Around $3M Bet On This Basic Materials Stock? Check Out These 4 Penny Stocks Insiders Are Buying

The Dow Jones closed higher by more than 100 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.

Augusta Gold

• The Trade: Augusta Gold Corp. AUGG 10% owner Richard Warke acquired a total 2,996,200 shares an average price of $0.97. To acquire these shares, it cost around $2.91 million.
• What’s Happening: The company’s stock gained around 9% over the past month.
• What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties. It operates Bullfrog Project, located in Beatty town of Las Vegas, Nevada.

Ampco-Pittsburgh

• The Trade: Ampco-Pittsburgh Corporation AP Director Robert Demichiei acquired a total of 18,182 shares at an average price of $2.29. The insider spent around $41.67 thousand to buy those shares. The company’s VP, CFO and Treasurer also purchased the company’s shares.
• What’s Happening: Ampco-Pittsburgh posted a Q4 loss of $0.02 per share.
• What Ampco-Pittsburgh Does: Ampco-Pittsburgh Corp is a US-based company manufacturing and selling engineered, specialty metal products and customized equipment.

Check This Out: Top 5 Defensive Stocks That Are Set To Fly

Lipocine

• The Trade: Lipocine Inc. LPCN CEO and President Mahesh Patel acquired a total of 150,000 shares at an average price of $0.32. To acquire these shares, it cost around $48 thousand.
• What’s Happening: Lipocine posted a Q4 loss of $0.03 per share.
• What Lipocine Does: Lipocine Inc is a clinical-stage biopharmaceutical company. It is focused on oral drug delivery technology for the development of pharmaceutical products focusing on metabolic and endocrine disorders.

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Tecogen

• The Trade: Tecogen Inc. TGEN Director John Hatsopoulos acquired a total of 50,000 shares at an average price of $0.92. The insider spent $45.99 thousand to buy those shares.
• What’s Happening: The company received an order for three DTX Tecochill chillers providing 1200 tons of cooling to a repeat customer in the indoor agriculture space for the cultivation of leafy greens at a facility in Georgia.
• What Tecogen Does: Tecogen Inc designs, manufactures and markets cogeneration products including Natural gas engine-driven combined heat and power, Air conditioning systems, and Water heaters for residential, commercial, recreational and industrial use.