The Dow Jones index closed lower by around 375 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.

Netcapital

• The Trade: Netcapital Inc. (NASDAQ:NCPL) Director Steven F Geary bought a total of 239,274 shares at an average price of $0.13. To acquire these shares, it cost around $31,680.
• What's Happening: On March 18, Netcapital posted a loss for the third quarter.
• What Netcapital Does: Netcapital Inc is a financial technology company. The company facilitates the growth of private companies by providing fundraising services and other consulting services.

Vivakor

• The Trade: Vivakor, Inc. (NASDAQ:VIVK) CEO James H. Ballengee acquired a total of 102,000 shares at an average price of $1.51. To acquire these shares, it cost around $154,005.
• What's Happening: On March 25, Vivakor announced that it signed a definitive Membership Interest Purchase Agreement to acquire Endeavor Entities..
• What Vivakor Does: Vivakor Inc is a socially responsible operator, acquirer and developer of technologies and assets in the oil and gas industry, as well as related environmental solutions.

Mobile Infrastructure

• The Trade: Mobile Infrastructure Corporation (NYSE:BEEP) CEO Manuel Chavez III acquired a total of 1,535 shares at an average price of $3.48. The insider spent around $5,342 to buy those shares.
• What's Happening: Mobile Infrastructure is expected to issue its first quarter 2024 earnings release on May 15, 2024.
• What Mobile Infrastructure Does: Mobile Infrastructure Corp focuses on acquiring, owning, and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States.