Insiders Decided These Were Peny Stocks To Buy Right Now
Do you like taking advantage of discounts? Whether it’s something you saw online or a clearance sale at a local store, everyone wants a deal. Taking advantage of perceived value at lower prices is engrained in the fabric of consumerism. Coincidentally, if you’re a trader or investor, it’s also something that drives you to find new opportunities. But whether we’re talking about penny stocks or higher priced companies like Apple or Tesla, the goal is the same: make money and repeat the process.
When it comes to making money with penny stocks, however, the upside can be far greater at a much faster pace than that of their blue-chip counterparts. Case in point, TSLA stock is up more than 40% year-to-date. Based on any account of stock market math, this is a massive return. But have a look at one of the popular penny stocks today: Siyata Mobile Inc. (NASDAQ: SYTA).
Following news of a $1.3 million purchase order, shares jumped from under $3 on Monday to more than $6.70 one day later. Now, will that uptrend last? Time will tell, but it comes second to my point that penny stocks can offer massive potential in very short periods. The “secret,” if you want to call it that is being able to handle high-risk trades and put a plan in place to take advantage of volatility.
Penny Stocks To Buy According To Insiders
It isn’t always momentum that traders hunt for. Others will “follow the money” and look for big buyers stepping in. Additionally, they may look for insider activity. Generally speaking, when management or larger shareholders buy or sell a stock, that sends a message to the market and can influence sentiment. Today, we’ll look at some of the insiders that recently decided that the names below were penny stocks to buy right now. This is also a continuation of our article: 5 Penny Stocks To Buy In December According To Insiders.
- Selecta Biosciences Inc. (NASDAQ: SELB)
- Outlook Therapeutics (NASDAQ: OTLK)
- Pedevco Corp. (NYSE: PED)
- Xos Inc. (NASDAQ: XOS)
- Harbor Custom Development Inc. (NASDAQ: HCDI)
Selecta Biosciences Inc. (NASDAQ: SELB)
Biotech is red-hot today. If you look at the major industry ETFs like the IBB and XBI, you’ll see what I mean. Both have enjoyed a strong reversal from Monday’s low, which has prompted the market to pay closer attention to related names.
Selecta Biosciences is developing its ImmTOR platform for tolerogenic therapies. Its SEL-302 treatment candidate was s sticking point earlier this quarter. It’s the company’s potential treatment for methylmalonic acidemia, a disease where the body cannot break down certain proteins and fats. Last month the FDA put a clinical hold on the company’s trial to obtain additional information related to the chemistry, manufacturing, and controls related to the treatment. This obviously caused concern, which is why SELB stock slipped during November.
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However, this month, Selecta’s latest update may have brought a bit of optimism into the market. The company and Swedish Orphan Biovitrum completed the enrollment for the first of two clinical studies of a phase 3 DISSOLVE program for Selecta’s SEL-212. This is the company treatment candidate for chronic refractory gout using ImmTOR. With top-line data expected from the Phase 3 DISSOLVE program during the second half of next year, the market seems to have grown optimistic during the last few weeks.
SELB Stock Insider Buying
This week officers and directors filed a fresh round of Form 4s showing insider activity. CFO, Kevin Tan, and Directors Nishan DeSilva and Carrie Cox reported buying more than 25,000 shares in total at average prices ranging from $2.9456 to $3.0253.
Outlook Therapeutics (NASDAQ: OTLK)
Outlook Therapeutics is another one of the penny stocks with insider buying this month. Some of the more recent events from the company have placed a brighter spotlight on Outlook. In particular, the company’s ONS-5010 platform has become a point of interest.
Outlook just raised over $50 million to support its development and fund the company through its expected Biologics Application approval. ONS-5010 is Outlook’s ophthalmic formulation of bevacizumab to treat retinal diseases.
OTLK Stock Insider Buying
This week, management added to Outlook’s growing series of insider activity in December. Its CEO, COO, and CCO purchase more than 80,000 shares of OTLK stock at average prices ranging from $1.34 to $1.39.
Pedevco Corp. (NYSE: PED)
Thanks to lowered Omicron variant concerns, energy stocks are also heating up this week. Pedevco Corp. has followed the industry trend after energy prices jumped on Tuesday. The company focuses on M&A and the development of energy projects in the US. In the most recent update regarding third-quarter performance, Pedevco discussed strong growth in oil and gas production.
This included a boost in revenue of nearly 70% to $4.1 million compared to just $2.4 million during Q3 2020. In addition, expenses during the quarter also decreased compared to the previous year’s period. Looking ahead, Pedevco explained that it expects to complete two wells in its Chaveroo Field in the Permian Basin during this quarter, with the first production expected between December and January.
PED Stock Insider Buying
This week, company CEO Simon Kukes reported the purchase of 200,000 shares of PED stock. The purchase was made on December 6 at an average price of $1.06, bringing his direct share ownership total to more than 2.93 million. Kukes also owns more than 51 million shares through SK Energy LLC, according to the Form 4 filing reported this week.
Xos Inc. (NASDAQ: XOS)
Similar to Pedevco, Xos has focused on the energy industry in some ways. Specifically, the company develops fully electric battery mobility systems for commercial fleets. Thanks to growing interest in electric vehicle stocks, XOS has been one to watch over the last few weeks.
On Tuesday, Xos announced a strategic partnership with Yancey Bros. Co. to distribute its Xos vehicles in Georgia. Yancey is a Caterpillar dealer and will utilize its current infrastructure to build upon the adoption of Xos’ EVs.
XOS Stock Insider Buying
This week’s insider buying can be attributed to Xos Director George Mattson. Earlier in December, he purchased 50,000 shares of XOS stock at an average price of $3.40. This brought his total direct ownership holdings to more than 113,000 shares. Mattson also has over 3.9 million owned by NGAC GNM Feder LLC, which he shares control over.
Harbor Custom Development Inc. (NASDAQ: HCDI)
Shares of Harbor Custom Development have been in one of the longest uptrends we’ve seen this quarter. Since October 28, HCDI stock has only closed lower than it opened eight times. Also, during that period, the penny stock has managed to climb from under $1.70 to over $3.05. If it sounds familiar, it’s likely because it was on our list of penny stocks with high short interest. According to data from Fintel, HCDI’s float showed a short of 17.25% when we wrote the piece.
Harbor is a real estate development company involved in land development. Everything from acquisition and entitlements to construction, sales, and management are in Harbors wheelhouse. This month it announced plans to acquire a 997 unit master-planned community at the Washington, Canadian border for $14 million.
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“This project will help alleviate the residential inventory shortage in Blaine and Whatcom County, Washington, and Vancouver, British Columbia, and will significantly increase our position in these growing markets. The multiyear project is a major step forward for the Company as it allows us to meet our short and long term revenue objectives, offers multiple product types, and provides for the opportunity to monetize sections of the masterplan early in the development cycle,” explained CEO Sterling Griffin, in a December 3 PR.
HCDI Stock Insider Buying
Similar to XOS, the latest insider activity doesn’t come from management. One of Harbor’s Directors, Walter (“Wally”) Walker, purchased 9,700 shares of HCDI stock at an average price of $2.78 through an entity he has voting power over, Hana Road Partners L.P. This brought the entity’s holdings to more than 50,000 shares. Walker directly reported control of 35,000 shares on the latest Form 4 filing.
Penny Stocks To Buy According To Insiders
This list of penny stocks continues from our first five stocks to watch with insider buying. To read the full article and see which insiders were picking up shares, check out: 5 Penny Stocks To Buy In December According To Insiders. Below is the complete list including companies mentioned in this article:
- Party City Holdco (NYSE: PRTY)
- Spark Networks (NYSE: LOV)
- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX)
- Vyne Therapeutics (NASDAQ: VYNE)
- Allied Esports Entertainment Inc. (NASDAQ: AESE)
- Selecta Biosciences Inc. (NASDAQ: SELB)
- Outlook Therapeutics (NASDAQ: OTLK)
- Pedevco Corp. (NYSE: PED)
- Xos Inc. (NASDAQ: XOS)
- Harbor Custom Development Inc. (NASDAQ: HCDI)
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