The Dow Jones index closed higher by more than 1% 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.

Roadzen

• The Trade: Roadzen, Inc. (NASDAQ:RDZN) Rohan Malhotra bought a total of 2,600 shares at an average price of $1.92. To acquire these shares, it cost around $4,999.
• What's Happening: On Aug. 13, Roadzen reported a quarterly loss of 71 cents per share.
• What Roadzen Does: Roadzen Inc is an insurance technology company on a mission to transform global auto insurance powered by advanced AI.

System1

• The Trade: System1, Inc. (NYSE:SST) 10% owner Cee Holdings Trust acquired a total of 18,055 shares at an average price of $1.22. To acquire these shares, it cost around $21,961.
• What's Happening: On Aug. 8, System1 posted upbeat quarterly earnings.
• What System1 Does: System1 Inc develops technology and data science to operate a responsive acquisition marketing platform.

Nanophase Technologies

• The Trade: Nanophase Technologies Corporation (OTC:NANX) R Janet Whitmore Gaboury acquired a total of 4,488 shares at an average price of $1.51. The insider spent around $6,777 to buy those shares.
• What's Happening: On Aug. 6, Nanophase Technologies posted an increase in second-quarter sales.
• What Nanophase Technologies Does: Nanophase Technologies Corp is engaged in the production of engineered nanomaterial solutions and larger, sub-micron, materials such as personal care sunscreens, architectural coatings, industrial coating applications, and abrasion-resistant additives, plastics additives, medical diagnostics, energy..

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