The Dow Jones index closed higher by over 250 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.

Conn's

• The Trade: Conn's, Inc. (NASDAQ:CONN) Director Douglas H Martin bought a total of 10,817 shares at an average price of $3.71. To acquire these shares, it cost around $40,103.
• What's Happening: On April 11, the company reported fourth-quarter adjusted earnings per share of $(1.25) loss, narrower than the street view of $(1.57).
• What Conn's Does: Conn's Inc is a US-based specialty retailer selling durable consumer goods and related services.

Mobile Infrastructure

• The Trade: Mobile Infrastructure Corporation (NYSE:BEEP) CEO Manuel Chavez III acquired a total of 5,442 shares at an average price of $3.44. To acquire these shares, it cost around $18,720.
• What's Happening: Mobile Infrastructure is expected to issue its first quarter 2024 earnings release on May 15, 2024.
• What Mobile Infrastructure Does: Mobile Infrastructure Corp focuses on acquiring, owning, and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States.

Alzamend Neuro

• The Trade: Alzamend Neuro, Inc. (NASDAQ:ALZN) Director Milton C Ault III acquired a total of 1,000 shares at an average price of $0.69. The insider spent around $688 to buy those shares.
• What's Happening: On Dec. 11, 2023, Alzamend Neuro received a "Study May Proceed" letter from the FDA for the initiation of study AL001-PTSD01, a Phase 2A study of AL001 for post-traumatic stress disorder (PTSD).
• What Alzamend Neuro Does: Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company.