Chad Landon McLeaming, a director of Spectral Capital Corporation (OTCMKTS:FCCN), has made several purchases of the company's common stock, totaling $176,551. The transactions, which took place between May 28 and July 11, 2024, were executed at prices ranging from $0.364 to $4.717 per share.
The buying spree began on May 28, when McLeaming acquired 15,517 shares at an average price of $0.364, with trades during the session ranging from $0.28 to $0.37. This was followed by a series of purchases on June 21, June 24, June 26, June 27, June 28, July 10, and July 11, with the number of shares and the prices paid per share increasing with each subsequent transaction.
On June 21, McLeaming bought 1,200 shares at $0.700 each, and then added 2,000 more shares on June 24 at a price of $0.610 per share. The largest single-day purchase occurred on June 26, when he acquired 68,055 shares at a weighted average price of $0.986, with individual trades priced between $0.90 and $1.08.
The upward trend in transaction prices continued with McLeaming buying 15,200 shares at an average of $1.216 on June 27, with that day's trades ranging from $1.16 to $1.30. On June 28, he purchased 37,554 shares at an average price of $1.923, with prices per share that day spanning from $1.70 to $2.15.
In July, the Spectral Capital director's acquisitions included 1,500 shares at an average of $3.116 on July 10, with trades priced from $3.00 to $3.28, and 1,350 shares at an average price of $4.717 on July 11, with a price range of $4.67 to $4.79.
These transactions have increased McLeaming's ownership in Spectral Capital, a company in the computer processing and data preparation industry, to a total of 142,376 shares. The director's active buying pattern has been disclosed in a recent SEC filing, providing full transparency to the market.
Investors and market watchers often look to insider buying as a signal of confidence in the company's prospects. With McLeaming's recent purchases, stakeholders in Spectral Capital Corporation may take note of the director's optimistic stance on the company's value.
InvestingPro Insights
The recent insider buying activity by Chad Landon McLeaming at Spectral Capital Corporation (OTCMKTS:FCCN) aligns with some intriguing metrics for the company. Notably, the Market Cap (Adjusted) of Spectral Capital stands at $219.27M USD, indicating a sizeable company valuation despite the negative earnings metrics. The Price, Previous Close was $3.5 USD, which is below the InvestingPro Fair Value estimate of $2.47 USD. This discrepancy suggests that the stock may be overvalued at its last closing price compared to fundamental analysis estimates.
Moreover, the company's performance over various time frames shows extreme volatility with a 1 Month Price Total Return of 473.86% and a staggering 6 Month Price Total Return of 6762.75%. Such figures may catch the eye of investors looking for high-growth potential in the short term, although they also indicate a potentially higher risk profile.
InvestingPro Tips highlight that Spectral Capital's P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 is -1011.62, and the PEG Ratio for the same period is -30.54. These metrics reflect challenges in profitability and growth valuation, which can be crucial considerations for investors. For those interested in a more in-depth analysis, there are additional tips available on InvestingPro. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, which includes comprehensive insights that could further inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.