PaySign And 3 Other Stocks Under $3 Insiders Are Buying

The Dow Jones index closed higher by more than 200 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.

PaySign

• The Trade: PaySign, Inc. PAYS 10% owner Topline Capital Partners LP acquired a total of 107,157 shares an average price of $2.79. To acquire these shares, it cost around $299,345.
• What’s Happening: PaySign, during November, posted better-than-expected quarterly sales.
• What PaySign Does: PaySign Inc is a provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing designed for businesses, consumers and government institutions.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. RVP CEO and President Thomas J Shaw acquired a total of 5,539 shares at at an average price of $1.22. To acquire these shares, it cost around $6,776.
• 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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Tecogen

• The Trade: Tecogen Inc. TGEN Director Earl R Lewis acquired a total of 9,152 shares at an average price of $0.78. The insider spent around $7,139 to buy those shares.
• What’s Happening: Tecogen, during November, announced an order for a 400-ton Tecochill unit from a large educational institution in Connecticut, facilitated by Clover Corp., a long-standing Manufacturers’ Representative for Tecogen.
• What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products. It operates in three business segments, namely Products, Services and Energy Production.

Vivani Medical

• The Trade: Vivani Medical, Inc. VANI Director Gregg Williams acquired a total of 834 shares at an average price of $1.01. The insider spent around $842.34 to buy those shares.
• What’s Happening: Vivani Medical, during November, posted a wider-than-expected quarterly loss.
• What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.

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