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.

HCW Biologics

The Trade: HCW Biologics Inc. (NASDAQ:HCWB) CEO Hing C Wong acquired a total of 18500 shares at an average price of $3.85. To acquire these shares, it cost $71,189.55.

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.

Houston American Energy

The Trade: Houston American Energy Corp. (NYSE:HUSA) 10% owner Ault Global Holdings Inc acquired a total of 14500 shares shares at an average price of $1.75. The insider spent $25,375.00 to buy those shares.

What’s Happening: The company’s shares gained around 5% over the prior month.

What Houston American Energy Does: Houston American Energy Corp is an independent oil and gas company focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties.

FlexShopper

The Trade: FlexShopper, Inc. (NASDAQ:FPAY) Director Thomas O Katz acquired a total of 2500 shares at an average price of $2.56. To acquire these shares, it cost $6,400.00.

What’s Happening: FlexShopper, recently, posted mixed results for the second quarter.

What FlexShopper Does: FlexShopper Inc operates as a holding company in the United States, is engaged in providing certain types of durable goods to consumers on a lease-to-own basis and providing lease-to-own (LTO) terms to consumers of third-party retailers and e-tailers.

Palisade Bio

The Trade: Palisade Bio, Inc. (NASDAQ:PALI) Chief Financial Officer JD Finley acquired a total of 10000 shares at an average price of $2.65. To acquire these shares, it cost $26,468.00.

What’s Happening: Maxim Group initiated coverage on Palisade Bio with a Buy rating and announced a price target of $7.

What Palisade Bio Does: Palisade Bio Inc is a late-stage biopharma company. It is advancing oral therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage.