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.

BioSig Technologies

The Trade: BioSig Technologies, Inc. (NASDAQ:BSGM) CEO Kenneth L Londoner acquired a total of 6400 shares at an average price of $3.09. To acquire these shares, it cost $19,802.24.

What’s Happening: The company’s stock dropped more than 12% over the previous month.

What BioSig Technologies Does: BioSig Technologies Inc is a medical technology company.

Muscle Maker

The Trade: Muscle Maker, Inc. (NASDAQ:GRIL) Director Spanos Stephen Andrew acquired a total of 4300 shares shares at an average price of $1.17. The insider spent $5,031.00 to buy those shares.

What’s Happening: The company, last month, reported a loss for its second quarter.

What Muscle Maker Does: Muscle Maker Inc is engaged in the restaurant business. It offers meals such as chicken, seafood, pasta, hamburgers, wraps, and flatbread among others.

PHX Minerals

The Trade: PHX Minerals Inc. (NYSE:PHX) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 95354 shares at an average price of $2.52. To acquire these shares, it cost $240,555.21.

What’s Happening: PHX Minerals recently reported at-the-market equity offering sales program with Stifel for up to 3 million shares.

What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.

Better Choice

The Trade: Better Choice Company Inc. (NYSE:BTTR) Director John M Word III acquired a total of 25000 shares at an average price of $3.36. To acquire these shares, it cost $84,000.00.

What’s Happening: Better Choice Company’s board, last month, authorized a stock repurchase program of up to $2 million of its outstanding common stock, valid until December 31, 2021.

What Better Choice Does: Better Choice Co is a pet health and wellness portfolio company, offering consumers a wide variety of recognized premium pet products and hemp-derived CBD supplements.