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.

Boxlight

The Trade: Boxlight Corporation (NASDAQ:BOXL) President Mark Starkey acquired a total of 20000 shares at an average price of $2.31. To acquire these shares, it cost $46,200.00.

What’s Happening: Boxlight recently reported better-than-expected Q2 results.

What Boxlight Does: Boxlight is an education technology company. It develops, sells and services interactive classroom solutions for the education market.

HCW Biologics

The Trade: HCW Biologics Inc. (NASDAQ:HCWB) Senior Vice President of Business Development Lee Flowers acquired a total of 13458 shares shares at an average price of $4.03. The insider spent $54,225.86 to buy those shares.

What’s Happening: HCW Biologics recently reported a Q2 net loss of $2.8 million.

What HCW Biologics Does: HCW Biologics Inc is a preclinical stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between chronic, low-grade inflammation and age-related diseases.

Reed's

The Trade: Reed's, Inc. (NASDAQ:REED) Director John Bello acquired a total of 135000 shares at an average price of $0.72. To acquire these shares, it cost $97,200.00.

What’s Happening: Reed's recently reported worse-than-expected Q2 sales.

What Reed's Does: Reed's Inc sells Ginger Beer brand. The company's portfolio of handcrafted, all-natural beverages sold in over 40,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores and on-premise locations including bars and restaurants.

Amplify Energy

The Trade: Amplify Energy Corp. (NYSE:AMPY) Director David Proman acquired a total of 15000 shares shares at an average price of $3.36. The insider spent $50,379.00 to buy those shares.

What’s Happening: The company, earlier during the month, reported a narrower quarterly loss.

What Amplify Energy Does: Amplify Energy Corp is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties in the United States.

ReShape Lifesciences

The Trade: ReShape Lifesciences Inc. (NASDAQ:RSLS) Chief Financial Officer Thomas Stankovich acquired a total of 15000 shares at an average price of $3.22. To acquire these shares, it cost $48,285.00.

What’s Happening: The company recently reported Q2 revenue of $3.5 million, up from $1.7 million in the year-ago period.

What ReShape Lifesciences Does: Reshape Lifesciences Inc is a developer of minimally invasive medical devices to treat obesity and metabolic diseases.