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.

RocketFuel Blockchain

The Trade: RocketFuel Blockchain, Inc. (OTC:RKFL) CEO Peter M. Jensen acquired a total of 5000 shares at an average price of $1.00. The insider spent $5,000.00 to acquire those shares.

What’s Happening: The company’s shares dropped around 2% over the previous month.

What RocketFuel Blockchain Does: RocketFuel Blockchain Inc is a development-stage company that is in the process of developing check-out systems based upon blockchain technology and designed to increase speed, security, and ease of use.

Longeveron

The Trade: Longeveron Inc. (NASDAQ:LGVN) Chief Scientific Officer Joshua Hare acquired a total of 2500 shares shares at an average price of $3.69. The insider spent $9,225.00 to buy those shares.

What’s Happening: Longeveron continued to advance its cell-based therapy studies in a growing industry segment.

What Longeveron Does: Longeveron Inc is a biotechnology company developing cellular therapies for specific ageing-related and life-threatening conditions. It is involved in sponsoring clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and Hypoplastic left heart syndrome (HLHS).

Sharing Services Global

The Trade: Sharing Services Global Corporation (OTC:SHRG) 10% owner Dss Inc acquired a total of 70000 shares at an average price of $0.10. To acquire these shares, it cost $6,650.00.

What’s Happening: The company’s stock has tumbled over 58% since the start of the year.

What Sharing Services Global Does: Sharing Services Global is a diversified holding company specializing in the direct selling industry. The company owns, operates, or controls an interest in a variety of companies that sell products and services to the consumer directly through independent representatives that range from health and wellness, energy, technology, insurance services, training, media, and travel benefits.