The Dow Jones index closed lower by more than 60 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.
Retractable Technologies
- The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 21,687 shares an average price of $1.28. To acquire these shares, it cost around $27,768.
- 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.
Citizens
- The Trade: Citizens, Inc. (NYSE:CIA) President and CEO Gerald Shields acquired a total of 29,182 shares at at an average price of $3.00. To acquire these shares, it cost around $87,546.
- What's Happening: The company said total revenues rose to $59.4 million in the third quarter from $56.2 million in the year-ago period.
- What Citizens Does: Citizens Inc is an insurance holding company serving the life insurance needs of individuals in the United States.
Beasley Broadcast Group
- The Trade: Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Chief Operating Officer Brian E Beasley acquired a total of 1,200 shares at an average price of $0.85. The insider spent around $1,020 to buy those shares.
- What's Happening: Beasley Broadcast posted downbeat fourth-quarter sales.
- What Beasley Broadcast Group Does: Beasley Broadcast Group Inc is a multi-platform media company, whose primary business is operating radio stations throughout the United States.
Rezolute
- The Trade: Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans acquired a total of 50,900 shares at an average price of $1.35. The insider spent around $66,741 to buy those shares.
- What's Happening: Rezolute posted a narrower-than-expected quarterly loss.
- What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.
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