The Dow Jones index closed lower by more than 500 points on Thursday. 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. ( RVP ) President and CEO Thomas J Shaw bought a total of 12,710 shares at an average price of $1.13. To acquire these shares, it cost around $14,352.

What's Happening: On May 15, Retractable Technologies ( RVP ) posted a decline in quarterly sales results.

What Retractable Technologies Does: Retractable Technologies Inc ( RVP ) designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Pineapple Financial

The Trade: Pineapple Financial Inc. ( PAPL ) Director, CEO Shubha Dasgupta acquired a total of 2,000 shares at an average price of $0.97. To acquire these shares, it cost around $1,938.

What's Happening: On July 16, Pineapple Financial ( PAPL ) posted a third-quarter loss of 12 cents per share.

What Pineapple Financial Does: Pineapple Financial Inc ( PAPL ) is a Canada-based mortgage technology and brokerage company that provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers.

Cyanotech

The Trade: Cyanotech Corporation ( CYAN ) Director Michael A / Davis acquired a total of 10,000 shares at an average price of $0.58. The insider spent around $5,800 to buy those shares.

What's Happening: On June 26, Cyanotech ( CYAN ) reported net sales of $23,071,000 for fiscal 2024 compared to $23,178,000 in fiscal 2023.

What Cyanotech Does: Cyanotech Corp ( CYAN ) is engaged in the production of natural products derived from microalgae for the nutritional supplements market.

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