The Dow Jones closed lower by over 150 points on Tuesday. 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.

Dalrada Financial

• The Trade: Dalrada Financial Corporation (OTC:DFCO) CEO Brian Bonar acquired a total of 15,000 shares an average price of $0.15. To acquire these shares, it cost around $2,235.
• What's Happening: -Dalrada Financial said that its healthcare division, Genefic Wellness Group, is launching a new company, Genefic Infused Clinics, to offer alternative therapies for post-traumatic stress disorder, depression, anxiety, and chronic pain.
• What Dalrada Financial Does: Dalrada Financial Corp is a United States-based company engaged in providing financial, insurance, benefit, and business process outsourcing products and services to companies.

Gaia

• The Trade: Gaia, Inc. (NASDAQ:GAIA) Director Paul Sutherland acquired a total of 9,000 shares at an average price of $2.35. The insider spent around $21,150.
• What's Happening: Gaia reported a wider-than-expected second-quarter loss.
• What Gaia Does: Gaia Inc is a video streaming service and community that provides curated conscious media in primary channels-Seeking Truth provides new and enlightening perspectives for today's changing world; Transformation provides a wealth of content in the niche areas of spiritual growth, personal development and expanded consciousness; Alternative Healing channel features content focused on food and nutrition, holistic healing, alternative and integrative medicines, and longevity, and Yoga.

Cidara Therapeutics

• The Trade: Cidara Therapeutics, Inc. (NASDAQ:CDTX) President and CEO Jeffrey Stein acquired a total of 50,000 shares at an average price of $0.96. To acquire these shares, it cost around $47,885.
• What's Happening: Cidara Therapeutics posted a wider-than-expected quarterly loss.
• What Cidara Therapeutics Does: Cidara Therapeutics Inc is a biotechnology company. It is focused on the discovery, development, and commercialization of novel anti-infectives for the treatment and prevention of diseases.

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Augusta Gold

• The Trade: Augusta Gold Corp. (OTC:AUGG) Executive Chairman Richard Warke acquired a total of 30,000 shares at an average price of $0.67. The insider spent $20,100 to buy those shares.
• What's Happening: Augusta Gold said that its Annual General Meeting will be held Sept. 7, 2023.
• What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties.