Globalstar And 2 Other Stocks Under $2 Insiders Are Aggressively Buying

The Dow Jones closed higher by over 400 points on Wednesday. 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.

Globalstar

• The Trade: Globalstar, Inc. GSAT Director James Monroe III acquired a total 220,535 shares an average price of $1.04. To acquire these shares, it cost around $229.26 thousand.
• What’s Happening: Globalstar reported first-quarter FY23 sales growth of 78.9% year-on-year to $58.64 million, beating the consensus of $49.43 million.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

Hydrofarm Holdings Group

• The Trade: Hydrofarm Holdings Group, Inc. HYFM Director, CEO and Chairman of the Board William Douglas Toler acquired a total of 50,000 shares at an average price of $1.08. The insider spent around $53.75 thousand to buy those shares.
• What’s Happening: Hydrofarm Holdings reported worse-than-expected first-quarter financial results.
• What Hydrofarm Holdings Group Does: Hydrofarm Holdings Group Inc is a distributor and manufacturer of agriculture equipment and supplies.

Bird Global

• The Trade: Bird Global, Inc. BRDS Director Travis Vanderzanden acquired a total of 250,000 shares at an average price of $0.11. To acquire these shares, it cost around $27.77 thousand.
• What’s Happening: The company posted quarterly revenue of $29.5 million compared to $35.4 million in the year-ago period.
• What Bird Global Does: Bird Global Inc is a micro-mobility company engaged in delivering electric transportation solutions for short distances.

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