Insiders Buying Blend Labs And 3 Other Stocks Under $2
Portfolio Pulse from Lisa Levin
Insiders at four companies, Marchex, Lexicon Pharmaceuticals, Blend Labs, and ESS Tech, have recently purchased shares, signaling potential confidence in their respective companies. These transactions involve penny stocks, with share prices under $2. Notable insider buying occurred following various company updates, including narrower-than-expected quarterly losses and upbeat sales reports.
November 14, 2023 | 11:45 am
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POSITIVE IMPACT
Amir Jafari, Head of Finance and Admin. at Blend Labs, purchased 12,610 shares at $1.22 each. Blend Labs reported upbeat third-quarter sales.
The insider purchase combined with positive sales data could lead to increased investor confidence and a potential short-term uptick in the stock price.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
ESS Tech's Director Harry Quarls bought 46,814 shares at $1.10 each, and Director Teamey Kyle bought 1,000 shares. The company reported a narrower-than-expected loss for the third quarter.
Multiple directors buying shares is a strong positive indicator. The better-than-expected loss report may contribute to a bullish sentiment in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lexicon Pharmaceuticals' CEO Lonnel Coats acquired 10,000 shares at $1.01 each. The company posted an in-line loss for its third quarter.
CEO buying shares is a strong positive signal to the market. An in-line loss suggests stability, which may not significantly move the price but supports a steady outlook.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 80
POSITIVE IMPACT
Jonathan Brolin, a 10% owner of Marchex, purchased 26,975 shares at $1.40 each. The company recently reported a narrower-than-expected quarterly loss.
Insider purchases often indicate bullish sentiment from those with intimate knowledge of the company. The narrower loss could further support a positive outlook, potentially leading to a short-term price increase.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80