Around $1M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Buying

The Dow Jones index closed slightly lower on Tuesday. 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.

Tecogen

• The Trade: Tecogen Inc. TGEN Director John Hatsopoulos acquired a total of 1,000 shares an average price of $0.70. To acquire these shares, it cost around $700.
• What’s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.
• 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.

Flora Growth

• The Trade: Flora Growth Corp. FLGC CEO Clifford Starke acquired a total of 526,315 shares at at an average price of $1.90. To acquire these shares, it cost around $1 million.
• What’s Happening: Flora Growth, last week, announced the pricing of its underwritten public offering of 1.7 million common shares for aggregate gross proceeds of roughly $3.23 million.
• What Flora Growth Does: Flora Growth Corp is a multi-national cannabis company that manufactures and distributes consumer packaged goods, cultivates and distributes medicinal cannabis, and distributes pharmaceutical products.

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RENN Fund

• The Trade: RENN Fund, Inc. RCG CEO and President Murray Stahl acquired a total of 57 shares at an average price of $1.61. The insider spent around $92 to buy those shares.
• What’s Happening: RENN Fund shares fell around 8% over the past six months.
• What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed to provide return through capital appreciation and income by a long-term, value-oriented investment process that invests in a wide variety of financial instruments, including but not limited to, common stocks, fixed-income securities including convertible and non-convertible debt securities or loans, distressed debt, warrants, and preferred stock, exchange-traded funds and exchange-traded notes, and other instruments.

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