The Dow Jones closed more than 400 points higher on Wednesday. Investors, meanwhile, focused on some notable insider trading.

When insiders buy or sell stock, it shows their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider this as a factor in their overall investment or trading decision.

Below is a look at some notable penny stock insider trades. For more information, see Benzinga insider trading platform.3

BioSig Technologies

• The trade: BioSig Technologies, Inc. BSGM CEO Kenneth L. Londoner bought a total of 12,300 shares at an average price of $1.05. Acquisition of these shares cost about 12.91 thousand US dollars.
• What’s happening: The company’s shares have plunged around 33% over the past six months.
• What BioSig Technologies does: BioSig Technologies Inc is a medical technology company. The company is commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and reveal the full spectrum of ECG and intracardiac signals.

Sharps technology

• The trade: Sharp’s Technology, Inc. STSS Managing Director Robert M. Hayes acquired a total of 5,000 shares at an average price of $1.35. The insider spent around $6.77,000 to buy those shares.
• What’s happening: The company’s shares are up around 15% over the past month.
• What Sharps technology does: Sharps Technology Inc is a medical device company. It offers syringes and other safety products. Sharp’s Provensa Smart Ultra-Low Waste Safety Syringes are designed to help prevent over two million potentially infectious and accidental needlestick injuries.

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Bluejay diagnosis

• The trade: Bluejay Diagnostics, Inc. BJDX CFO Kenneth Fisher acquired a total of 20,000 shares at an average price of $1.03. It cost around $20.6,000 to acquire these shares.