Executives Buy Around $2M Of 5 Penny Stocks

Crude oil futures traded higher by around 2% on Wednesday. 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.

Clover Health Investments

• The Trade: Clover Health Investments, Corp. CLOV Director Lee Shapiro acquired a total of 80,000 shares at an average price of $3.10. To acquire these shares, it cost $248.07 thousand.
• What’s Happening: Clover Health Investments, last month, reported better-than-expected Q4 sales results.
• What Clover Health Investments Does: Clover Health Investments Corp is a healthcare technology company. It uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients.

OPKO Health

• The Trade: OPKO Health, Inc. OPK 10% owner Frost Gamma Investments Trust acquired a total of 35,000 shares at an average price of $3.04. The insider spent around $106.23 thousand to buy those shares.
• What’s Happening: OPKO Health, last month, reported worse-than-expected Q4 EPS results.
• What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.

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

Otonomo Technologies

• The Trade: Otonomo Technologies Ltd. OTMO Director Asif Muhammad Seemab acquired a total of 769,410 shares at an average price of $1.42. To acquire these shares, it cost around $1.09 million.
• What’s Happening: Otonomo recently announced plans to acquire The Floow in a cash and stock deal valued at up to $69 million.
• What Otonomo Technologies Does: Otonomo Technologies Ltd is a one-stop-shop for vehicle data. It delivers the Otonomo Vehicle Data Platform and marketplace that enables car manufacturers, drivers, and service providers to be part of a connected ecosystem.

Skillz

• The Trade: Skillz Inc. SKLZ Director Harry Sloan acquired a total of 100,000 shares at an average price of $2.27. The insider spent $227 thousand to buy those shares.
• What’s Happening: Skillz, last month, reported worse-than-expected Q4 sales results.
• 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.

Ribbon Communications

• The Trade: Ribbon Communications Inc. RBBN Director Bruns Grayson acquired a total of 100,000 shares at an average price of $2.81. The insider spent $281 thousand to buy those shares.
• What’s Happening: Ribbon Communications, last month, reported worse-than-expected Q4 EPS and sales results.
• What Ribbon Communications Does: Ribbon Communications Inc provides network solutions primarily to telecommunications, wireless and cable service providers worldwide.