Comstock And 2 Other Stocks Under $2 Insiders Are Buying

Author: Avi Kapoor | May 29, 2024 08:34am

The Dow Jones index closed lower by over 200 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.

Comstock

The Trade: Comstock Inc. (NYSE:LODE) Chief Engineering Officer Rahul Bobbili bought a total of 25,000 shares at an average price of $0.25. To acquire these shares, it cost around $6,350.
What's Happening: Comstock, on May 17, announced a private placement of 1.25 million restricted shares at $0.40/share to the Chairman & CEO.
What Comstock Does: Comstock Inc is engaged in technologies that efficiently use wasted and under-utilized natural resources to produce renewable energy and other products that contribute to balancing uses and emissions of carbon and enhance mineral and material discoveries.

Veru

The Trade: Veru Inc. (NASDAQ:VERU) Director, Chief Corporate Officer Harry Fisch acquired a total of 4,000 shares at an average price of $1.25. To acquire these shares, it cost around $5,000..
What's Happening: On May 8, Veru posted a wider-than-expected quarterly loss.
What Veru Does: Veru Inc is a biopharmaceutical company with a drug development program for the treatment of metabolic diseases, oncology and acute respiratory distress syndrome (ARDS).

Tecogen

The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 11,935 shares at an average price of $0.80. The insider spent around $9,516 to buy those shares.
What's Happening: On May 8, Tecogen reported revenues of $6.2 million and net loss of $1.1 million for the quarter ended March 31.
What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products.

Now Read This: Advance Auto Parts, Ooma And 3 Stocks To Watch Heading Into Wednesday

Posted In: LODE TGEN VERU