technologies

• The Trade: Synchronoss Technologies, Inc. SNCR EVP & Chief Commercial Officer Christopher K Hill acquired a total of 100,000 shares
• at an average price of $1.19. To acquire these shares, it cost around $119.26 thousand.
• What’s Happening: Synchronoss Technologies recently announced it will sell its digital experience platform, activation solutions for $14 million.
• What Synchronoss Technologies Does: Synchronoss Technologies Inc is a provider of cloud- and software-based activation solutions for mobile carriers, enterprises, retailers, and original equipment manufacturers.

Oxford Square Capital

• The Trade: Oxford Square Capital Corp. OXSQ CEO Jonathan H Cohen acquired a total of 13,350 shares at an average price of $3.96. The insider spent $52.93 thousand to buy those shares.
• What’s Happening: The company recently released Q4 results.
• What Oxford Square Capital Does: Oxford Square Capital Corp is a closed-end, non-diversified management investment company.