The Dow Jones index closed slightly higher 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.

HNR Acquisition

The Trade: HNR Acquisition Corp ( HNRA ) Director Joseph V Salvucci Sr bought a total of 10,000 shares at an average price of $1.56. To acquire these shares, it cost around $15,636.

What's Happening: On Aug. 20, HNR Acquisition ( HNRA ) posted a second-quarter loss of 12 cents per share.

What HNR Acquisition Does: HNR Acquisition Corp ( HNRA ) is a blank check company

ThredUp

The Trade: ThredUp Inc. ( TDUP ) Director Jack R Lazar acquired a total of 20,000 shares at an average price of $0.94. To acquire these shares, it cost around $18,844.

What's Happening: On Aug. 5, ThredUp ( TDUP ) reported worse-than-expected second-quarter financial results and issued FY24 revenue guidance below estimates.

What ThredUp Does: ThredUp Inc ( TDUP ) is an online resale platform for women and kids apparel, shoes, and accessories.

System1

The Trade: System1, Inc. ( SST ) 10% owner Cee Holdings Trust acquired a total of 25,353 shares at an average price of $1.24. The insider spent around $31,422 to buy those shares.

What's Happening: On Aug. 8, System1 posted upbeat quarterly earnings.

What System1 Does: System1 Inc ( SST ) develops technology and data science to operate a responsive acquisition marketing platform. It serves customers in the areas of health and wellness, automotive, finance, travel, and entertainment.

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