The Dow Jones closed lower by more than 100 points on Friday. 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.

Applied Digital

• The Trade: Applied Digital Corporation (NASDAQ:APLD) CEO, Chairman Wes Cummins acquired a total 25,000 shares an average price of $3.60. To acquire these shares, it cost around $90 thousand.
• What’s Happening: Applied Digital posted a narrower-than-expected quarterly loss.
• What Applied Digital Does: Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high performance computing industry.

Splash Beverage Group

• The Trade: Splash Beverage Group, Inc. (NYSE:SBEV) CEO and Chairman Robert Nistico acquired a total of 12,000 shares at an average price of $1.15. The insider spent around $13.79 thousand to buy those shares.
• What’s Happening: Splash Beverage posted a FY22 loss of $0.58 per share.
• What Splash Beverage Group Does: Splash Beverage Group Inc is a portfolio company managing multiple brands across several growth segments within the consumer beverage industry.

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CNS Pharmaceuticals

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