Lumen Technologies And 3 Other Stocks Under $3 Insiders Are Buying

The Dow Jones index closed lower by around 100 points 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.

Brightcove

• The Trade: Brightcove Inc. (NASDAQ:BCOV) 10% owner Jonathan Brolin acquired a total of 41,747 shares an average price of $1.86. To acquire these shares, it cost around $77,667. The company’s CEO also bought 25,000 shares of the company.
• What’s Happening: On Feb. 22, Brightcove reported fourth-quarter financial results and issued FY24 guidance below estimates..
• What Brightcove Does: Brightcove Inc is a provider of cloud-based streaming technology and services.

Lumen Technologies

• The Trade: Lumen Technologies, Inc. (NYSE:LUMN) Director T Michael Glenn acquired a total of 50,000 shares at at an average price of $1.47. To acquire these shares, it cost around $73,300.
• What’s Happening: On Feb. 6, Lumen Technologies reported better-than-expected fourth-quarter financial results.
• What Lumen Technologies Does: With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises.

Check This Out: Macy's, Lowe's And 3 Stocks To Watch Heading Into Tuesday

Rezolute

• The Trade: Rezolute, Inc. (NASDAQ:RZLT) Chief Medical Officer Brian Kenneth Roberts acquired a total of 8,000 shares at an average price of $1.69. The insider spent around $13,540 to buy those shares.
• What’s Happening: On Feb. 13, Rezolute posted a narrower-than-expected second-quarter loss.
• What Rezolute Does: Rezolute Inc is a biopharmaceutical company. The company develops novel, sustained-release injectable therapies.

Cyanotech

• The Trade: Cyanotech Corporation (OTC:CYAN) VP, Operations Glenn Jensen acquired a total of 16,835 shares at an average price of $0.31. The insider spent around $5,222 to buy those shares.
• What’s Happening: On Feb. 8, Cyanotech posted a wider quarterly loss.
• What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.

Don’t forget to check out our premarket coverage here