Executives Buy Over $2.3M Of 5 Penny Stocks

Author: Lisa Levin | March 09, 2022 07:58am

US stock futures traded sharply higher this morning after the Dow Jones dropped more than 180 points on Tuesday. 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.

Evolving Systems

• The Trade: Evolving Systems, Inc. (NASDAQ:EVOL) 10% owner Karen Singer acquired a total of 6,117 shares at an average price of $1.82. To acquire these shares, it cost $11.13 thousand.
• What’s Happening: The company’s stock dropped 5% over the last month.
• What Evolving Systems Does: Evolving Systems Inc provides real-time digital engagement solutions and services. It offers services to the wireless carrier and consumer financial services markets.

Velodyne Lidar

• The Trade: Velodyne Lidar, Inc. (NASDAQ:VLDR) Director Ernest Maddock acquired a total of 20,000 shares at an average price of $2.50. The insider spent around $49.9 thousand to buy those shares.
• What’s Happening: The company recently posted upbeat quarterly sales.
• What Velodyne Lidar Does: Velodyne Lidar Inc provides smart, powerful lidar solutions.

Also check this: Insiders Buy Around $2.8M Of 3 Stocks

a.k.a. Brands Holding

• The Trade: a.k.a. Brands Holding Corp. (NYSE:AKA) Director Myles McCormick acquired a total of 10,000 shares at an average price of $4.28. To acquire these shares, it cost around $42.8 thousand.
• What’s Happening: A.K.A. Brands recently issued Q1 sales guidance below analyst estimates.
• What a.k.a. Brands Holding Does: a.k.a. Brands Holding Corp is a portfolio of online fashion brands built for the next generation of consumers.

Martin Midstream Partners

• The Trade: Martin Midstream Partners L.P. (NASDAQ:MMLP) Director Ruben S Martin acquired a total of 9,278 shares at an average price of $3.24. The insider spent $30.1 thousand to buy those shares.
• What’s Happening: Martin Midstream Partners, last month, reported FY21 sales of $882.4 million.
• What Martin Midstream Partners Does: Martin Midstream Partners LP has a diverse set of operations focused in the United States Gulf Coast region.

Archer Aviation

• The Trade: Archer Aviation Inc. (NYSE:ACHR) 10% owner Marc E Lore acquired a total of 746,183 shares at an average price of $3.02. The insider spent $2.25 million to buy those shares.
• What’s Happening: The company’s stock has dropped around 47% since the start of the year.
• What Archer Aviation Does: Archer Aviation Inc advances the benefits of sustainable air mobility. It is creating the electric airline that moves people throughout cities in a quick, safe, sustainable, and cost-effective manner.

Posted In: ACHR AKA EVOL MMLP VLDR