Why Execs Won’t Stop Talking About These 8 Penny Stocks
When an insider buys a penny stock or any stock for the matter, it is often a good sign for investors. This shows both institutional confidence in a company and belief in its short or long-term future. But it’s worth noting that just because an insider buys shares in a penny stock, does not mean that the company is worth it.
In tandem with this, investors should do their own research to see if a penny stock is as valuable as it looks. In 2021, traders love to see which companies are on insiders watchlists.
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With the internet available to all, finding this information out is easier than ever before. And, in addition to looking at insider buys, it has become extremely popular to find which penny stocks CEOs and other executives are buying. This has become a trend across social media such as Reddit, Twitter, TikTok and more. And because of this, it could be worth taking a closer look at.
This list is a continuation of ‘5 Top Penny Stocks Insiders Decided To Buy In June 2021’. And, all data is provided via filings from the SEC website. Considering this, let’s take a look at three more penny stocks that insiders and CEOs are buying right now.
3 More Penny Stocks That Insiders Are Buying
- Transocean Ltd. (NYSE: RIG)
- 9 Meters Biopharma Inc. (NASDAQ: NMTR)
- ServiceSource International Inc. (NASDAQ: SREV)
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a popular energy penny stock that has shot up by over 102% in the past six months. At just under $4.67 per share, we see a great deal of bullish sentiment surrounding both RIG stock and the energy industry right now. Only recently, it announced a massive contract, securing two drilling rig contracts totaling $116 million.
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This includes two of its harsh-environment semisubmersibles. The plan is to begin these drilling operations in 2022 with both rigs going at a day rate just shy of $300,000. Transocean is widely regarded as the largest offshore drilling contractor in the world. Because of this, many investors continue to show interest in it.
Insider Action for RIG Stock
One of the largest insider buyers of RIG stock right now is the CEO of Perestroika AS, which is an asset management and finance company based in Norway. The CEO, Mohn Frederik Wilhelm, bought millions in shares since June 17th. His latest buy was on June 28th according to a Form 4 Filing, bringing his total number of shares to just over 80.64 million. Wilhelm did this latest buy at a price of $4.53 per share, and with RIG stock over $4.65 as of midday on June 30th, we see why.
9 Meters Biopharma Inc. (NASDAQ: NMTR)
9 Meters Biopharma Inc. is a penny stock that we’ve covered numerous times in the past few months. Up by around 30% in the past six months, the company has a lot to offer investors. Only a day ago, it was announced that a 10% owner of 9 Meters, OrbiMed Israel GP sold roughly 17.15 million shares at around $1.21 per share. Despite this, the company announced a day earlier that it would be added to the Russell 2000 and 3000 indexes.
“The addition of 9 Meters to these Russell Indexes is indicative of both the perseverance and accomplishments our team has made in the last year as we strive to become the treatment leader in rare and unmet gastroenterology disorders.”CEO of 9 Meters, John Temperato
With biotech penny stocks heavily in focus right now, NMTR could be worth keeping an eye on.
Insider Action for NMTR Stock
As stated earlier, a 10% owner of NMTR stock filed several sales occurring on June 23rd, June 24th, and June 25th. These sales were for roughly 17 million shares at an average price of around $1.32 per share. Despite this large sale, the company still owns around 8.5 million shares, indicating some degree of confidence in the future of Nine Meters. While it is difficult to say why such a large sale would occur, this happens occasionally and is not usually cause for concern. However, it does illustrate just how important staying up to date with insider action is.
ServiceSource International Inc. (NASDAQ: SREV)
SREV is an outsourced market services provider working in the B2B digital sales market. It offers sales professionals and methods that can scale businesses across the B2B industry. The company states that its products help to drive billions of dollars of value in the companies it works with. On June 30th, it announced that it has expanded its Inside Sales program with a leader in the cloud communications industry.
“We are seeing more companies turn to outsourced inside sales solutions as they seek to gain access to the skilled resources, capabilities, and technical expertise necessary to scale effectively when growth opportunities present themselves.
We met and exceeded our client’s needs quickly using deep integration with their internal teams and processes, and build confidence to expand our engagement early in the relationship.”CEO of ServiceSource, Gary B. Moore
Considering its major role in the tech industry, SREV could be worth adding to your watchlist.
Insider Action for SREV Stock
In the most recent action for SREV stock, we have seen Edenbrook Capital LLC., an investment fund with roughly $292 million in assets, bring its holdings up to over 19.3 million shares. Edenbrook is a 10% owner of SREV stock and has purchased roughly 100,000 shares of ServiceSource since early May.
This is an encouraging sign as investment funds investing in a company can be great for investor sentiment. And, in the past month, shares of SREV stock have shot up by around 13.5%. While insider buying is not a be-all-end-all indicator, it is a factor to use in your strategy.
Which Penny Stocks Are You Watching?
Finding the best penny stocks to buy is all about having a strategy. While using insider activity as a method is great, it should only be one part of making a penny stocks watchlist.
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Considering that there is so much going on in the world, staying up to date with all the latest news and events will always be a major benefit. And with more movement occurring every day, which penny stocks are you watching right now?
To read about the rest of the stocks on this list, head to 5 Top Penny Stocks Insiders Decided To Buy In June 2021