Are you looking for penny stocks to buy right now? Thanks to a rebound in the market following the Ukraine invasion, investors are taking a more risk-on approach to trading. That means some of the cheaper stocks in the market are lighting up watch lists right now. So if you’re putting together yours right now, where should you start? Some will search for chart patterns and unusual activity. Meanwhile, another emerging trend is”‘following the money.”
What does this mean? Thanks to the Securities & Exchange Commission requirements, insiders and more prominent investors must report their purchases and sales to the public. Today we look at a handful of penny stocks that not only insiders have reported purchases in but also government officials.
Penny Stocks To Buy
- Eos Energy Enterprises Inc. (NASDAQ: EOSE)
- DarkPulse Inc. (OTC: DPLS)
- Skillz Inc. (NYSE: SKLZ)
Top Penny Stocks To Buy According To Insiders & Government Officials
There are a few things to remember when following the money. First, how are these insiders obtaining the shares? The fact is, even when insiders are gifted shares or have an employee incentive program to purchase stock, the price of their shares may be far less than the current retail market.
Furthermore, it would help to consider the trades concerning the person or firm making it. What I mean by this is that a $1million purchase may seem “large” on the surface to certain retail investors. But it may not be a meaningful position to the fund based on their entire portfolio. These are just a few things to keep in mind when looking for penny stocks to buy based on money flow.
Eos Energy Enterprises Inc. (NASDAQ: EOSE)
Shares of energy stocks have been red hot this quarter for multiple reasons. The most recent catalysts involve the Russia-Ukraine conflict and a shake-up in the oil and gas industry. Eos is on the other side of this coin. The company offers customers energy storage solutions using its sustainable zinc-based systems. Its Znyth zin battery was created to address the limitations of traditional lithium-ion batteries.
Thanks to the continued adoption of green and alternative energy, companies like Eos have capitalized. In its most recent quarter, the company reported significant revenue growth, quarter over quarter, to the tune of 332%. Furthermore, the company has also sped up commercial pipeline growth, which sits at more than $4 billion. Eos CEO Joe Mastrangelo also set his sites on a stronger 2022. In his quarterly update, Mastrangelo explained that the company would focus on investing in its manufacturing capacity and improving technology delivered to Eos customers.
Who’s Buying EOSE Stock?
This month, Eos’ CEO, Chief Accounting Officer, General Counsel, CFO, and one of its Directors purchased shares of EOSE stock. The largest purchase was made by CFO Randall Gonzales, who picked up 43,500 shares at an average price of $2.745.
DarkPulse Inc. (OTC: DPLS)
We typically don’t discuss many OTC penny stocks as most lack general market liquidity. But when government officials are involved, it may be worth noting. What’s more, the timing of the market’s focus on surveillance and security stocks may have also helped. You’ll notice on the DPLS stock chart that the penny stock has climbed during the period of the Ukraine invasion.
DarkPulse provides monitoring systems for structural monitoring of critical infrastructure. In its words, “as smart cities become a reality, DarkPulse is the foundational technology to empower global system dynamics.” Some of the more recent attention may have also focused on the company’s pending IPO spin-off later this year. DarkPulse’s subsidiary, Optilan, specializes in global communications and security. From critical network infrastructure to traditional telecommunications, the company provides services for various companies. There’s a plan in the works to see an Optilan spin-off into an IPO on the New York Stock Exchange.
Who’s Buying DPLS Stock?
When it comes to government officials buying stock in companies, Nancy Pelosi comes to mind. According to some traders, there are actually “Nancy Pelosi stocks” to watch. But DPLS isn’t one of them. House Republican George (Mike) Kelly purchased shares of DPLS stock back in December. I know that was months ago, but certain filing types have a window of time before they need to be filed, which can make it hard to track “real-time” trading. Kelly’s filing shows his purchase of $1,000-$15,000 worth of DPLS stock on December 20, 2021.
Skillz Inc. (NYSE: SKLZ)
Shares of Skillz Inc. have been in a slump for over a year at this point. The penny stock is far from its 2021 levels that saw shares hover around $46. The shortcomings from continued pandemic concerns, rate hikes, and, now, geopolitical unrest haven’t helped things either.
The mobile gaming platform company also reported lackluster earnings for the fourth quarter and full year, 2021. But as highlighted by CEO Andrew Paradise, last year was somewhat of a year for growing pains needed to set it up for future potential. In his update last month, Paradise explained, “Last year, we made substantial investments in our infrastructure necessary to build the competition layer of the Internet…We are now entering a new phase, where we will shift focus to profitable growth through improving marketing efficiency and deploying fewer but more impactful product features.”
Who’s Buying SKLZ Stock Right Now?
Even with the current state of the market for SKLZ stock, insiders are still hopeful. Recent filings show that Director Harry Sloan recently picked up 94,880 shares at an average price of $3.0957. This brought his SKLZ stock position to more than 191,000 shares. However, with so much pressure, it’s tough to say whether SKLZ stock can actually rebound in the near term.
Are Penny Stocks Worth It?
There are several names on this list of penny stocks that insiders & government officials thought were worth buying. How that factors into your trading plan is based on your approach to trading. Are penny stocks worth it? If you can handle volatility and know how to put together a proper strategy, then there’s no reason that penny stocks aren’t worth the time to research.
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