The Dow Jones closed lower by over 300 points on Wednesday. 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.
- The Trade: Tecogen Inc. TGEN Director Earl R Lewis acquired a total of 25,000 shares an average price of $0.91. To acquire these shares, it cost around $22,750.
- What’s Happening: Tecogen announced the signing of a $1.5 million Credit Agreement.
- What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products.
- The Trade: Modular Medical, Inc. MODD JEB Partners, L.P. acquired a total of 33,000 shares at an average price of $1.08. To acquire these shares, it cost around $35,523.
- What’s Happening: Modular Medical recently announced a partnership with Phillips-Medisize to expand insulin delivery alternatives.
- What Modular Medical Does: Modular Medical Inc is a development stage medical device company which focuses on the design, development, and commercialization of an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace.
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Lion Copper and Gold
- The Trade: Lion Copper and Gold Corp. LCGMF 10% owner Christine Alford acquired a total of 150,000 shares at an average price of $0.06. The insider spent $8,700 to buy those shares.
- What’s Happening: The company’s stock gained 17% year-to-date.
- What Lion Copper and Gold Does: Lion Copper and Gold Corp is a Canadian mineral exploration company that is engaged in the acquisition, exploration, and development of copper projects in Nevada, Alaska, and Montana in the United States and British Columbia, Canada.
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