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.

InMed Pharmaceuticals

• The Trade: InMed Pharmaceuticals Inc. (NASDAQ:INM) SVP Aaron Shane Johnson acquired a total of 8500 shares at an average price of $1.26. To acquire these shares, it cost $10,710.00.
• What’s Happening: InMed Pharmaceuticals recently announced publication of article on CBN as possible glaucoma treatment.
• What InMed Pharmaceuticals Does: InMed Pharmaceuticals Inc is a Canada based clinical-stage biopharmaceutical company. The company is engaged in the research and development of novel, cannabinoid-based, and manufacturing of Pharmaceutical grade cannabinoids.

Orbsat

• The Trade: Orbsat Corp. (NASDAQ:OSAT) Vice Chairman And Chief Business Development Strategist Douglas Ellenoff acquired a total of 46297 shares at an average price of $3.24. The insider spent $150,002.28 to buy those shares.
• What’s Happening: Orbsat recently reported a $7.2 million private placement.
• What Orbsat Does: Orbsat Corp provides satellite-based asset tracking and monitoring services which also includes ground station construction, product design, and engineering services.

Arlington Asset Investment

• The Trade: Arlington Asset Investment Corp. (NYSE:AAIC) President and CEO Rock Tonkel Jr acquired a total of 65866 shares at an average price of $3.61. To acquire these shares, it cost $36,070.00.
• What’s Happening: Arlington Asset Investment, last month, declares Q4 dividends on preferred stock.
• What Arlington Asset Investment Does: Arlington Asset Investment Corp is a U.S. based principal investment company. The company holds a leveraged MBS investment portfolio, including Agency MBS, private-label MBS, private-label interest-only MBS, and net long TBA positions, with Agency MBS accounting for the majority of total investment capital.

ClearOne

• The Trade: ClearOne, Inc. (NASDAQ:CLRO) 10% owner Edward D Bagley acquired a total of 1538461 shares at an average price of $1.30. The insider spent $1,999,999.30 to buy those shares.
• What’s Happening: ClearOne highlighted introduction of DIALOG 10 USB single-channel wireless USB mic.
• What ClearOne Does: ClearOne Inc is a communications solutions company, which is engaged in designing, developing, and selling conferencing, collaboration, streaming, and digital signage solutions for audio, video, and visual communication.