Vivani Medical And 3 Other Stocks Under $2 Insiders Are Buying

The Dow Jones closed lower by over 70 points on Monday. 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.

Vivani Medical

• The Trade: Vivani Medical, Inc. VANI Director Gregg Williams acquired a total of 36,210 shares an average price of $1.02. To acquire these shares, it cost around $36,810.
• What’s Happening: Vivani Medical recently posted a wider-than-expected second-quarter loss.
• What Vivani Medical Does: Vivani Medical is a preclinical stage biopharmaceutical company.

MSP Recovery

• The Trade: MSP Recovery, Inc. LIFW Chief Legal Officer Frank C. Quesada acquired a total of 6,868,132 shares at an average price of $0.22. To acquire these shares, it cost around $1.5 million.
• What’s Happening: Net loss for the three months ended June 30, 2023, was $210.8 million.
• What MSP Recovery Does: MSP Recovery is a healthcare recoveries and data analytics company. The business model includes two principal lines of business: Claims Recovery and Chase to Pay Services.

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Oxbridge Re Holdings

• The Trade: Oxbridge Re Holdings Limited OXBR CEO, President Sanjay Madhu acquired a total of 50,000 shares at an average price of $1.20. The insider spent $59,860 to buy those shares.
• What’s Happening: Oxbridge Re Holdings recently posted a loss for the second quarter.
• What Oxbridge Re Holdings Does: Oxbridge Re Holdings is a specialty property and casualty reinsurer. It provides reinsurance solutions through its subsidiary.

Ocean Power Technologies

• The Trade: Ocean Power Technologies, Inc. OPTT Director Peter E Slaiby acquired a total of 25,000 shares at an average price of $0.39. The insider spent around $9,750.
• What’s Happening: Ocean Power Techs posted a wider first-quarter loss.
• What Ocean Power Technologies Does: Ocean Power Technologies provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets.

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