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.

Liberty Star Uranium & Metals

• The Trade: Liberty Star Uranium & Metals Corp. (OTC:LBSR) President and CEO Brett Gross acquired a total of 1395379 shares at an average price of $0.27. To acquire these shares, it cost $375,356.95.
• What's Happening: The company's shares jumped around 54% over the past month.
• What Liberty Star Uranium & Metals Does: Liberty Star Uranium & Metals Corp is an Arizona-based mineral exploration company. It is engaged in the acquisition, exploration, and development of mineral properties in Arizona and the southwest USA.

Creatd

• The Trade: Creatd, Inc. (NASDAQ:CRTD) Co-Chief Executive Officer Jeremy Frommer acquired a total of 3251 shares at an average price of $2.00. The insider spent $6,509.56 to buy those shares.
• What's Happening: The company's stock dropped around 43% over the previous six months.
• 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. Its flagship technology platform is Vocal, which provides creators of all shapes and sizes, from bloggers to podcasters, and more with best-in-class storytelling tools, safe and curated communities, and the opportunity to monetize their content.

Akerna

• The Trade: Akerna Corp. (NASDAQ:KERN) Chief Operating Officer Cecil Ray Thompson Jr acquired a total of 6120 shares at an average price of $2.23. To acquire these shares, it cost $2,499.70. The insider also sold a total of 1230 shares.
• What's Happening: The company's shares declined around 14% since the start of the year.
• What Akerna Does: Akerna Corp is a United States-based company. The firm is the first compliance technology company in the cannabis space.

Avalo Therapeutics

• The Trade: Avalo Therapeutics, Inc. (NASDAQ:AVTX) Director Steven Boyd acquired a total of 455000 shares at an average price of $1.00. The insider spent $452,767.93 to buy those shares.
• What's Happening: Avalo Therapeutics recently reported Phase 1b results for AVTX-002 in moderate to severe Crohn's disease patients and presented additional program updates at the 2022 investor event.
• What Avalo Therapeutics Does: Avalo Therapeutics Inc is a clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology, immuno-oncology, and rare genetic diseases.

IronNet

• The Trade: IronNet, Inc. (NYSE:IRNT) Director Michael Rogers acquired a total of 13297 shares at an average price of $3.50. The insider spent $ $46,539.50 to buy those shares.
• What's Happening: IronNet reported expansion of partnership with New York Power Authority to defend key supply chain partners with collective defense.
• What IronNet Does: IronNet Inc is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever Collective Defense platform operating at scale.