Around $12 Million Bet On Sonim Technologies? 4 Penny Stocks Insiders Are Buying

US producer prices for final demand increased 1.1% month-over-month in June, above analysts’ expectations of 0.8%. 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.3

Sonim Technologies

• The Trade: Sonim Technologies, Inc. SONM Jeffrey Wang acquired a total of 13,928,571 shares at an average price of $0.84. To acquire these shares, it cost around $11.7 million.
• What’s Happening: Sonim Technologies announced completion of first closing of growth equity transaction.
• What Sonim Technologies Does: Sonim Technologies Inc is a provider of ultra-rugged mobile devices, including phones and accessories designed specifically for task workers physically engaged in their work environments, often in mission-critical roles.

TC Biopharm

• The Trade: TC Biopharm (Holdings) Plc TCBP 10% owner Edward Kenneth Randall acquired a total of 20,803 shares at an average price of $1.15. The insider spent around $23.92 thousand to buy those shares.
• What’s Happening: TC BioPharm, last month, announced pricing of a $4 million underwritten public offering.
• What TC Biopharm Does: TC BioPharm (Holdings) PLC is a clinical-stage biopharmaceutical company focused on developing novel immunotherapy products that are based on its proprietary allogeneic gamma delta T (abbreviated as GD-T) cell platform.

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Quest Resource Holding

• The Trade: Quest Resource Holding Corporation QRHC 10% owner Joshua Landes acquired a total of 10,000 shares at an average price of $4.09. To acquire these shares, it cost around $40.93 thousand.
• What’s Happening: The company posted upbeat quarterly earnings in May.
• What Quest Resource Holding Does: Quest Resource Holding Corp is a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses.

ProtoKinetix

• The Trade: ProtoKinetix, Incorporated PKTX President and CEO Clarence E. Smith acquired a total of 2,666,667 shares at an average price of $0.03. The insider spent $80 thousand to buy those shares.
• What’s Happening: The company’s stock dipped 63% over the past six months.
• What ProtoKinetix Does: ProtoKinetix Inc is a research and development stage biotechnology company focused on scientific medical research of AFGPs (Anti-Freeze Glycoproteins).