The Dow Jones index closed higher by around 170 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.

Socket Mobile

• The Trade: Socket Mobile, Inc. (NASDAQ:SCKT) Director Charlie Bass bought a total of 10,000 shares at an average price of $1.24. To acquire these shares, it cost around $12,357.
• What's Happening: On May 1, Socket Mobile posted better-than-expected quarterly sales.
• What Socket Mobile Does: Socket Mobile Inc is a producer of data capture products.

Barnwell Industries

• The Trade: Barnwell Industries, Inc. (NYSE:BRN) 10% owner Ned L. Sherwood Revocable Trust acquired a total of 8,782 shares at at an average price of $2.80. To acquire these shares, it cost around $24,601.
• What's Happening: On Feb. 20, Barnwell Industries announced a planned CEO succession.
• What Barnwell Industries Does: Barnwell Industries Inc is an oil and gas firm. Its areas of operations include acquiring, developing, producing, and selling oil and natural gas.

Comstock

• The Trade: Comstock Inc. (NYSE:LODE) Chief Engineering Officer Rahul Bobbili acquired a total of 25,000 shares at an average price of $0.25. The insider spent around $6,268 to buy those shares.
• What's Happening: On April 30, Comstock reported weaker-than-expected first-quarter sales.
• What Comstock Does: Comstock Inc is engaged in technologies that efficiently use wasted and under-utilized natural resources to produce renewable energy and other products that contribute to balancing uses and emissions of carbon and enhance mineral and material discoveries.

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