Blend Labs And 3 Other Stocks Under $3 Insiders Are Buying

The Dow Jones closed slightly higher 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.

Butler National

• The Trade: Butler National Corporation (OTC:BUKS) 10% owner Joseph Patrick Daly acquired a total of 100,000 shares an average price of $0.69. To acquire these shares, it cost around $68,900.
• What’s Happening: Butler National disclosed the acquisition of KC Machine, a recognized provider of high-quality precision machine parts.
• What Butler National Does: Butler National Corp is engaged in designing, manufacturing and selling, installing, repairing, modifying, overhauling, servicing and distributing a broad portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

Blend Labs

• The Trade: Blend Labs, Inc. (NYSE:BLND) Head of Finance and Admin. Amir Jafari acquired a total of 14,124 shares at an average price of $1.21. To acquire these shares, it cost around $17,141.
• What’s Happening: Blend announced an integration with MeridianLink, Inc, a leading provider of modern software platforms for financial institutions and consumer reporting agencies.
• What Blend Labs Does: Blend Labs Inc is a cloud-based platform software platform that powers the digital interface between financial services firms and consumers.

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Tecogen

• The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 50,000 shares at an average price of $0.80. The insider spent $40,000 to buy those shares.
• What’s Happening: Tecogen announced the signing of a $1.5 million Credit Agreement.
• 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.

Barnwell Industries

• The Trade: Barnwell Industries, Inc. (NYSE:BRN) 10% owner Ned L Sherwood Revocable Trust acquired a total of 74,005 shares at an average price of $2.59. The insider spent around $192,009.
• What’s Happening: Barnwell Industries reported net loss of $717,000, $0.07 per share, for the three ended June 30, 2023.
• What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.

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