Martin Midstream Partners And 3 Other Stocks Under $5 Insiders Are Buying

The Dow Jones closed lower by around 200 points on Tuesday. 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.

Barnwell Industries

• The Trade: Barnwell Industries, Inc. BRN 10% owner Ned L Sherwood Revocable Trust acquired a total of 99,426 shares an average price of $2.60. To acquire these shares, it cost around $258,223.
• What’s Happening: Barnwell Industries reported net loss of $717,000, $0.07 per share, for the three ended June 30, 2023.
• What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.

Cadrenal Therapeutics

• The Trade: Cadrenal Therapeutics, Inc. CVKD Chairman and CEO Quang Pham acquired a total of 70,000 shares at an average price of $0.91. The insider spent around $63,945.
• What’s Happening: Cadrenal Therapeutics highlighted additional need for a new vitamin k antagonist following updates from the recent European Society of Cardiology Congress.
• What Cadrenal Therapeutics Does: Cadrenal Therapeutics Inc is focused on developing a novel therapy with orphan drug indication, tecarfarin, for the prevention of systemic thromboembolism (blood clots) of cardiac origin in patients with end-stage renal disease (on dialysis) and atrial fibrillation (irregular heartbeat) or AFib.

BrightRock Gold

• The Trade: BrightRock Gold Corp. BRGC Chairman/CEO Mahmood Shahsavar Jamshidi acquired a total of 52,590 shares at an average price of $0.41. To acquire these shares, it cost around $21,562.
• What’s Happening: BrightRock Gold announced the first-of-its-kind discovery of a significant spodumene deposit at its Midnight Owl location near Wickenburg, Arizona using SpecTir hyperspectral data.
• What BrightRock Gold Does: BrightRock Gold Corp operates in gold and silver industry in Ghana.

Check This Out: Top 5 Financial Stocks You'll Regret Missing This Quarter

Don’t forget to check out our premarket coverage here

Martin Midstream Partners

• The Trade: Martin Midstream Partners L.P. MMLP Director Ruben S Martin acquired a total of 71,120 shares at an average price of $2.97. The insider spent $211,114 to buy those shares.
• What’s Happening: Martin Midstream Partners posted a decline in second-quarter EPS.
• What Martin Midstream Partners Does: Martin Midstream Partners LP has a diverse set of operations focused in the United States Gulf Coast region.