The Dow Jones index closed higher by more than 150 points on Wednesday. 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.

Lumen Technologies

• The Trade: Lumen Technologies, Inc. (NYSE:LUMN) Director James Fowler acquired a total of 33,500 shares an average price of $1.68. To acquire these shares, it cost around $56,428.
• What's Happening: Lumen Technologies reported better-than-expected fourth-quarter financial results.
• What Lumen Technologies Does: With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises.

Dakota Gold

• The Trade: Dakota Gold Corp. (NYSE:DC) Director Robert Quartermain acquired a total of 10,000 shares at at an average price of $2.00. To acquire these shares, it cost around $20,000.
• What's Happening: The company's stock lost around 33% over the past six months.
• What Dakota Gold Does: Dakota Gold Corp is a gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota.

Orgenesis

• The Trade: Orgenesis Inc. (NASDAQ:ORGS) 10% owner Jacob Safier acquired a total of 365,140 shares at an average price of $0.58. The insider spent around $213,280 to buy those shares.
• What's Happening: Orgenesis entered into a definitive agreement with MM OS Holdings, an affiliate of Metalmark Capital Partners, to acquire its approximate 25% stake in Octomera.
• What Orgenesis Does: Orgenesis Inc is a biotech company working to unlock the potential of cell and gene therapies.

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