The Dow Jones index closed higher by around 90 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.

E.W. Scripps Company

The Trade: The E.W. Scripps Company Director Charles L. Barmonde acquired a total of 10,500 shares an average price of $4.28. To acquire these shares, it cost around $44,970.

What's Happening: On Feb. 23, E.W. Scripps reported mixed fourth-quarter financial results.

What E.W. Scripps Does: The E W Scripps Co ( SSP ) is a media enterprise with interests in local and national media brands. It owns and operates a collection of daily and community newspapers in medium-sized cities in the southern and western portions of the United States.

Charles & Colvard

The Trade: Charles & Colvard, Ltd. ( CTHR ) Director Ollin B Sykes acquired a total of 44,940 shares at at an average price of $0.38. To acquire these shares, it cost around $17,287.

What's Happening: On Feb. 13, Charles & Colvard posted a quarterly loss of 9 cents per share.

What Charles & Colvard Does: Charles & Colvard Ltd ( CTHR ) manufactures, markets, and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.

Check This Out: Investor Sentiment Improves Further, Nasdaq Hits New High

AMMO

The Trade: AMMO, Inc. ( POWW ) CEO Jared Rowe Smith acquired a total of 8,000 shares at an average price of $2.33. The insider spent around $18,640 to buy those shares.

What's Happening: On Feb. 8, AMMO posted upbeat third-quarter results.

What AMMO Does: AMMO Inc ( POWW ) is the owner of GunBroker.com, the online marketplace serving the firearms and shooting sports industries, and a vertically integrated producer of high-performance ammunition and components.

Power Solutions International

The Trade: Power Solutions International, Inc. ( PSIX ) 10% owner Neil Gagnon acquired a total of 25,069 shares at an average price of $1.95. The insider spent around $48,867 to buy those shares.

What's Happening: On March 1, Power Solutions International ( PSIX ) appointed Randall D. Lehner as its General Counsel, effective March 4, 2024.

What Power Solutions International Does: Power Solutions International Inc ( PSIX ) is an America-based company that manufactures, distributes, and services power systems that primarily run on nondiesel fuels, including natural gas, propane, and gasoline.

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