In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Pen Inc. (OTCMKTS:PENC) reported that Berman Ronald J has picked up 231,997 of common stock as of 2017-05-25.
The acquisition brings the aggregate amount owned by Berman Ronald J to a total of 231,997 representing less than 14% stake in the company.
For those not familiar with the company, PEN Inc. is engaged in the marketing and sale of products enabled by nanotechnology. The Company develops and sells products based on its portfolio of intellectual property and its products include a portfolio of nano-layer coatings, nano-based cleaners, printable inks and pastes and thermal management materials. Its segments include Product Segment, which is engaged in the development of specialty products utilizing nanotechnology to deliver performance attributes at the surfaces of a range of substrates, and Research and Development Segment, which performs research services. The Company’s products encompass liquid and towelette formulations; anti-fogging liquid and towelette formulations; mar resistant and stain resistant coatings; protective coatings used on display panels and touch screens; protective and water repelling coatings on interior glass, decorated glass panels and shower doors, and coatings for ceramic insulators used in transit and underground subways systems.
A glance at Pen Inc. (OTCMKTS:PENC)’s key stats reveals a current market capitalization of 5.82 Million based on 3.10 Million shares outstanding and a price at last close of $1.75 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-23, Rickert picked up 43,910 at a purchase price of $0.38. This brings their total holding to 520,090 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Pen Inc. (OTCMKTS:PENC) as things move forward to see if its progress aligns with these transactions.
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