Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed mostly higher on Friday, 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.
Ooma
- The Trade: Ooma, Inc. (NYSE: OOMA) CEO and President Eric B Stang acquired a total of 10,000 shares an average price of $9.85. To acquire these shares, it cost around $98,486.
- What’s Happening: On Dec. 5, Ooma posted in-line earnings for its third quarter.
- What Ooma Does: Ooma Inc is a United States-based provider of innovative communication solutions and other connected services to small business, home, and mobile users.
- The Trade: Chart Industries, Inc. (NYSE: GTLS) Director Linda Harty acquired a total of 1,000 shares at an average price of $130.14. To acquire these shares, it cost around $130,140.
- What’s Happening: On Oct. 27, Chart Industries reported worse-than-expected third-quarter financial results and lowered full year 2023 sales guidance.
- What Chart Industries Does: Chart Industries provides a variety of cryogenic equipment for storage, distribution, and other processes within the industrial gas and liquefied natural gas (LNG) industries.
Kewaunee Scientific
- The Trade: Kewaunee Scientific Corporation (NASDAQ: KEQU) Director John Russell bought a total of 7,500 shares at an average price of $22.98. To acquire these shares, it cost around $172,361.
- What’s Happening: On Dec. 6, Kewaunee Scientific posted a profit for the second quarter.
- What Kewaunee Scientific Does: Kewaunee Scientific Corp is engaged in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products.
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