Over $1M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying
Portfolio Pulse from Avi Kapoor
Insiders at four penny stock companies have recently made significant share purchases. Knighted Pastures LLC bought 163,534 shares of Allied Gaming & Entertainment Inc. (AGAE) for about $233,053. Gregg Reichman acquired 150,000 shares of Jones Soda Co. (JSDA) for $21,750. James F Lynch purchased 750,000 shares of Globalstar, Inc. (GSAT) for approximately $1.26 million. Robert Averick bought 14,000 shares of Amtech Systems, Inc. (ASYS) for around $54,600. These transactions may signal insider confidence in the companies' prospects.
December 21, 2023 | 11:29 am
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Knighted Pastures LLC purchased 163,534 shares of AGAE, indicating potential insider confidence despite a recent decline in Q3 sales.
The insider purchase by Knighted Pastures LLC could be seen as a positive signal to investors, suggesting a belief in the company's future performance despite the recent sales decline.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Director Robert Averick's acquisition of 14,000 shares of ASYS may reflect confidence in the company's future despite recent disappointing sales results and guidance.
Robert Averick's purchase could be interpreted as a contrarian move, showing a belief in the long-term value of the company even though recent performance has been underwhelming.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Director James F Lynch's purchase of 750,000 shares of GSAT for $1.26 million suggests strong insider belief in the company after reporting a 53% sales growth in Q3.
The substantial investment by James F Lynch, especially after a strong sales report, could be a strong indicator of the company's positive trajectory and may influence the stock positively.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Director Gregg Reichman acquired 150,000 shares of JSDA, after the company reported a narrower quarterly loss, which may be seen as a positive development.
The insider purchase by Gregg Reichman could indicate optimism about the company's recovery, as it follows a report of a narrower quarterly loss.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80