The Insider Scoop: Why Retractable Technologies and 3 Other Stocks Under $4 Are Attracting Insider Attention

The Dow Jones index closed lower by over 30 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.

Power Play: Power Solutions International

• The Trade: Power Solutions International, Inc. PSIX 10% owner Neil Gagnon acquired a total of 1,321 shares at an average price of $2.00. To acquire these shares, it cost around $2,642.
• What’s Happening: On March 14, Power Solutions International announced fourth quarter and full year 2023 financial results.
• What Power Solutions International Does: Power Solutions International Inc is a US-based company that manufactures, distributes, and services power systems running on nondiesel fuels, including natural gas, propane, and gasoline.

Security Spotlight: VerifyMe

• The Trade: VerifyMe, Inc. VRME Director Arthur B Laffer acquired a total of 11,095 shares at an average price of $1.37. To acquire these shares, it cost around $15,100.
• What’s Happening: On March 21, VerifyMe posted a profit for the fourth quarter.
• What VerifyMe Does: VerifyMe Inc is a US-based technology solutions company with a patent portfolio in authenticating products, people, and financial transactions.

Mining for Opportunities: PHX Minerals

• The Trade: PHX Minerals Inc. PHX Director Mark T Behrman acquired a total of 23,000 shares at an average price of $3.22. The insider spent around $74,047 to buy those shares. The company’s Principal Accounting Officer Chad True also bought 1,000 shares.
• What’s Happening: On March 12, PHX Minerals reported upbeat quarterly sales.
• What PHX Minerals Does: PHX Minerals Inc is reshaping its business focus towards perpetual mineral and natural gas ownership, away from traditional drilling operations.

Injection of Confidence: Retractable Technologies

• The Trade: Retractable Technologies, Inc. RVP President and CEO Thomas J Shaw acquired a total of 3,612 shares at an average price of $1.21. The insider spent around $4,368 to buy those shares.
• What’s Happening: On Nov. 14, Retractable Technologies reported an operational loss of $8.7 million for the first nine months of 2023.
• What Retractable Technologies Does: Retractable Technologies Inc specializes in designing, developing, manufacturing, and marketing safety syringes and other medical products to enhance healthcare safety standards.

 

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