Around $1.1 Million Bet On Ring Energy? Check Out These 3 Penny Stocks Insiders Are Buying

U.S. crude oil futures traded higher this morning on Friday. 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

Ring Energy

• The Trade: Ring Energy, Inc. REI 10% owner Deborah Kruse bought a total of 400,000 shares at an average price of $2.66. To acquire these shares, it cost around $1.06 million.
• What’s Happening: The company posted upbeat quarterly results.
• What Ring Energy Does: Ring Energy Inc is an oil and gas exploration and production company based in Midland, Texas.

VolitionRx

• The Trade: VolitionRx Limited VNRX Director Guy Archibald Innes acquired a total of 312,500 shares at an average price of $2.00. The insider spent around $625 thousand to buy those shares.
• What’s Happening: Salarius Pharmaceuticals and VolitionRx recently entered into R&D collaboration agreement to 'advance rapid epigenetic profiling using Volition's Nu.Q technology to support further development of Salarius' clinical stage drug, seclidemstat.'
• What VolitionRx Does: VolitionRX Ltd is a us-based multi-national life sciences company. It is engaged in developing easy to use blood-based tests to accurately diagnose a range of cancers.

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Petroteq Energy

• The Trade: Petroteq Energy Inc. PQEFF 10% owner Anthony Cantone acquired a total of 250,000 shares at an average price of $0.14. To acquire these shares, it cost around $35.88 thousand.
• What’s Happening: The company’s stock has tumbled 22% since the start of the year.
• What Petroteq Energy Does: Petroteq Energy Inc is a fully integrated oil and gas company focused on the development and implementation of new proprietary technology for oil extraction.