Retractable Technologies And 2 Other Stocks Under $5 Insiders Are Buying

Author: Avi Kapoor | February 14, 2024 07:52am

The Dow Jones index closed lower by more than 500 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.

Retractable Technologies

The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 5,410 shares an average price of $1.24. To acquire these shares, it cost around $6,704.
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.
What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Nanophase Technologies

The Trade: Nanophase Technologies Corporation (OTC:NANX) Director R Janet Whitmore acquired a total of 182,433 shares at at an average price of $0.40. To acquire these shares, it cost around $72,973. The company’s President and CEO also bought 7,008 shares.
What’s Happening: Nanophase recently announced rights offering to stockholders.
What Nanophase Technologies Does: Nanophase Technologies Corp is a U.S based company engaged in the production of engineered nanomaterial solutions and larger, sub-micron, materials such as personal care sunscreens, architectural coatings, industrial coating applications, and abrasion-resistant additives, plastics additives, medical diagnostics, energy.

Check This Out: Top 3 Tech Stocks Which Could Rescue Your Portfolio This Quarter

Power Solutions International

The Trade: Power Solutions International, Inc. (NASDAQ:PSIX) 10% owner Neil Gagnon acquired a total of 875 shares at an average price of $1.99. The insider spent around $1,743 to buy those shares.
What’s Happening: Power Solutions International, during December, extends its $50 million shareholder loan agreement with Weichai America.
What Power Solutions International Does: Power Solutions International Inc is an America-based company that manufactures, distributes, and services power systems that primarily run on nondiesel fuels, including natural gas, propane, and gasoline.

Don’t forget to check out our premarket coverage here

Posted In: NANX PSIX RVP