The Dow Jones index closed slightly lower on Tuesday. When insiders, such as executives or major shareholders, purchase or sell shares of a company, it can offer valuable insights into their confidence or concern about the company’s future prospects. Investors and traders interested in penny stocks often pay close attention to such activities, considering them a factor in their investment decisions.
Here’s a look at a few recent notable insider transactions involving penny stocks:
CPS Technologies
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The Trade:
Charles Kellogg Griffith Jr., CFO of CPS Technologies Corporation (CPSH), purchased 1,000 shares at an average price of $1.43, for a total cost of around $1,430.*
What’s Happening:
On September 17, CPS Technologies announced that it received a Phase II award from the Department of Energy. This award could significantly impact the company’s future prospects.*
What CPS Technologies Does:
CPS Technologies Corp provides material solutions for various industries including transportation, automotive, energy, computing, telecommunications, aerospace, defense, and oil and gas.Flora Growth
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The Trade:
Clifford Starke, CEO of Flora Growth Corp. (FLGC), acquired 6,795 shares at an average price of $0.95, spending approximately $6,455.*
What’s Happening:
On August 13, Flora Growth reported its financial results for the second quarter ended June 30. While revenue declined from the previous year, the company’s overall performance could be a factor driving insider interest.*
What Flora Growth Does:
Flora Growth Corp is a multinational cannabis company that manufactures and distributes consumer packaged goods, cultivates and distributes medicinal cannabis, and distributes pharmaceutical products.BRC
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The Trade:
Engaged Capital Flagship Master Fund, LP, a major shareholder in BRC Inc. (BRCC), acquired a significant 684,542 shares at an average price of $3.17, spending a total of $2.17 million.*
What’s Happening:
On September 5, BRC announced a long-term sales and distribution agreement with Keurig Dr Pepper for a new line of ready-to-drink Black Rifle Energy beverages. This strategic partnership could boost the company’s revenue and market reach.*
