Lumen Technologies And 3 Other Stocks Under $3 Insiders Are Buying
Insiders Confident: Lumen Technologies and Others See Buying Interest

Written By Michael Gary Scott

The Dow Jones index closed lower by around 100 points on Tuesday. Insider transactions provide a window into the hearts of companies. The recent buying activity by insiders might be a beacon for investors, shining light on potential opportunities beneath the $3 mark.

Let’s delve into the specifics of a few intriguing insider purchases within the realm of penny stocks.

Brightcove

  • The Play: Brightcove Inc. (BCOV) saw a notable acquisition by 10% owner Jonathan Brolin of 41,747 shares at an average price of $1.86, totaling around $77,667. Additionally, the company’s CEO also acquired 25,000 shares.
  • The Buzz: Brightcove’s fourth-quarter financial results released on Feb. 22 were accompanied by FY24 guidance below expectations.
  • Company Overview: Brightcove Inc. specializes in cloud-based streaming technology and services.

Lumen Technologies

  • The Move: Director T Michael Glenn of Lumen Technologies, Inc. (LUMN) obtained 50,000 shares at an average price of $1.47, amounting to about $73,300.
  • The Development: Lumen Technologies exceeded fourth-quarter financial expectations when it reported results on Feb. 6.
  • Corporate Synopsis: Lumen Technologies operates with a network spanning 450,000 route miles of fiber, positioned as a major telecommunications provider to multinational corporations.

Rezolute

  • The Deal: Chief Medical Officer Brian Kenneth Roberts of Rezolute, Inc. (RZLT) purchased 8,000 shares at an average price of $1.69, amounting to around $13,540.
  • The Situation: On Feb. 13, Rezolute reported a narrower-than-anticipated loss for the second quarter.
  • Business Focus: Rezolute Inc. is a player in the biopharmaceutical sector, specializing in novel, sustained-release injectable therapies.

Cyanotech

  • The Action: VP of Operations Glenn Jensen at Cyanotech Corporation (CYAN) acquired 16,835 shares at an average price of $0.31, totaling approximately $5,222.
  • The News: Cyanotech reported a widened quarterly loss on Feb. 8.
  • Company Insight: Cyanotech Corp focuses on producing natural products derived from microalgae for the nutritional supplements market.
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