The Dow Jones closed lower by over 100 points on Wednesday. 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.

authID

• The Trade: authID Inc. (NASDAQ:AUID) 10% owner Stephen Jeffrey Garchik acquired a total 6,465,612 shares an average price of $0.47. To acquire these shares, it cost around $3.02 million.
• What’s Happening: AuthID posted a narrower first-quarter loss.
• What authID Does: AuthID Inc is a provider of an Identity as a Service (IDaaS) platform that delivers a suite of secure, mobile, biometric identity solutions.

Altus Power

• The Trade: Altus Power, Inc. (NYSE:AMPS) Director, Co-Founder, Co-CEO, Co-President Gregg Felton acquired a total of 22,500 shares at an average price of $4.49. The insider spent around $101.13 thousand to buy those shares.
• What’s Happening: Altus Power reported better-than-expected first-quarter financial results.
• What Altus Power Does: Altus Power Inc is a renewable energy generation company focused on the commercial and industrial, public sector, and community solar customers.

SpringBig Holdings

• The Trade: SpringBig Holdings, Inc. (NASDAQ:SBIG) Director Jonathan Trauben acquired a total of 97,318 shares at an average price of $0.30. To acquire these shares, it cost around $28.89 thousand.
• What’s Happening: SpringBig Holdings priced a $4 million offering.
• What SpringBig Holdings Does: SpringBig Holdings Inc is a software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada.

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