Although US stocks closed sharply lower on Tuesday, there were a few notable insider trades.
When 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.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.
Aspen Aerogels
- The Trade: Aspen Aerogels, Inc. ASPN 10% owner Koch Industries Inc acquired a total of 10,526,316 shares an average price of $9.50. To acquire these shares, it cost around $100 million.
- What’s Happening: Aspen Aerogels recently announced pricing of a $240 million upsized public offering of 25,263,158 shares of common stock at a price of $9.50 per share.
- What Aspen Aerogels Does: Aspen Aerogels Inc is an aerogel technology company that designs, develops and manufactures high-performance aerogel insulation used primarily in the energy infrastructure, building materials and electric vehicle markets.
Fisker
- The Trade: Fisker Inc. FSR Director, Chief Financial Officer Geeta Gupta acquired a total of 33,700 shares at an average price of $7.42. To acquire these shares, it cost around $249.98 thousand.
- What’s Happening: Evercore ISI Group recently initiated coverage on Fisker with an Outperform rating and announced a price target of $15.
- What Fisker Does: Fisker Inc is revolutionizing the automotive industry by developing emotionally desirable and eco-friendly electric vehicles on Earth.
Don’t forget to check out our premarket coverage here .
Also check this: Investor Optimism Declines Amid Recession Worries
Kronos Worldwide
- The Trade: Kronos Worldwide, Inc. KRO Executive VP Amy A Samford bought a total of 2,000 shares at an average price of $9.71. To acquire these shares, it cost around $19.42 thousand.
- What’s Happening: The company, last month, posted a decline in Q3 earnings.
- What Kronos Worldwide Does: Kronos Worldwide Inc manufactures and sells titanium dioxide pigments. Titanium dioxide is a white inorganic pigment used in a variety of products.