Over $1M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones index closed lower by around 475 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.

Allied Gaming & Entertainment

• The Trade: Allied Gaming & Entertainment Inc. AGAE 10% owner Knighted Pastures LLC acquired a total of 163,534 shares an average price of $1.43. To acquire these shares, it cost around $233,053.
• What’s Happening: On Nov. 9, Allied Gaming posted a decline in third-quarter sales.
• What Allied Gaming & Entertainment Does: Allied Gaming & Entertainment Inc is an experiential entertainment company focused on providing a growing world of gamers with various experiences through renowned assets, products, and services.

Jones Soda

• The Trade: Jones Soda Co. JSDA Director Gregg Reichman acquired a total of 150,000 shares at an average price of $0.15. To acquire these shares, it cost around $21,750.
• What’s Happening: On Nov. 9, Jones Soda posted a narrower quarterly loss.
• What Jones Soda Does: Jones Soda Co develops, produces, markets and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts.

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Globalstar

• The Trade: Globalstar, Inc. GSAT Director James F Lynch acquired a total of 750,000 shares at an average price of $1.69. The insider spent around $1.26 million to buy those shares.
• What’s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million, beating the consensus of $53.7 million.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

Amtech Systems

• The Trade: Amtech Systems, Inc. ASYS Director Robert Averick acquired a total of 14,000 shares at an average price of $3.90. The insider spent around $54,600 to buy those shares.
• What’s Happening: Amtech recently reported worse-than-expected fourth-quarter sales results and issued first-quarter sales guidance below estimates.
• What Amtech Systems Does: Amtech Systems Inc is a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power chips, electronic assemblies, and light-emitting diodes (LEDs).

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