Eos Energy Enterprises And 2 Other Stocks Under $2 Insiders Are Buying

The Dow Jones index closed higher by more than 200 points on Monday. 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 10,000 shares at an average price of $0.80. To acquire these shares, it cost around $8,000.
• 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.

MSP Recovery

• The Trade: MSP Recovery, Inc. (NASDAQ:LIFW) CEO John Hasan Ruiz acquired a total of 100,000 shares at an average price of $0.25. To acquire these shares, it cost around $25,020.
• What's Happening: On Aug. 19, MSP Recovery revealed a $3.1 million antitrust lawsuit settlement.
• What MSP Recovery Does: MSP Recovery Inc is a healthcare recovery and data analytics company. The business model includes two principal lines of business: Claims Recovery and Chase to Pay Services.

Eos Energy Enterprises

• The Trade: Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Alexander Dimitrief acquired a total of 3,000 shares at an average price of $1.90. The insider spent around $5,685 to buy those shares.
• What's Happening: On Aug. 6, Eos Energy Enterprises reported worse-than-expected second-quarter financial results.
• What Eos Energy Enterprises Does: Eos Energy Enterprises Inc designs develop, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial & industrial (C&I) applications.

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