HomeMarket NewsMicro Cap StocksInsider Buying Signals Confidence in Byrna Technologies and 2 Other Penny Stocks

Insider Buying Signals Confidence in Byrna Technologies and 2 Other Penny Stocks

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Despite the Dow Jones closing lower by around 190 points on Monday, insider buying activity remains an important factor for investors and traders to consider. When insiders purchase shares, it reflects their confidence in the company’s prospects, which can have a significant impact on the overall investment or trading decision, especially in the volatile world of penny stocks.

Let’s take a closer look at three recent notable insider transactions for penny stocks:

Byrna Technologies

  • The Trade: Byrna Technologies Inc. (NASDAQ: BYRN) CFO David North acquired a total of 1,200 shares at an average price of $4.00. The purchase of these shares amounted to approximately $4,800.
  • What’s Happening: Byrna Technologies reported a loss for the third quarter.
  • What Byrna Technologies Does: Byrna Technologies Inc. is a designer, manufacturer, retailer, and distributor of non-lethal force technological solutions for security situations.

BrightRock Gold

  • The Trade: BrightRock Gold Corp. (OTC: BRGC) Chairman/CEO Mahmood Shahsavar Jamshidi acquired a total of 32,000 shares at an average price of $0.54. The purchase of these shares amounted to around $17,280.
  • What’s Happening: The company’s stock has seen a 72% jump over the past six months.
  • What BrightRock Gold Does: BrightRock Gold Corp. operates in the gold and silver industry in Ghana.

Butler National

  • The Trade: Butler National Corporation (OTC: BUKS) 10% owner Joseph Patrick Daly acquired a total of 55,000 shares at an average price of $0.64. The insider spent $35,050 on these shares. The company’s Vice President Joe A. Peters also bought 15,000 shares.
  • What’s Happening: Butler National disclosed the acquisition of KC Machine, a recognized provider of high-quality precision machine parts.
  • What Butler National Does: Butler National Corp. is engaged in the design, manufacturing, installation, repair, modification, and distribution of a wide range of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

In conclusion, monitoring insider buying activity can provide valuable insights into the confidence and prospects of companies. The recent insider transactions in Byrna Technologies, BrightRock Gold, and Butler National indicate a level of optimism and belief in the potential growth of these penny stocks.

If you’re interested in investing in penny stocks, keep an eye on these insider transactions as they may influence your decision-making process.

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