Editorial StaffWhen insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
RF Industries
The Trade:RF Industries, Ltd. (NASDAQ: RFIL) Director Mark Holdsworth acquired a total of 23571 shares at an average price of $7.71. To acquire these shares, it cost $181,748.17. What’s Happening: RF Industries recently reported fourth-quarter FY21 net sales growth of 97% year-on-year to $21.1 million. What RF Industries Does: RF Industries is engaged in the design, manufacture, and marketing of interconnect products and systems, including coaxial and specialty cables, fiber optic cables and connectors, and electrical and electronic specialty cables.
Sunnova Energy International
The Trade:Sunnova Energy International Inc. (NYSE: NOVA) Director Akbar Mohamed acquired a total of 22553 shares at an average price of $26.13. To acquire these shares, it cost $522,600.00. What’s Happening: RBC Capital, earlier during the month, maintained Sunnova Energy Intl with an Outperform and lowered the price target from $61 to $58. What Sunnova Energy International Does: Sunnova Energy International Inc is a residential solar and energy storage service provider company.
Barnes & Noble Education
The Trade:Barnes & Noble Education, Inc. (NYSE: BNED) Director Zachary Levenick bought a total of 67500 shares at an average price of $6.70. To acquire these shares, it cost $452,075.00. What’s Happening: Barnes & Noble Education, last month, reported second-quarter FY22 sales growth of 5.3% year-on-year, to $626.98 million. What Barnes & Noble Education Does: Barnes & Noble Education Inc is an operator of bookstores in college and university campuses across the United States and it also engaged in providing digital education services.
Purple Innovation
The Trade:Purple Innovation, Inc. (NASDAQ: PRPL) Director Coliseum Capital Co-Invest III, L.P. bought a total of 594478 shares at an average price of $13.72. The insider spent $8,155,370.78 to buy those shares. What’s Happening: Purple Innovation recently said it anticipates FY21 net sales and adjusted EBITDA at the low end of the prior guidance ranges. What Purple Innovation Does: Purple Innovation Inc is a comfort innovation company. The company designs, manufactures and sells a range of comfort technology offerings, including mattresses, a pillow, cushions, sheets, bed platforms, and other products.
Source: Benzinga
