$5 Million Bet On This Basic Materials Stock? Check Out These 3 Penny Stocks Insiders Are Buying

The Dow Jones jumped by around 240 points on Tuesday. Investors, meanwhile, focused on some notable insider trades.

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.3

TMC the metals company

• The Trade: TMC the metals company Inc. TMC 10% owner Eras Capital LLC bought a total of 6,250,000 shares at an average price of $0.80. To acquire these shares, it cost around $5 million.
• What’s Happening: The company recently posted a quarterly loss of $0.05 per share.
• What TMC the metals company Does: TMC The Metals Co Inc is an explorer of lower-impact battery metals from seafloor polymetallic nodules.

Great Elm Group

• The Trade: Great Elm Group, Inc. GEG 10% owner Long Ball Partners LLC acquired a total of 83,147 shares at an average price of $2.01. The insider spent around $167.13 thousand to buy those shares.
• What’s Happening: Great Elm Group, in May, posted a Q3 loss of $0.22 per share.
• What Great Elm Group Does: Great Elm Group Inc formerly, Great Elm Capital Group Inc operates as a holding company. The company operates in four business lines including durable medical equipment, investment management and real estate with general corporate.

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Bridgeline Digital

• The Trade: Bridgeline Digital, Inc. BLIN President and CEO Roger E Kahn acquired a total of 267,035 shares at an average price of $1.39. To acquire these shares, it cost around $93.18 thousand.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Bridgeline Digital Does: Bridgeline Digital Inc is a developer of web application management software and web applications to maximize the performance of critical websites, intranets, and online stores.