The Dow Jones Industrial Average experienced a dip on Monday, closing over 100 points lower. As investors navigate this market, insider trading can offer valuable insight into a company’s potential. When company insiders purchase shares, it often signifies their belief in the company’s future prospects. Here’s a closer look at recent notable insider transactions for penny stocks:
ONE Group Hospitality
Jonathan Segal, a Director at ONE Group Hospitality, Inc. (STKS), recently bought 5,000 shares at an average price of $3.53, totaling $17,650. This purchase comes after the company reported strong quarterly earnings on August 6th. ONE Group Hospitality is a restaurant company that focuses on developing, owning, and managing upscale and casual restaurants and lounges. They also provide food and beverage services to hotels, casinos, and other high-end venues globally.
Solo Brands
Christopher T Metz, President and CEO of Solo Brands, Inc. (DTC), acquired 250,000 shares at an average price of $1.30, spending $324,804. This purchase follows the company’s second-quarter earnings report on August 7th, where they reported worse-than-expected adjusted earnings per share (EPS) and lowered their revenue guidance for the fiscal year 2024. Solo Brands is a direct-to-consumer (DTC) platform operating various outdoor lifestyle brands, including Solo Stove, Oru, ISLE, TerraFlame, IcyBreeze, and Chubbies apparel.
Xeris Biopharma
John P. Schmid, a Director at Xeris Biopharma Holdings, Inc. (XERS), purchased 4,285 shares at an average price of $2.37, for a total of $10,134. This comes after the company reported better-than-expected second-quarter financial results on August 8th and increased their revenue guidance for the fiscal year 2024. Xeris Biopharma is a biopharmaceutical company developing and commercializing unique therapies for patients in endocrinology, neurology, and gastroenterology.
These insider transactions offer a glimpse into the potential direction of these penny stocks. Investors considering these companies might find this information useful when making informed investment decisions.
