Executives Buy Over $2.2M Of 3 Penny Stocks

The Nasdaq Composite jumped by 1.2% on Thursday. Investors, meanwhile, focused on some notable insider trades.

When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Team

• The Trade: Team, Inc. NYSE:TISI Director Evan S Lederman acquired a total of 13,500 shares at an average price of $1.62. To acquire these shares, it cost $21.85 thousand.
• What's Happening: Team recently said Amerino Gatti will depart from his positions as Chairman and CEO.
• What Team Does: Team Inc is a provider of specialty industrial services, including inspection, engineering assessment and mechanical repair and remediation required in maintaining high temperature and high-pressure piping systems and vessels that are utilized in the refining, petrochemical, and others.

Galecto

• The Trade: Galecto, Inc. NASDAQ:GLTO Chief Medical Officer Bertil Lindmark acquired a total of 14,604 shares at an average price of $2.16. The insider spent around $31.54 thousand to buy those shares.
• What's Happening: Galecto, last month, posted a FY21 loss of $2.05 per share.
• What Galecto Does: Galecto Inc is a clinical-stage biotechnology company developing therapeutics designed to target the biological processes that lie at the heart of fibrosis and impact a broad range of fibrotic and related diseases, including cancer.

Also check this: Alphabet And 3 Other Stocks Sold By Insiders

Don't forget to check out our premarket coverage here .

MiX Telematics

• The Trade: MiX Telematics Limited NYSE:MIXT Director Ian Jacobs acquired a total of 4,635,100 shares at an average price of $0.48. To acquire these shares, it cost around $2.22 million.
• What's Happening: MiX Telematics recently reported expansion of 2k new subscriptions to its integrated fleet mgmt. technology for an existing Brazilian bus and coach customer.
• What MiX Telematics Does: MiX Telematics Ltd offers fleet and mobile asset management solutions delivered as Software-as-a-Service to customers across the globe.