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4 Penny Stocks Insiders Are Buying

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·2 min read
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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.

Biostage

The Trade: Biostage, Inc. (OTC: BSTG) 10% owner Dst Capital Llc acquired a total of 500000 shares at an average price of $2.00. To acquire these shares, it cost $1,000,000.00..

What’s Happening: Biostage recently named Jerry He to Board of Directors and completed private placement of $2.6 million to continue its clinical transition.

What Biostage Does: Biostage Inc is a biotechnology company which is developing engineered organ implants based on novel Cellframe technology.

Lannett

The Trade: Lannett Company, Inc. (NYSE: LCI) Director Patrick Lepore acquired a total of 20000 shares shares at an average price of $3.31. The insider spent $66,200.00 to buy those shares.

What’s Happening: Lannett, last month, reported worse-than-expected Q4 results.

What Lannett Does: Lannett Co develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products.

Greenlane Holdings

The Trade: Greenlane Holdings, Inc. (NASDAQ: GNLN) Director Jeffrey J Uttz acquired a total of 36000 shares at an average price of $2.81. To acquire these shares, it cost $101,160.00.

What’s Happening: Alliance Global Partners recently initiated coverage on Greenlane with a Buy rating and announced a price target of $6.

What Greenlane Does: Greenlane Holdings is a distributor of vaporization products and consumption accessories in the United States.

Parks! America

The Trade: Parks! America, Inc. (OTC: PRKA) Director Charles Kohnen acquired a total of 22000 shares at an average price of $0.62. To acquire these shares, it cost $13,690.00.

What’s Happening: The company, last month, reported total net sales for the fiscal quarter ended July 4, 2021 of $3,874,100, an increase of $653,892, compared to $3,220,208 for the year-ago period.

What Parks! America Does: Parks! America Inc through its subsidiaries involved in the business of acquiring, developing and operating local and regional theme parks and attractions in the United States.

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