The Dow Jones index closed lower by over 30 points on Tuesday. 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.
Power Solutions International
- The Trade: Power Solutions International, Inc. (OTC:PSIX) 10% owner Neil Gagnon acquired a total of 1,321 shares an average price of $2.00. To acquire these shares, it cost around $2,642.
- What’s Happening: On March 14, Power Solutions International announced fourth quarter and full year 2023 financial results.
- What Power Solutions International Does: Power Solutions International Inc is an America-based company that manufactures, distributes, and services power systems that primarily run on nondiesel fuels, including natural gas, propane, and gasoline.
VerifyMe
- The Trade: VerifyMe, Inc. (NASDAQ:VRME) Director Arthur B Laffer acquired a total of 11,095 shares at at an average price of $1.37. To acquire these shares, it cost around $15,100.
- What’s Happening: On March 21, VerifyMe posted a profit for the fourth quarter.
- What VerifyMe Does: VerifyMe Inc is a technology solutions company based in the United States. It markets a broad patent portfolio that includes patents in the field of authenticating products, people, and financial transactions.
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PHX Minerals
- The Trade: PHX Minerals Inc. (NYSE:PHX) Director Mark T Behrman acquired a total of 23,000 shares at an average price of $3.22. The insider spent around $74,047 to buy those shares. The company’s Principal Accounting Officer Chad True also bought 1,000 shares.
- What’s Happening: On March 12, PHX Minerals posted upbeat quarterly sales.
- What PHX Minerals Does: PHX Minerals Inc is an oil and natural gas mineral company that has employed a plan to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
Retractable Technologies
- The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 3,612 shares at an average price of $1.21. The insider spent around $4,368 to buy those shares.
- What’s Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.
- What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.
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