Insiders Call These Penny Stocks To Buy; Do You Agree?
Are you looking for penny stocks to buy today? Instead of searching for news headlines, maybe it’s time to dove deep into corporate filings. With so many new traders in the stock market today, research strategies have changed a bit.
Most novices will head over to Reddit or Twitter and find the popular stocks of the day and try to catch lightning in a bottle. They may also find news or trade stocks based on themes like meme stocks, short squeeze penny stocks, or the latest excitement in metaverse stocks. But there’s one thing that seems to get overlooked, which is SEC filings.
If you’re new to trading, these filings can be gold, especially when it comes to company updates. Whether it’s an 8-K, 10-Q, 10-K, or something else, the fine details are revealed in these statements where only broad strokes are covered in an accompanying release.
Filings are also a great place to “follow the money,” and I’ll explain what I mean. Other than getting the dirty details on the latest company deals, different filing types like Form 4s will reveal insiders and affiliates placing trades in company stock.
Penny Stocks To Buy Now According To Insiders
Not only that, but these revealed when traders were made, how many shares were purchased or sold, and the average price the trades were made. Want to know how much money Elon Musk made from selling Tesla stock this week? Just go to the TSLA stock filings page, and you can see for yourself.
So, if you’re ever wondering how “that account” on TikTok seems to always know about insiders, it’s not a huge secret; they just took a little time to dig deeper into company filings. Today we’ll do exactly that with five penny stocks investors are watching right now.
Read more: 3 Tech Penny Stocks to Watch At the End of November 2021
1. Stryve Foods Inc. (NASDAQ:SNAX)
If you’re like most who use social media, you probably see plenty of advertising. You might’ve even seen a video ad for something close to beef jerky that isn’t necessarily beef jerky. Stryve Foods Inc. (NASDAQ:SNAX) leverages the “healthy snack” craze providing unique products, including its air-dried meat snack, biltong.
Recent SNAX Stock News
Like most companies, Stryve’s most recent update was its earnings report for Q3. While EPS badly missed estimates, the company managed to beat sales expectations. Stryve reported $9.10 million for the quarter compared to the $8.61 million analysts anticipated. The biggest driver projected to help the company gain some footing is its deal with Costco (NASDAQ:COST). Stryve’s set to expand its partnerships with the wholesale warehouse company in addition to a partnership with Walmart (NYSE:WMT).
SNAX Stock Insider Trading
November was an active month for insider activity in SNAX stock. This week, Directors Gregory Christenson and Ted Casey joined CFO Alex Hawkins and CEO Joe Oblas in reporting recent purchases. In total, more than 60,000 shares were purchased between average prices of $4.22 and $4.60 from November 18 through November 23.
2. Spark Networks (NYSE:LOV)
Another one of the companies gaining ground after insider trading is Spark Networks (NYSE:LOV). The company offers a social dating platform. Unlike other dating sites and apps, Spark targets the 40+ demographic as well as faith-based community. Its brands include some you may (or may not have) heard of Zoosk, Christian Mingle, Silver Singles, Elite Singles, and Jdate.
Recent LOV Stock News
Spark reported Q3 earnings and gave full-year guidance earlier this month. Revenue was lower but beat estimates while net loss widened compared to Q3 of last year. However, the company grew subscribers in 4 of its top five brands for the fifth consecutive quarter.
“We are reiterating our revised financial guidance for the full year 2021, as we expect to see a sequential improvement in total revenue in the fourth quarter…During the quarter, we continued to focus on improving our balance sheet by paying down approximately $3 million in debt. Year to date, we have paid down over $14 million in total debt, and we continue to review expenses company-wide with an aim at becoming more efficient in 2022.” – David Clark, Chief Financial Officer of Spark Networks.
Read more: Best Penny Stocks To Buy Now? 5 To Watch Before Next Week
LOV may also be a new name to watch if you’ve looked into the world of metaverse stocks. The company explained that it would launch a virtual dating travel experience for its Zoosk brand. According to Spark, subscribers can go on interactive, virtual dates in Athens, Naples, and other renowned, global destinations. More details will be something to follow.
LOV Stock Insider Trading
This week, a 10% owner in LOV stock, Osmium Partners, added to its already significant position. The latest Form 4 shows the firm picked up more than 1.65 million shares at average prices between $2.50 and $2.69 from November 19 to November 23.
3. Paltalk (NASDAQ:PALT)
Earlier this year, Paltalk (NASDAQ:PALT) was one of the more actively discussed stocks in the retail trading community. A focus on alternative social media and communications apps helped boost speculative momentum in PALT stock. The company offers software to power multimedia social applications, including a product portfolio made of Paltalk, Vumber, Tinychat, and Camfrog.
Recent PALT Stock News
Earlier this month, Paltalk launched a new message board feature to its Paltalk platform. Dubbed Paltalk Feed, users can comment, add video and photo media, and contribute to conversations based on shared interests. The goal of this new launch is to increase user engagement across the platform.
PALT Stock Insider Trading
This month, both CEO Jason Katz and Director Yoram Abada purchased shares of PALT stock. Totaling roughly 16,000 between them, the two bought shares between average prices of $3.35 and $3.88.
4. Talkspace Inc. (NASDAQ:TALK)
Digital healthcare company Talkspace Inc. (NASDAQ:TALK) joins this list of penny stocks following a tumultuous few weeks of market activity. Shares of TALK stock plummeted on November 16 thanks to mixed earnings and reports of a CEO transition plan, which were announced after the closing bell on November 15. Following the news, TALK stock dropped from over $3 to under $2.25 but has since made strides to reclaim some of what was lost earlier this month.
Recent TALK Stock News
In connection with an internal review, Talkspace announced that President and COO Mark Hirschhorn resigned effective immediately this week. While no further details were released, the company’s November 22 PR stated that “this followed an internal review of Mr. Hirschhorn’s conduct in connection with a company offsite that took place late last week.”
TALK Stock Insider Trading
So is this the end of the road for the virtual psychiatric healthcare company? If insider activity is to be believed, some still find it worth a shot. Talkspace director Douglas Braunstein recently filed a Form 4 showing the purchase of 1 million shares of TALK stock. The average purchase price was $2.08, done indirectly by Hudson Executive Capital LP. Braunstein is the managing partner of Hudson Executive.
5. GoHealth Inc. (NASDAQ:GOCO)
Believe it or not, insurance stocks have become a quiet center of focus for some traders this year. Earlier this year, the popular YouTuber “Meet Kevin” was most recently notable for his bullish stance on Hippo Holdings (NYSE:HIPO). This is another insurance stock that gained popularity in 2021. While the broad segment of smaller insurance stocks hasn’t faired well, that is no brick wall for certain investors; Meet Kevin included.
GoHealth (NASDAQ:GOCO) offers a health insurance marketplace and Medicare-focused digital health platform. The company’s suite of tech and data science combined with industry know-how is used by customers to match healthcare policies and carriers.
Recent GOCO Stock News
There haven’t been any significant headlines from GoHealth in the last few days. Besides a price target decrease from Credit Suisse, GoHealth announced that it was named a Top Place to Work for 3 of its offices. According to the company, more than 60% of employees from Chicago, Charlotte, and Salt Lake City offices participated in the survey.
GOCO Stock Insider Trading
This week, numerous Form 4s were filed by insiders and affiliates. The insider purchase was related to trades by NVX Holdings. Both CEO Clinton Jones and CSO Brandon Cruz founded the company and filed the forms connected with the trade.
Are You Following Penny Stocks With Insider Trades?
Insider trading activity can be an exciting thing to follow. While it doesn’t guarantee anything will happen to a stock’s price, the act itself does tend to weigh on sentiment. Whether buying or selling, understanding where insiders stand can become important, especially for those looking for more fundamental strategies to deploy.
