The Dow Jones index saw a significant increase of over 400 points on Wednesday, indicating positive market sentiment. Insider transactions in penny stocks can offer valuable insights for investors and traders. Here are some recent notable insider transactions in penny stocks:
1. Expensify:
– 10% owner SF Roofdeck GP LLC purchased 123,217 shares of Expensify (EXFY) at an average price of $1.45, totaling around $178,665.
– Analyst Joe Goodwin reiterated Expensify with a Market Perform rating on June 14.
– Expensify Inc is a cloud-based expense management software platform for businesses.
2. Cyanotech:
– Director Michael A Davis acquired 10,000 shares of Cyanotech Corporation (CYAN) at an average price of $0.36, costing around $3,550.
– Cyanotech reported net sales of $23,071,000 for fiscal 2024 on June 26.
– Cyanotech Corp produces natural products from microalgae for the nutritional supplements market.
3. Douglas Elliman:
– Director, Chairman, President & CEO Howard M Lorber purchased 100,000 shares of Douglas Elliman Inc (DOUG) at an average price of $1.15, spending approximately $114,563.
– The company received a $50 million growth investment from Kennedy Lewis Investment Management on July 2.
– Douglas Elliman Inc is a real estate company offering sales, rentals, and other real estate services.
Insider transactions can provide valuable information for decision-making in penny stock investments. Always conduct thorough research and consider all factors before making any investment decisions.