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.

TMC the metals company

• The Trade: TMC the metals company Inc. (NASDAQ:TMC) Director ERAS Capital LLC acquired a total of 1000000 shares at an average price of $2.09. To acquire these shares, it cost $2,090,000.00.
• What's Happening: The company's stock dropped around 80% over the past six months.
• What TMC the metals company Does: TMC The Metals Co Inc is an explorer of lower-impact battery metals from seafloor polymetallic nodules. It supplies metals for the clean energy transition with the least possible negative environmental and social impact and accelerates the transition to a circular metal economy.

Creatd

• The Trade: Creatd, Inc. (NASDAQ:CRTD) Co-CEO Jeremy Frommer acquired a total of 2676 shares at an average price of $2.24. The insider spent $6,005.35 to buy those shares.
• What's Happening: Creatd recently announced the release of 'Pledges' monetization feature.
• What Creatd Does: Creatd Inc empowers creators, brands, and entrepreneurs through technology and partnership. The company has three platforms, namely Vocal Ventures, Creatd Partners, and Recreatd.

Emmaus Life Sciences

• The Trade: Emmaus Life Sciences, Inc. (OTC:EMMA) Director James P Geiskopf acquired a total of 57291 shares at an average price of $0.29. To acquire these shares, it cost $16,499.81.
• What's Happening: The company's shares dropped 7.2% on Monday.
• What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.

MJ Holdings

• The Trade: MJ Holdings, Inc. (OTC:MJNE) Chairman & Chief Cultivation Officer Paris Balaouras acquired a total of 33393 shares at an average price of $0.30. The insider spent $9,999.88 to buy those shares.
• What's Happening: The company's stock tumbled around 14% over the past month.
• What MJ Holdings Does: MJ Holdings Inc engages in the provision of consulting and operating services to the regulated cannabis industry. It provides a full spectrum of infrastructure, construction, cultivation management, production management, distribution consulting, and operating services to cultivation and production operators.