The Dow Jones index closed lower 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.

Cyanotech

• The Trade: Cyanotech Corporation (OTC:: CYAN) Director Michael A / Davis bought a total of 47,037 shares at an average price of $0.82. To acquire these shares, it cost around $8,200.
• What’s Happening: On Aug. 7, Cyanotech announced financial results for the first quarter of fiscal year 2025, ended June 30, 2024.
• What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.

Emeren Group

• The Trade: Emeren Group Ltd SOL 10% owner Shah Capital Management acquired a total of 70,194 shares at an average price of $1.84. To acquire these shares, it cost around $129,322.
• What’s Happening: On Sept. 3, Emeren named Dr. Ramki Srinivasan to its Board of Directors.
• What Emeren Group Does: Emeren Group Ltd is a solar project developer and operator, a solar downstream player.

Red Robin Gourmet Burgers

• The Trade: Red Robin Gourmet Burgers, Inc. RRGB CFO Joshua Todd Wilson acquired a total of 5,000 shares at an average price of $3.60. The insider spent around $18,000 to buy those shares.
• What’s Happening: On Aug. 22, Red Robin reported downbeat earnings for its second quarter and lowered its FY24 revenue guidance.
• What Red Robin Does: Red Robin Gourmet Burgers Inc is a restaurant operator.

Nanophase Technologies

• The Trade: Nanophase Technologies Corporation NANX Director R Janet Whitmore acquired a total of 9,263 shares at an average price of $1.50. The insider spent around $13,889 to buy those shares.
• What’s Happening: On Aug. 6, Nanophase Technologies posted an increase in second-quarter sales.
• What Nanophase Technologies Does: Nanophase Technologies Corp is 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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