$1.5M Bet On This Consumer Defensive Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | June 22, 2023 09:16am

The Dow Jones closed lower by over 100 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.

Whole Earth Brands

• The Trade: Whole Earth Brands, Inc. (NASDAQ:FREE) 10% owner Sababa Holdings Free LLC acquired a total 488,923 shares an average price of $3.00. To acquire these shares, it cost around $1.47 million.
• What’s Happening: Whole Earth Brands posted a loss for the first quarter.
• What Whole Earth Brands Does: Whole Earth Brands Inc is a food company enabling healthier lifestyles and providing access to high-quality, plant-based sweeteners, flavor enhancers and other foods through diverse portfolio of trusted brands and delicious products.

Flotek Industries

• The Trade: Flotek Industries, Inc. (NYSE:FTK) Director Matt Wilks acquired a total of 54,539 shares at an average price of $0.78. The insider spent around $42.54 thousand to buy those shares.
• What’s Happening: Flotek promoted President Ryan Ezell to CEO.
• What Flotek Industries Does: Flotek Industries Inc delivers chemistry-based technology solutions for energy, industrial, and consumer applications.

Rubicon Technologies

• The Trade: Rubicon Technologies, Inc. (NYSE:RBT) 10% owner Jose Miguel Enrich acquired a total of 240,154 shares at an average price of $0.42. To acquire these shares, it cost around $100 thousand.
• What’s Happening: Rubicon Technologies issued an update on enhanced liquidity and progress of strategic plan.
• What Rubicon Technologies Does: Rubicon Technologies Inc is a software platform providing full-service waste management, recycling, and smart city technology solutions.

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Heliogen

• The Trade: Heliogen, Inc. (NYSE:HLGN) 10% owner Patrick Soonshiong acquired a total of 366,659 shares at an average price of $0.23. The insider spent $85.39 thousand to buy those shares.
• What’s Happening: Heliogen and NantG Power reported a strategic collaboration to innovate solar thermal calcination design.
• What Heliogen Does: Heliogen Inc is a concentrated solar energy system that is being developed to unlock the power of sunlight to replace fossil fuels.

Posted In: FREE FTK HLGN RBT