The Dow Jones index closed lower by around 0.1% 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.

Rekor Systems

• The Trade: Rekor Systems, Inc. (NASDAQ:REKR) 10% owner Arctis Global LLC bought a total of 2,275,000 shares at an average price of $1.40. To acquire these shares, it cost around $3.19 million.
• What's Happening: On May 20, Rekor Systems announced a partnership with MS2.
• What Rekor Systems Does: Rekor Systems Inc is a United States-based company. The company is engaged in providing real-time roadway intelligence through AI-driven decisions.

System1

• The Trade: System1, Inc. (NYSE:SST) 10% owner CEE Holdings Trust acquired a total of 2,603 shares at at an average price of $1.45. To acquire these shares, it cost around $3,774.
• What's Happening: On May 9, System1 posted upbeat first-quarter results.
• What System1 Does: System1 Inc develops technology and data science to operate a responsive acquisition marketing platform.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) CEO and President Thomas J Shaw acquired a total of 8,788 shares at an average price of $1.14. The insider spent around $10,018 to buy those shares.
• What's Happening: On May 15, Retractable Technologies posted a decline in quarterly sales results.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

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