The Dow Jones index closed higher by around 450 points on Friday. 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.

Expensify

• The Trade: Expensify, Inc. (NASDAQ:EXFY) 10% owner SF Roofdeck GP LLC bought a total of 11,972 shares at an average price of $1.60. To acquire these shares, it cost around $19,155.
• 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.

New Peoples Bankshares

• The Trade: New Peoples Bankshares, Inc. (OTC:NWPP) Director John D Cox acquired a total of 5,000 shares at an average price of $2.51. To acquire these shares, it cost around $12,550.
• What's Happening: The company's stock gained around 6% over the past six months.
• What New Peoples Bankshares Does: New Peoples Bankshares Inc is a bank holding company for New Peoples Bank.

Tecogen

• The Trade: Tecogen Inc. (OTC:TGEN) Director Earl R Lewis acquired a total of 5,000 shares at an average price of $0.75. The insider spent around $3,750 to buy those shares.
• What's Happening: Tecogen is expected to release first-quarter financial results on Thursday, May 9.
• What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products.

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