Insiders decided it was Peny stock to buy right now
Do you like to take 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 ingrained in the fabric of consumerism. Coincidentally, if you are a trader or investor, it is 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.
PennyStocks.com – PennyStocks
When it comes to making money with penny stocksHowever, the advantage can be much greater at a much faster rate than its front-line counterparts. For example, TSLA shares are up more than 40% so far this year. By any account of the mathematics of the stock market, this is a huge return. But take a look at one of the hottest penny stocks today: Siyata Mobile Inc. (NASDAQ: SYTA).
Following news of a $ 1.3 million buy order, the stock jumped from less than $ 3 on Monday to more than $ 6.70 a day later. Now, will that uptrend last? Time will tell, but the second thing in my opinion is that penny stocks can offer enormous potential in very short time frames. The “secret,” if you want to call it, is being able to handle high-risk trades and put a plan in place to take advantage of the volatility.
Penny Shares to Buy Based on Insider Information
It’s not always momentum that traders are looking for. Others will “follow the money” and look for big buyers to step in. In addition, they can search for internal activity. Generally speaking, when management or large shareholders buy or sell shares, that sends a message to the market and can influence sentiment. Today, we will see some of the initiates who recently decided that the names below were penny stocks to buy now. This is also a continuation of our article: 5 Cents Stocks to Buy in December According to Insiders.
Selecta Biosciences Inc. (NASDAQ: SELB)
Biotechnology is red hot today. If you look at the major ETFs in the industry, such as IBB and XBI, you will see what I mean. Both have enjoyed a strong reversal from Monday’s low, prompting the market to pay more attention to related names.
Selecta Biosciences is developing its ImmTOR platform for tolerogenic therapies. Your SEL-302 treatment candidate was a sticking point earlier this quarter. It is the company’s potential treatment for methylmalonic acidemia, a condition in which the body cannot break down certain proteins and fats. Last month, the FDA clinically suspended the company’s trial to obtain additional information related to chemistry, manufacturing, and controls related to treatment. Obviously, this caused concern, which is why SELB shares fell during November.
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However, this month, the latest Selecta update may have brought a bit of optimism to the market. The company and Swedish Orphan Biovitrum completed enrollment for the first of two clinical studies of a Phase 3 DISSOLVE program for SEL-212 from Selecta. This is the company’s treatment candidate for chronic refractory gout using ImmTOR. With the top-of-the-line data expected from the Phase 3 DISSOLVE program during the second half of next year, the market appears to have turned bullish over the past few weeks.
Purchase of SELB shares
This week, officers and directors submitted a new round of Forms 4 showing internal activity. Chief Financial Officer Kevin Tan and Directors Nishan DeSilva and Carrie Cox reported purchasing 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 internal purchases this month. Some of the latest company events have put a brighter spotlight on Outlook. In particular, the company’s ONS-5010 platform has become a point of interest.
Outlook just raised more than $ 50 million to support its development and fund the company through the approval of the expected biological application. ONS-5010 is Outlook’s ophthalmic formulation of bevacizumab for treating diseases of the retina.
Purchase of OTLK shares
This week, management joined the growing string of internal Outlook activities in December. Its CEO, COO, and CCO purchase more than 80,000 OTLK shares at average prices ranging from $ 1.34 to $ 1.39.
Pedevco Corp. (NYSE: PED)
Thanks to reduced concerns about Omicron variants, power stocks are also heating up this week. Pedevco Corp. has followed the industry trend after energy prices rose on Tuesday. The company focuses on mergers and acquisitions and the development of energy projects in the United States. In the most recent update on third quarter performance, Pedevco spoke about strong growth in oil and gas production.
This included an increase in revenue of nearly 70% to $ 4.1 million compared to just $ 2.4 million during the third quarter of 2020. Additionally, expenses during the quarter also decreased compared to the prior year period. Looking ahead, Pedevco explained that it expects to complete two wells at its Chaveroo Field in the Permian Basin during this quarter, with the first production expected between December and January.
Purchase of PED shares
This week, the CEO of the company, Simon Kukes, reported on the purchase of 200,000 shares of PED. The purchase was made on December 6 at an average price of $ 1.06, bringing its total direct participation in shares 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)
Like Pedevco, Xos has focused on the energy industry in some way. Specifically, the company develops fully electric battery mobility systems for commercial fleets. Thanks to the growing interest in EV stocks, XOS has been one of the ones to keep an eye on in recent 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 use its current infrastructure to leverage the adoption of Xos electric vehicles.
Buying XOS shares
This week’s insider buying can be attributed to Xos CEO George Mattson. In early December, he bought 50,000 XOS shares at an average price of $ 3.40. This brought its total directly owned stake to more than 113,000 shares. Mattson also owns more than $ 3.9 million owned by NGAC GNM Feder LLC, over which he shares control.
Harbor Custom Development Inc. (NASDAQ: HCDI)
Harbor Custom Development shares have been on one of the longest uptrends we’ve seen this quarter. Since October 28, HCDI shares have only closed below what they opened eight times. Also, during that period, the penny stock has managed to climb from less than $ 1.70 to more than $ 3.05. If that sounds familiar, it’s likely because it was on our list of high short interest penny stocks. According to Fintel data, the HCDI float showed a percentage of 17.25% when we wrote the article.
Harbor is a real estate development company involved in land development. Everything from acquisition and rights to construction, sales and administration is in the Harbors wheelhouse. This month it announced plans to acquire a 997-unit master planned community on the Washington, Canada border for $ 14 million.
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“This project will help alleviate residential inventory shortages in Blaine and Whatcom County, Washington and Vancouver, British Columbia, and will significantly increase our position in these growing markets. The multi-year project is a huge step forward for the Company, allowing us to achieve our short- and long-term revenue goals, offering multiple product types, and providing the opportunity to monetize sections of the master plan early in the development cycle. ”, Explained the CEO. Sterling Griffin, in a PR on December 3.
Purchase of HCDI shares
Like XOS, the latest internal activity is not coming from management. One of Harbor’s directors, Walter (“Wally”) Walker, purchased 9,700 shares of HCDI at an average price of $ 2.78 through an entity over which he has voting power, Hana Road Partners LP. This brought the entity’s holdings to more than 50,000 shares. Walker directly reported control of 35,000 shares in the latest Form 4 filing.
Penny Shares to Buy Based on Insider Information
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 buying stocks, check out: 5-cent Stocks to Buy in December According to Insiders. Below is the full list that includes the 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)