The Dow Jones index closed higher by around 150 points on Monday. 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.

GrafTech International

• The Trade: GrafTech International Ltd. (NYSE:EAF) 10% owner WJS Investments Ltd bought a total of 179,279 shares at an average price of $1.48. To acquire these shares, it cost around $266,211.
• What's Happening: On April 26, GrafTech International reported better-than-expected first-quarter financial results.
• What GrafTech International Does: GrafTech International Ltd is a manufacturer of high-quality graphite electrode products essential to the production of EAF steel and other ferrous and non-ferrous metals.

Expensify

• The Trade: Expensify, Inc. (NASDAQ:EXFY) 10% owner SF Roofdeck GP LLC acquired a total of 17,711 shares at an average price of $1.59. To acquire these shares, it cost around $28,162.
• What's Happening: Expensify is expected to announce first-quarter financial results after market close on Thursday, May 9.
• What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 872 shares at an average price of $1.07. The insider spent around $932 to buy those shares.
• What's Happening: On March 29, Retractable Technologies reported results for 2023.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.