Over $1M Bet On This Tech Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Avi Kapoor | January 24, 2024 10:02am

The Dow Jones index closed lower by around 100 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.

NextNav

• The Trade: NextNav Inc. (NASDAQ:NN) 10% owner Joseph D Samberg acquired a total of 300,000 shares an average price of $3.91. To acquire these shares, it cost around $1.17 million.
• What’s Happening: NextNav, during November, announced the appointment of Mariam Sorond, a veteran industry leader, as NextNav's new Chief Executive Officer.
• What NextNav Does: NextNav Inc provides GPS service. The company NextNav TerraPoiNT system keeps critical infrastructure resilient with reliable Position, Navigation and Timing services in the absence of GPS.

Sigma Additive Solutions

• The Trade: Sigma Additive Solutions, Inc. (NASDAQ:SASI) CEO William Kerby acquired a total of 4,000 shares at at an average price of $3.50. To acquire these shares, it cost around 14,000.
• What’s Happening: Sigma Additive Solutions recently completed its acquisition of NextTrip Holdings through a share exchange.
• What Sigma Additive Solutions Does: Sigma Additive Solutions Inc is a leading provider of in-process quality assurance (IPQA) software to the additive manufacturing industry.

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Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 5,546 shares at an average price of $1.22. The insider spent around $6,766 to buy those shares.
• 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.

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Posted In: NN RVP SASI