The Dow Jones index closed lower by around 400 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.
CalciMedica
- The Trade: CalciMedica, Inc. (NASDAQ:CALC) Chief Business Officer Eric W Roberts acquired a total of 4,000 shares an average price of $3.90. To acquire these shares, it cost around $15,600.
- What’s Happening: On March 28, CalciMedica posted a fourth-quarter loss of 23 cents per share.
- What CalciMedica Does: CalciMedica Inc is a clinical-stage biopharmaceutical company focused on developing therapies for life-threatening inflammatory diseases with high unmet need.
Tecogen
- The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 30,000 shares at at an average price of $0.70. To acquire these shares, it cost around $7,000.
- What’s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.
- What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products. It operates in three business segments, namely Products, Services, and Energy Production.
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RENN Fund
- The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 57 shares at an average price of $1.56. The insider spent around $89 to buy those shares.
- What’s Happening: RENN Fund shares gained 5% over the past month.
- What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed to provide return through capital appreciation and income by a long-term, value-oriented investment process that invests in a wide variety of financial instruments, including but not limited to, common stocks, fixed-income securities including convertible and non-convertible debt securities or loans, distressed debt, warrants, and preferred stock, exchange-traded funds and exchange-traded notes, and other instruments.
