Over $1M Bet On This Tech Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed higher by around 190 points 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.

Emeren Group

• The Trade: Emeren Group Ltd SOL CFO Shah Capital Management acquired a total 303,854 shares an average price of $3.54. To acquire these shares, it cost around $1.08 million.
• What’s Happening: Emeren Group reported sale of 29 MW of China Rooftop DG Projects.
• What Emeren Group Does: Emeren Group Ltd is a leading global solar project developer, owner, and operator with a ~3 GW pipeline of projects and IPP assets across Europe, North America, and Asia.

Grove Collaborative Holdings

• The Trade: Grove Collaborative Holdings, Inc. GROV Director John B Replogle acquired a total of 60,242 shares at an average price of $1.72. The insider spent around $103.56 thousand to buy those shares. The company’s President & CEO also purchased company’s shares.
• What’s Happening: Grove Collaborative reported a 1-for-5 reverse stock split.
• What Grove Collaborative Holdings Does: Grove Collaborative Holdings Inc is engaged in providing consumer products. It offers Cleaning accessories, Home and Pantry, Personal care products, Pets supplements and Other products.

Processa Pharmaceuticals

• The Trade: Processa Pharmaceuticals, Inc. PCSA President and CEO David Young acquired a total of 40,000 shares at an average price of $0.80. To acquire these shares, it cost around $32 thousand.
• What’s Happening: The company’s stock dipped 62% over the past six months.
• What Processa Pharmaceuticals Does: Processa Pharmaceuticals Inc is a clinical-stage biopharmaceutical company based in the United States.

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