The Dow Jones closed higher by over 200 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.

Vivani Medical

• The Trade: Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams acquired a total of 103,368 shares an average price of $1.00. To acquire these shares, it cost around $103,368.
• What's Happening: Vivani Medical recently posted a wider-than-expected second-quarter loss.
• What Vivani Medical Does: Vivani Medical Inc is a preclinical stage biopharmaceutical company. It develops miniaturized, subdermal implants utilizing its proprietary NanoPortal technology to enable long-term, near constant-rate delivery of a broad range of medicines to treat chronic diseases.

Brightcove

• The Trade: Brightcove Inc. (NASDAQ:BCOV) 10% owner Jonathan Brolin acquired a total of 2,005 shares at an average price of $2.93. To acquire these shares, it cost around $5,873.
• What's Happening: Brightcove is expected to report its third quarter fiscal year 2023 results on Nov. 1, 2023.
• What Brightcove Does: Brightcove Inc is a provider of cloud-based services for the video ecosystem. The firm targets its solutions at media companies, broadcasters, publishers, and corporations.

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Martin Midstream Partners

• The Trade: Martin Midstream Partners L.P. (NASDAQ:MMLP) Executive Vice President/ COO Randall Tauscher acquired a total of 25,350 shares at an average price of $2.37. The insider spent $60,026 to buy those shares.
• What's Happening: Martin Midstream Partners posted a narrower loss for the third quarter.
• What Martin Midstream Partners Does: Martin Midstream Partners LP has a diverse set of operations focused in the United States Gulf Coast region.

Solitario Resources

• The Trade: Solitario Resources Corp. (NYSE:XPL) Director James Hesketh acquired a total of 63,500 shares at an average price of $0.31. The insider spent around $19,685 to buy those shares.
• What's Happening: Solitario completed a private placement of 8,631,818 shares of common stock of the Company, at a price of $0.55 per share.
• What Solitario Resources Does: Solitario Resources Corp is a zinc-focused exploration company engaging in acquiring, exploring, and developing zinc properties in safe jurisdictions in North and South America.

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