The Nasdaq Composite closed down more than 100 points on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders buy or sell stocks, it indicates their confidence or concern about the prospects of the company. Investors and traders interested in penny stocks may consider this as a factor in their overall investment or trading decision.
Below is an overview of some recent notable insider trades for penny stocks. To find out more, see Benzinga Insider Trading platform.3
- The exchange: Live One, Inc. OLV CEO and President Robert S Ellin purchased a total of 35,000 shares at an average price of $0.67. To acquire these shares, it cost about 23.5 thousand dollars.
- What is happening: HC Wainwright & Co. held LiveOne with a buy and lowered the price target from $4 to $3.
- What LiveOne does: LiveOne Inc, formerly LiveXLive Media Inc, is the Internet’s premium network for live music and music-related video content.
- The exchange: electroCore, Inc. ECOR Director Joseph Errico acquired a total of 100,000 shares at at an average price of $0.31. The insider spent approximately $31.24 thousand to purchase these shares.
- What is happening: ElectroCore recently reported worse-than-expected third-quarter EPS and sales results.
- What electroCore does: electroCore Inc is a commercial-stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology.
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- The exchange: Biodesix, Inc. BDSX Jack Schuler, 10% owner acquired a total of 8,695,652 shares at an average price of $1.15. To acquire these shares, it cost about 10 million dollars.
- What is happening: Biodesix recently announced the price for a $35.1 million increased public offering of 30.5 million common shares at a price of $1.15 per share.
- What does Biodesix do?: Biodesix, incorporated in 2005, operates as a data-driven diagnostic solutions company in the United States.
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