Lumen Technologies And 2 Other Stocks Under $2 Insiders Are Buying

The Dow Jones index closed higher by more than 100 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.

Lumen Technologies

• The Trade: Lumen Technologies, Inc. LUMN Director James Fowler acquired a total of 30,000 shares an average price of $1.50. To acquire these shares, it cost around $45,000.
• What’s Happening: Lumen Technologies reported better-than-expected fourth-quarter financial results.
• What Lumen Technologies Does: With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises.

Nanophase Technologies

• The Trade: Nanophase Technologies Corporation NANX 10% owner Bradford T Whitmore acquired a total of 3,824,864 shares at at an average price of $0.40. To acquire these shares, it cost around $1,529,946.
• What’s Happening: Nanophase recently announced rights offering to stockholders.
• What Nanophase Technologies Does: Nanophase Technologies Corp is a U.S based company engaged in the production of engineered nanomaterial solutions and larger, sub-micron, materials such as personal care sunscreens, architectural coatings, industrial coating applications, and abrasion-resistant additives, plastics additives, medical diagnostics, energy.

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Sunshine Biopharma

• The Trade: Sunshine Biopharma, Inc. SBFM CEO Steve N. Slilaty acquired a total of 20,000 shares at an average price of $0.10. The insider spent around $2,000 to buy those shares.
• What’s Happening: Sunshine Biopharma posted a narrower-than-expected quarterly loss.
• What Sunshine Biopharma Does: Sunshine Biopharma Inc is a pharmaceutical company focused on the research, development, and commercialization of oncology and antiviral drugs.

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