The Dow Jones closed lower by over 200 points on Thursday. 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.

Globalstar

• The Trade: Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired a total 5,263,863 shares an average price of $0.98. To acquire these shares, it cost around $5.15 million.
• What’s Happening: Globalstar reported better-than-expected Q1 sales results.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

Glatfelter

Ultralife

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