The Dow Jones index closed lower by over 200 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.
Vivani Medical
- The Trade: Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams acquired a total of 13,067 shares an average price of $1.01. To acquire these shares, it cost around $13,198.
- What's Happening: Vivani Medical, during November, posted a wider-than-expected quarterly loss.
- What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.
Magellan Gold
- The Trade: Magellan Gold Corporation (OTC:MAGE) 10% owner Gold Express Mines Inc acquired a total of 1,250,000 shares at at an average price of $0.14. To acquire these shares, it cost around $140,000.
- What's Happening: Magellan Gold entered into an agreement with Gold Express Mines, Inc. for the purchase of three copper-focused properties.
- What Magellan Gold Does: Magellan Gold Corp is focused on the exploration and development of precious metals in North America.
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OPKO Health
- The Trade: OPKO Health, Inc. (NASDAQ:OPK) 10% owner Frost Gamma Investments Trust acquired a total of 1,000,000 shares at an average price of $0.95. The insider spent around $954,300 to buy those shares.
- What's Happening: OPKO Health recently priced private offering of $200 million convertible senior notes due 2029.
- What OPKO Health Does: OPKO Health Inc is a diversified biotechnology company that operates pharmaceutical and diagnostic development programs.
Tecogen
- The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 100,000 shares at an average price of $0.73. The insider spent around $73,460 to buy those shares.
- What's Happening: Tecogen, during November, announced an order for a 400-ton Tecochill unit from a large educational institution in Connecticut, facilitated by Clover Corp., a long-standing Manufacturers' Representative for Tecogen.
- What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products.
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