The Nasdaq Composite dropped by more than 400 points on Friday. Investors, meanwhile, focused on some notable insider trades.
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.3
Carrols Restaurant Group
- The Trade: Carrols Restaurant Group, Inc. TAST President and CEO Paulo A Pena acquired a total of 21,275 shares at an average price of $2.35. To acquire these shares, it cost $49.96 thousand.
- What’s Happening: Carrols Restaurant, last month, reported first-quarter FY22 sales growth of 2.4% year-on-year to $399.48 million, missing the consensus of $402.37 million.
- What Carrols Restaurant Group Does: Carrols Restaurant Group Inc is a restaurant company. It owns and operates Burger King restaurants in the Northeastern, Midwestern, and Southeastern United States.
- The Trade: Cytosorbents Corporation CTSO CEO Phillip P Chan acquired a total of 16,000 shares at an average price of $2.17. The insider spent around $34.78 thousand to buy those shares.
- What’s Happening: CytoSorbents recently announced a partnership with Nikkiso to distribute the PureADJUST hemoperfusion blood pump and supplies in 14 countries.
- What Cytosorbents Does: CytoSorbents Corp is a critical care immunotherapy leader commercializing its European Union approved CytoSorb blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients in around 55 countries.
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- The Trade: WidePoint Corporation WYY Director Philip N Garfinkle acquired a total of 2,000 shares at an average price of $2.84. To acquire these shares, it cost around $5.68 thousand.
- What’s Happening: WidePoint, last month, posted a Q1 loss of $0.04 per share.
- What WidePoint Does: WidePoint Corp is a provider of trusted mobility management (TM2) that offers federally certified communications management, identity management, and interactive bill presentment and analytics solutions.