The Dow Jones index closed higher by more than 200 points on Thursday. Insiders purchasing or selling shares indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this when making investment decisions.

Below is a look at recent notable insider transactions for penny stocks.

Savvy Buys at PaySign

• The Trade: PaySign, Inc. PAYS 10% owner Topline Capital Partners LP acquired a total of 107,157 shares an average price of $2.79. To acquire these shares, it cost around $299,345.
• Provoking Momentum: PaySign reported better-than-expected quarterly sales in November.
• PaySign’s Identity: PaySign Inc is a provider of prepaid card programs, patient affordability offerings, digital banking services and integrated payment processing designed for various entities.

Retractable Technologies Makes a Stand

• The Trade: Retractable Technologies, Inc. RVP CEO and President Thomas J Shaw acquired a total of 5,539 shares at at an average price of $1.22. To acquire these shares, it cost around $6,776.
• Defining Moment: On Nov. 14, Retractable Technologies reported a loss from operations of $8.7 million for the first nine months of 2023.
• Company’s Focus: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

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Tecogen’s Tactical Move

• The Trade: Tecogen Inc. TGEN Director Earl R Lewis acquired a total of 9,152 shares at an average price of $0.78. The insider spent around $7,139 to buy those shares.
• Defining Achievement: Tecogen announced an order for a 400-ton Tecochill unit from a large educational institution in Connecticut in November, facilitated by a long-standing Manufacturers’ Representative for Tecogen.
• Engineered Success: Tecogen Inc designs, manufactures, and maintains high efficiency, ultra-clean cogeneration products. It operates in three business segments: Products, Services, and Energy Production.

Vivani Medical’s Vitality

• The Trade: Vivani Medical, Inc. VANI Director Gregg Williams acquired a total of 834 shares at an average price of $1.01. The insider spent around $842.34 to buy those shares.
• Current Scenario: Vivani Medical posted a wider-than-expected quarterly loss in November.
• Medical Marvels: 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 medicines to treat chronic diseases.

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