The Dow Jones index closed higher by around 10 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.

Cadiz

• The Trade: Cadiz Inc. (NASDAQ:CDZI) CEO Susan P Kennedy acquired a total of 6,762 shares an average price of $2.81. To acquire these shares, it cost around $18,999.
• What's Happening: Cadiz, during November, signed agreement with San Bernardino County and water project agencies to reserve water supply for desert communities.
• What Cadiz Does: Cadiz Inc is a land and water resource development company in California. Its primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage, and agriculture.

Lument Finance Trust

• The Trade: Lument Finance Trust, Inc. (NYSE:LFT) President James Henson acquired a total of 15,000 shares at at an average price of $2.37. To acquire these shares, it cost around $35,572.
• What's Happening: Lument Finance Trust, during November, reported its third quarter distributable earnings of $6.0 million, or 11 cents per share.
• What Lument Finance Trust Does: Lument Finance Trust Inc operates as a real estate investment trust. The company is engaged in investment, financing, and management of a portfolio of commercial real estate debt investments.

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Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 5,522 shares at an average price of $1.09. The insider spent around $6,019 to buy those shares.
• What's Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Sharps Technology

• The Trade: Sharps Technology, Inc. (NASDAQ:STSS) Director Timothy J. Ruemler acquired a total of 9,466 shares at an average price of $0.40. The insider spent around $3,786 to buy those shares.
• What's Happening: The company's stock fell around 17% over the past month.
• What Sharps Technology Does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products.

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