More Than $2M Bet On This Consumer Defensive Stock? Check Out These 3 Penny Stocks Executives Are Aggressively Buying

Avi Kapoor

September 18, 2024

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.

CPS Technologies

The Trade: CPS Technologies Corporation (NASDAQ:CPSH) CFO Charles Kellogg Griffith Jr bought a total of 1,000 shares at an average price of $1.43. To acquire these shares, it cost around $1,430.
What's Happening: On Sept. 17, CPS Technologies announced Phase II award from the Department of Energy.
What CPS Technologies Does: CPS Technologies Corp provides material solutions to the transportation, automotive, energy, computing/Internet, telecommunications, aerospace, defense, and oil and gas end markets.

Flora Growth

The Trade: Flora Growth Corp. (NASDAQ:FLGC) CEO Clifford Starke acquired a total of 6,795 shares at an average price of $0.95. To acquire these shares, it cost around $6,455.
What's Happening: On Aug. 13, Flora Growth reported its financial and operating results Monday for the second quarter ended June 30. The Florida-based cannabis company disclosed revenue of $15.68 million, down from $21.46 million in the same period last year.
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.

BRC

The Trade: BRC Inc. (NYSE:BRCC) Engaged Capital Flagship Master Fund, LP Leonard acquired a total of 684,542 shares at an average price of $3.17. The insider spent around $2.17 million to buy those shares.
What's Happening: On Sept. 5, BRC announced a long-term sales and distribution agreement with Keurig Dr Pepper for a new line of ready-to-drink Black Rifle Energy beverages.
What BRC Does: BRC Inc is a veteran-controlled company that serves premium coffee, content, and merchandise to active military, veterans, and first responders.

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