3 Penny Stocks Insiders Are Buying

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.

MannKind

The Trade: T2 Biosystems, Inc. (NASDAQ: TTOO) Director Adrian Jones acquired a total of 46254 shares shares at an average price of $0.64. The insider spent $29,773.65 to buy those shares. The insider also sold a total of 41128 shares at an average price of $0.62.

What’s Happening: T2 Biosystems is expected to release results for its second quarter on August 5, 2021.

What MannKind Does: T2 Biosystems Inc provides rapid in vitro diagnostic tests to hospitals and laboratories.

Qumu

The Trade: Qumu Corporation (NASDAQ: QUMU) Director Edward D Horowitz acquired a total of 10000 shares at an average price of $2.45. To acquire these shares, it cost $24,525.44.

What’s Happening: Qumu, last week, reported better-than-expected Q2 sales.

What Qumu Does: Qumu Corp provides the software solutions to create, manage, secure, distribute and measure the success of live and on-demand video for enterprises.

PHX Minerals

The Trade: PHX Minerals Inc. (NYSE: PHX) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 50000 shares shares at an average price of $3.00. The insider spent $150,000.00 to buy those shares.

What’s Happening: PHX Minerals is scheduled to report fiscal third quarter results on August 5, 2021. The company’s stock has gained over 27% year-to-date.

What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.