Over $4M Bet On This Industrial Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Avi Kapoor | April 19, 2024 08:54am

The Dow Jones index closed higher by around 0.1% on Thursday. 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.

Mobile Infrastructure

• The Trade: Mobile Infrastructure Corporation (NYSE:BEEP) CEO Manuel Chavez III acquired a total of 16,861 shares an average price of $3.45. To acquire these shares, it cost around $58,170.
• What's Happening: Mobile Infrastructure is expected to issue its first quarter 2024 earnings release on May 15, 2024.
• What Mobile Infrastructure Does: Mobile Infrastructure Corp focuses on acquiring, owning, and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States.

GrafTech International

• The Trade: GrafTech International Ltd. (NYSE:EAF) 10% owner Colonial House Capital Ltd acquired a total of 2,303,599 shares at at an average price of $1.78. To acquire these shares, it cost around $4.1 million.
• What's Happening: GrafTech International is scheduled to hold its first quarter 2024 earnings conference call on April 26, 2024.
• What GrafTech International Does: GrafTech International Ltd is a manufacturer of high-quality graphite electrode products essential to the production of EAF steel and other ferrous and non-ferrous metals.

Vuzix

• The Trade: Vuzix Corporation (NASDAQ:VUZI) President and CEO Paul J Travers acquired a total of 7,500 shares at an average price of $1.34. The insider spent around $10,062 to buy those shares.
• What's Happening: On April 15, Vuzix posted downbeat quarterly sales.
• What Vuzix Does: Vuzix Corp is engaged in the design, manufacturing, marketing, and selling of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense, and consumer markets.

Read More: Investor Optimism Edges Lower; S&P 500 Settles Lower For Fifth Session

Posted In: BEEP EAF VUZI