Over $1M Bet On This Tech Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying
Portfolio Pulse from Lisa Levin
Insiders at Emeren Group, Grove Collaborative Holdings, and Processa Pharmaceuticals have recently made significant purchases of their respective companies' shares. This indicates their confidence in the companies' prospects and can be a factor for investors and traders interested in penny stocks.
June 13, 2023 | 11:34 am
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POSITIVE IMPACT
Grove Collaborative Holdings' director acquired 60,242 shares at an average price of $1.72, totaling around $103.56 thousand. The company recently reported a 1-for-5 reverse stock split.
The director's purchase of shares indicates confidence in the company's prospects. The recent 1-for-5 reverse stock split may also signal a potential positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Processa Pharmaceuticals' President and CEO acquired 40,000 shares at an average price of $0.80, totaling around $32 thousand. The company's stock dipped 62% over the past six months.
The President and CEO's purchase of shares indicates confidence in the company's prospects despite the recent dip in stock price. This could signal a potential turnaround for the stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Emeren Group's CFO acquired 303,854 shares at an average price of $3.54, totaling around $1.08 million. The company recently reported the sale of 29 MW of China Rooftop DG Projects.
The CFO's significant investment in the company indicates confidence in its prospects. The recent sale of 29 MW of China Rooftop DG Projects also suggests potential growth for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100