The Dow Jones index closed higher by around 10 points on Thursday. Insiders purchasing or selling shares indicates their confidence or concern around the company’s prospects. For investors and traders interested in penny stocks, this factor could be crucial in their overall investment or trading decision making.

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

Cadiz

• The Deal: Cadiz Inc. CDZI CEO Susan P Kennedy acquired a total of 6,762 shares at an average price of $2.81, amounting to approximately $18,999.
• What’s Happening: Cadiz recently signed an agreement with San Bernardino County and water project agencies to reserve water supply for desert communities during November.
• Business of Cadiz: Cadiz Inc is a land and water resource development company in California, primarily focused on acquiring and developing land with water resources for various uses, including groundwater supply, groundwater storage, and agriculture.

Lument Finance Trust

• The Deal: Lument Finance Trust, Inc. LFT President James Henson acquired a total of 15,000 shares at an average price of $2.37, amounting to around $35,572.
• What’s Happening: Lument Finance Trust recently reported its third-quarter distributable earnings of $6.0 million, or 11 cents per share during November.
• Business of Lument Finance Trust: Lument Finance Trust Inc operates as a real estate investment trust, engaged in investment, financing, and management of a portfolio of commercial real estate debt investments.

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Retractable Technologies

• The Deal: Retractable Technologies, Inc. RVP President and CEO Thomas J Shaw acquired a total of 5,522 shares at an average price of $1.09, spending around $6,019.
• 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.
• Business of Retractable Technologies: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Sharps Technology

• The Deal: Sharps Technology, Inc. STSS Director Timothy J. Ruemler acquired a total of 9,466 shares at an average price of $0.40, amounting to around $3,786.
• What’s Happening: The company’s stock fell approximately 17% over the past month.
• Business of Sharps Technology: Sharps Technology Inc is a medical device company offering syringes and other safety products.

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