Amtech Systems Inc. (NASDAQ:ASYS) director Robert M. Averick has recently purchased additional shares of the company's stock, according to the latest SEC filings. The transactions, which took place between May 10 and May 14, involved the acquisition of shares at prices ranging from $5.16 to $5.45, reflecting a total investment of over $82,901.
Averick, who is also a ten percent owner of the company, has shown his confidence in Amtech Systems by increasing his stake through these recent purchases. The transactions were carried out directly, with the weighted average price of the shares bought on May 10 being reported at $5.20. The filing indicates that the prices of the shares purchased on that day varied, with the lowest being $5.16 and the highest reaching $5.23 per share.
Following these transactions, the director's ownership in the company has increased, demonstrating a positive signal to the market and potentially to other investors. It is worth noting that Averick is associated with Kokino LLC and has an indirect interest in the shares through his minority ownership of Piton, which is under the umbrella of Kokino Family Clients.
The SEC filing also includes footnotes that provide additional context to the ownership. For instance, some shares are beneficially owned by the Kokino Family Clients and are managed by Averick as a Portfolio Manager at Kokino. Moreover, shares are also held in a custodial account for the benefit of an immediate family member of Mr. Averick, as well as by his spouse.
Investors often monitor insider buying and selling activities as they can provide insights into how the company's executives view the stock's value and prospects. Amtech Systems, a provider of specialized industrial machinery, has thus seen notable insider activity that could be of interest to current and potential shareholders.
InvestingPro Insights
As investors digest the news of insider purchases by Amtech Systems Inc. (NASDAQ:ASYS) director Robert M. Averick, it's essential to consider the broader financial landscape of the company. The latest data from InvestingPro shows that Amtech Systems has a market capitalization of approximately $75.87 million. Despite a challenging period, the company has exhibited a significant return over the last week, with a 12.0% price total return, which can be seen as a potential sign of recovery or market optimism.
The company's Price to Earnings (P/E) ratio stands at -3.54, reflecting market expectations of future earnings growth, especially considering that analysts predict the company will be profitable this year. This aligns with Averick's recent share purchases, potentially indicating his belief in the company's turnaround and future profitability. Additionally, Amtech Systems operates with a moderate level of debt, which is a positive sign for investors concerned about financial stability.
It's also noteworthy that the company's liquid assets exceed its short-term obligations, which could provide some reassurance to investors about its ability to meet immediate financial needs. For those interested in a deeper dive into Amtech Systems' financial health and future prospects, InvestingPro offers a comprehensive set of additional InvestingPro Tips. There are currently 9 more tips available, which can be accessed at: https://www.investing.com/pro/ASYS.
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