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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.
Empire Petroleum
- The Trade: Empire Petroleum Corporation (NYSE: EP) 10% owner Energy Evolution Master Fund Ltd acquired a total of 1,256,832 shares an average price of $8.00. To acquire these shares, it cost around $10.05 million.
- What’s Happening: On Nov. 13, Empire Petroleum Reported product revenue of $10.3 million and a net loss of $2.7 million for the third quarter.
- What Empire Petroleum Does: Empire Petroleum ...